Showing posts with label Bullion Tips. Show all posts
Showing posts with label Bullion Tips. Show all posts

Sunday 15 February 2015

Commodity Market News-16 Feb 2015

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Indian gold prices were at a premium of $2-$3 an ounce over the international benchmark and are expected to remain in the same range in the short term, according to trade sources.

Copper prices fell 0.17 per cent to Rs 356.70 per kg in futures trade today as speculators offloaded positions.

Oil prices have marched higher. Brent rose over 3 per cent in Friday's session, about 6 per cent on the week and nearly 16 per cent on the month. Gains heightened after its front-month contract switched on Thursday at a premium.

Nickel prices rose 0.34 per cent to Rs 912.50 per kg in the futures market today as speculators enlarged positions

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Friday 13 February 2015

DAILY MCX NEWS LETTER-13 FEB 2015

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BULLION

GOLD moved higher in COMEX on Thursday on a weaker dollar and data showing the U.S. economic recovery remains fragile. The dollar eased against a basket of international currencies, giving gold prices a boost. Gold advanced further after two reports showed the U.S. continues to encounter potholes on the road to recovery. In a worrisome signal of weak consumer spending, January retail sales fell 0.8%. In addition, initial jobless claims, a measure of layoffs, rose by 25K to a seasonally adjusted 304K in the week ended Feb. 7. Investors also continue to watch Greece and Ukraine. Eurozone officials are wrangling over Greece's debt problems, while  Ukraine peace talks yielded a cease-fire deal with Russia-backed separatists.

BASE METAL

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COPPER  prices rose on Thursday, as investors cheered reports of a cease-fire agreement between Russia and Ukraine. Russian President Vladimir Putin confirmed that a cease fire deal with Ukraine starting February 15 had been reached, following months of violence. The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, went down. A weaker dollar boosts demand for base metals as an alternative investment and makes dollar-priced commodities cheaper for holders of other currencies. Market sentiment remained subdued after talks between Greece and European Union officials ended without an agreement, though both sides said there was still hope for a deal. Further talks are due to be held next Monday.

ENERGY

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CRUDE OIL futures climbed on Thursday, arresting a two-session losing streak, as industry spending cuts and a weaker dollar spurred buying. The chief executive of Shell said supply might not be able to keep up with growing demand after oil companies slashed budgets following a near-halving of oil prices since June. U.S. crude reached $51.41 on Thursday before paring gains after oil services firm Genscape reported a large build at the Cushing, Oklahoma, storage hub and delivery point for the U.S. crude contract. Traders pointed to a weaker dollar as boosting buying on Thursday, as the drop made dollar-priced commodities such as oil cheaper. Natural gas futures extended losses on Thursday, after data showed that U.S. natural gas supplies fell less than forecast last week, underlining concerns over weak demand. 

BULLION , ENERGY & BASEMETAL OVERVIEW:-

CS GOLD (APRIL) OVERVIEW:  
TREND  MIXED TO BEARISH 
RESIST 2:26900 
RESIST 1:26710 
SUP1:26425 
SUP2:26320 
STRATEGY: SELL ON RISE  

CS SILVER (MARCH) OVERVIEW: 
TREND  MIXED TO BEARISH 
RESIST 2:37950 
RESIST 1:37650 
SUP1: 36925 
SUP2:36620 
STRATEGY: SELL ON RISE 

CS CRUDE (FEBRUARY) OVERVIEW:   
TREND  MIXED TO BULLISH 
RESIST 2:3270 
RESIST 1:3220 
SUP1:3100 
SUP2:3030 
STRATEGY: BUY ON DIPS 

CS NATURAL GAS (FEBRUARY) OVERVIEW: 
TREND  MIXED TO BEARISH 
RESIST 2:185 
RESIST 1:177 
SUP1:164 
SUP2:159 
STRATEGY: SELL ON RISE 

