Wednesday, March 30, 2011

Commodity Mcx Tips


On 29th March 2011 (Tuesday), the domestic commodity markets closed on a negative note. All 4 indexes on MCX trading in the negative zone compared to the previous close price. Yesterday, in the MCX future, MCXCOMDEX closed at 3,519.16 down by 0.43%, while MCXMETAL closed at 4,493.24 down by 0.09%, MCXENERGY closed at 3,315.23 down by 0.70% and MCXAGRI closed at 2,682.71 down by 1.45%.

The top gainers at MCX were Lead for March contract (2.25%), Lead Mini for March contract (2.25%), Lead Mini for May contract (1.92%), Lead for April contract (1.83%) and Lead Mini for April contract (1.75%).

Similarly the top losers at MCX were Natural Gas for June contract (-5.33%), Natural Gas for April contract (-5.27%), Platinum for March contract (-4.0%), Mentha Oil for April contract (-2.62%) and Natural Gas for June contract (-2.25%).

Yesterday at MCX, the top traded commodities in terms of quantity were Crude Oil for April contract with 137,095 lots, Silver M for April contract with 114,318 lots, Copper for April contract with 107,695 lots, Silver for May contract with 76,110 lots, Silver MIC for April contract with 63,386 lots and Nickel for March contract with 41,474 lots.

On the domestic arena, at MCX Crude Oil for September contract closed at INR 4,916.00. It touched a high of INR 4,950.00 and a low of INR 4,892.00 after opening at INR 4,938.00. Crude Oil for August contract closed at INR 4,903.00, it touched a high of INR 4,916.00 and a low of INR 4,849.00 after opening at INR 4,892.00.

Gold for October contract closed at INR 21,592.00, it touched a high of INR 21,634.00 and a low of INR 21,547.00 after opening at INR 21,620.00. Gold for August contract closed at INR 21,262.00, it touched a high of INR 21,325.00 and a low of INR 21,547.00 after opening at 21,620.00.

Silver for December contract closed at INR 57,458.00, it touched a high of INR 57,696.00 and a low of INR 57,170.00 after opening at INR 57,500.00. Silver for September contract closed at INR 56,499.00, it touched a high of INR 56,677.00 and a low of INR 56,129.00 after opening at INR 56,451.00.

In the last couple of months, silver prices have shown an increasing trend. The price has grew from Rs 43,080 a kilogram to Rs 55,820, a rise of Rs 12,740, or 30% (from January 27), since the Jasmine Revolution started.

Gold increased its sheen on safe haven buying due to unrest in Libya coupled with earthquake and tsunami in Japan. Also, the euro zone debt crisis caused the metal to rise.

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