Tuesday, 7 June 2011

MCX Tips for 7th Jun | Free Mcx Tips | Bullion Tips For today


Gold futures traded positively, as jitters about the strength of the global recovery supported buying in the traditional safe-haven asset.

Gold holdings of SPDR gold trust, the largest ETF backed by the precious metal, declined to 1,212.87 tons, as on June 1.
Silver holdings of ishares silver trust, the largest ETF backed by the metal, declined to 9,885.4 tons, as on June 3.
The dollar index, which measures greenback s performance against a basket of six rival currencies traded at 73.753, compared with 74.301 in North American trade late Thursday.

The euro dipping below $1.46, after a spokesman from the German finance ministry said a second aid program for Greece was not yet certain.

Copper prices closed slightly higher, on supply concerns from key global producers like Chile and Peru.
Copper futures for July delivery closed slightly higher at 4.140 per pound on the COMEX metals division of the New York Mercantile Exchange.

Zinc inventories tracked by the London Metal Exchange climbed the most in almost 3- weeks, driven by inflows at New Orleans warehouses.

Stocks increased to 866,875 tons, the highest level since June 1995.

Orders to remove aluminum from warehouses,or canceled warrants climbed 15,125 tons to 529,775 tons, the highest level since at least October 1997.

Crude oil prices traded under pressure, ahead of an OPEC meeting later this week and weighed by growing signs that high prices are destroying energy demand in the West.

Oil futures fell below $100 per barrel, closing at the lowest price in 2-weeks on expectations that OPEC will raise production targets at its meeting this Wednesday in Vienna.

Natural gas futures climbed to their highest levels in more than 10-months, as a heat wave across the eastern US boosted the demand outlook for the power-plant fuel

Global natural gas usage may rise more than 50% by 2035 to overtake coal as the second- most used fuel, as per the International Energy Agency report.

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