CS COPPER (FEBRUARY) OVERVIEW: 
TREND  MIXED TO BULLISH 
RESIST 2: 365 
RESIST 1: 361 
SUP 1: 352.50 
SUP 2: 347.50 
STRATEGY: BUY ON DIPS 

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Tuesday 27 January 2015

AGRI & BULLIONS COMMODITY MARKET LEVELS:

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AGRI COMMODITY MARKET

CS TURMERIC   (APRIL) OVERVIEW:
TREND    BEARISH
RESIST 2:8585
RESIST 1:8400            
SUP1:8130
SUP2:8040
STRATEGY: SELL ON RISE

CS SOYABEAN (FEBRUARY) OVERVIEW:
TREND  MIXED TO BEARISH
RESIST 2:3370
RESIST 1:3350
SUP1:3320
SUP2:3305
STRATEGY: SELL ON RISE

CS CHANA  (FEBRUARY) OVERVIEW:                        
TREND  BEARISH
RESIST 2:3345
RESIST 1:3315
SUP1:3260
SUP2:3230
STRATEGY: SELL ON RISE

CS DHANIYA (APRIL) OVERVIEW:
TREND   MIXED TO BULLISH
RESIST 2:8320
RESIST 1: 8190             
SUP1:7920
SUP2:7780
STRATEGY: BUY ON DIPS

BULLIONS COMMODITY MARKET

CS COPPER (FEBRUARY) OVERVIEW:
TREND  BEARISH
RESIST 1: 347
RESIST 2: 353
SUP 1: 338
SUP 2: 334.50
STRATEGY: SELL ON RISE

CS CRUDE (FEBRUARY) OVERVIEW:
TREND  MIXED TO BEARISH
RESIST 1:2860
RESIST 2:2910
SUP1:2730
SUP2:2690
STRATEGY: SELL ON RISE

CS GOLD (FEBRUARY) OVERVIEW:
                        
TREND   MIXED TO BEARISH
RESIST 1:27850
RESIST 2:28050
SUP1:27500
SUP2:27300
STRATEGY: SELL ON RISE

CS SILVER (MARCH) OVERVIEW:
TREND   MIXED TO BEARISH
RESIST 1:39750
RESIST 2:40150             
SUP1: 39000
SUP2:38750
STRATEGY:  SELL ON RISE


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Tuesday 6 January 2015

Daily Commodity Market News-07 Jan 2015

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BULLIONS

GOLD:
Gold jumped more than 1 percent to a three-week high on Tuesday, extending gains on safe-haven buying as stock markets slid on mounting concern over Greece's future in the euro zone and as oil prices tumbled.

SILVER:
Silver was up 2.3 percent at $16.51 an ounce. Growth in the U.S. services sector braked in December and new orders for manufactured goods fell for a fourth straight month in November, signs the economy lost some momentum in the fourth quarter.

CRUDE OIL:
Global oil markets on Tuesday slumped for a fourth straight session as mounting worries about a supply glut pressured crude prices, which have fallen almost 10 percent this week to their lowest since spring 2009.

NATURAL GAS:
U.S. natural gas futures settled up 2 percent on Tuesday, recouping half of the previous session's loss, as bets for colder weather helped the market recover from early lows pressured by falling oil prices.

BASE METALS

COPPER:
Copper fell on Tuesday as prices remained close to 4-1/2 year lows hit in the previous session due to dollar strength, plunging oil prices and concerns on demand from top consumer China as the country moves to raise output.

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Tuesday 30 December 2014

Commodity Market News-31 Dec 2014

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Silver
Silver prices rose by Rs 169 to Rs 36,653 per kg in futures trading today as speculators indulged in creating fresh positions amid a firming trend in the precious metals overseas.

Copper
Copper smelters raised output 33 per cent in April-November over a year before, to take advantage of higher conversion rates — treatment and refining charges (Tc/Rc) in industry parlance.

