Latest MCX And NCDEX Updates

Latest Miscellaneous News From Commodity Market

 

• Copper futures extend negative trade on MCX

Copper futures traded down on Tuesday on weak demand. Speculators continued to square off positions in domestic as well as global markets, after a preliminary reading of China's manufacturing in April trailed estimates, raising demand concern in the biggest consuming nation, leding to the fall in copper futures prices. 

• Gold Drops In Europe Session

Gold futures dropped in the European session today after trading moderately higher in the Asia trading hours. The metal again tripped lower following the weak china manufacturing data.
Gold for June delivery fell $11.1 to $1,410.1 an ounce on the Comex division of the New York Mercantile Exchange. In Asian trading, gold reached $1,426.40 an ounce, its highest level since April 12. On Monday it marked the third consecutive session of advances, rising $25.60, or 1.8%, to $1,421.20 an ounce.

NCDEX Market News-

• Sell Jeera, Chilli; buy Wheat: Geojit Comtrade
  
  
  

Jeera May NCDEX: If prices break below the support of 13000, could see downfall towards 12750.

• Chilli Jul NCDEX: It has to break below 6500 for a deep correction to 6430 levels.

• Wheat May NCDEX: Bullish momentum could persist after a mild lower correction towards 1490.
  
  Pepper May NCDEX: Prices witnessed a higher level selling and at the end of the day settled at 35300 levels. For the day, if unable to trade above 36150, negative bias would continue targeting 35000 followed by 34800/34500 levels
  
  
  
  
  
  

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