6/22/2011 06:10:00 PM
Your Advisor
MCX Commodity News
Yesterday in spite of economic data showing fall in the Economic Sentiment over the Euro Zone area for the month of June, 2011 Euro rose against the dollar by 0.61 percent to close at $1.4395 from $1.4308 on 20th June, 2011. Speculation of avoiding the Greece default and expectation to win confidence vote supported the Euro while fragile housing data dissipated from U.S. pressurized the greenback and Dollar Index extended to end in red yesterday and fell by 0.53 percent to 74.62 from 75.02 on 20 th June, 2011.
COMEX Gold Aug futures continued to end in green yesterday on weaker dollar and also on ncertainty prevailing around the Greece confidence vote and they rose by 0.29 percent to close at $1,546.4 per troy ounce from $1,542.0 per troy ounce on 20th June, 2011.
Investment demand for the yellow metal continued to remain muted yesterday with holdings at SPDR GOLD ETF remained unchanged.
COMEX Silver July futures also extended their gains and rose yesterday by 0.85 percent to close at $36.379 per troy ounce from $36.071 per troy ounce on 20th June, 2011.
Copper Trend
COMEX Copper July futures pared their prior day gains and rose by 0.37 percent to close at $4.0885 per pound from $4.0735 per pound on weaker greenback even though data dissipated from the U.S. showed a weaker housing market. Optimism surrounding Greece to avert its default also supported the metal which negated the decline in the refined copper imports by the world’s largest consumer of the red metal – China in May, 2011 to a 30 month low. Copper three month futures on LME also ended in green and rose by 0.36 percent to close at $9,043 per ton from $9,011 per ton on 20th June, 2011.
Click & Get All Commodity Tips, MCX Tips, NCDEX Tips
All commodity tips, mcx tips, free mcx tips, commodity tips, mcx silver tips, gold tips, ncdex tips you can get over here.
