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Friday, June 10, 2011

MCX Commodities Daily Newsletter for Today 10 June 2011

Yesterday's News Highlights
GOLD STEADY; PALLADIUM FIRMS ON AUTO RECOVERY.
OIL GAINS FOR THIRD DAY AS OPEC FAILS TO AGREE QUOTAS; U.S. SUPPLIES DROP.
COPPER SLIDES FOR SECOND DAY AS WORLDWIDE RATE INCREASES MAY CURB DEMAND.
MOST SPICES TRADE DOWN, CUMIN SEED RECOVERS.
Bullion Trading Report Technical Analysis Report For Today>>>Click Here
Gold prices firmed to session highs near $1,540 an ounce on Thursday after the European Central Bank signalled a euro zone rate hike is on the cards for July, as expected.
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MCX Basemetals Report 

MCX Basemetals Report
Base metals futures moved mostly down during the evening hours of trading on MCX Thursday on profit booking. While lead traded up a tad, other metals Traded down.
Copper was softer on Thursday as traders fretted about further signs of U.S. economic weakness, but prices were buttressed by expectations of higher demand from top consumer China.
Aluminium June contract traded at Rs 118.25 per kg, down Re 0.60 and moved in the range of Rs 119.40- 118.30 per kg. Total volume recorded 2,594 lots.
Lead
June traded at Rs 115.55 per kg, up Re 0.10 and traded between Rs 116.00- 114.90 per kg. Total volumes recorded 9,424 lots.  
Nickel June contract traded at Rs 1,020.40 per kg, down Rs 3.30 and traded between Rs 1,028.50- 1,016.60 per kg. Total volumes recorded 27,430 lots.
Zinc June contract offered at Rs 101.80 per kg, down Re 0.20 and traded between Rs 102.20- 101.40 per kg. Total volume recorded so far 7,873 lots.
Energy Outlook
U.S. crude oil rose in choppy trade on Thursday on concerns about supply as investors assessed the impact of OPEC's failure to agree on a rise in output targets which threw a spotlight on supply concerns.
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