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People who have made an entry into the commodity market would definitely at one point in time or other bump into commodity trading. Or at least, they will surely develop an interest when they see the prices of the commodities fluctuate because of the influence of the commodity prices. ShriNam Globe Commodities is a financial services group offering a wide range of services to a diversified client base, an outcome of its expertise in guiding its clients through the financial market.                                 Read more...
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  • SHRINAM GLOBE COMMODITIES 15/04/2014 8:30 AM Copper ended in the sideways trades as the prices yet again failed to cross the resistance. After testing a high of Rs 409.6 per kg prices of Copper settled at Rs 406.8 per kg unchanged from last week. The prices have not been able to cross the trendline that is set at Rs 410 per kg. The session was also affected by the closing of the morning session in Indian exchanges. The prices are moving near to the 10 day Exponential Moving Average set at Rs 405.63. On the support front, Copper is still holding Rs 403 per kg. On COMEX, May expiry Copper was seen at $ 3.029 per pound, down 2 cents.
  • SHRINAM GLOBE COMMODITIES 15/04/2014 9:30 AM MCX Gold managed to cross the resistance of Rs 28844 per 10 grams and closed at a level of Rs 28959 per 10 grams. Having said that closure of Gold below Rs 29000 per 10 grams can be taken as caution. With prices Resisted at Rs 29050 and 29200 per 10 grams, it is interesting to see the moves of the Gold. Supports for MCX Gold are at Rs 28750 per 10 grams. The volumes were quite lower on Monday due to the closing of the morning session trades on MCX. Open interest in Gold was at 9380 on Monday. COMEX Gold has been in red and that can bring correction in Indian prices as well. The June expiry Copper was trading at $ 1321 per troy ounce, down $ 6.5.
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