7/15/2011 05:45:00 PM
Your Advisor
Crude Oil Updates
Crude oil prices dropped sharply by 2.4 percent on the Nymex on Thursday on rising concerns over Euro Zone and US debt worries exerted pressure on oil prices yesterday. Additionally, weak global market sentiments also kept prices under check. On the MCX, crude oil declined more than 3 percent on account of Rupee appreciation and touched an intra-day low of `4215/bbl in yesterday trading session.
Nickel was the only metal to witness gains on the LME on Thursday. Constantly falling metal inventories coupled with dollar weakness provided support to the metal. It touched an intra-day high of $24,225/tonne and closed at $24,075/tonne yesterday. On the MCX, the metal rose 0.3 percent and touched an intra-day high of `1079.90/kg on Thursday.
Gold Updates
The most-traded gold for August delivery on the Multi Commodity Exchange (MCX) was trading 0.60% lower at Rs 22,862 per 10 grams, after hitting a high of Rs 23,083 in the previous session.India gold eased on Friday as traders booked profits from the previous session's near-record rally, prompting traders to pick up a few deals in anticipation of festival demand due in September, dealers and analysts said.
Silver Trend
A drift lower is favoured towards 56500 initially, but unlikely to evolve into major weakness unless consistent trades below 56300. A turn higher form 55500-300 regions if turn up could stretch the momentum towards 57700/58600 or even more. An unexpected falls below 56300 the intraday downside objective would be 55300/54600 levels.
Click Here to get All Commodity Tips
Or Fill up the form for all MCX Tips, NCDEX Tips, We deal in all commodity tis, mcx tips, ncdex tips, mcx silver tips, bullion tips, mcx intraday tips.
