Yellow Metal up as US dollar eases in market

On Tuesday Gold futures closed high in the domestic market as strength in the British pound helped the U.S. dollar ease back from current multimonth highs.

Signs of a pickup in inflation, which tends to be supportive for gold, also gave the metal a lift.

At the MCX, gold futures for December 2016 contract ended at Rs 29776 per 10 grams, upward by 0.24 %, after opening at Rs 29,750, against a previous close of Rs 29,705. It touched the intra-day higher of Rs 29,840.

 

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Today Gold rises on Fed decision in demand

Gold futures were trading high during the morning trade in the domestic market on Thursday as investors & speculators build up fresh positions in the precious metal after the August US Fed meeting on Wednesday in which it kept key rates unchanged.

The US central bank hold interest rates unchanged at 0.25 % to 0.50 %. On the other hand, the Bank of Japan had adopted a target for long-term interest rates in its meeting on Wednesday.

At the MCX, gold futures for October 2016 bond is trading at Rs 31,283 per 10 grams, up by 0.25 %, after opening at Rs 31,250, against a previous close of Rs 31,205. It touched the intra-day high of Rs 31,284.

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Gold Futures Scored Modest Gains in the Domestic Market

Bullions Tips - Gold futures scored modest gains in the domestic market on Wednesday as investors and speculators booked fresh positions in the metal tracking a bullish trend in the overseas market as a sell-off in global equities, coupled with a weaker dollar bosst the appeal of the bullion as an alternative asset.

Weaker greenback makes the yellow metal cheaper for those holding other currencies, thus boosting demand.  However, the gains in the bullion were trimmed by fears that plummeting oil prices may further weaken global inflationary pressures, denting gold’s appeal as an inflation hedge; while rising speculation of a US Federal Reserve interest rate hike next week, the first in almost a decade, also curbed the bullion’s appeal as a store of value.
 

Analysts expect the world’s biggest central bank which meets on December 15 & 16, to finally the exit the era of zero interest rates. Gold may trade on a cautious note today ahead of the weekly jobless claims data which may offer further cues over the health of the labour market of the world’s biggest economy.
 

At the MCX, Gold futures for February 2016 contract closed at Rs 25,602 per 10 gram, up by 0.30 per cent after opening at Rs 25,530, against the previous closing price of Rs 25,526. It touched the intra-day high of Rs 25,747.

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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 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 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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Weekly MCX Commodity Market Report 25 March 2013

Gold prices fell by 0.25 per cent to Rs 29,752 per ten grams in futures trading today as speculators trimmed their positions in tandem with a weak global trend. At the Multi Commodity Exchange, gold for delivery in April fell by Rs 75, or 0.25 per cent to Rs 29,752 per ten grams in business turnover of 8,063 lots. 

In a similar fashion, the yellow metal for delivery in June lost Rs 72, or 0.24 per cent to Rs 30,315 per ten grams in 1,178 lots. Silver prices moved down by Rs 0.59 per cent to Rs 54,737 per kg in futures trade today as speculators offloaded their positions, tracking a weak global trend. 

At the Multi Commodity Exchange, Silver for delivery in May moved down by Rs 326, or 0.59 per cent to Rs 54,737 per kg in business turnover of 10515 lots. Similarly, the white metal for delivery in July lost Rs 308, or 0.55 per cent to Rs 55,987 per kg in 325 lots.

Lead futures prices today rose by 0.68 per cent to Rs 119 per kg on higher spot demand and positive cues from global markets. At the Multi Commodity Exchange, lead for delivery in March traded 80 paise, or 0.68 per cent higher, at Rs 119 per kg, with a turnover of 2,099 lots. 

The metal for delivery in April also rose by 75 paise, or 0.67 per cent, to Rs 119.75 per kg in a turnover of 360 lots. Taking positive cues from the global markets and better domestic demand, zinc futures prices today edged up by 0.58 per cent to Rs 104.50 per kg as speculators enlarged positions. 

At the Multi Commodity Exchange, zinc for delivery in March up by 60 paise, or 0.58 per cent, to Rs 104.50 per kg, with a business turnover of 1,219 lots. The metal for delivery in April also rose by 55 paise, or 0.52 per cent, to Rs 105.85 per kg in a business volume of 103 lots.

