Gold prices on the MCX closed at Rs.30,722/10 gms after touching a low of Rs. 30,671/10 gms on Thursday. MCX Silver prices closed at Rs. 62,105/kg after touching a low of Rs.61,891/kg in yesterday’s session. In the intraday, we expect previous metals to trade with upward bias. In the domestic markets appreciation in the Indian rupee will act as a bearish factor for the precious metals on the MCX.
MCX Copper prices declined 1.3 percent owing to appreciation in the Indian rupee and closed at Rs.433.2/kg on Thursday after touching a low of Rs.432.6/kg in yesterday’s session. In today’s session, we expect base metals to trade with a positive bias. Appreciation in the Rupee will however cap sharp gains in the prices of base metals on MCX.
Crude oil prices closed at Rs.4,721/bbl after touching an intra-day high of Rs.4,737/bbl on Thursday. We expect crude oil prices to trade rangebound in today’s session taking cues from upbeat global market sentiments along with weakness in the DX.
0 comments:
Post a Comment