Precious: Yellow metal keeps head above water

In the domestic market Gold futures rose during afternoon trade on Tuesday as investors & speculators extended their positions in the precious metal after easing of US dollar and physical buying in Asia.

However, the expectations of US interest rate rise in near term, kept pressure on gold prices.

At the MCX, gold futures for Dec 2016 contract is trading at Rs 29,184 per 10 grams, upward by 0.17 %, after opening at Rs 29,178, against a last close of Rs 29,135. It touched the intra-day higher of Rs 29,224.

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Yellow Metal down on strong US dollar in market

In the domestic market Gold futures closed low on Thursday among a rallying U.S. dollar index & upbeat U.S. economic data which continued to produce selling in the precious metals markets.

The weekly U.S. jobless claims report Thursday showed a sharp fall in claims in the latest week and added to a batch of generally better U.S. data released this week and helped to push gold prices to new low.

 At the MCX, gold futures for October 2016 contract ended at Rs 29564 per 10 grams, downward by 1.18 %, after opening at Rs 29,835, against a previous close of Rs 29,916. It touched the intra-day low of Rs 29,550.

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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 poised for sixth straight weekly Drop

Gold tips - Gold dipped towards its lowest level in nearly six years on Friday and was on track for a sixth straight weekly decline, weakened by a robust dollar and expectations of a US interest rate hike next month. The dollar is trading near an eight-month high against a basket of major currencies, boosted by euro weakness and prospects of higher US rates. The Federal Reserve is widely expected to hike US rates for the first time in nearly a decade when it meets next in December. Investors believe higher rates could dent demand for non-yielding bullion, while boosting the dollar. "Once again, gold is unable to find a bid. Any small rally that we see is being sold into," said a Sydney-based precious metals trader.
 

China's net gold imports from main conduit Hong Kong fell in October from a 10-month high reached in the previous month, data showed on Thursday. Investor sentiment was weak with precious metals funds posting their biggest net outflow last week in around four months, according to Bank of America Merrill Lynch. Among other precious metals, silver, platinum and palladium were all heading for weekly declines.

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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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Gold Prices Closed Higher in the Domestic Market on Tuesday

Gold prices closed higher in the domestic market on Tuesday in the midst of a flat dollar, as widespread concerns related to economic growth in China and the timing of an interest rate hike by the Federal Reserve remained in focus. Federal Reserve Bank of St. Louis president James Bullard stood firm on his position that economic conditions nationwide are strong enough to allow the Federal Open Market Committee to approve an initial rate hike. Gold is not attached to interest rates and struggles to compete with high-yield bearing assets in rising rate environments. Investors also continued to digest relatively hawkish comments from a host of central bankers over the weekend at the International Monetary Fund's Annual Meeting in Lima, urging the Fed to stop putting off an initial rate hike. At the MCX, Gold futures for December 2015 contract closed at Rs 26,979 per 10 gram, up by 0.71 per cent after opening at Rs 26,725, against the previous closing price of Rs 26,788. It touched the intra-day high of Rs 26,026.

 

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Gold Notched up Impressive Gains in the Domestic Market

The yellow metal notched up impressive gains in the domestic market on Monday as investors and speculators booked fresh positions in Gold as tepid US jobs data for September pushed back bets of a hike in interest rates by the US Federal Reserve, bolstering the lure for the bullion as a store of value.

American employers added fewer than expected jobs in September while wages grinded to a halt and factory orders fell in August, a sign that the global financial rout has reached the shores of the US economy, prompting the case for the Fed to delay tightening policy until next year.

Non-farm payrolls in the US advanced by 142,000 in September, following a downwardly revised 136,000 gain in August from 173,000 reported earlier, while wages were little changed.

Further, hopes that China may announce fresh policy easing to stem a worsening slowdown in the world’s second biggest economy following a reduction in the country’s growth estimates by the World Bank also augured well for gold, a hedge against the inflationary risk of monetary stimulus.

Gold futures may extend a rally today amid bets that global monetary policy may remain accommodative to prop up sluggish growth.

At the MCX, Gold futures for Oct 2015 contract closed at Rs 25,953 per 10 gram, up by 0.70 per cent after opening at Rs 26,173, against the previous closing price of Rs 25,773. It touched the intra-day high of Rs 26,201.

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MCX Commodity Market News Updates Today 28 March 2013

Bullion: Gold futures were trading up on the local bourses tracking the COMEX futures that came under pressure after investors booked profits ahead of the Easter holidays this week. In the short term, the gold price is likely to be driven largely by news of developments in Cyprus. Silver futures were down on local exchanges due to weakness in COMEX futures. On COMEX, silver futures fell tracking the weakness in base metals. 

Metals: Base metals on MCX were trading lower tracking the same movement in the LME. Base metals are mostly lower on the London Metal Exchange Wednesday, drifting in thin trade as euro-zone jitters continue to depress investor sentiment.

Energy: Domestic crude oil futures were trading higher tracking gains in benchmark contracts on the New York Mercantile Exchange. The U.S. Energy Information Administration said commercial crude-oil stockpiles rose by 3.3 million barrels last week, surprising analysts that had expected a more modest 700,000-barrel increase and sending total stocks to a nine-month high of 385.9 million barrels. 

