Nickel, zinc grow on strong demand today. Nickel prices rose by 0.46% to Rs 680.20 per kg in futures trade on Friday, as speculators engaged in expanding their positions, tracking a firm trend at spot market. At the MCX, nickel for delivery in October advanced by Rs 3.10, to Rs 680.20 per kg in business turnover of 322 lots.
Gold prices held steady today early morning, keeping just above the last session’s 6-week low, aided by a weaker dollar. Spot gold was almost unchanged at USD 1,286.86/ounce on track for a monthly drop of about 2.7%. Gold was also on track for a third consecutive weekly fall, although it looks set to end the quarter up around 3.7%.
Crude palm oil prices weakened by 0.24% to Rs 536.70 per 10 kg in futures market today as speculators booked profit in subdued demand in the spot market. At MCX, crude palm oil for delivery in October fell by Rs 1.30, or 0.24% to Rs 536.70 per 10 kg in business turnover of 203 lots.
The rupee opened at 65.39 a dollar and was trading at 65.35 against the dollar, up 0.25% from its Thursday’s close of 65.51.
Nickel Sep MCX – Buy at 674 TARGET 682, 688 STOP LOSS 665.
BUY SILVER ABV 39770 STOP LOSS BELOW 39550 TARGET 39920-40080. CMP; 39770. MCX.
Copper Nov MCX – Buy at 432.4-432.2 TARGET 436 STOP LOSS 430. CMP 432.65.
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