MCX Gold, Silver, Copper, Crude Oil Updates Today 20 Dec. 2012

Bullion: Gold futures hit a six-week low on the domestic exchanges as the rupee strengthened against the dollar. Silver futures were trading lower tracking the strong rupee and weak trend in MCX futures. Precious metals prices are trading firm on MCX today.

Metals: Base metal futures on MCX were trading lower tracking  appreciation in rupee against the US dollar. Industrial/Base metals prices are trading lower on international bourses today. We expect metal prices to remain weak on account of weak physical demand from China. Copper in particular can be sold on rallies.

Energy: Crude futures rose Wednesday ahead of weekly government data on domestic oil and fuel inventories that traders expect will show a dip in supplies. Crude oil prices are trading a tad lower on MCX today. In the evening session we have the final GDP numbers to be released by the US. Any positive data reported is likely to support oil prices from lower levels.