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Monday, 26 September 2016

Commodity Market News, MCX Market Tips


Last week, spot gold prices rose by 1.8 percent to close at $1337.2 per ounce after the U.S. Federal Reserve's decision to keep interest rates on hold sent the dollar to its lowest level since the start of last week. MCX gold prices will trade higher in line with international trends.

On the MCX, gold prices rose by 1.2 percent to close at Rs.31281 per 10 gms.


Spot silver prices rose by 2.7 percent last week to close at $19.7 per ounce in line with rise in gold prices and weakness in dollar index.

On the MCX, silver prices rose by 1.7 percent to close at Rs.46817 per kg.

Daily commodity market news with trading recommendations with accuracy and full support on mcx market tips service.

Crude Oil

WTI oil prices rose by 1.7 percent last week to close at $44.5 per barrel boosted as U.S. government data showed a surprising crude inventory drop. U.S. Energy Information Administration (EIA) showed that crude stockpiles fell 6.2 million barrels last week, bringing the draw to more than 21 million barrels for this month.

On the MCX, oil prices rose by 2.8 percent to close at Rs.2978 per barrel. On the MCX, oil prices are expected to trade higher today as international markets are higher 0.7 percent at $44.80 per barrel.

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