Monday, February 28, 2011

Best Tips For Commodity


At Multi Commodity Exchange (MCX), crude oil future for March contract is trading at Rs. 4,454.00 per barrel, down by 2.15%, after opening at Rs. 4,535.00 against the previous close price of Rs. 4,552.00. It touched the intra-day low of Rs. 4,420.00 till the trading. (At 05:09 PM today).

Nickel for February contract, at MCX, is trading at Rs. 1,262.20 per kg (down by 0.18%) after opening at Rs. 1,254.30 against the previous close price of Rs. 1,264.50 with intra-day low of Rs. 1,245.70 till the trading. (At 05:08 PM today).

Zinc for February contract, at MCX, is trading at Rs. 110.95 per kg (down by 0.45%) after opening at Rs. 111.05 against the previous close price of Rs. 111.45 with intra-day low of Rs. 109.90 till the trading. (At 05:07 PM today).

Gold futures dropped in the domestic market today on the back of tracking weak global cues. April future declined by Rs. 274, or 1.30%, to Rs. 20,822.00 per 10 grams, while silver for March contract fell by Rs. 909, or 1.81%, to Rs. 49,125.00 per kg on the Multi Commodity Exchange (MCX). Gold future for April contract dropped as much as $15.7 to $1400.1 per ounce in New York as safe haven investment appeal shrinked from the previous session. Investors are monitoring closely on the situation in Libya and the energy market.

At Multi Commodity Exchange (MCX), gold future for April contract is trading at Rs. 20,857.00 per 10 grams, down by 1.13%, after opening at Rs. 21,050.00 against the previous close price of Rs. 21,096.00. It touched the intra-day low of Rs. 20,822.00 till the trading. (At 05:06 PM today).

At COMEX, gold future for April contract is trading at $1,402.9 per ounce, down by $12.9, after opening at $1,401.9 against the previous close price of $1,415.8 per ounce. It touched the intra-day low of 1,400.1 with a business volume of 30,714 lots till the electronic trading. (At 05:05 PM today).

At Multi Commodity Exchange (MCX), silver future for March contract is trading at Rs. 49,490.00 per kg, down by 1.09%, after opening at Rs. 49,820.00 against the previous close price of Rs. 50,034.00 per kg. It touched the intra-day low of Rs. 49,125.00 till trading. (At 05:04 PM today).

At Multi Commodity Exchange (MCX), natural gas future for March contract is trading at Rs. 176.20 per mmBtu, down by 1.07%, after opening at Rs. 177.90 against the previous close price of Rs. 178.10 per mmBtu. It touched the intra-day low of Rs. 175.80 till the trading. (At 05:03 PM today).

The Reuters/University of Michigan has scheduled to release U.S. consumer sentiment index report at 08:25 PM IST today. This report reflects the personal consumer confidence in economic activity. Generally, a high reading is seen as positive for crude oil & base metals prices, while low reading is seen as negative for crude oil & base metals prices. Inversely, any optimistic view about U.S. economy could erode the safe investment appeal from pre4cious metals. 

Currently, Domestic commodities markets are trading with negative note. Most of the indices are showing downward trend on Multi Commodity Exchange (MCX) except MCXAGRI. At MCX futures, 
MCXCOMDEX is trading at 3,450.26 (down by 0.97%), MCXMETAL is trading at 4,388.20 (down by 0.90%), MCXENERGY is trading at 3,152.74 (down by 1.56%), and MCXAGRI is trading at 2,859.46 (up by 0.13%). (At 03:20 PM today).

At NCDEX, the Dhaanya, an agri commodity index, is currently trading at 1,158.39, up by 0.26% (At
03:16 PM today).

Mentha oil futures are trading with negative note in the domestic market today. February contract declined by Rs. 21, or 1.85%, to Rs. 1,112.00 per kg on the Multi Commodity Exchange (MCX) due to profits booking by the speculators at existing price levels, amid weakening trend at the spot market. Moreover, increased arrivals in the spot market from the major producing regions also put a downward pressure on the futures prices.

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