MCX Gold, Silver, Copper, Crude Oil Updates Today


Precious metals prices are trading firm on MCX today. We do not expect any major fall in the prices of bullions on account of the ongoing loose monetary policy by US Fed. Buying at dips is recommended for the day.

Industrial/Base metals prices are trading lower on international bourses today. We expect metals prices to remain under pressure on account of higher output from China and low physical demand. Selling on rise is recommended for the day.

Crude oil prices are trading a tad higher on NYMEX today. We do not expect any major rise in the prices of oil on account of higher inventory at key ports. Selling on rise is recommended for the day.

MCX Gold, Silver, Crude Oil Updates Today


Gold and Silver:

Gold and silver continued their volatility due to the unclear and uncertain news flows that came into the financial markets. The recent news from Cyprus is that its parliament passed on the bailout plan, which isn’t likely to satisfy EU and IMF officials. As a result, gold traded near a 3-1/2-week high on Friday, underpinned by safe-haven demand on the fear of a potential financial meltdown in Cyprus, which has put bullion on track for its biggest weekly rise in four months. 

Crude Oil:

Crude Oil closed at $93.86 on a weekly basis. The commodity traded within a tight range between the upper $91 and $93 per bbl ranges. Supported by positive Chinese HSBC PMI data and strong US economic releases crude remained elevated. Promises of ongoing monetary stimulus from the US FOMC and the Japanese central bank prices remained strong showing little response to poor eco data in the euro zone as the Cyprus bailout problems seem to have little effect on the commodity. 

MCX Commodity Market Report Today 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.

Copper prices moved up by 0.17 per cent to Rs 417 per kg in futures trade today as speculators enlarged their positions, taking positive cues from overseas markets. At the Multi Commodity Exchange, copper for delivery in April traded higher by 70 paise, or 0.17 per cent to Rs 417 per kg in business turnover of 35813 lots. 
Similarly, the metal for delivery in June edged up by 55 paise, 0.13 per cent to Rs 422.65 per kg in 1735 lots. Oil prices were mixed in Asia Friday on fears of a possible default by Cyprus as the European Central Bank said it would halt funding to lenders if a new bailout deal was not found, analysts said. 

MCX Commodity Market Updates Today 22 March 2013


Snapping a four-day rising streak, gold prices today fell by Rs 120 to Rs 30,250 per 10 grams here due to selling by stockists at existing higher levels amid a weak global trend. 
Silver followed suit and fell by Rs 250 to Rs 54,750 per kg owing to lack of buying support from industrial units and coin makers. 
Traders said stockists selling at prevailing higher levels amid a weak global trend mainly led to the fall in gold and silver prices. Gold in New York, which normally sets the price trend on the domestic front, fell by USD 6.10 to USD 1,606.70 an ounce and silver by 0.31 per cent to USD 28.82 an ounce.

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.
Aluminium prices edged up by 0.53 per cent to Rs 104.60 per kg in futures trade today as participants enlarged their positions, supported by a firming trend overseas. Strong demand in the spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in March inched up by 55 paise, or 0.53 per cent, to Rs 104.60 per kg in business turnover of 463 lots. Likewise, the metal for delivery in April traded higher marginally by 55 paise, or 0.52 per cent, to Rs 106.30 per kg in 38 lots.

MCX Commodity Updates and Trading Tips Today


Bullion: Gold futures were trading higher on the local bourses as the rupee weakened against the dollar and also rise in benchmark contract. Investors will now turn their focus to the US Federal Open Market Committee's two-day meeting for cues on its asset-purchase programmed. 

Metals: Base metal futures on MCX were trading higher due to the weakness in rupee against the dollar, but a range bound movement in benchmark contracts on the London Metal Exchange limited the rise. On LME, base metal contracts traded higher earlier in the day on bargain buying and as the initial shock over the Cyprus debt deal eased to some extent. 

Energy: Domestic crude oil futures were trading higher due to depreciation in rupee against the dollar and tailing mild upward recovery in benchmark contracts on the New York Mercantile Exchange. The upward recovery in NYMEX crude oil futures, however, was restricted, as market is awaiting release of key weekly US oil inventory report on Wednesday. 

