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MCX Gold, Silver, Copper, Crude Oil Updates Today 02 April 2013

12:43 AM Anonymous 6

Bullion: Gold futures were trading higher on local bourses tracking the rise in COMEX contracts, which rose due to weakness in the dollar against the euro and safe-haven buying. The Indian forex market was closed as banks were shut due to annual closure of accounts. Trading was thin as UK, Australia and Hong Kong markets are closed for Easter holiday.

Metals: Base metal futures on MCX were trading lower due to concerns over demand from China, as the country reported a lower-than-expected rise in manufacturing Purchasing Managers' Index. The data showed that China's March PMI rose to 50.9 from 50.1 in February, while market had expected it around 52. Absence of cues from the London Metal Exchange today also kept sentiment weak in domestic market.

Energy: Domestic crude oil futures were trading lower tracking New York Mercantile Exchange, where benchmark contract declined on profit booking in the electronic session. NYMEX oil futures eased today after rising in the previous week on upbeat US durable goods data. Crude oil futures declined also because of ongoing concerns regarding the Eurozone economy and sharp rise in the US crude oil stocks.

MCX Market Data ~ Commodity Updates Today 01 April 2013

2:26 AM Anonymous 2

Precious metals prices are trading little changed on COMEX today. We expect a further profit-taking in the prices of bullions on account of a stronger US dollar overseas.

Industrial metals prices are trading lower on international bourses today. We expect a further decline in the prices of metals on account of a property rate tightening measures by China. Selling on rise is recommended for the day.

Crude oil prices are trading marginally lower today. We expect prices to remain under pressure for the day as Exxon Mobile Corp has shut a pipeline which carries 95,000 bpd to US Gulf Coast which would further increase the inventory build-up in the US, already standing at elevated levels.

MCX Gold, Silver, Copper, Crude Oil Updates and Tips Today

2:15 AM Anonymous 5

Bullion: Bullion futures were trading up on local exchanges tracking the rise in COMEX futures, but the strong rupee against the dollar limited the upside in prices. Bullion futures rose on COMEX, as the recent consolidation in prices

after the sharp sell off earlier this month, boosted bargain buying. The weak dollar against the euro also pushed up prices.

Metals: Domestic base metal futures were trading higher on the MCX tracking the trend on the London Metal Exchange, where prices rose due to a marginal fall in dollar against the euro. The rise in metal prices was, however, capped as the Indian rupee strengthened against the US dollar. On the LME also, base metals were trading higher by 0.21%-1.06%, with the benchmark three-month copper contract up at $7,784.50 a tn.

Energy: Domestic crude oil futures erased early losses on lower level buying, tracking similar technical upward recovery in benchmark contracts on the New York Mercantile Exchange. Upward recovery in MCX oil futures, however, was

limited due to the rupee's rise against the dollar. On NYMEX, oil futures recovered slightly on bargain buying, but overall sentiment remained weak on anticipation of rise in US crude oil stocks.