Crude oil prices declined. MCX crude oil and the selling pressure on Naimeks. Despite weakness in the rupee against the dollar in oil pressure could be clearly seen. On MCX, crude oil is trading at Rs 5370 with lethargy.
The crude oil reserves in the United States have seen growth than expected. At the same time Iraq has promised not to close the Strait of Hormuj. Iran's Nuclear Hormuj Progrom and to close the Strait of Iraq next month to have an International Diplomatic Gedring.
Is being witnessed selling pressure on gold. Decline in the international market is seeing an impact on the domestic market. Weakness in the rupee against the dollar from gold is not getting any support. 0.1 per cent fall on MCX gold has come down to Rs 28,500. Rs 56,000 with a decline of 0.15 per cent, while silver is down.
Commodity Markets: Gold - Silver -Crude-Copper -Nickle