MCX, Gold December contract declined around 0.5 percent and touched an intra-day low of Rs26, 620/10 gms yesterday, But it was on 26750+ in today trading session. While Silver Spot silver dropped by almost 2.5 percent on Thursday, taking cues from fall in gold prices along with dollar strength, silver currently trading in consolidate phase it may move for the level of 580000+ after diwali.
Copper Updates London copper slipped on Wednesday, partially reversing gains of more than 1 percent in the prior session, as anti-austerity protests in Spain revived concerns over the euro zone debt crisis and the demand outlook for industrial metals. The protests in Spain, where the government is likely to set a fresh timetable for economic reforms later this week, highlight the country's financing challenges and stirred doubts among investors about whether it would have the political will to apply for an official bailout. Three-month copper on the London Metal Exchange was down 0.8 percent at $8,210.50 per tonne by 0705 GMT, after rising 1.1 percent in the previous session. In MCX Commodity expert feel copper, Rs 440 per kilogram is holding over the last couple of trading days despite the negative fundamentals. He believes that on the upside, the resistance near Rs 446 per kilogram remains strong.
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