MCX commodity Updates and commodities Trend Today

MCX Copper ended green on domestic commodity market and touched 400 mark. Today, copper may extend this positive trend steadily to run towards 403-404.50 level.

Nickel on The other hand gave up all the gains of the day and declined over 1% by the end of the day. Still Nickel is a strong recommendation for buying and we can expect prices to cover up losses today.

Gold and Silver traded lower on MCX. The precious metals are likely to prevail this trend. Crude oil again boosted up.

MCX Commodity News : Base Metals Surged Today

Base Metals trading is trading with positive bias today. With almost 1% gain, Copper on MCX is trading at Rs 410. The nickel, lead and zinc have also seen good rise.

If we look at the past few trading sessions, the earnings in the current round of base metals are more visible spot. Copper, aluminum, lead, zinc and nickel consumption is around the world. Impact on the economic activities of these metals, which is visible and affecting the price movement.

During Last 1.5 months, Copper has grown by 20 per cen. Nearly 11 per cent rise in nickel in the same period have been recorded.

MCX Commodity Copper Updates and Trading Tips for Today

The downtrend seen in Copper on yesterday has vanished away today due to weakenign dollar. LME copper has reached upto $8000 per tonn. On domestic market also Copper with nearly 1.20% rise, is trading around 409.50. Metals other than copper in base metals is also gained. On MCX, aluminum, nickel, lead and zinc are trading with a rise of more than half per cent.

One can Buy copper above 409.50 for TG- 412.50 Stoploss below 406.