MCX Gold February contract may trade in range 27,850-27,400. Support for February copper is seen at Rs.405 while resistance is seen at Rs.416. All base metals are trading on a negative note today.
Precious metals (Gold and Silver) are trading higher on MCX commodity market today. We expect prices to trade higher on account of encouraging economic data from the United States and Europe, as well as expectations of further monetary easing in the United States. All base metals are trading lower on International bourses today. We expect prices to trade lower for the day as worries that the financial crisis in the euro zone will slow global economic growth overrode optimism from upbeat U.S. economic data. Crude oil is trading flat on MCX today. We expect prices to trade higher for the following trading session.
Precious metals (Gold and Silver) are trading higher on MCX commodity market today. We expect prices to trade higher on account of encouraging economic data from the United States and Europe, as well as expectations of further monetary easing in the United States. All base metals are trading lower on International bourses today. We expect prices to trade lower for the day as worries that the financial crisis in the euro zone will slow global economic growth overrode optimism from upbeat U.S. economic data. Crude oil is trading flat on MCX today. We expect prices to trade higher for the following trading session.
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8 comments:
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