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MCX Commodity Market Updates Today 05 April 2013

2:44 AM Anonymous 1

Precious metals prices are trading lower on COMEX today. In the evening session we have the Non Farm Payrolls and Unemployment rate data to be released by the US. Any further rise in employment numbers may limit the downside in bullion prices.

Industrial metals prices are trading a tad higher on international bourses today. Supply worries from major mines in Chile, may support the prices of copper. Buying at dips is recommended for the day.

Crude oil is trading marginally higher on NYMEX today. We expect prices to remain under pressure for the day on account of record high inventories and renewed concerns over the

debt crisis of Euro zone.

MCX Commodity Market Report Today 25 March 2013

11:24 PM Anonymous 0

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 Updates and Trading Tips Today

1:05 AM Anonymous 3

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.

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

2:15 AM Anonymous 5

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.

Weekly MCX Commodity Market Report and Trading Tips

2:26 AM Anonymous 2

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

11:03 PM Anonymous 2

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 Commodity Tips ~ Market Data Today 06 March 2013

1:33 AM Anonymous 2

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

11:44 PM Anonymous 2

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

11:35 PM Anonymous 1

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.

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.

MCX Gold, Silver, Copper, Crude Oil Tips Today 28 Feb. 2013

1:19 AM Anonymous 2

Bullion: Gold futures were down on domestic exchanges noting the rupee's rise against the dollar and the fall in international prices. On the COMEX, gold futures slipped on profit booking. The metal had gained sharply on Tuesday, after US Federal Reserve Chairman Ben Bernanke hinted that the central bank's bond-buying policy will continue.

Metals: Domestic base metal futures were trading lower tracking the strength in the against the US dollar, but rangebound movement in the London Metal Exchange benchmark contract limited the fall. Metal contracts on LME slightly edged up on weak dollar against the euro and as market gained support from positive comments from the US Federal Reserve Chairman Ben Bernanke.

Energy: Domestic crude oil futures were trading lower due to the appreciation in the rupee against the dollar, but rise in benchmark contracts on the New York Mercantile Exchange limited the losses. NYMEX crude oil gained today due to weakness in the dollar against the euro and as sentiment improved in the international market following positive comments from the US Federal Reserve Chairman Ben Bernanke.

MCX Bullion, Metals, Energy Updates and Tips Today

12:18 AM Anonymous 1

Bullion: Gold futures were up on domestic exchanges tracking rise in international prices and due to a weak rupee against the dollar. On COMEX, gold futures rose and surpassed the $1,600 an ounce level as concerns over Italian elections boosted safe-haven demand of the metal. The weakness in the dollar against the euro also supported prices. Spot gold prices moved to trade around $15 higher on the day Tuesday as investors digested comments from Federal Reserve Chairman Ben Bernanke as encouraging for gold-bullish loose monetary policy.

Metals: Base metal futures on MCX were trading lower tracking benchmark contracts on London Metal Exchange, where prices fell on demand concerns from China. Moreover, demand concerns from Eurozone deepened amid uncertainty regarding political instability in Italy.

Energy: Domestic crude oil futures were trading lower following weak cues from the New York Mercantile Exchange, where prices declined due to firm dollar against the euro and on likely rise in the US crude oil stocks. Besides demand concerns from China and Eurozone added to downward pressure on oil futures.

MCX Gold, Silver, Copper, Crude Oil Updates Today 26 Feb. 2013

10:56 PM Anonymous 0

Bullion: Gold futures were up on domestic exchanges tracking rise in international prices, but a firm rupee against the dollar limited the gains. On COMEX, gold futures rose due to weakness in the dollar against the euro and on bargain buying after the recent fall in prices.

Metals: Base metal futures on MCX were trading lower tracking firm rupee against the dollar, but mild upward correction in benchmark contracts on London Metal Exchange limited losses. LME contracts moved higher today on bargain buying, but demand concerns and release of discouraging Chinese manufacturing Purchasing Manager's Index data capped gains.

Energy: Domestic crude oil futures were trading lower tracking New York Mercantile Exchange and also due to appreciation in rupee against the dollar. China, the worlds second-biggest oil consumer after the U.S., and the engine for oil-demand growth, is sending mixed signals. China's crude oil imports rose in January by a healthy 7.4% from a year earlier, but early indications show manufacturing activity dropped in February to a level that barely indicates a growing economy.

Weekly MCX Commodity Market Upadtes and Tips

2:34 AM Awadesh 0

Gold firmed on Friday, extending gains from the previous session as lacklustre U.S. data bolstered hopes that the Federal Reserve's monetary stimulus would stay in place, though prices were headed for a second straight weekly drop.

Premium in gold traded in the Shanghai market over prices in global market stood at nearly $20 an ounce, compared with lower single-digit premiums at the end of 2012, indicating strong buying from China, the world's second-largest gold consumer, he added.

Spot gold rose nearly half a per cent to $1,582.54 an ounce by 0335 GMT, on course for a 1.6 per cent weekly decline, its second week in the red. U.S. gold inched up 0.3 per cent to $1,582.60. Technical analysis suggested spot gold may consolidate in the range of $1,554.49-$1,585 over the next few sessions, as indicated by its wave pattern and a Fibonacci retracement analysis. Chen expected gold to drop to as low as $1,500 an ounce by mid-year.

In limited deals, nickel prices rose by Rs 2 per kg on the local non-ferrous metal market today on some industrial demand. Traders said some industrial and a firming trend in overseas market mainly led to rise in nickel prices.

Meanwhile, nickel gained 2.1 per cent to USD 16,974 a tonne on the London Metal Exchange. In the national capital,nickel (4x4) rose by Rs 2 Rs 1072-1075 per kg.

The following are metal rates per kg: Zinc ingot 119-125, nickel plate (4x4) 1,072-1,075, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 443, chadri deshi 285.

Lead ingot 143, lead imported 141, aluminium ingots 138, sheet cutting 139, aluminium wire scrap 142 and aluminium utensils scrap 138.