Monday, October 15, 2012

MCX Bullion Trend: Copper Updates Today

MCX Bullion Trend
MCX gold prices fell. In the international market, gold is trading below $ 1,750. Actually because of unclear picture of Spain's Economic terms. This is due to pressure on gold prices. In Domestic market Price indication for MCX gold has support at Rs 31000 and resistance at Rs 31300.
COMEX silver has declined. The price of silver rose 1.5 per cent to close to $ 33. On the MCX , Silver is down by 0.75 percent today. Although On MCX, Silver is looking weak for today but it has a shining trend for near term. Price indication are suggesting that Silver has a support at Rs 60400 and a resistance at Rs 61400.

Copper Updates For Today
China hopes to come in spite of stimulus packages has seen a drop in crude oil. NYMEX crude oil price has come to $ 92 per barrel. However, the domestic market is mild weakness in crude oil. In all base metals except nickel on MCX trading is weak. Copper, aluminum, zinc and lead are broken from 0.3 to 0.6 per cent. Nickel is 0.7 per cent. Copper Updates are suggesting that, Base metal futures on the MCX were trading lower mirroring the trend in benchmark contracts on the London Metal Exchange, where concerns over demand pulled down prices. Price indication suggesting that Copper has a strong support at Rs 432 and a resistance at Rs 436.

Cumin has picked up strongly today. Futures prices rose 2.5 per cent to Rs 15,000've run across. The global market has increased the demand for Indian cumin. Because Syria and Turkey has reduced the supply of cumin.

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