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MCx Crude OIl Trend with Gold Trend

Crude Oil Trend
Crude oil futures traded higher tracking recovery at the Nymex counter market during the evening hours of trading on Multi Commodity Exchange (MCX) Tuesday. Crude oil gained as euro appreciated against dollar ahead of the European Union's emergency debt crisis summit and on expectations of a drop in US crude oil stockpiles.  


MCX Gold Trend
India gold futures reversed from an early record high on Tuesday afternoon weighed by a stronger rupee, which made the dollar-quoted yellow metal cheaper, but traders sought bigger falls in prices to book deals ahead of the festival season next month.
* The most-traded gold for August delivery on the Multi Commodity Exchange (MCX) was trading 0.11% lower at Rs 23,201 per 10 grams at 2:46 pm, reversing from its record of Rs 23,320 struck earlier.

* The rupee rose in afternoon trades aided by gains in domestic equities and the euro. The rupee plays an important role in determining the landed cost of dollar-quoted yellow metal.  
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