Wednesday, December 19, 2012

MCX Gold is Below 31000, Sell Copper On High

MCX Tips
Bullion Metals
Global gold prices ended sharply lower on the Comex division of the New York Mercantile Exchange and reached a fresh three and half month low on Tuesday, but TD Securities still believes prices will reach new record high in 2013.
In Domestic market, after tuesday's sharp decline the sell-off in gold still dominates. MCX gold price has come down to Rs 31,000. In the international market, gold is trading at the lower end of the last 4 months. Currently, MCX gold is trading at Rs 30934 with a decline of 0.2 percent. MCX Silver is also having a selling pressure. Silver is trading at Rs 60479 with osteoporosis Marginally by 0.1 percent.

MCX Copper Updates
MCX base metals are also in decline mode today. Base Metals are down by 0.25-0.5 percent. Copper arrived to Rs 445.60, dropped 0.2 per cent. Has weakened by 0.5 per cent nickel and zinc. MCX Copper prices have been range bound between Rs.443 and Rs.450 since the beginning of the month.

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