Chana
NCDEX Chana Jan. futures traded on positive note (2.69% higher) as Govt is considering a 10% tax on overseas purchases of pulses to support the local farmers. Overall sentiments have turned positive for Chana amid lower sowing this season and expected lower output in 2014-15.

Soybean
Yesterday, NCDEX Soybean Jan futures closed negative (0.90% lower) taking clues from the international markets and on profit booking on higher levles. In the international markets, soybean was also down by 0.38%.

Jeera
Jeera On Monday Jeera Jan. futures closed positive (0.57% higher) on anticipation of lower crop sowing and good demand for the exports. Jeera of Indian origin in the international markets was quoting around $1900-2000/ton.

Turmeric
Turmeric Jan. futures traded lower on a second successive day (1.77% lower) on account of flat domestic demand and good supply in the mandis from the growing belts. Turmeric prices remained flat in benchmark Nizamabad and Erode market.

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Sunday 28 December 2014

Commodity Market News-29 Dec 2014

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Gold rose the most in 2-1/2 weeks on Friday in thin post-Christmas trading, boosted by short-covering after China's central bank was reported to be considering a loosening of liquidity requirements at the country's banks.

Silver rose 2.7 percent to $16.09 an ounce. The People's Bank of China (PBOC) is weighing changing rules governing how loan-to-deposit ratios are calculated at banks, a move that would boost liquidity conditions, sources with direct knowledge told Reuters.

Crude Oil prices fell Friday, tumbling as the dollar strengthened and as a supply glut in top consumer, the United States, trumped worries about falling production from Libya.

U.S. natural gas futures hit a more than two-year bottom below $3 on Friday, finishing the worst week in 10 months, as disappointing weekly draws of the fuel raised worries about growing supplies of gas in storage.

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Monday 22 December 2014

Commodity Market News-23 Dec 2014

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Bullions:

Gold dropped nearly 2 percent and silver slid 3 percent on Monday, triggering automatic sell orders in thin pre-holiday dealings as oil prices eased back toward $55 per barrel.

Silver was down 2.5 percent at $15.63 an ounce, after falling more than 3 percent to a session low at $15.49

Crude Oil prices resumed their downward march on Monday, doubling back on the biggest one-day gain in over two years, after Saudi Arabia's powerful oil minister said OPEC would not cut production at any price.

U.S. natural gas futures dropped more than 9 percent to end at a 22- month low on Monday on expectations for moderate temperatures and weak holiday demand over the next two weeks.

Base Metals:

Copper dipped on Monday after oil prices retreated and as worries over growth in top consumer China persisted, though a trimming back of surplus forecasts for next year limited losses

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CapitalStars Research Expert view on Commodity Market for the week (22-12-2014 to 27-12-2014)

PRECIOUS METALS:-
IN THIS WEEK WE HAVE SEEN RANGE BOUND MOVEMENT IN BOTH THE PRECIOUS METALS i.e. GOLD & SILVER. SILVER HAS SHOWN MORE BEARISHNES THAN GOLD AS IT HAS IMPACTED FROM BASE METAL AS WELL.

IN THE COMING WEEK, PRECIOUS METALS WILL TRADE MIXED TO LOWER AS PRESSURE OF RISE OF INTEREST RATE IN U.S. IS SURE TO HAPPEN. ALSO STRONG DOLLAR & WEAK OIL PRICES WILL FURTHER ACT AS NEGATIVE FACTOR.

GOLD FEB CAN MOVE DOWNWARD TO THE LEVELS OF 26200 & THEN 25800 BREAKING SUPPORTS OF 26500 & 26000. REISTANCES ARE AT 27360 & 27700 LEVELS.
COMEX MARKET SUPPORTS ARE AT 1165 OUNCE & 1176 OUNCE & RESISTANCE ARE AT 1219 OUNCE & 1240 OUNCE.

