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Friday, July 13, 2012

Commodity Alerts: Crude oil trend and Gold Silver Updates

Despite the rupee getting strong against the dollar, On MCX crude prices have seen upside. However, selling pressure in international crude oil remains the smae. While in China, second quarter GDP figures have gone below the level of the last 3 years.Europe and America are also showing no signs of improvement.
Gold and silver remains in the initial consolidation phase.Although gold and silver in the international market is showing some strength back.
Early weakness in base metals is intact. Copper on the LME over half Fsidi pain has been strong. While on MCX crude is trading sideways with some earnings in its pocket. With nearly 0.60% rise, copper is trading around 425 level.

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