Sunday 8 March 2015

Commodity Market News-09 March 2015

Free Commodity Tips

The MCX Natural Gas has widened its losses and touched a low of Rs 172.80 tracking the NYMEX Natural Gas prices.

The Natural Gas has
tumbled nearly 3 per cent to Rs 173.50. The counter has seen trades of around 6,788 contracts on the MCX.

The open interest has jumped over 15 per cent to 8,043.

MCX Crude Oil March future
also started the day in negative zone at Rs 3,120 from its previous close of Rs 3,138.

Currently, the MCX Crude Oil has declined 0.7 per cent at 3,117. The counter has seen trades of around 9,185 contracts.

The MCX April Gold futures witnessed a sharp fall in Friday’s trade and tumbled below the key moving average the 20-DMA (Rs 26,380).

On Friday, the precious yellow metal tested a low of Rs 25,982, before signing off the day with a significant loss of around 2 per cent (Rs 472) at Rs 26,012 owing to weakness in NYMEX Gold prices.

Further decline in MCX Gold futures may take prices towards the lower-end of the Bollinger Band at Rs 25,910-odd level on the daily charts.

The MCX Silver May futures started the day higher at Rs 36,000, soon the future has trimmed early gain and now is marginally down

the Silver price in India touched a high at Rs 36,000, but could not manage to hold the higher point.
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1 comment:

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