SILVER MARCH CONTRACT IS ALSO IN BEARISH PAHSE & EXPECTED TO COME DOWN TO 35100 TO 34500 BREAKING SUPPORTS OF 36100 & 34900 LEVELS.
RESISTANCES ARE AT 37800 TO 38050 & 39350 LEVELS.
COMEX MARKET SUPPORTS ARE AT 15.40 CENT & 14.70 CENT & RESISTANCE ARE AT 16.85 CENT & 17.65 CENT.

BASE METAL SEGMENT:-
IN THIS WEEK WE HAVE SEEN RANGE BOUND MOVEMENT IN COPPER FEB CONTRACT. IT HAS MADE HIGH OF 414.90 & LOW OF 401.25 LEVELS.
IN THE COMING WEEK TOO, WE WILL GOING TO SEE SOME UPWARD MOVEMENT TO THE LEVELS OF 415-418 LEVELS WILL GET RESISTANCE OF 421-424 LEVELS & THEN COME DOWN TO 407-404 & 398-396 LEVELS BREAKING SUPPORTS OF 405 & 400 LEVELS
COMEX MARKET SUPPORTS ARE AT 2.84  CUBIC & 2.78 MT & RESISTANCE ARE AT 2.97 MT & 3.01 MT.

ENERGY SEGMENT:-
CRUDE OIL JAN CONTRACT DROPED NEARLY 50% OVER THE PAST 6 MONTHS ON WORRIES ABOUT FAST GROWING U.S.SHAIL OIL SUPPLIES & ACCELERATED AFTER OPEC’s DECISION OF  NOT TO CUT OUTPUT IN NOV 2014. THIS IS FURTHER INDICATING AN OVER-SUPPLIED MARKET & BLEAK DEMAND.

IN COMING WEEK, WE CAN SEE SOME  RECOVERY IN THE OIL & IT CAN MOVE UPWARD TO 3750 TO 3850-3880 LEVELS BREAKING RESIATANCE OF 3690-3710 LEVELS & WILL FACE MAJOR RESISTANCE AT 3900-3935 LEVELS & THEN CAN COME DOWN TO 3500 TO 3430 LEVELS BREAKING SUPPORTS 3570 & 3500 LEVELS.

IN NYMEX MARKET, CRUDE OIL HAVING SUPPORTS AT 54.71 BARREL & 51.44 BARREL. REISTANCES AT 60.13 & 62.28 BARREL.

MARKET HAS WITNESSED VOLATILE MOVEMENTS IN NATURAL GAS DEC CONTRACT. IN THE COMING WEEK, WE WILL WITNESS A VOLATILE SESSION DUE TO EXPIRY OF NATURAL GAS DEC CONTRACT. NATURAL GAS DEC CAN COME DOWN TO 215 – 212 & 208 LEVELS ON BREACHING SUPPORTS OF 218 & 211 LEVELS. AT 208 LEVELS, NATURAL GAS IS EXPECTED TO GET STRONG SUPPORT & UPWARD MOVEMENT TO 225 & 239 TO 251 LEVELS CAN BE SEEN TECHNICALLY. FUNDAMENTALLY, MORE THAN 48 STATES OF U.S. IS EXPERENCING MILD TO WARMER TEMPERATURE & IT WILL EXPECTED TO BE CONTINUE IN COMING WEEK TOO. Moderate winter temperatures in the past week or so are expected to give way to colder temperatures beginning next week.

IN NYMEX MARKET, NATURAL GAS HAVING SUPPORTS AT 3.19 & 3.00 MMBTU. RESISTANCES ARE AT 3.74 & 4.11 MMBTU.

Monday 15 December 2014

Commodity Market News-15 Dec 2014

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Silver Prices fell sharply by 1% to Rs 38,320 per kg in futures trade today as speculators indulged in offloading positions.

Zinc futures prices today edged up by 0.55%
to Rs 138.10 per kg as participants enlarged positions amid a firming trend at the London Metal Exchange.

Cardamom Prices rose 1.37% to Rs 877.50
per kg in futures trade today largely on the back of pick-up in demand in the spot market amid low stocks.

