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Crude oil has recovered strongly. MCX crude oil has gone beyond Rs 6,100. Indeed, even today, crude oil in the international market has grown rapidly. Weakness in the rupee has got support from domestic crude oil. The deepening political crisis in Egypt NYMEX of crude oil has reached the upper end of 14 months. The MCX crude oil is trading at Rs 6105 with 3 per cent, While natural gas has risen 0.5 per cent higher at Rs 220.
Rupee weakness in the domestic market help gold to cure up about 0.5 per cent in today's trading. In the international market Gold has been extremely sluggish today, while MCX silver has gone up by 1 percentage. Notably in the U.S. non-farm payroll data this week is expected. MCX Gold is currently trading at Rs 26184 and silver is trading at Rs 40505.
Weak rupee has recovered strongly in the base metal, while Antrrrashtryy market is idling. With 1.5 per cent on MCX Copper is trading above Rs 423. Aluminum 1 per cent, 0.8 per cent nickel, 0.9 per cent lead and zinc gained 0.75 per cent. The ECB is meeting on Thursday on the London Metal Exchange is idling. MCX due to weakness in the rupee on edge all the metals are traded.
MCX Calls For Today
- MCX Gold (August Futures): Buy - 26190, stoploss - 26100 and the target - 26350
- MCX Silver (Sept Futures): Buy - 40700, stoploss - 40400 and Target - 41100
- MCX Crude oil (July Futures): Buy - 6130, stoploss - 6090 and target - 6200
- MCX Copper (August Futures): Buy - 422, stoploss - 419 and Goals - 426.5
