Market Update

Market Watch

Monday, 16 June 2014

Watch Afternoon MCX Tips Market Updates by CapitalHeight

MCX SILVER July contract was trading at Rs 42350 up Rs 475, or 1.13 percent. The SILVER rate touched an intraday high of Rs 42434 and an intraday low of Rs 41999. So far 2533 contracts have been traded. SILVER prices have moved down Rs 11073, or 20.73 percent in the July series so far. MCX SILVER September contract was trading at Rs 42539 up Rs 537, or 1.28 percent.
Crude oil futures are trading higher in the Asia electronic trades today extending last week’s 4% rally on escalating conflict in Iraq pushing the cost of oil higher. Oil traders continued to keep a watch on development in Iraq. A radical Sunni militia on Sunday claimed it had executed hundreds of Shiite Iraqi soldiers while it appeared that the U.S.
The energy commodity also got boost last week as the U.S.Energy Information Administration raised its 2014 forecasts for West Texas Intermediate and Brent crude prices.The government agency said it expects WTI prices to average $98.67 a barrel this year.

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