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Mcx Tips for 6 July 12

DOLLAR: Against the yen, the dollar was barely changed at 79.94 yen having reached a two-week high of 80.099 overnight.

EURO: The euro dropped to $1.2364 and A$1.2015,after the ECB expectedly cut interest rates, It was last at $1.2382, down 0.1 percent on the day.

U.S.CRUDE: U.S. crude was down 30 cents at $86.92 a barrel as of 0032 GMT after closing down 44 cents at $87.22 in the previous session.

BRENT CRUDE: Brent crude lost 70 cents at $100 a barrel, after closing at $100.70 a barrel, gaining 93 cents. Both U.S. crude and Brent are on track for a more than 2 percent increase this week.

GOLD: Gold inched up on Friday, on course for a second straight week of gains, as investors await the all important U.S. June employment report to gauge the health of the world’s top economy for trading cues.

SPOT GOLD: Spot gold crept up 0.1 percent to $1,606.10 an ounce by 0037 GMT, on course for a weekly rise of half a percent.

U.S.GOLD: U.S. gold futures contract for August delivery  edged down 0.2 percent to $1,606.70.

Commodity Market Outlook :06-07-2012

• Gold inches up ahead of US jobs report
• The euro struggled at five-week lows
• U.S. stocks edged down on Thursday
• US crude down after weak data
• Copper flat on caution over industrial demand

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