FREE MCX Tips
Buy silver
At - 54950
tgt - 55100, 55180, 55360
SL - 54710
For More tips - Click here
Gold Report
Spot Gold prices traded lower by 0.2 percent today, mainly tracking strength in the US dollar. But sharp declines were capped due to ongoing geo-political worries that increased risk aversion which in turn boosted safe-haven demand for gold. Prices touched an intra-day low of $1423.50/oz and were hovering around $1426.16/oz till 4.00 pm IST. On the MCX, gold witnessed further declines mainly on account of Rupee appreciation in today’s trading session.
Crude Oil Report
Crude oil prices traded on a flat note today and touched an intra-day low of $105.03/bbl till 4.00 pm IST. Prices came under pressure after rebels regained control of all key oil terminals in the eastern half of Libya, namely Es Sider, Ras Lanuf, Brega, Zueitina and Tobruk. Qatar has also agreed to market crude oil produced from these oil fields. Output from oilfields stood at about 100,000 to 130,000 barrels per day (bpd), which could be increased to 300,000 bpd. This has eased the supply concerns and put pressure on oil prices in today’s trading session. On the MCX, crude oil May contract declined around 0.1 percent and were hovering at `4730/bbl today.
Outlook for Metal
We expect gold to trade with a positive bias today, taking cues from worries over sovereign debt crisis in the Euro zone and geo-political tensions. But, strength in the US dollar will cap sharp gains.
Crude oil prices are expected to come under pressure today, mainly on account of dollar strength and poor sentiments in the global financial markets.
Base metals are expected to lower today, mainly tracking weak market sentiments coupled with strength in the US dollar. Additionally, Euro Zone debt concerns and ongoing geo-political tensions will further exert pressure on prices.
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Buy silver
At - 54950
tgt - 55100, 55180, 55360
SL - 54710
For More tips - Click here
Gold Report
Spot Gold prices traded lower by 0.2 percent today, mainly tracking strength in the US dollar. But sharp declines were capped due to ongoing geo-political worries that increased risk aversion which in turn boosted safe-haven demand for gold. Prices touched an intra-day low of $1423.50/oz and were hovering around $1426.16/oz till 4.00 pm IST. On the MCX, gold witnessed further declines mainly on account of Rupee appreciation in today’s trading session.
Crude Oil Report
Crude oil prices traded on a flat note today and touched an intra-day low of $105.03/bbl till 4.00 pm IST. Prices came under pressure after rebels regained control of all key oil terminals in the eastern half of Libya, namely Es Sider, Ras Lanuf, Brega, Zueitina and Tobruk. Qatar has also agreed to market crude oil produced from these oil fields. Output from oilfields stood at about 100,000 to 130,000 barrels per day (bpd), which could be increased to 300,000 bpd. This has eased the supply concerns and put pressure on oil prices in today’s trading session. On the MCX, crude oil May contract declined around 0.1 percent and were hovering at `4730/bbl today.
Outlook for Metal
We expect gold to trade with a positive bias today, taking cues from worries over sovereign debt crisis in the Euro zone and geo-political tensions. But, strength in the US dollar will cap sharp gains.
Crude oil prices are expected to come under pressure today, mainly on account of dollar strength and poor sentiments in the global financial markets.
Base metals are expected to lower today, mainly tracking weak market sentiments coupled with strength in the US dollar. Additionally, Euro Zone debt concerns and ongoing geo-political tensions will further exert pressure on prices.
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