MCX Bullion Trend

Gold Trend

Spot Gold prices traded in the positive territory, amid rising geo-political issues which continued to support demand for gold as a safe haven. But sharp gains in the yellow metal were capped on account of dollar strength. The US Dollar Index (DX) strengthened around 0.3 percent till 4.00 pm IST as concerns in the Middle East increased demand for the currency. Spot Silver prices on the other hand increased almost 1 percent and traded around $36.33/oz till 4.00 pm IST. On the MCX, silver prices gained almost 3 percent as Rupee depreciation supported gains.

Crude Oil Trend

Crude oil prices fell from its 2 1⁄2 year high that it touched on Monday after statement by the OPEC that it could increase output if supply concerns persist. The oil cartel also added that the supply situation was not at all tense and that prices were mainly rising due to fears. World supply continues to be comfortable despite loss in supply of crude from Libya.

MCX Bullion Review

Bullion prices are expected to trade higher on the back of uncertainty over ongoing geo-political concerns in Libya. But sharp gains could be capped on account of dollar strength.

Crude oil prices are expected to come under pressure as despite geo-political concerns in Libya, supply side concerns have eased on account of statement by the OPEC. Dollar strength will additionally put downside pressure on oil prices.

Base metals are expected to trade with a negative bias, taking cues from unrest in Libya, concerns over economic growth and dollar strength.

Click & Get COMMODITY TIPS. All Commodity Tips, Free Commodity Tips, gold tips, silver tips, mcx bullion tips, bullion tips, mcx bullion trend, mcx tips, free mcx tips you can get form here.