Commodity Market News 12 June 2012
It has been noticed here that there is sudden fall in Gold and Silver in the domestic as well as the International market. The highest price of gold is noticed at Delhi which was around 30150 for 99.99% pure gold. All the commodities like Crude oil, Natural gas and copper lead zinc are trading with moderate fluctuations in the prices.
Here are the mcx ncdex trading tips for today 13 June 2012
With the falling prices of MCX gold we would recommend to Sell it around 29800 levels with a stop loss placed above 29900 levels for targets of 29500 levels.
MCX Silver will be a Buy call above 54800 levels with a stop loss placed below 54400 levels for targets of 55400 levels.
Place a sell call for MCX Copper around 125 levels with a stop loss placed above 129 levels for targets of 119 levels.
Sell MCX Nickel around 957 levels with a stop loss placed above 965 levels for targets of 940 levels.
MCX Lead would be a Buy call around 106 levels with a stop loss placed below 105.20 levels for targets of 107 levels.
Prices of base metal in London Metal Exchange continued in fall trend on Thursday.The base metal prices in London metal exchange met 4 months low.Copper traded steadily, around 4-month lows, as sentiment were cautious given worries that Spain might be hit hard if Greece leaves the euro and defaults on its debt. Global copper market was in deficit of 1,52,000 tons in the first quarter of 2012, as compared to a surplus of 320,000 tons in the year ending CY2011, as per WBMS.
LME Price Highlights:
–Aluminium alloy fell 0.15% to $1882 a metric ton
–Aluminium slipped 0.37% to $1986.50 per metric ton
–Copper dipped 0.02% to $7707 a metric ton
–Lead dipped 2.18% to $1929 per metric ton
–Nickel slipped 0.26% to $16900 a metric ton
–Tin dipped 1.66% to $19445 per metric ton
–Zinc slipped 1.51% to $1883 a metric ton
–Steel eased 6.02% to $429 per metric ton