Political crisis in Iran and inventory reduction in US has supported the Crude oil prices in the international market. However strengthening of rupee against dollar has brought domestic crude prices under pressure. Currently on NYMAX crude oil has risen above $102. Despite the slight decline on MCX crude oil remains above Rs 5,400.
A decline has been seen in precious metals in the domestic commodity market. However COMEX gold has risen above $1615. In the evening trade we can expect some bullish run in bullion metals.