Weekly MCX Commodity Market Report ~ Gold, Silver, Copper, Crude Oil Updates


Both the precious metals, gold and silver, fell here today on sustained selling by stockists due to sluggish demand. While gold lost Rs 60 to Rs 29,930 per 10 grams, silver declined by Rs 15 to Rs 54,750 per kg. Traders said sustained selling by stockists on sluggish demand due to off-marriage and festival season mainly kept pressure on the precious metals. 
In line with a general weak trend, silver ready declined further by Rs 15 to Rs 54,750 per kg and weekly-based delivery by Rs 70 to Rs 54,420 per kg. On the other hand, silver coins maintained steady trend at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces in restricted buying activity.

Copper futures prices today fell 0.28 per cent to Rs 426.50 per kg, as speculators trimmed their positions amid a weak trend in the global markets. Besides, rising stockpiles of metal monitored by the London Metal Exchange (LME) also put pressure. At the Multi Commodity Exchange, copper for delivery in April declined by Rs 1.20, or 0.29 per cent, to Rs 426.50 per kg in business turnover of 1,454 lots. 
The metal for delivery in June fell by a similar margin to Rs 432.20 per kg in a business volume of 84 lots. Oil prices rose on Friday ahead of the release of US industrial production and manufacturing figures that analysts expect to show an improving economy. At the Multi Commodity Exchange, aluminium for delivery in March declined by 20 paise, or 0.19 per cent, to Rs 105.85 per kg in business turnover of 389 lots. 

MCX Gold, Silver, Copper, Crude Oil Updates Today


Bullion: Gold futures were trading lower on local exchanges tracking COMEX futures, but the fall in rupee against the dollar limited the downside in local prices. On COMEX, gold futures came under pressure due to the strong dollar against the euro and as investors were awaiting cues from the European leaders' summit today and Friday. 

Metals: Domestic base metals were moving in a narrow range tailing benchmark contracts on the London Metal Exchange. However, depreciation in rupee against the dollar lent some support to local base metal futures. China is world's leading consumer of industrial metals, but its demand has been hit, as the country remains committed to maintaining curbs on its proper sector.

Energy: Domestic crude oil futures were trading lower on similar cues from the benchmark contracts on the New York Mercantile Exchange, but weakness in rupee against the dollar limited the fall. NYMEX crude oil futures traded lower today, as sentiment weakened following rise in the US crude oil stocks. Naturalgas futures aimed at a fresh three-month high Wednesday, gaining 0.9% as weather forecasts suggest heating demand will remain strong through the last weeks of winter.

MCX Gold, Silver, Copper, Crude Oil Updates Today


Precious metals prices are trading lower on COMEX today. We expect a further decline in the prices of precious metals on account of a strong dollar overseas. Selling on rise is recommended for the day.

Industrial metals prices are trading lower on international bourses today. We expect copper and Lead prices to remain under pressure on account of low physical demand from China.

Crude oil prices are trading lower on NYMEX today. We expect a further decline in the prices of oil on account of higher stockpiles at key ports. Selling on rise is recommended for the day.

MCX Gold, Silver, Copper, Crude Oil Updates and Tips Today


Bullion: Bullion futures were trading up on local exchanges tracking the rise in COMEX futures, but the strong rupee against the dollar limited the upside in prices. Bullion futures rose on COMEX, as the recent consolidation in prices 
after the sharp sell off earlier this month, boosted bargain buying. The weak dollar against the euro also pushed up prices. 

Metals: Domestic base metal futures were trading higher on the MCX tracking the trend on the London Metal Exchange, where prices rose due to a marginal fall in dollar against the euro. The rise in metal prices was, however, capped as the Indian rupee strengthened against the US dollar. On the LME also, base metals were trading higher by 0.21%-1.06%, with the benchmark three-month copper contract up at $7,784.50 a tn.

Energy: Domestic crude oil futures erased early losses on lower level buying, tracking similar technical upward recovery in benchmark contracts on the New York Mercantile Exchange. Upward recovery in MCX oil futures, however, was 
limited due to the rupee's rise against the dollar. On NYMEX, oil futures recovered slightly on bargain buying, but overall sentiment remained weak on anticipation of rise in US crude oil stocks.

MCX Commodity Market Updates & Tips Today 12 March 2013


Bullion: Gold contracts were slightly higher on domestic exchanges tracking the gains in COMEX futures and weakness in rupee against the dollar. Gold futures rose on COMEX due to the weakness in dollar against the euro. Silver futures were trading down on local exchanges due to the fall in COMEX futures. But the weak rupee limited the downside in prices. 

