Latest MCX, NCDEX News for Today (2nd August)

Cardamom prices has now reached the mark of Rs 1000 per kg, Earlier this year the Cardamom prices reached a high of Rs 1400 per kg due to the significant decline in the production during last year. Which was again dropped to Rs 800 per Kg on the back of the estimated bumper crop from the good pre monsoon showers.

With the festive season gearing up the demand with the domestic prices has picked up, the export demand is also looking good. Shortfall in production and robust global demand lead to no carryover stock and it is anticipated to keep the the prices ruling high this year.

In MCX segment, Gold has hiked 96 points at 28500 while Silver has lost 235 points at 38277. Crude Oil has dropped 6 points at 3129. In Base Metal sector all the metals are trading with mere profit and losses. Cotton is trading 170 points up at 18540. In NCDEX segment, all the commodities are trading with minor losses.

Today’s Call
Sell Copper cmp 406.80 StopLoss 408 Target 404

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