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Today Mcx Market News Updates

Gold likely gained support at $1,083.50, the low from July 20 and was met with resistance at $1,103, the high from July 31.

Silver for September delivery jumped 0.152 or 1.04% to 14.705 an ounce.

Copper for September delivery fell 0.005 or 0.22% to 2.343 a pound.

Crude output for the week, meanwhile, rose by 52,000 barrels to 9.465 million barrels per day, following three previous weeks of weekly draws. U.S. crude production remains near its highest level in more than 40 years.

On the Comex division of the New York Mercantile Exchange, gold for December delivery traded in a range between $1,082.70 and $1,092.70 in Thursday’s session before settling near the session highs at $1,092.20 at the close.

On the New York Mercantile Exchange, WTI crude for September delivery traded between $44.20 and $45.27 a barrel, before settling at 44.70, down 0.45 or 1.01% on the session.

Meanwhile, the spread between the international and U.S. benchmarks of crude stood at $4.90, below Wednesday’s level of $4.46 at the close.

MCX GOLDM September contract was trading at Rs 24594 down Rs 2, or 0.01 percent. The GOLDM rate touched an intraday high of Rs 24630 and an intraday low of Rs 24530. So far 3294 contracts have been traded. GOLDM prices have moved down Rs 2404, or 8.90 percent in the September series so far.

MCX SILVERM August contract was trading at Rs 33460 down Rs 29, or 0.09 percent. The SILVERM rate touched an intraday high of Rs 33550 and an intraday low of Rs 33401. So far 6323 contracts have been traded. SILVERM prices have moved down Rs 6540 or 16.35 percent in the August series so far.

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