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Mcx base metal Updates :- Today base metals pack is expected to trade sideways on account of positive global market sentiments coupled with weakness in the DX. However, reports that Chinese policy makers might refrain stimulus measures to boost the economy might put downside pressure on the base metals pack. Appreciation in the Indian Rupee will restrict sharp rise in the prices in the Indian markets.
Crude oil Trend :- crude oil prices to trade on a negative note on the back of unexpectedly rise in US crude oil inventories coupled with decline in gasoline consumption by 0.5 percent. However, sharp downside in prices will be cushioned on account of rising tensions in the Middle East and weaker DX.
Mcx Bullion Strategy For Today :- MCX bullion is trading with upward bias due to upbeat global market sentiments along with weakness in the DX. However, appreciation in the Indian rupee will cap sharp gains in precious metals in the domestic markets.
Gold Tips For Today :- MCX august gold may open today's session near Rs. 29800 with support around Rs.29800 and Rs. 29700 levels. Yesterday, it closed higher by Rs. 267 (0.9%) at Rs. 29,835 per ten grams. Prices rose to a high of Rs. 29,867 per 10 grams and fell to a low of Rs.29,600 per 10 grams during the day's trading.
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