There is a great strength of the rupee against the dollar. 1 dollar price has come down to 58.5 Rupee reached at 11-month high. Of course it have gained in hopes of a stable government. Although the robustness has had a major impact on the domestic commodity markets.
Light edge in gold today. The price of silver is up 0.5%. But in the last 10 days, about 3.5% in gold, and silver has lost nearly 4.5 per cent. Of course it has the effect of rupee strengthening.
Base metals boom has had an impact on silver prices. MCX silver price has increased by nearly 1 per cent. In the international market, silver is trading up about 1.5 per cent.
With nearly 0.5% growth on MCX gold is trading around Rs 28,200. MCX crude oil rose nearly 0.5% to exceeded at Rs 6,000 . Natural gas prices were 0.5 percent higher over Rs 260. All base metals except aluminum metal are in green.
BY KheloMCX Research Services