UPDATE at 4 PM:

GOLD :

Gold Oct Comex future prices were seen trading in a range of $1609-1617 with upside bias. Sustained trades above $1617 would lead the prices to move further high towards $1623 and then $1629 levels. Due to rupee appreciation prices are declining at MCX platform. Sustain above 29900 may possible to recover the positive trend. Expected trading range would be 29860-30020 levels

COPPER :

Copper Aug MCX: A stiff resistance is seen at 418.5 levels, which is likely to limit the upside gains. Only a convincing break above 418.5 would lead the gains towards 420/421 levels. In case prices fail to breach 418.5 then it is likely to resume its downtrend. CMP 417.80

Free Copper Aluminum Ratio Call: Buy 1 lot Aluminum mini (Aug MCX) and Sell 1 lot Copper (Aug MCX) at currency ratio of 4.027 Targeting 3.9/3.6 with Stop loss at 4.1 CMP Aluminum mini (Aug MCX) 103.65, Copper (Aug MCX) 417.75

@ 07.08.12,04:34 PM

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