White metal jumps on firm global signs in market

Silver futures closed high in the domestic market on Tuesday after participants raised their bets amid firming global trends. Analysts imputed the hike in silver prices at futures trade to a firming trend in the precious metals overseas.

At the MCX, silver futures for Dec. 2016 contract closed at Rs 42,433 per kg, upward by 0.89 %, after opening at Rs 42,151, against a last close of Rs 42,058. It touched the intra-day high of Rs 42,458.

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Silver jumps on firm global signs in market

In the domestic market Silver futures closed high on Wednesday after participants raised their bets amid firming global trends. Analysts attributed the hike in silver prices at futures trade to a firming trend in the precious metals overseas.

At the MCX, silver futures for Dec. 2016 contract closed at Rs 42,200 per kg, upward by 0.06 per cent, after opening at Rs 42,185, against a last close of Rs 42,175. It touched the intra-day high of Rs 42,477.

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Gold Futures Surged By Over 1 % in the Domestic Market

Bullions Tips - Gold futures surged by over 1 per cent in the domestic market on Friday as a sharp depreciation of the Indian rupee, which tumbled to a two-year low against the greenback, magnified the gains in the yellow metal, which advanced modestly in the overseas market.

 

A weaker rupee against the US dollar pushed up prices of the bullion in the domestic market.  Gold ended modestly higher in the overseas market as a weaker dollar and plunging equities bolstered the appeal of the bullion as an alternative asset. Weaker greenback makes gold cheaper for those holding other currencies, thus bolstering demand.
 

The gains in the bullion were curbed by fears that plummeting oil prices which hit a fresh seven-year low may reignite the risk of deflation, denting the appeal of Gold, a hedge against inflation.
 

Upbeat US economic data amidst a rebound in US wholesale inflation and a pickup in retail sales bolstered the case for the US Fed to raise interest rates for the first time since 2006, this week, dimming the lure for the bullion as a store of value, trimming gains in Gold futures in the overseas market.
 

While US retail sales climbed by 0.2 per cent in November 2015, the most in four months, producer prices increased the most since June, up by 0.3 per cent in November 2015 from October when they fell 0.4 per cent.
 

Gold may succumb to fresh losses today as traders remain anxious ahead of the two-day Fed meet that begins tomorrow.
 

At the MCX, Gold futures for February 2016 contract closed at Rs 25,679 per 10 gram, up by 1.03 per cent after opening at Rs 25,357, against the previous closing price of Rs 25,418. It touched the intra-day high of Rs 25,714.

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Gold futures Closed with Slim Losses in the Domestic Market

Bullions Tips - Gold futures closed with slim losses in the domestic market on Tuesday as bullion traders stuck to the sidelines ahead of the much anticipated two-day US Federal Reserve monetary policy meet on December 15-16, in which the world’s top central bank is almost certain to lift interest rates for the first time in almost a decade, dimming the lure for the precious metal as a store of value.

Last week’s upbeat jobs data which signaled the momentum in US labour market recovery bolstered the case for monetary tightening while most Fed officials have also dropped strong hints that the world’s leading central bank is all set to exit the era of zero interest rates.
 

Gold, a non-interest bearing asset loses sheen in a rising interest rate scenario.
Plunging oil prices, which hit a seven-year low earlier this week dented gold’s appeal as an inflation hedge while concerns that demand from China, one of the biggest bullion consumers in the world, may weaken early next year amidst a worsening slowdown, indicated by Tuesday’s tepid trade data, also weighed on the yellow metal.
 

However, gold received some support from a global equity sell-off and a weaker dollar which bolstered the appeal of the bullion as an alternative asset. Weaker greenback makes gold cheaper for those holding other currencies, thus bolstering demand.
 

Gold may trade on a cautious note today amidst speculation of a US rate hike next week. At the MCX, Gold futures for February 2016 contract closed at Rs 25,526 per 10 gram, down by 0.10 per cent after opening at Rs 25,500, against the previous closing price of Rs 25,552. It touched the intra-day low of Rs 25,387.

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Gold Extends losses on Fed fears in the Domestic Market

Mcx Commodity tips - The President of the Federal Reserve Bank of San Francisco John Williams has reiterated the case for raising interest Values next month, for the first time in nearly a decade, assuming economic data remained encouraging.

Minutes from the US Fed’s newest meeting, released last week, showed that most policymakers thought it may be appropriate to raise borrowing costs next month.

A stronger dollar also curbed the lure for Gold as an alternative asset. Stronger dollar makes Gold more profitable for those holding other currencies, thus dimming demand.

