Precious metals prices are trading lower on COMEX today. 18 Sept. MCX Gold October Contract is looking negative for the day. Bullion largely traded flat before crude oil's sudden drop. Gold demand in India was quiet on Monday as buyers waited for the Indian rupee to stabilise. Gold for October delivery on the MCX was 0.22 percent lower at 31,811. After hitting the high of 32,931/10gms.
Metals prices are trading lower on international bourses. Crude oil prices fell more than 2 percentyesterday. Crude oil prices are trading lower on NYMEX today. We expect a further fall in the prices of crude oil. Copper fell on Tuesday as correction could be seen after the rally boosted by QE3. Three-month copper on the LME closed down 1 percent at $8,302 per ton, after touching a high of $8,386.25.
MCX Gold Oct: Sup- 31720/31640 Res- 31870/32000
MCX Silver Dec: Sup- 63400/63100 Res- 64000/64300
MCX Crude Sept: Sup- 5240/5210 Res- 5320/5380
MCX Copper Nov: Sup- 450/449 Res- 455/457.5
Metals prices are trading lower on international bourses. Crude oil prices fell more than 2 percentyesterday. Crude oil prices are trading lower on NYMEX today. We expect a further fall in the prices of crude oil. Copper fell on Tuesday as correction could be seen after the rally boosted by QE3. Three-month copper on the LME closed down 1 percent at $8,302 per ton, after touching a high of $8,386.25.
MCX Gold Oct: Sup- 31720/31640 Res- 31870/32000
MCX Silver Dec: Sup- 63400/63100 Res- 64000/64300
MCX Crude Sept: Sup- 5240/5210 Res- 5320/5380
MCX Copper Nov: Sup- 450/449 Res- 455/457.5
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