Crude Oil, Base Metal price increased, Gold and Silver weak

commodity-back.jpgCrude oil price raised, in domestic market crude oil gained 0.5% traded near Rs 3420 while at NYMAX crude oil raised 0.5% reached near $52. Actually the number of active ring in US has been reduced to only 760, so it is expected to decrease oil production while Natural gas price reduced. At MCX Natural gas down 1.2% traded near Rs 156.

After bull run of Friday Gold price decline today. In global market Gold price reduced to 0.25%. Gold under pressure due to strong Dollar. Gold price was raised 1% on Friday. Silver traded in narrow range at MCX Gold traded with 0.1% down near Rs 26750 while Silver down 0.2% traded near Rs 36700.

Base Metals are looking positive, due to strong global cues. Copper price raised to increasing demand in european market. At MCX Copper price increased 0.5%, Nickel price increaded 0.1%, Aluminium traded flat while Lead and Zinc price increased 0.2%.

In Agri Commodities Jeera price raised due to low production at NCDEX Jeera gained 3% traded above Rs 17000. Turmeric price increased due to high demand and low production. At NCDEX Turmeric traded near Rs 8300 with 1.5% gain.

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