MCX Market Data ~ Commodity Updates Today 01 April 2013

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.

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MCX Gold, Silver, Copper, Crude Oil Updates Today

Precious metals prices are trading firm on MCX today. We do not expect any major fall in the prices of bullions on account of the ongoing loose monetary policy by US Fed. Buying at dips is recommended for the day.

Industrial/Base metals prices are trading lower on international bourses today. We expect metals prices to remain under pressure on account of higher output from China and low physical demand. Selling on rise is recommended for the day.

Crude oil prices are trading a tad higher on NYMEX today. We do not expect any major rise in the prices of oil on account of higher inventory at key ports. Selling on rise is recommended for the day.

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MCX and NCDEX Commodity Market News Today

Precious/Bullion metals (Gold and Silver) are trading lower on MCX Commodity Market today. We expect prices to trade lower for the following trading session remaining under pressure due to a firm dollar. All base metals are trading on a negative note today. We expect prices to trade lower for the day on account of a stronger dollar. Crude oil is trading lower on MCX Commodity today. We expect prices to trade lower for the day on account of a stronger dollar and expectations of rising U.S. crude stocks offset Iranian threats to halt a vital oil trade route.

NCDEX Agri Commodity Market Trading Tips:

Pepper futures may trade sideways. Jeera futures extended the down trend due to weak cues from the spot market. Jeera futures may remain below 16,400 levels owing to profit booking from higher levels. Turmeric futures traded mixed following the rise in spot prices. Cardamom futures gained due to positive cues from the physical market. Pepper prices traded lower after making a high of 33150. We expect if prices break and sustain below the same may see further fall towards 32100 then 31800 levels for the day.

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