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Wednesday, June 8, 2011

MCX Crude Oil Tips | Today's OPEC Meetting

Crude Oil Call Intraday
SELL Crude oil  Blow 4411-4  Target 4330 Stoploss- 4450

Crude Oil Market outlook
Today OPEC meeting in Vienna today is going to be. OPEC crude oil production quotas at the meeting may decide to increase. Meanwhile, crude oil has gone down and feel at NYMEX of $ 99 are also coming down. Rs 4,400 per barrel of crude oil in the domestic market is also trading down. Special is that waiting for the OPEC meeting last only 5 days in the business sense of crude oil has come down about 5 per cent.
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MCX bullion market outlook | OPEC Metting Analysis For Crude oil

OPEC Meeting Analysis

MCX Index
At the MCX COMDEX is trading down by 18.77 points, or 0.54%, at 3,440.81 after opening at 3,456.74.
MCX bullion market outlook
Today's sharp decline in copper. Copper down on MCX is trading around 1 percent. While silver is going to decline.

Silver Decline by 500 to 54,700 per kg, while gold declined Rs 130 to 22,680 per 10 grams today.slowdown comes due to high level amid a weakening global trend.Trading sentiments turned bearish after gold shed 0.4 per cent to USD 1,538.50 an ounce in the overseas markets, as European debt concerns eased, eroding the appeal of the precious metal as a safe haven asset. The white metal also declined by 1.2 per cent to USD 36.70 an ounce.
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MCX Commodities Newsletter for Today 8 June 2011

GOLD FIRMS AS DOLLAR SLIDES TO ONE-MONTH LOW.
CRUDE NEAR THREE-DAY LOW; DELEGATE SAYS OPEC WILL RAISE PRODUCTION QUOTAS.
COPPER STEADY ON RECOVERY PROSPECTS, DOLLAR.
DOMESTIC OIL SEED AND EDIBLE OIL TRADE LOW.
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