Crude Oil futures fell by 0.32% to Rs 3,669
per barrel today as traders trimmed positions amid a weakening trend in Asian trade where it sank to a fresh five-year low.

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Thursday 11 December 2014

Commodity Market News-12 Dec 2014

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Bullion
  • Gold prices ended marginally higher by 0.07 percent to $1227.6/oz amid conflicting signals as the firm dollar fueled hopes that interest rates will rise sooner or later while weak U.S. economic data spurred safe-haven buying.

  • Silver prices rose by 0.2 percent to $17.1 in yesterday’s trading session in tandem with rise in gold prices. Strength in the dollar and weakness in Nickel prices however capped upside.

Energy
  • Crude oil prices declined by 1.6 and 0.9 percent respectively continuing its recent run of losses. Persistent concerns over a supply glut and a bearish demand outlook is leading to decline in oil prices.

  • Natural gas futures ended down 1.43 percent on the latest weather forecasts calling for continued warmer-than-normal temperatures over the next two weeks. That decline came despite a government report early Thursday of a bigger-than-expected storage draw. The EIA said utilities withdrew 51 billion cubic feet of gas from storage last week.

  • Base metals on the LME traded on a mixed note on Thursday as weak economic data from the Euro Zone along with mixed trend in LME stocks dragged prices lower.

  • Copper prices rose by 0.6 percent yesterday owing to strongeconomic data from the US. Also, weakness in the DX supported gains.
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Monday 1 December 2014

Commodity Market News-02 Dec 2014

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Gold prices fell by 0.74% to Rs 26,314 per 10 grams in futures trade today as speculators reduced their exposures amid a weak trend overseas on stronger dollar.

Silver prices plunged 1.92% to Rs 36,981 per kg in futures trade today after speculators offloaded positions amid a weak global trend.

Copper prices fell 0.67% to Rs 400.85 per kg in futures trade today as participants reduced positions amid a weak global trend.

Nickel fell 0.38% to Rs 1,015.30 per kg in futures trade today as speculators engaged in reducing positions amid a weak trend in global markets and subdued domestic demand.

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Sunday 23 November 2014

Commodity Market News-24 Nov 2014

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BULLION

Gold prices gained marginally after sliding over the last two sessions at the domestic bullion market today due to renewed offtake by jewellery stockists and traders to meet seasonal demand.

Silver also recovered sharply to reclaim Rs 37,000
per kg-mark on heavy speculative demand coupled with firm industrial support.

ENERGY

Crude Oil and Brent Oil January futures are marginally up at $ 76.62 and $ 80.55, respectively.

Natural Gas January contract has slumped 4.5 per cent to $ 4.219.

BASE METAL


Copper March delivery is trading with a gain of 0.3 per cent at $ 30.37

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Thursday 20 November 2014

Commodity Market News-21 Nov 2014

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Gold:- Spot gold prices traded negative last week on combination of falling crude oil prices and strength in the dollar. Continued outflows from the ETF ’s further exacerbated the fall in gold prices. Higher U.S. quits rate and new jobless claims remaining near a 14-year low suggest the U.S. job market is moving toward full health, undermining gold's appeal as a hedge against economic uncertainty. Bullion investors looked to the currency and energy markets for trading cues.

Silver:- Last week, spot silver prices in the international markets traded lower for the entire week in line with fall in gold prices, however recovered strongly at the end of the week on short covering.

Base Metal:- Base metals may trade with sideways bias on mixed fundamentals. Copper may trade in range of 408-420 while Lead may move in range of 125-127. Aluminum may move in range of 125-127.50.

Copper:-
Copper slipped on Thursday as weak manufacturing in China and slower business growth in the euro zone raised concerns about demand, while nickel hit a five-week high due to expectations of an ore shortage.

