ECB's disappointing decision has affected the Commodity market
also and we can see mix trend in MCX with sluggish movement.MCX
silver has appreciated marginally to trade near 52940 level up 36
points, It may suffer a decline mode if it doesn't sustain above 53000
level.
Gold is trading sideways with slight red mark. Marginal decline of
0.11% has been seen in Gold commodity. As long as Gold prices manage
to stay above 29550 level, we can expect a bounce back recovery in
coming week but below the same, Gold may lose up to 29300-29200
level.
Some spark can be seen in base metals as Zinc and nickel prices
have witnessed some upside. MCX zinc is trading around 102.20 and
expected to trade between 103-104 till today EOD.
Copper may come down to 409 level which is acting as nearest
support for falling prices. One can go for buy around 409 level for
short term target of 416-420 level.
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