Volatility may continue in base metals prices

Prices continued to decline except for zinc which remained stable at USD1823/tonne. Copper, aluminium and lead declined 3 percent, 4 percent and 1 percent to USD6751/tonne, USD1731/tonne and USD2058/tonne respectively. "The volatility would continue in base metals prices" .

Gold:-

Gold traders put off purchases; prices at 3 week high...

Gold imports into India, the world's biggest buyer of the metal, fell about 81 percent on month to 31.5 tonnes in June after the government raised import duty and stopped consignment imports.

           The world's biggest buyer of the metal, refrained from stocking up in a seasonally slack demand period, as prices stayed near their highest level in three weeks.

Silver:-

Silver prices today: Updates on silver rates in India

Silver rates in major metros in India declined . 

but MCX Silver September future was trading flat at Rs 40940.

The Silver future rate on MCX touched an intraday high of Rs 41093 and an intraday low of Rs 40674. So far 7499 contracts have been traded. Silver prices have moved down Rs 16379, or 28.58 percent in the September series so far.

Crude oil:-

Here's when high oil prices could really pinch

Brent crude oil prices have risen about 9 percent from a low hit on June 24 to near USD109 a barrel, as unrest in Egypt fueled worries that crucial oil supply routes could be disrupted and helped push prices up

     

The global economy could start to feel the pinch from rising oil prices a further rise of USD10 in crude could shave 0.2 to 0.3 percent off annual global economic growth.

Natural gas:-

MCX NATURALGAS: Natural Gas prices are trading in a Downward Channel forming a series of lower highs and lower lows. At the same time prices have been taking a good support around 210-211 zone since last three months and if the support is breached we will see a sharp fall in natural gas prices all the way to the its immediate support levels of 195-190 zone.

Oscillators like MACD are in a negative territory and, RSI too resisting the falling trend line which supports the downward trend.

Copper:-

Copper futures rise on global cues, spot demand

Supported by a firm global trend and increased domestic demand, copper prices rose by over 1 percent to Rs 416.30 per kg in futures trade today.

Lead:-

The Indian currency reversed its early morning gains by mid afternoon; it depreciated by 10 paise to 59.76 per dollar. This weakness, according to Moses Harding of IndusInd Bank, is due to the currency's fundamental weakness.

The market closed at one month high Thursday with the benchmark indices rising 2 percent, tracking rally in Asian markets after the Federal Reserve chairman Ben Bernanke announced that the Fed is not in a hurry to raise short term rates and that rates will remain low to aid recovery.

Zinc:-

Metals are in a rather poor shape and that shows on the chart of Hindustan Zinc also. It has fallen from Rs 150 to Rs 100 and it is now stable at Rs 100. So whatever the investor haos, one should hold on to it."

The share touched its 52-week high Rs 146.80 and 52-week low Rs 96.20. Currently, it is trading 27.49 percent below its 52-week high and 10.65 percent above its 52-week low. Market capitalization stands at Rs 44,978.52 crore.

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