6/28/2011 05:31:00 PM
Your Advisor
MCX News
Spot Silver also remained under pressure, taking cues from fall in gold prices and downside pressure in the base metals pack. Demand concerns for base metals emerged as economic recovery in the US and Euro Zone witnesses slowdown while China follows a tight monetary policy. Silver being an industrial metal takes cues from movement in industrial metals.
From an intra-day perspective we expect gold prices to witness downside pressure as markets become optimistic over a solution to Greece. However, any negative news over Greece could boost demand for gold. The short-term view on gold continues to remain bullish on global economic concerns. Inflation-led demand could take a hit as crude oil prices trade below $100/bbl, thereby easing concerns over sharp rise in inflation in the near-term.
Crude oil is expected to trade on a positive note today, mainly taking cues from expected fall in US crude oil inventories and upbeat global market sentiments. Dollar weakness will also provide support. However, in the short-term prices are expected to trade lower on easing supply from the IEA and Saudi Arabia.
Gold and silver prices fell Monday after investors gained the confidence to shift their money back into the stock market. Gold and silver prices had been boosted by investors who want to park their money in relatively safe, hard assets. Precious metals become more valuable when markets worry about inflation, political turmoil or bad economic news.
NCDEX News
Soyabean
In range-bound trading, refined soya oil prices traded higher by Rs 3.50 to Rs 633 per 10 kg in futures trade today on firming trend at spot market. At the Multi Commodity Exchange, refined soya oil for delivery in July traded higher by Rs 3.50, or 0.56 per cent, to Rs 633 per 10 kg, with a business turnover of three lots.Analysts said a firming trend in the spot market following rise in demand mainly helped refined soya oil prices to trade higher at futures trade.
Fill Form for all MCX & NCDEX Tips
or Click here for all Commodity Tips, we gives you all commodity tips, mcx tips, ncdex tips, mcx, gold tips, silver tips, mcx commodity tips, commodity tips.