Metals: Domestic base metal futures were trading weak on the MCX tracking the trend on the London Metal Exchange. The fall in metal prices was, however, limited due to the weakness of the Indian rupee against the US dollar. On the LME, base metals drifted lower after China's weaker-than-expected industrial production and retail sales data.

Energy: Domestic crude oil futures were trading down tracking global cues but a weak rupee against the dollar capped the fall. Prices fell on the New York Mercantile Exchange after economic data out of China disappointed investors, adding that a stronger dollar further dented sentiment.

Weekly MCX Commodity Market Report and Trading Tips


Gold prices extended their fall at the bullion market here on Friday on hectic selling from stockists and investors amid subdued demand as well as lower global cues. Silver also encountered heavy speculative selling pressure and dropped below the Rs 55,000 per kg-level on the back of poor industrial buying.

Standard gold of 99.5 per cent purity dropped Rs 110 to close at Rs 29,410 per 10 gm from Thursday's closing level of Rs 29,520. Pure gold of 99.9 per cent purity also dipped by a similar margin to end at Rs 29,545 per 10 gm from Rs 29,655. Silver ready (.999 fineness) slumped Rs 925 to conclude at Rs 54,610 per kg from Rs 55,535 previously.

Nickel prices rose by Rs 1.50 to Rs 909 per kg in futures trading today as speculators enlarged their positions, tracking a firm trend at spot market on pick up in demand from alloy-maker. Besides, a firm trend in base metals at the London Metal Exchange also influenced prices. 

At the Multi Commodity Exchange, Nickel for delivery in March rose by Rs 1.50, or 0.17 per cent, to Rs 909 per kg in business turnover of 1,442 lots. Similarly, the metal prices for delivery in April contracts traded higher by Rs 1.30, or 0.14 per cent, to Rs 916.40 per kg in 117 lots.

Zinc futures prices today edged up by 0.23 percent to Rs 108.90 per kg amid a firm global trend and better domestic demand, as speculators enlarged positions. At the Multi Commodity Exchange, zinc for delivery in April up by 25 paise, or 0.23 per cent, to Rs 108.90 per kg, with a business turnover of 86 lots. The metal for delivery in March also rose marginally by 20 paise, or 0.19 per cent, to Rs 108 per kg in a business volume of 1,406 lots.

MCX Gold, Silver, Copper, Crude Oil Updates Today


Precious metals prices are trading a tad lower on COMEX today. In the evening session we have the Unemployment rate and the non-farm payrolls data to be released by the US. Any positive data reported is likely to support the US dollar thus, pressurizing the prices of precious metals.

Industrial metals prices are trading higher on international bourses today. We expect metals prices to trade firm for the day on account of better economic data points from US and China. However, weak physical demand from China may cap the upside in metals prices.

Crude oil prices are trading lower on NYMEX today. We do not fall any major fall in the prices of oil on account of better economic data points in major oil consuming nations. Buying at dips is recommended for the day.

MCX Gold, Silver, Copper, Crude Oil Updates Today 07 March 2013


Bullion: Gold futures were slightly lower on domestic exchanges as the rupee rose against the dollar and as COMEX futures shed early gains. On COMEX, gold futures had risen earlier on strong physical demand but the gains were erased as the dollar rose against the euro. 

Metals: Base metal futures on domestic bourses were trading lower on weak cues from benchmark contracts on the London Metal Exchange and firm rupee against the dollar. LME base metal futures traded lower due to firm dollar against the euro and continuing concerns over Chinese demand.

Energy: Domestic crude oil futures were trading lower tracking appreciation in rupee against the dollar and also Crude-oil futures added to early declines Wednesday and fell below $90 a barrel after government data showed a biggerthan-expected rise in crude-oil inventories. The Energy Information Administration said crude oil stocks climbed 3.8 million barrels in the week ended March 1, compared with forecasts for a rise of 500,000 barrels. The sharp increase came as refiners unexpectedly cut crude-processing rates in the week by 480,000 barrels a day to their lowest level in nearly two years.

MCX Commodity Tips ~ Market Data Today 06 March 2013


Bullion:
Gold futures rebounded Tuesday as physical buyers returned to the precious metal after its recent retreat. Gold last week settled at the lowest price since late July, capping a four-week slump as a modestly brighter economic outlook left less demand for precious metals as a safe haven. Some investors buy gold on the belief that it will hold up better than other assets during market turmoil. Buying slowed as U.S. stocks climbed to multi-year highs.

