MCX Tips For today 15 Jun| Commodity Tisp For today Wednesday

MCX,COMDEX opened on a positive note after a rise of 24.36 points, or 0.72% on Tuesday. It is currently trading higher by 7.04 points, or 0.21%, at 3,424.25 at 10.04 a.m. after opening at 3,418.36.

Other index like MCXMETAL is trading upward by 7.64 points, or 0.17%, at 4,462.82 after opening at 4,458.15. MCXAGRI is trading up 5.25 points, or 0.21%, at 2,557.27 after opening at 2,554.02. Meanwhile MCXENERGY is trading up 8.05 points, or 0.26%, at 3,161.61 after opening at 3,160.43.

Gainers at the MCX were COTTON CAKE AKOLA - August contract, (3.01%) with open interest of 5, Cardamom - July contract, (1.64%) with open interest of 108, Wheat - September contract, (1.38%) with open interest of 13, COPPER1KG - August contract, (0.74%) with open interest of 22,010, and Wheat - August contract, (0.68%) with open interest of 450.

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MCX Tips | MCX News Gold Goes Low

Gold edged lower Wednesday mainly on weak economic reports from the US while a rebounding dollar also hit the precious yellow metal.


Spot gold was seen trading at $1540.81 an ounce at 1.00 p.m Singapore time while US gold for August delivery was at $1542.02 an ounce on the comex division of Nymex.


Analysts said the yellow metal is likely to ease further during the day as euro debt concerns eased while US Fed chairman’s remark on country’s economy might be another aspect to influence its movements.


The Federal Reserve has said it will stop buying Treasuries as part of its so-called quantitative easing program at the end of the month.


The Federal Reserve has said it will stop buying Treasuries as part of its so-called quantitative easing program at the end of the month.


They however said the dollar index, DXY which rebounded from a one-month low hit on Bernanke's comments temporarily affected its appeal.


Meanwhile, spot silver lost as much as 1.2 percent to $36.66, before rebounding slightly to $36.83.


Silver, which leads the precious metals complex with a near 20-percent year-to-date rise, is expected to outperform other precious metals over the long term, as investors may continue to favor its leverage to gold, said Austria-based hedge fund Superfund.


On Tuesday, gold futures fell from a five-week high as European debt concerns eased, eroding the appeal of the precious metal as a haven. Silver futures for July delivery rose 26.4 cents, or 0.7 percent, to $37.046 an ounce on the Comex.

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MCX Tips For News For 3 jun

A divergent trend developed in the bullion market on Thursday as silver plunged by Rs 1,500 to Rs 56,000 per kg on selling by stockists and gold recovered by Rs 120 to Rs 22,820 per 10 grams.

Gold gained on fresh buying by retailers for the ongoing marriage season and wiped off most of the previous day''s losses.

Silver coins followed suit and nose-dived by Rs 4,500 to Rs 61,000 for buying and Rs 62,000 for selling of 100 pieces.

A similar trend overseas further fueled the trading sentiment in the national capital. While gold rose by USD 4.80 to USD 1,539.10 an ounce and silver plunged by 4.29 per cent to USD 36.82 an ounce in New York.

On the domestic front, silver ready tumbled further by Rs 1,500 to Rs 56,000 per kg. It had lost Rs 800 on Wednesday

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