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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 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.

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

3:33 AM Anonymous 1

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

3:52 AM Anonymous 0

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

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 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.