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MCX Bullion (Gold and Silver) Tips
Despite breaking the 21 DMA supports of 1721, prices have held support just above the recent swing low obstacle of 1702. Up moves started since January was exactly in line with the rising trend channel, but currently it has been broadening inside the channel.
In international market, gold - silver is traded on the edge. COMEX 0.33 % with the gold is trading at $ 1734, with the boom of the silver half per cent is trading above $ 33. Light gold in the domestic market declined on Thursday to close at Rs 28 139, the silver with a marginal decline from 56 230 to Rs.
MCX Base Matal (Copper, Zink and Lead) Tips
All base metals except nickel in the fall. Aluminum, copper, lead and zinc from 1 to 0.25 per cent in weakness. Nickel ended at the seems. Copper for May delivery retreated 1.1 percent to $3.7685 a pound at 10:46 a.m. on the Comex in New York. Prices earlier reached $3.7355, the lowest since Jan. 23.On the London Metal Exchange, copper for three-month delivery fell 1.2 percent to $8,270 a metric ton ($3.75 a pound) Lead, aluminum, nickel. zinc and tin also fell in London.
Crude Updates
Decline in domestic crude oil in the market today. However, the price is above Rs 5,000. NYMEX 102 dollars a barrel in crude oil is trading at. Brent crude on the ICE has risen above $ 120. Crude for March delivery was at $102.41 a barrel, up 10 cents, on the New York Mercantile Exchange at 10:22 a.m. Singapore time. Prices yesterday rose 51 cents, or 0.5 percent, to $102.31, the highest close since Jan. 4. They are up 3.8 percent this week, the most since the period ended Dec. 23, and 19 percent the past year.