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MCX Gold and Silver Tips - Copper Updates, Crude Updates

Today all products in MCX Commodity Market are trading at negative prices. MCX GOld, Silver, Copper, Crude and other base metals are trading at lower levels today. MCX Gold is trading below Rs. 29,000 and MCX Silver is trading near at Rs. 56,300. MCX Copper and Crude prices are also very down. MCX Copper is trading below Rs. 410. We assume that all are trading at lower levels in today's trading session.

Gold futures may trade in consolidation as international prices are trading in negative zone. Copper futures may trade sideways facing resistance near 415.70 levels. Crude oil futures may trade sideways.

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MCX Gold, Silver, Copper, Crude, NCDEX Agri Trading Tips Today

Today we can see many changes in the prices of MCX Gold, Silver, Copper and other base metals. Tomorrow MCX commodity market will not open due to the festival holiday. Today MCX Gold is trading at above Rs. 29,000 and MCX Silver is trading above Rs. 57,000. MCX Copper and Crude are trading at positive prices. MCX Copper is trading above at Rs. 410. We assume that MCX Copper and Crude are trading at higher prices today. MCX Gold and Silver are also trading at higher levels OR same for the day.

Precious/Bullion (Gold and Silver) metals are trading flat on MCX today. We expect prices to trade higher for today's trading session. All base metals are trading flat on International bourses today. Crude oil is trading higher on NYMEX and MCX today. We expect prices to trade higher for today trading
session.

NCDEX Agri Commodity Market Updates and Trading Tips:
Pepper futures may trade in negative zone. Pepper futures to trade lower  for the day. Cardamom futures may remain sideways. Outlook for Chana is up for the day. Chana futures may trade sideways. Guar Complex is expected to trade sideways to lower for the day. Outlook for Soybean is seen down for the day. CPO is expected to trade lower. Outlook for Jeera is sideways to down for the day.  Turmeric futures may remain sideways.

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MCX Commodity Market Updates Today

Yesterday MCX GOld, Silver, Copper, Crude and other base metals were closed at negative prices. MCX Copper trading at above Rs. 400. Today all are trading at lower prices. MCX Silver price may touch the level of Rs. 55,000.

GOLD HITS 2-WEEK HIGHS AFTER CENTRAL BANKS ACT.
CRUDE OIL RISES TO TWO-WEEK HIGH AFTER CENTRAL BANKS BOOST LIQUIDITY.
COPPER FALLS AFTER CHINA, EURO ZONE FACTORY DATA.
DOMESTIC OIL AND OILSEED TRADE LOW.

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Weekly MCX Commodity Market Updates and News

GOLD
For the next week MCX Gold above 29080 it can test the level of 29280/29480/29680. Trade by keeping the strict stop losses. Major support in MCX Gold is 28000 and 27100.

SILVER
For the next week MCX Silver sustains above 58300 then it can test the level of 59200/60500, Trade by keeping the proper stop losses. For the upcoming week MCX Silver, 62000 and 65000 will act as major resistance and 52000 and 48000 will act as major supports.

COPPER
Copper is in a consolidation phase and traders should use the strategy of buy on lower levels. MCX Copper sustains above 385 then it can test the level of 390/395/399 if it does not break the level of 374 on the downside. For the upcoming week MCX Copper major resistance would be 415 and 425 and supports would be found at 375and 355.

CRUDE
NYMEX Crude is in consolidation phase. For the coming week MCX Crude Oil major resistance is found at 5100 and 5300 and major supports will be 4600 and 4350. For the next week MCX Crude sustains below 4870 then below 4740 it can test the level of 4680/4620/4560 in this week. Trade by keeping the proper stop loss.

NATURAL GAS
Natural Gas is in a consolidation phase and traders should use the strategy of selling on higher levels. MCX Natural Gas sustains below 178 in the coming week then it can test the level of 173/169/165, if it does not break the level of 188 on the upside. For the upcoming week MCX Natural Gas major resistance would be 205 and 215, supports would be found at 165 and 155.

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