Silver Updates and Copper Tips for Today

The effect of weak trade in International commodity market is seen in MCX as well. Gold, Silver and Crude oil made a week opening. Crude oil has slipped nearly 1% whereas Silver has weakened more than 1%. MCX silver is facing its immediate support at around 61000 level which is still 600 points away from the current level. Silver needs to remain above 61500 level to sustain the current momentum.
Copper on the other hand is on the gaining streak again. One can buy Copper commodity above 435.50 for the target of 437-438 level. Weakness can dominate this metal only below 428 level.
Commodities guru Jim Rogers says that the commodity boom is not over. Supply will continue to grow rapidly in the commodity market. The economic situation in the world will not improve in 2013-14 but this is not going to affect commodity market.
Jim Rogers believes that the Chinese economy is taking a significant step to improve the agri commodities, gold - silver will continue to accelerate. Russia are also showing signs of improvement.


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