MCX Gold, Silver, Copper, Crude Oil Updates Today

Bullion: Gold futures were trading lower on local exchanges tracking COMEX futures, but the fall in rupee against the dollar limited the downside in local prices. On COMEX, gold futures came under pressure due to the strong dollar against the euro and as investors were awaiting cues from the European leaders' summit today and Friday. 

Metals: Domestic base metals were moving in a narrow range tailing benchmark contracts on the London Metal Exchange. However, depreciation in rupee against the dollar lent some support to local base metal futures. China is world's leading consumer of industrial metals, but its demand has been hit, as the country remains committed to maintaining curbs on its proper sector.

Energy: Domestic crude oil futures were trading lower on similar cues from the benchmark contracts on the New York Mercantile Exchange, but weakness in rupee against the dollar limited the fall. NYMEX crude oil futures traded lower today, as sentiment weakened following rise in the US crude oil stocks. Naturalgas futures aimed at a fresh three-month high Wednesday, gaining 0.9% as weather forecasts suggest heating demand will remain strong through the last weeks of winter.


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