Crude Oil:-
Brent crude oil steadied above $78 a barrel on reports that oil producers would agree to cut output next week offset weak economic data from China and Europe. Ministers from the Organization of the Petroleum Exporting Countries will meet in Vienna on Nov. 27 to decide how to respond to a collapse in oil prices that have fallen more than 30 percent in five months.

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Wednesday 19 November 2014

Commodity Market News-20 Nov 2014

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Gold:- Spot gold prices traded negative last week on combination of falling crude oil prices and strength in the dollar. Continued outflows from the ETF ’s further exacerbated the fall in gold prices. Higher U.S. quits rate and new jobless claims remaining near a 14-year low suggest the U.S. job market is moving toward full health, undermining gold's appeal as a hedge against economic uncertainty.

Silver:- Spot silver prices in the international markets gained by 3.44 percent and closed at $16.26/oz. On the MCX, silver prices gained by 3.55 percent taking cues from international markets and closed at Rs.36000/kg.

Copper:- MCX Nov Copper futures have resumed its privileged bearish trend breakout through the “descending triangle” chart pattern in intraday charts. Now the bias remains weak and further decline is expecting towards 406 & 403 levels. However, any rise can be limited at 412.90 and bring some selling pressure from the same.

Natural Gas:- Natural Gas futures surged 6% on D-o-D basis and ended in a strong buying zone. Now the view remains positive and further rally is likely to be favor towards 72.8% Fibonacci level of 269.40 levels. However, downside support lies at 256.50 levels.

Jeera:-  Jeera prices traded initially higher, making a high of 12430 and later closed the day at 12215. As prices holds the support of 11980 could see pullbacks to higher regions.

Soybeans:- Soybean futures traded on a positive note almost 1.58% on account of increasing demand in soyameal in the physical market. The daily arrival recorded around 5.5 to 6 lakh bags.

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Tuesday 18 November 2014

Commodity Market News-19 Nov 2014

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BULLION

Gold and Silver December futures have declined 0.4 per cent each at $ 1,192.10 and $ 16.108, respectively.

Platinum January 2015 contract has shed over 0.5 per cent at $ 1,197.75.

ENERGY

Crude Oil January 2015 future has moved down 0.3 per cent at $ 74.45.

Brent Oil January 2015 expiry
is up 0.2 per cent at $ 78.56.

Natural Gas December delivery
has gained 0.3 per cent at $ 4.268.

BASE METAL


Copper December future is also up 0.2 per cent at $ 3.007.
 
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Monday 17 November 2014

Commodity Market News-18 Nov 2014

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The prices of Copper recovered but were still unable to cross Rs 416 per kg in last session. The prices recovered and ended at Rs 415.2 per kg. Though the expectations of the prices to breach Rs 410 per kg on the closing basis are yet to be ascertained and whether this is sustainable or not. Volume increased on Tuesday which indicates that the prices of Copper are in for some choppy sessions. On the lower side, Copper is expected to remain tugged at Rs 408 per kg.

Gold moved higher and ended the day at Rs 26466 per 10 grams, 1.51%. Gold was also the most active contract in the commodities space. The previous closing price for Gold is Rs 26245 per 10 grams. The volumes for Gold were 16718. Further gains in Gold cannot be ruled out as the prices are now experiencing bottom fishing rally. Further gains in Gold can take the prices near to Rs 26700 per 10 grams. Supports for the contract is at Rs 26200 per 10 grams.

Crude oil drifted lower on profit selling after strong gains in the last session. Mixedto weak movement in global equities pulled the commodity lower. Prices had dropped lastweek amid tepid economic data from China and Europe. A sharp surge had pushed up the WTICrude above $76 per barrel but the sentiments turned around today and the counter quotesat $75.03 per barrel, down 79 cents per barrel on the day. MCX Crude oil futures aretrading at Rs 4639 per barrel, down Rs 23 per barrel on the day. The counter fell to lowsnear Rs 4600 per barrel earlier in the session.

