Precious metals prices are trading little changed on MCX today. Industrial metals prices are trading steady near two-month highs on international bourses today. Signs of a revival in China's economic growth and hopes of further easing by the United States are likely to support prices for the day. Crude oil prices are trading firm on MCX today. We expect oil prices to remain firm after OPEC comments that members pumped less oil last month.
Bullion:-
Gold:
Spot gold prices ended on a flat note on Tuesday. On the MCX, Gold February contract ended 0.4 percent lower due to appreciation in the Indian rupee.
Silver:
Spot silver declined 0.8 percent on Tuesday taking cues from bearishness in the spot gold prices in most part of the trading session along with weakness in the base metals pack. MCX silver prices fell taking cues from weakness in the spot silver prices along with appreciation in the Indian rupee.
Energy:-
Crude Oil:
Nymex crude oil prices traded on a flat note and declined marginally by 0.1 percent yesterday on the back of rise in the US crude oil inventories.
Base Metals:-
The base metal pack traded on a negative note yesterday on the back of worries over the unsolved US fiscal cliff issue. Appreciation in the Indian Rupee also added downside pressure on the base metals prices.
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