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MCX Silver Tips, MCX Gold, Copper Updates, Crude Updates 23 march 2012

Today MCX commodity market is trading totally opposite as compare to yesterday. Today Bullion metals MCX Gold and Silver are trading at positive note. Gold may touch the levels of Rs. 28,000 and Silver is trading in the range of Rs. 56,400-56,600. All base metals are trading on a positive note today. Support for April copper is seen at Rs.426 while resistance is seen at Rs.436. In Energy Crude oil is trading at positive price and natural gas is trading at negative price. Crude oil is trading in the range of Rs. 5420-5460 today. We expect that all may trade same for the day.

MCX Commodity Updates on Mobile CLICK HERE Crude Updates

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MCX Silver Tips ~ Commodity Market Updates Today

Precious metals are trading flat on MCX today. Gold is trading in the range of Rs. 27,750-27,900 and silver is trading in the range of Rs. 56,600-56,800. We expect prices to trade lower for the day. All base metals are trading lower on International bourses today. We expect prices to trade lower for the day. Support for April copper is seen at Rs.426 while resistance is seen at Rs.436. Crude oil is trading lower on MCX today. It is trading in the range of Rs. 5400-5500. We expect prices to trade lower for the day.

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MCX Intraday Tips ~ Commodity Market Updates Today 21 March 2012

MCX Silver Tips, MCX Gold:
Gold futures may trade on positive path tracking firm international markets while depreciation in local currency will also support domestic gold prices. Gold can trade in range of 27,750-28,000 while silver in range of 56,000-57,500. Gold prices edged higher on Wednesday after dropping nearly 1% in the previous session.

MCX Base Metals Tips, Copper Updates:
Base metals may witness some short covering after sharp selling pressure yesterday. Copper may trade in range of 428-435 while lead can trade in range of 101-103.50 and zinc in range of 101.50-103.50. Support for April copper is seen at Rs.426 while Resistance is seen at Rs.438.

MCX Energy Tips, Crude Updates:
Crude oil may witness some short covering after yesterday selling pressure and can trade in range of 5,350-5,450 while NYMEX crude can trade in range of $106-107.50 in near term.

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MCX Silver Tips, Copper Updates, NCDEX Live, MCX Gold Today

Gold futures may remain on weaker path tracking subdued international markets. Gold can trade in range of 27,750-28,000 while silver in range of 57,000-57,500. Base metals may remain in range with some profit booking can be seen at higher levels. Copper may trade in range of 430-438 while lead can trade in range of 103.5-106 and zinc in range of 102.50-105.50. Crude oil may witness some profit booking at higher levels and can trade in range of 5,400-5,550.

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MCX Gold ~ Intraday Commodity Market Updates Today 19 March 2012

MCX Bullion Tips (MCX Gold, Silver Trend):
Precious metals are trading higher on MCX commodity market today. Gold and Silver both are trading at lower prices today. Gold is trading in the range of Rs. 27,700-27,900 and Silver is trading above Rs. 57,000. We expect prices to remain under pressure.

MCX Base Metals Tips (Copper Updates):
Industrial metals are trading lower on International bourses today. Copper is trading in the range of Rs. 428-435. We expect prices to trade lower for the day on account of worries over the demand outlook for top consumer China.

MCX Energy Tips (Crude Updates):
Crude oil is trading higher on MCX today. Crude oil may touch the levels of Rs. 5500 in upcoming trading session. We expect prices to trade higher for the day.

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Copper Updates Today ~ MCX Intraday Updates 16 March 2012

Precious metals are trading higher on MCX commodity market today. We expect prices to trade range bound with a positive bias for the day. Gold may touch Rs. 28,000 and Silver may go down and touch Rs. 57,000 in upcoming trading session.  All base metals are trading on a flat note today. Industrial metals are trading lower on International bourses today. We expect prices to trade lower for the day on account of worries over the global growth. MCX Copper is trading in the range of Rs. 432-436 today. Crude oil is trading higher on MCX today. We expect prices to remain under pressure on account of possibility of a release of strategic oil reserves. It is trading in the range of Rs. 5280-5320 in today's trading session.

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Copper Updates ~ MCX Commodity Tips Today 15 March 2012

Bullions: Gold futures may witness some short covering after yesterday selling pressure but overall the sentiment will remain subdued. Gold price can trade in range of 27,300-27,700 and silver in range of 57,000-58,000.

Base Metals: Base metals may trade sideways with negative bias. Copper may trade in range of 426-432 while Lead may trade in range of 104.50-107 and zinc in range of 102.50-104 in near term. Support for April copper is seen at Rs.421 while resistance is seen at Rs.434.

Energy: Crude oil can also trade with mixed bias with lack of clear direction. Crude oil prices can trade in range of 5,300-5,400. Oil traded near the lowest price in more than a week after U.S. crude stockpiles rose and Saudi Arabia pledged to make up for any shortage in Iranian shipments.

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MCX Intraday Tips ~ Commodity Market Updates, NCDEX, MCX Gold 14 March 2012

MCX Gold and Silver are trading at negative prices today. MCX Gold is trading in the range of Rs. 27,400-27,600 and Silver is trading in the range of Rs. 57,700-58,000. All base metals are trading on a negative note today. Support for April copper is seen at Rs.424 while resistance is seen at Rs.434. MCX Crude oil is trading in the range of Rs. 5310-5350. MCX natural gas may touch the levels of Rs. 115 in upcoming trading session. We expect that all may trade same for the day.

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