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Friday, June 24, 2011

Precious Metals market Analysis Report and Prediction

 Gold, Silver and MANSOON Commodities Technical Analysis Report
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Both the precious metals on Friday registered notable losses on brisk selling by stockists, driven by weak global trend. While silver plunged by Rs 1,400 to Rs 53,300 per kg, gold shed Rs 230 to Rs 22,590.
No Tension In Bullion Trading
Besides, retail customers and jewellers refrained from buying and preferred to purchase on further falls, which further dampened the trading sentiment.
Crude Oil Outlook
Crude oil prices fall on NYMEX is looking after. However, still 6 per cent on MCX crude oil is trading with.  
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MCX Commodities Daily Newsletter for Today 24 June 2011

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  1. GOLD DECLINES AS FED SHYS AWAY FROM FURTHER STIMULUS, DOLLAR STRENGTHENS.
  2. CRUDE DECLINES ON DEMAND CONCERNS AFTER FED LOWERS U.S. ECONOMIC FORECAST.
  3. COPPER RETREATS AS LACK OF STIMULUS HINT BUOYS DLR.
  4. DOMESTIC OIL SEED AND EDIBLE OIL TRADE LOWER.
Gold was set for its biggest daily fall in over a month on Thursday after a surprisingly large rise in weekly U.S. jobless claims hit investor risk appetite, pummelling commodities and stocks and boosting the dollar. Copper fell on Thursday on a stronger dollar and concerns about demand in the United States after the Federal Reserve cut its forecasts for economic growth in the world's largest economy.
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