Metals:
Copper futures rebound Tuesday on China's plans to maintain its economic growth target and support from stronger U.S. equity markets. Chinese authorities set an economic growth rate target of 7.5% for 2013, outgoing Chinese Premier Wen Jiabao said Tuesday. The target is unchanged from last year, but soothes investor worries of slower targeted growth. Copper prices had slumped to a three-month low Friday, after Chinese authorities introduced a 20% capital gains tax on property sales in order to cool speculation in the real estate sector. Support for April copper is seen at Rs.426 while resistance is seen at Rs. 434.

Energy:
Domestic crude oil futures were up tracking a weak rupee and rise in benchmark contracts on the New York Mercantile Exchange. NYMEX oil gained on bargain buying after falling in the last few sessions due to demand concerns.

MCX Bullions, Metals, Energy Updates and Tips Today


Bullions:
Gold inched up on Monday, bouncing from a one-week low hit on Friday, supported by physical buying in Asia, but robust U.S. economic data dented bullion's safe-haven appeal. Automatic spending cuts that kicked off in the United States on Friday, pushing spot gold to its lowest level in more than a week, also continued to weigh. Recent weakness in the global market has triggered physical buying interest in Asia, particularly in China, as the spread between onshore prices and international prices widens, cushioning the fall in dollar-priced gold. The exodus of investment from the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, continued. Its holdings fell to a seven-month low of 1,254.885 tonnes on Friday, in a ninth consecutive session of decline. The overall improving outlook for the global economy has boosted risk appetite and pulled investors to higher-yielding assets such as equities.

• Base—Metals
Copper rose on Monday, rebounding from three-month lows hit in the previous session, but gains were kept in check by a political stalemate in the United States and Italy, and by plans in top consumer China for tighter property sector controls. China, which accounts for 40 percent of refined copper demand, could increase required down payments and loan rates for buyers of second homes in cities where prices are rising too quickly, in its latest move to contain housing costs. Copper is used extensively for both wiring and building houses. Investors also had to contend with the aftermath of an inconclusive election in Italy that has cast doubt on the euro zone's austerity-led solution to its debt crisis, and with U.S. spending cuts that threaten to dampen growth in the world's largest economy. Also weighing, data on Sunday showed growth in China's services sector expanded at its slowest pace in five months in February. Last week, meanwhile, data showed China's factory growth cooled to multi-month lows in February. 

• Energy
U.S. crude oil hit its lowest level in 2013 and settled down for a third straight session on Monday on signs of an over-supplied market and slowing China growth, while gold fell as demand waned for bullion-backed exchange-traded funds. U.S. crude oil futures fell in reaction to slowing growth in China and evidence of rising crude stockpiles in the United States. China reported over the weekend that its services sector expanded at the slowest pace in five months in February, and factory growth also cooled to multi-month lows. In the United States, automatic government spending cuts, known as the "sequester," were triggered on Friday as lawmakers failed to agree on a resolution to prevent them. According to the International Monetary Fund, the U.S. spending cuts could cost the world's biggest oil consumer about 0.5 percent of its economic growth, a factor that could weigh on global oil demand.

Weekly MCX Commodity Market Report

Gold prices extended their fall at the bullion market here on Friday on hectic selling from stockists and investors amid subdued demand as well as lower global cues.
Silver also encountered heavy speculative selling pressure and dropped below the Rs 55,000 per kg-level on the back of poor industrial buying.
Standard gold of 99.5 per cent purity dropped Rs 110 to close at Rs 29,410 per 10 gm from Thursday's closing level of Rs 29,520. Pure gold of 99.9 per cent purity also dipped by a similar margin to end at Rs 29,545 per 10 gm from Rs 29,655.
Silver ready (.999 fineness) slumped Rs 925 to conclude at Rs 54,610 per kg from Rs 55,535 previously.
At the global front, gold declined further on strong dollar and a series of buoyant US economic data lowering the yellow metal's safe haven appeal.

Copper prices fell further by Rs 2 per kg on the local non-ferrous metal market today owing to fall in industrial demand and reports of a weak global trend.
The following are metal rates per kg: Zinc ingot 121-127, nickel plate (4x4) 1,067-1,070, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 441, chadri deshi 285. 
Lead ingot 147, lead imported 145, aluminium ingots 138, sheet cutting 139, aluminium wire scrap 142 and aluminium utensils scrap 138.