Thursday, 2 July 2015

Daily Commodity Market News and Trading Tips

Spot gold prices declined by 0.32 percent on Thursday to close at $1168.5/oz as the dollar strengthened and hopes for progress in the Greek crisis revived after the country told international creditors Athens could accept their bailout offer if some conditions were changed.

On the MCX, gold prices declined by 0.23 percent to close at Rs.26411/10 gms.

Spot silver prices lost its value by 1.3 percent on Thursday to close at $15.5/oz. The fall is in tandem with gold prices decline coupled with strengthening dollar.

On the MCX, silver prices declined by 0.34 percent to close at Rs.36034/kg.

Crude Oil
Oil prices declined on Thursday with WTI and Brent falling by 4.2 and 2.5 percent respectively.

On the MCX, oil prices declined by 3.4 percent to close at Rs.3649/bbl.

Natural gas
NYMEX natural gas prices declined by 1.14 percent on Thursday to close at $2.78/MMbtu while MCX natural gas prices also lost its value by 1.28 percent to close at Rs.177.60.

LME Copper prices gained marginally by 0.2 percent on Wednesday buoyed by news that Greek Prime Minister Alexis Tsipras wrote a letter to creditors accepting most of the conditions attached to releasing more bailout cash.

MCX copper jumped by 1.4 percent and closed at Rs.374/kg on Wednesday owing to Rupee depreciation.
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