MCX Gold and MCX Silver in the domestic market is still in the early lead. With 0.5 per cent rise on MCX gold is trading at Rs 29 704. The MCX silver with 0.33 per cent increase has crossed Rs 53,000 level. Stand fast in the international market is also being seen in gold and silver.Spot gold rates rapid up in the major metros in India. In Mumbai market, Standard gold (995 purity) climbed up Rs 275 at Rs 30000 and pure gold (999 purity) had increased tremendously with Rs 380 and was at Rs 30130.
In Delhi, market standard gold (995 purity) was too trading up by Rs 260 at Rs 29960 and pure gold (999 purity) had increased rapidly by Rs 660 at Rs 30160. the the festive seasons approaching, the demand of gold and increased intensely and so has the price of the yellow metal.
But Spot Silver is not to be ignored. Silver has crossed the Rs. 53000.
MCX crude oil is trading with weakness of the 0.20 per cent, while prices have come down to Rs 4,900.
In the domestic market, base metals are trading low. Copper and zinc are traded with a slight rise in price, while nickel and lead are in decline. In the aluminum business is flat.
On NCDEX Turmeric August, September and October have been looking forward to the 4 per cent upper circuit. The September futures cayenne pepper, coriander October futures rise 3.5 per cent have been recorded. 1-1.5 per cent in the wheat futures are trading with.
Commodity Recommendations -
Copper (August futures) MCX: Sell RS -423, -427 stoploss of Rs Rs Rs goals -417
Zinc (July futures) MCX: Sell Rs -102.5, -104 stoploss of Rs Rs Rs goal -100.5
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