July 07, 2011

MCX News for 07 July | MCX Online Rates for 07 July

Copper MCX prices were seen under pressure since the start of the quarter and they are seen traded below $8700 per tonne but bounced back sharply from those levels. In absolute terms, this quarter Copper has given a negative 3 percent to the investors. And a negative 5 percent return since the start of the year. MCX India index report for Silver MCX is that silver has  resumed yesterday’s short covering rally gaining over 1%, while gold’s gain was modest at 0.30%. Crude oil MCX performance is muted. MCX index for Gold price has rose to 0.6% as concerns due to Chinese monetary and Greece debt rollover the buying sentiment for the precious metal is uplifted.

MCX News Main Heads 07 July
>>LME Copper recovers from intraday low to trade above $9500/ton.
>>Choppy equity markets weigh in copper prices while supply concerns limit downside.
>>The US dollar index trades marginally lower today after a 0.5% rise yesterday 
>>Asian equity markets trade mixed after flat close in US markets yesterday.
>>US orders for manufactured goods rose by 0.8% in May to $445.29 billion 
>>Demand for commodities from Southeast Asia is picking along with China, says Brazilian miner Vale.
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