Profit booking was seen in chana futures due to limited buying by traders at higher levels coupled with strong arrivals in local mandies. The NCDEX futures declined by 1.45 percent today.

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Thursday 13 November 2014

Commodity Market News-14 Nov 2014

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MCX SILVER:- March contract was trading at Rs 35182 down Rs 236, or 0.67 percent. The SILVER rate touched an intraday high of Rs 35227 and an intraday low of Rs 35148. So far 91 contracts have been traded. SILVER prices have moved down Rs 10795, or 23.48 percent in the March series so far.

MCX GOLDPETAL:- December contract was trading at Rs 2583 down Rs 6, or 0.23 percent. The GOLDPETAL rate touched an intraday high of Rs 2590 and an intraday low of Rs 2582. So far 108 contracts have been traded. GOLDPETAL prices have moved down Rs 293, or 10.19 percent in the December series so far.

MCX Copper derailed:- The prices ended at Rs 407 per kg, from Rs 411 per kg. The metal is likely to slip below Rs 405 per kg on the intraday session today after closing below Rs 410 per kg yesterday. Copper prices declined by 0.97% in the trading session ending 13 November 2014. The prices tested a high of Rs 415.2 and a low of Rs 406.25 per kg.

MCX Crude Oil:- The prices tested a high of Rs 4756 per barrel and a low of Rs 4627 per barrel. This commodity has seen constant bearish phase in last one month. The prices settled at Rs 4641 per barrel, down 2.48%. The prices moved below critical and psychological resistance zone of Rs 4650 per barrel.

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Tuesday 11 November 2014

Daily Commodity Market News-12 Nov 2014

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The MCX December Gold contracts slipped back into the negative zone on Monday, the fall in precious yellow metal was on account of profit-taking.Yesterday, the Gold futures tested a low of Rs 25,600, before settling with a loss of almost a per cent at Rs 25,733.The MCX Gold contract so far has touched a low of Rs 25,533, and high of Rs 25,653. The contract is now quoted at Rs 25,544 - down Rs 189.

The MCX Crude Oil November futures in yesterday's trade had tumbled sharply from the day's high of Rs 4,920 and ended with a notable loss of more than 1.5 per cent (Rs 78) to Rs 4,783, following the NYMEX Crude Oil price - which also dropped over 1.5 per cent on Tuesday.As per the daily charts, the MCX Crude Oil futures are currently trading slightly above the lower-end of the Bollinger Band (Rs 4,733).

Gold and Silver December futures have dropped 0.5 per cent each at $ 1,154.10 and $ 15.593.Platinum January 2015 future has added 0.4 per cent at $ 1,202.75.

Monday 10 November 2014

Commodity Market News-11 Nov 2014

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Gold:- Gold prices fell by Rs 55 to Rs 26,395 per ten gram in the national capital on Monday owing to slackened demand from jewellers and retailers at existing higher levels, amid a weak global trend.

Silver:-
Silver ready also eased by Rs 50 to Rs 35,500 per kg, while weekly-based delivery strengthened by Rs 230 to Rs 35,025 per kg on speculative buying.

Energy:-
On Tuesday afternoon, BHP announced it will export a 650kb cargo of processed condensate without approval from the BIS. This is a significant new development in the crude export saga.

Precious Metals:- Gold slipped nearly 1% early on Monday after a short covering rally in the previous session, fuelled by a softer-than-expected US jobs report, showing that the metal was still not out of the woods.

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Thursday 6 November 2014

DAILY COMMODITY MARKET NEWS-07 NOV 2014

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Gold:- prices plunged by Rs 450 to trade at over three-year low of Rs 25,900 per 10 grams in the national capital on Wednesday as the dollar's strength dampened demand for the precious metal.

Silver:-  followed suit and recorded a steep fall of Rs 900 to Rs 35,050 per kg on poor offtake by industrial units and coin makers.

Bullion:-  traders said a weakening trend in global markets, as the dollar's strength eroded demand, mainly put pressure on the precious metal .

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