Indian rupee has strengthened against the dollar by 1.5 per cent today. The trick of changing currency in the domestic commodity markets has increased the pressure on the prices of gold and silver. International market has seen a boom in gold and silver, while the domestic market a declining trend in gold and silver is been observed.
Currently, nearly 1 per cent on MCX gold is trading at Rs 31,650 with. 0.75 per cent, while silver is trading at Rs 63,880 with weakness. Slipped 0.5 percent on MCX crude oil is trading below Rs 5,000. MCX mixed in the base metals business is being witnessed. Aluminum, Copper and Nickel are traded with weakness in the recorded increase in lead and zinc.
Meanwhile on NCDEX chillies September futures rose by 2 per cent and the price is close to Rs 5,000. With nearly 2 per cent from the pepper is trading at Rs 43 250. Chinese around 1.5 per cent to Rs 3,600 has risen strongly. Cotton missed on the NCDEX December, January and March futures declined by 2.5-3 per cent.
Commodity tips for today
MCX Silver (December futures): Buy - 64250, stoploss - 63 850 and the target - 64 950
Natural Gas MCX (September Futures): Buy - 153, stoploss - 150 Goal - 158
MCX Mentha Oil (September futures): Sell - 1200, stoploss - 1240 and target - 1100
Soyatel NCDEX (October futures): Sell - 740, stoploss - 752 and the target - 720
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