MCX Gold, Silver, Copper, Crude Oil Updates Today 04 April 2013

Precious metals prices are trading lower on international bourses today. We expect a further sell-off in the prices of precious metals as an early indication of alterations in the asset-purchase program by the Fed may pressurize prices. Selling on rise is recommended for the day.

Industrial metals prices are trading lower on international bourses today. We expect a further drop in the prices of metals on account of weak manufacturing growth in major economies of the globe. Selling on rise is recommended for the day.

Crude oil prices are trading lower on NYMEX today. We expect a further drop in the prices of oil on account of higher inventories at key ports. Selling on rise is recommended for the day.

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

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. 

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Commodity Market News and Trading Tips Today

GOLD HITS 4-WEEK TOP ON EUROPE WOES, ASIA DEMAND.
CRUDE OIL OFF STEADY AHEAD OF U.S STOCKPILES.
COPPER STEADY, CHINA HOLDS BACK PURCHASES BEFORE HOLIDAYS.
DOMESTIC OIL AND OILSEED TRADE STEADY.

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MCX Commodity Tips - NCDEX Agri Commodity Market Data

Precious/Bullion metals (Gold and Silver) are trading higher on MCX commodity market today. We expect prices to trade higher today. Industrial/Base metals are trading higher on International bourses today. We expect prices to trade lower for the day on account of weak china's trade data and worries about the euro  zone. Crude oil is trading higher on MCX today. We expect prices to trade higher for the day.

Outlook for Soybean is seen up for the day. CPO is expected to trade higher. Guar Complex is expected to trade lower for the day. Outlook for Chana is down for the day. Outlook for Jeera is sideways to up for the day. Pepper futures to trade higher for the day.

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