White metal up on strong global cues

Silver futures closed high in the domestic market on Wednesday as participants widened their positions, tracking a firm trend in global market.

Analysts attributed the hike in silver prices at the futures trade to expanding of positions by speculators, tracking a strong trend in precious metals overseas.

At the MCX, silver futures for December 2016 contract closed at Rs 42,100 per kg, upward by 0.24 per cent, after opening at Rs 41,867, against a previous close of Rs 41,998. It touched the intra-day higher of Rs 42,150.

Read More- Silver Updates

Continue reading →

Mcx Gold futures overview for 10 feb, 2016

Mcx Gold futures ended with slim losses in the local market on yesterday as investors and speculators resorted to profit booking in the precious metal, at existing levels, after a stellar rally in the previous session when prices increased over 3 per-cent as heightened worries over global economic growth bolstered gold’s secure haven appeal.

Gold Bulls have been resurgent in latest sessions as plunging world equities and a worsening oil rout bolstered the investment appeal of the bullion.

An appreciation in the indian rupee against the dollar more than offset the gains witnessed in the precious metal in the overseas market. Stronger INR(rupee) comparion to greenback tends to exert upward pressure on domestic bullion prices.

Click for Free Trial

Continue reading →

Trading tips & calls for 9 Feb, 2016

SELL GOLD BELOW 28465 TGTS 28415/28355 SL 28525 

GOLD SELL CALL HIT 1ST TGT 28415 LOW OF 28412 BOOK PART PROFIT 

  

BUY CRUDE OIL ABOVE 2050 TGTS 2070/2090 SL 2025 

CRUDE OIL BUY CALL HIT 1ST TGT 2070 BOOK PART PROFIT 

BUY RELCAPITAL 350 CALL ABOVE 14 TGTS 15/16.50/19 SL 12.50 

RELCAPITAL 350 CALL HIT 1ST TGT 15 CMP 16.40 BOOK PART PROFIT 

Click For Free Trial

Continue reading →

Gold strikes 3-month high on world economy 2 Feb, 2016

Today, Gold edged to a 3-month high as weak global manufacturing activity underscored the challenges for the world wide economy, forcing investors towards secure-haven assets.Click for Commodity tips

Increased volatility in other assets has benefitted gold and it could see more gains as world central banks may be coerced into easing monetary policy further this year to spur growth.

With rates close to zero, the "only option is to move either towards zero or negative rates as the Japanese and selected European countries are already doing in a desperate attempt to force banks to lend", INTL FCStone analyst Edward Meir wrote to clients.

Read More : Commodity tips

Continue reading →

Silver trading flat today 21 Dec, 2015

Silver futures were trading on a flattish note at the time of noon trade in the native market on Monday as traders continued to digest the US Fed Reserve’s decision last week to increase interest rates for the 1st time in almost a decade, dimming the appeal of the precious metal as a store of value, given that Silver doesn’t earn any interest.

The Fed exited it’s near-zero interest rate era, increasing the TGT(target) of its federal funds rate to 0.25 per-cent to 0.5 per-cent, from 0 to 0.25 per-cent previously, but the world’s top central bank indicated that the pace of rate tightening will be gradual and data-dependent, supporting the bullion.

Moreover, worries that a worsening commodity rout may reignite world wide deflation dented the appeal of Silver, a hedge against inflation.

MCX : Silver futures for March 2015 contract is trading at Rs 33,940 per kg, up by 0.02 per cent after opening at Rs 34,033, against the previous closing price of Rs 33,933. At 12 O 'Clock it reached the intra-day high of Rs 34,075.

Click For Free Trial

Continue reading →

Gold adding some gains after equity markets fell 21 Dec, 2015

Today, Gold edged up, adding more gains from the previous trading session, as weakness in the dollar and equities helped the metal regain some losses from a US interest rate lift last week. Concerns that requirement for non-interest-paying bullion will take a hit from the rate increase continue to cast a shadow, and going to limit any rally in gold.

Spot gold had mark off up 0.3 per-cent to USD 1,069 an ounce by 0339 GMT, contributing to the 1.4 per-cent gain on Friday last week.  We believe that trading conditions will start to thin out, but that does not mean trading ranges will necessarily narrow.

Click For Free Trials

Continue reading →