Tuesday, June 5, 2012

Commodity Market Updates

Gold advanced along with equities and other commodities on speculation that policy makers from the U.S. to China will take steps to boost their economies after data signaled slowing growth and on signs of robust Chinese demand.
August-delivery bullion gained as much as 0.7 percent to $1,624.80 an ounce. MCX Gold August is currently at `29989, it is trading up by `71 points for the day. Comex Silver is currently trading at $28.36 whereas MCX Silver July is currently trading at `54146, it is up by `307.

Copper advanced for the first time in five days, rallying from the lowest level in more than five months,
MCX copper  is currently trading near 410-411 level.

Brent crude prices rebounded for a second straight session, rising above $99 per barrel on support from a weaker dollar and hopes that the world's leading economies will take new action to tackle the euro zone's debt crisis. Brent crude for July delivery rose 37 cents to $99.22 a barrel. WTI Crude Oil is
currently trading at $84.69 per barrel. MCX Crude Oil May is currently trading at `4717, it is trading up by `56 for the day.


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