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Wednesday, June 22, 2011

MCX Commodities Daily Newsletter for Today 22 June 2011

MANSOON Offer MCX-NCDEX Commodities Call and Learning Analysis 
GOLD RISES FOR FIFTH SESSION ON DEMAND FOR HAVEN AMID GREEK DEBT CONCERNS.
OIL UP FROM 4-MONTH LOW; GREECE, EURO IN FOCUS.
COPPER EGDES UP; FOCUS ON GREECE CRISIS.
DOMESTIC OIL AND OILSEED TRADE BULLISH.

Gold prices rose on Tuesday as investors spooked by talk of a Greek debt default and contagion to other euro zone countries sought safety while a softer dollar also helped. Copper climbed nearly 1 percent on Tuesday as the euro rose against the dollar on hopes European leaders will cobble together a deal to stop Greece from default, but concerns about demand prospects persisted. Oil reversed early gains on Tuesday, turning negative in a bout of profit taking ahead of the expiry of the front-month U.S. crude futures contract.
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