|MCX Share Price|
Tuesday, October 23, 2012
Posted by Free Intraday Stock Tips 4:45 PM No comments
Decline in crude oil. Crude oil has dropped nearly 1 per cent in the domestic market. On MCX, crude oil prices have come down to Rs 4,800. And $ 89 on the price of crude on Naimaks ICE Brent crude prices have come down to $ 110. Fomsi of today's meeting is about to begin. Market expectations of the meeting is not certain. But on Wednesday the U.S. Energy Department will release inventory data. Natural gas also declined. Natural gas, with a decline of 0.3 per cent on MCX is trading at Rs 185.50.
This year’s annual gathering of producers, consumers, traders and investors during London Metal Exchange week will be remembered for being a sanguine affair. There was an undercurrent of unease amongst market participants, though the takeaway messages from our meetings were not as downbeat as one might have anticipated. The biggest question marks were over the demand outlook. Visibility on order books is very low indeed and there is huge uncertainty around the growth trajectory of China's economy. However, in Barclays' meetings, they noted some improvement in sentiment amongst Chinese participants compared to the previously uniform pessimism.
Demand for metal for financing is very much alive and kicking with many producers, particularly of aluminium, zinc and to a lesser extent copper, reporting healthy demand from traders for financing.
With Gold on the Comex registering a slump in electronic trading,India gold on the MCX too has come down. As the sessions opened gold prices are trading a tad low at Rs.31011, a loss of 0.18% five minutes into the trade. Gold on the Comex is at $1725.65, a loss of 0.04% or of 0.65 dollars.
Gold and silver still continues to fall. The international market is declining slightly lower than the domestic market. Movement of the rupee against the dollar has changed today. Since the beginning rupee has weakened again. With a decline of 0.1 per cent on MCX gold is trading at Rs 31040. While silver dropped 0.2 per cent to Rs 59,500 with doing business.
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