, , ,

COMMODITY MARKET TRENDS TODAY

Gold: Gold prices rose in futures trade today, supports a favourable global trend in markets. However, it witnessed a weak demand at the spot market which blocked the gains for this metal. The demand for this precious metal rise as investors appetite for more risky assets. The MCX Gold is trading at Rs 32,123 per 10 grams, high being Rs 32,200 while MCX Silver is trading at Rs 38,461 per killo. (data recorded at 4:30pm). Gold is showing a down turn with time. Prices seems to be decreasing and can reach lower in few more hours.

Metals: Investors are worried about recession in United States lead to a fall in demand of base metals. The base metals moved lower in Asian trade markets. Copper may stood near Rs 445 on MCX. Zinc can move to Rs 200 on MCX. Lead can move a maximum of Rs 145 and Nickel may slip towards Rs 880. Aluminium can move to Rs 149.

Energy: Crude oil may take a negative dip and can move to Rs 4.060 on MCX today. Current prices of crude are Rs 4,078 with a high of Rs 4,088. Natural gas may trade a weak bias and can traded at Rs 185. It can move further to Rs 192 on MCX.