Swapnil Diwanon Friday, September 7, 2012
effect of weak trade in International commodity market is seen in MCX
as well. Gold, Silver and Crude oil made a week opening. Crude oil
has slipped nearly 1% whereas Silver has weakened more than 1%. MCX
silver is facing its immediate support at around 61000 level which
is still 600 points away from the current level. Silver needs to
remain above 61500 level to sustain the current momentum.
on the other hand is on the gaining streak again. One can buy Copper
commodity above 435.50 for the target of 437-438 level. Weakness can
dominate this metal only below 428 level.
guru Jim Rogers says that the commodity boom is not over. Supply
will continue to grow rapidly in the commodity market. The economic
situation in the world will not improve
is not going to affect commodity market.
Rogers believes that the Chinese economy is taking a significant step
to improve the agri commodities, gold - silver will continue to
accelerate. Russia are also showing signs of improvement.
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