Super Bullion Tips – Page 236

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Oil dips on recession fears but tight supply caps decline…

Oil prices slipped in Asian trade on Friday as recession fears continued to weigh on sentiment, though worries over tight global supplies capped price declines.
Brent crude futures fell 25 cents, or 0.2%, to $104.40 a barrel by 0311 GMT, dropping away after a near 4% rebound on Thursday. U.S. West Texas Intermediate crude slipped 41 cents, or 0.4%, to $102.32 a barrel, having settled 4.2% higher a day earlier.

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Both LME aluminium cash bid price and LME aluminium official settlement price expanded by US$59.5 per tonne or 2.52 per cent on Thursday, July 7, following two consecutive downfalls from US$2,374 per tonne to US$2,358 per tonne.

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Indices trade higher with Nifty around 16,200; L&T, Axis Bank, NTPC top gainers…

Benchmark indices were trading higher with Nifty around 16200.
The Sensex was up 251.74 points or 0.46% at 54430.20, and the Nifty was up 70.80 points or 0.44% at 16203.70. About 1784 shares have advanced, 870 shares declined, and 125 shares are unchanged.

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To reopen the market, the LME proposed a solution: Xiang should strike a deal with holders of long positions to close out his trade. But a price of around $50,000 would be more than twice the level at which he had entered his short position, and would mean accepting billions of dollars in losses.

BASE METAL LIVE NEWS UPDATE BY-www.mcxtradeguru.com CONTACT NO.: 8126416899

metal prices, such as nickel, have been trading lower to the tune of 20–35%, with a few exceptions such as Nickel, which is trading nearly 50% off its recent highs.