MCX Expert Tips

MCX SILVERMIC February contract was trading at Rs 56577.00 down Rs 261.00, or 0.46%. It touched an intraday high of Rs 56820.00 and an intraday low of Rs 56480.00
Gold demand in India, the world's buyer of bullion, edged up as a stronger rupee made the dollar-quoted yellow metal cheaper.
The most-active gold for February delivery on the Multi Commodity Exchange (MCX) was 0.06% lower at Rs 28,066 per 10 grams, after hitting a low of Rs 27,998 earlier.
"Demand is pretty good as rupee is favouring," said a dealer with a private gold importing bank in Mumbai.
The Indian rupee, which rose past 49 to the dollar in early trading, plays an important role in determining the landed cost of the yellow metal.
The wedding season is under way in India and will last till May. There are a few festivals also during this period.
Silver for March delivery on the MCX was down 0.49% lower at Rs 56,556 per kg.

Commodity Rs (%Chg) Unit
Gold - 4 Feb 28155.00 (0.26%) 10 grams
Silver - 5 Mar 57226.00 (0.69%) kg
Crudeoil - 20 Feb 4725.00 (2.80%) barrel
Naturalgas - 24 Feb 123.80 (3.60%) mmbtu
Copper - 29 Feb 411.40 (1.74%) kg