Gold may remain lower today as traders resort to a cautious approach ahead of the US Q3 GDP data.

At the MCX, Gold futures for December 2015 contract closed at Rs 25,165 per 10 gram, down by 0.31 per cent after opening at Rs 25,183, against the previous closing price of Rs 25,243. It touched the intra-day low of Rs 25,081.

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Gold Pares Gains As focus Back on US rate Hike Expectation

 

Gold pared gains on Monday, after an initial flow of safe-haven buying following the attacks in Paris slowed down and investors' focus returned to expectations for the US Federal Reserve to raise interest rates in December.

Spot gold rose as much as 1.4 per cent to a 10-day high of $1,097.90 an ounce, and was up just 0.1 per cent at $1,083.76 at 2:01 p.m. EST (1901 GMT), hovering above last week's six-year low at $1,074.26.

US gold futures for December delivery settled up 0.3 per cent at $1,083.60 an ounce.

Gold opened higher early this morning on the back of what happened over the weekend on perceived geopolitical risk, but it seems to be already short-lived because the bigger macroeconomic issues are the dollar's strength and the (expected) US rate hike,

Gold is typically seen as a safe investment during times of uncertainty. However, there has not been an increase in demand from retail investors since the Paris attacks, German coin dealer Degussa said in an emailed statement.

The Dollar rose against major currencies and US and European equity markets gained modestly, as markets grew more convinced the Fed will raise interest rates next month and investor worries faded over Friday night's attacks in Paris.

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Gold retained Small overnight gains on Wednesday,

Gold retained small overnight gains on Wednesday, but caution prevailed ahead of a Federal Reserve policy statement later in the session as investors waited for clues on the timing of a US rate hike. Spot gold was little changed at USD 1,167.05 an ounce by 0308 GMT. The metal had risen 0.3 percent in the previous session, snapping a four-day losing streak.
 

Many traders chose to stick to the sidelines ahead of a Fed statement at 1800 GMT following a two-day policy meeting. The US central bank is not expected to raise rates on Wednesday, but markets will be eyeing the statement for the Fed's take on the US and global economies, and whether it could hike rates at its next meeting in December.
 

Gold has been supported in recent weeks on rising speculation that the Fed will delay its first rate hike in nearly a decade to next year due to concerns over global growth and the impact on the US economy. The Fed had refrained from raising rates last month, citing global concerns. Fed Chair Janet Yellen has since said the bank would still increase rates this year, though some other policymakers have said otherwise. Bullion has been weighed down all year by uncertainty over the timing of a rate hike. Ultra-low rates boost the appeal of non-interest-paying gold.


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Gold futures Ended Lower in the Domestic Market

Gold futures ended lower in the domestic market on Monday tracking a bearish trend in the overseas market led by profit-booking by investors and speculators in the precious metal following a recent rally amidst speculation that the US Federal Reserve may push back the timeline for a maiden interest rate hike in almost a decade due to global headwinds which threaten to crimp growth in the world’s biggest economy, bolstering the lure for Gold as a store of value.
 

Stronger dollar also curbed the appeal of Gold as an alternative asset. Stronger greenback makes the bullion more expensive for those holding other currencies, thus dimming demand.
 

However, the losses in the bullion were trimmed by speculation that China may up stimulus after growth slipped to the weakest since the global financial crisis in Q3 2015, bolstering the outlook for the bullion, which is a hedge against the inflationary risk of monetary stimulus.


Gold may trade on a cautious note today ahead of US housing data and Fed Chair Janet Yellen’s speech in which she may offer some cues over the timing of a US rate hike.


At the MCX, Gold futures for December 2015 contract closed at Rs 27,006 per 10 gram, down by 0.53 per cent after opening at Rs 27,111, against the previous closing price of Rs 27,150. It touched the intra-day low of Rs 26,922.   

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MCX Gold, Silver, Copper, Crude, Natural Gas trading tips today

MCX Bullion metals both MCX Gold and MCX Silver trading at lower levels. Downside may pressure may remain on gold and silver futures in today`s session tracking weakness prevailing in international markets. MCX Gold is traing near Rs. 26,000 and MCX Silver is trading around Rs. 52,000.

If we talk about base metals in MCX all base metals is trading at lower price today. Base metals pack may remain sideways. Copper futures may feel some downside pressure. Crude oil futures may trade rangebound. In MCX Energy products MCX Crude Oil and Natural Gas is also trading at lower price.

• NYMEX crude slips more than $1 Wednesday after 5.2% gain yesterday. 
• NYMEX natural gas trades weaker after 1.2% gain yesterday. 

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