MCX | NCDEX Tips And Market News

Gold running out of steam

MCX Gold futures are trading in red, witnessing some profit selling as the metal turned under $1470 per ounce, easing after the recent gains in the international markets.

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Copper on a elevated platform on tuesday

Copper prices are trading on a elevated platform on London Metal Exchange after a extended weekend on Bank holiday in London.

 

The prices were seen on a upward trajectory after a declining jobless claims numbers in the US provided support.

Maize to decline further

Maize futures to decline further in the near term due to fresh supplies of new maize in Bihar along with weak demand of poultry players in local mandies.

The NCDEX shrugged off by more than 1 per cent in the last trading. As per market sources, fresh arrivals of around 1-1.20 lakh bags of maize were reported in the major mandies of Bihar with the price range of Rs 1240-1350 per quintal . 

While the other producing states have reported the total daily arrivals of 4-5 thousand bags with the price range of Rs 1150-1250 per quintal.

Castor seed to remain underpressure

Selling is likely to continue in castor seed futures today due to surge in fresh arrivals of castorseed in Gujarat mandies along with prospects of better monsoon in the current year.

The NCDEX futures wilted almost Rs 70 per quintal in the last trading.

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