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Wednesday, June 29, 2011

MCX Silver Again In Form on Wednesday

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Bullion Intraday Call For Evening Round Up
MCX Gold (August): Buy Above - 22100-22120, Target - 22250, stoploss - 22000

Silver MCX (July): Buy Above- 51260-51280, Target - 51550, stoploss - 51100
MCX Silver Outlook
Silver prices to boom. Silver on MCX is trading at Rs 51326 With 2 percent  upper side on COMEX silver remains above $ 34.
Crude Oil
Crude oil is trading at full strength. Crude oil is trading at Rs 4,219 on MCX. NYMEX the crude oil has risen close to $ 94.
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MCX Commodities Newsletter For Today 29 June 2011

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GOLD EDGES ABOVE $1,500/OZ AS EURO, OIL RECOVER.
OIL GAINS GROUND ON HOPES FOR GREECE RESOLUTION.
COPPER GAINS, EYES ON GREECE.
DOMESTIC SPICES COMPLEX RETREAT ON HIGH ARRIVALS.
Oil prices rose on Tuesday on optimism that Greece can pass an unpopular austerity program, and also on lift from a weak dollar. The weak dollar added lift to dollar- denominated oil and the rising euro rallied further after the Portuguese government said it planned to be scrupulous in meeting terms of a financial bailout. Copper rose on Tuesday as an agreement by French banks to rollover Greek debt supported appetite for riskier assets but caution remained ahead of Greece's vote on austerity measures later in the week. Gold rose back above $1,500 an ounce in Europe on Tuesday.
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