Showing posts with label copper updates. Show all posts
Showing posts with label copper updates. Show all posts

Daily Buzz Of Commodity Market 10/04/2013

Precious Metals
                                                        D A I L Y  B U Z Z
Gold eased at the domestic bullion market today on further selling from stockists and investors 
and subdued retail buying, mainly influenced by bearish global trend.

Silver ended stable amidst thin activity. Standard gold of 99.5 per cent purity fell by Rs 100 to 
finish at Rs 29,300 per 10 grams from Monday's closing level of Rs 29,400. 

Pure gold of 99.9 per cent purity also slid by a similar margin to conclude at Rs 29,450 per 10 
grams from Rs 29,550. 

Silver ready (.999 fineness) quoted steady at its previous level of Rs 52,500 per kilo.

Base Metals & Energy
                                                    D A I L Y  B U Z Z
Brent crude futures rose above $105 per barrel on Tuesday after data showed China's inflation 
in March was slower than expected, giving its central bank room to keep monetary policy easy 
and supportive of oil demand in the world's second-biggest consumer. 

Oil prices were also underpinned by worries over increasing tension in North Korea and a 
stalemate in talks between Iran and Western nations. 

Front-month Brent futures rose 55 cents to $105.21 per barrel by 0445 GMT, after moving in a 
$2-range and finishing 0.5 percent higher in a choppy session on Monday. 

U.S. crude futures rose 31 cents to $93.67 per barrel.

Agro Outlook
                                                  D A I L Y  B U Z Z
Chilli prices moved down by 2.49 per cent to Rs 6,200 per quintal in futures market today as speculators reduced their holdings due to weak demand in the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, chilli for delivery in April moved down by Rs 158, or 2.49 per cent to Rs 6,200 per quintal with an open interest of 2,010 lots. 

Likewise, the spice for delivery in May traded lower by Rs 128, or 1.89 per cent to Rs 6,632 per quintal in 20,230 lots.

Jeera prices rose by Rs 40 to Rs 13,677.50 per quintal in futures market today as speculators enlarged their positions, driven by pick up in exports demand. . 

Bullions, Base-Metals and Energy Updates


Bullion
      Gold rallied over 1.5 percent on Friday, its biggest one-day gain since November, as disappointing U.S. job data fuelled expectations the Federal Reserve will continue its bullion-friendly bond purchases The metal snapped three consecutive days of sharp losses after the Labor Department said U.S. employers in March hired at the slowest pace in nine months, adding just 88,000 non-farm jobs. Heavy gold short-covering and sharp losses in U.S. equities also lifted bullion prices.  

Base—Metals
      Copper fell on Friday to within sight of the eight-month lows it hit on Thursday, after far weaker than expected U.S. jobs data spooked investors about the state of the world's largest  economy. A two-day holiday in top copper consumer China has also dampened demand for the metal. Friday's data showed American employers hired at the slowest pace in nine months in March, a sign that Washington's austerity drive could be stealing momentum from the economy. 

Energy
      Crude tumbled after payroll data showed fewer jobs were added in March than expected in the U.S., the world’s largest oil user. Oil fell earlier in the week after the Energy Department reported that storage levels were at their highest levels since 1990 even though refiners had begun to ramp up gasoline production to get ready for the summer driving season. 

Weekly MCX Commodity Market Upadtes and Tips


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.

Commodity Market News and Trading Tips Today

GOLD HITS 4-WEEK TOP ON EUROPE WOES, ASIA DEMAND.
CRUDE OIL OFF STEADY AHEAD OF U.S STOCKPILES.
COPPER STEADY, CHINA HOLDS BACK PURCHASES BEFORE HOLIDAYS.
DOMESTIC OIL AND OILSEED TRADE STEADY.

MCX Commodity Tips - NCDEX Agri Commodity Market Data

Precious/Bullion metals (Gold and Silver) are trading higher on MCX commodity market today. We expect prices to trade higher today. Industrial/Base metals are trading higher on International bourses today. We expect prices to trade lower for the day on account of weak china's trade data and worries about the euro  zone. Crude oil is trading higher on MCX today. We expect prices to trade higher for the day.

Outlook for Soybean is seen up for the day. CPO is expected to trade higher. Guar Complex is expected to trade lower for the day. Outlook for Chana is down for the day. Outlook for Jeera is sideways to up for the day. Pepper futures to trade higher for the day.

MCX-NCDEX Commodity Updates and Trading Tips Today

MCX Copper Prices have support at 408 and resistance at 413. MCX Gold February contract may trade in range 27,850-27,400. Precious/Bullions metals (Gold and Silver) are trading flat on MCX commodity market today. We expect prices to remain range bound for the day. All base metals are trading higher on International bourses today. We expect prices to trade lower on account of worries over the euro zone's funding ability. Crude oil is trading flat on MCX today. We expect prices to trade lower for the day.

Pepper futures extended the steady trend for the third consecutive trading sessions. Jeera contracts ended up as overseas demand is expected to improve. Cardamom futures are likely to trade higher despite higher arrivals as there was good demand from both domestic and overseas buyers. Pepper futures prices opened higher and closed the day negatively at 32775. A trend line support is seen at 32670, break below the same may continue the weakness towards 32500/32100 followed by 31800 levels for the day.

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Free Commodity tips | mcx trading tips | mcx silver tips

MCX Gold February contract may trade in range 27,850-27,400. Support for February copper is seen at Rs.405 while resistance is seen at Rs.416. All base metals are trading on a negative note today.

Precious metals (Gold and Silver) are trading higher on MCX commodity market today. We expect prices to trade higher on account of encouraging economic data from the United States and Europe, as well as expectations of further monetary easing in the United States. All base metals are trading lower on International bourses today. We expect prices to trade lower for the day as worries that the financial crisis in the euro zone will slow global economic growth overrode optimism from upbeat U.S. economic data. Crude oil is trading flat on MCX today. We expect prices to trade higher for the following trading session.

mcx gold tips, mcx silver tips, copper updates, crude updates

After very long time we can see amny movements in the prices of gold, silver, copper, crude oil in mcx commodity market. All are trading at positive price. Gold is trading in the range of Rs. 27,400-27,700 and Silver is trading above Rs. 52,000. Today MCX Crude Oil touch its high level of Rs. 5400. Crude is trading in the range of Rs. 5340-5420 in upcoming trading session. Copper is trading in the range of Rs. 404-414 in upcoming trading session. We assume that all are trading at higher levels today.

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

MCX Gold February
Gold prices have reversed after taking support at 26,500 levels. There is a positive divergence seen in RSI on the daily chart. We expect prices to go up to levels of 27,900.

MCX Silver March
Silver prices are taking support at levels of 48,500. Immediate resistance is at 51,600 levels. If we get a close above 51,600 we expect prices to go up to levels of 53,500. We recommend a buy above 51,600 levels with a stop loss placed below 50,000 levels for a target of 53,500.

MCX Crude Oil January
Crude oil prices are taking resistance at 5,400 levels. If prices close below 5,260 levels we expect prices to correct up to levels of 5,100.

MCX Natural Gas January
Natural gas prices continue to stay in a sideways consolidation, in the range of 160-167 levels. As prices are near the lower band of the range and the oscillators are in the oversold territory we expect a technical bounce up to levels of 167.

MCX Copper February
Copper prices are trading close to its resistance level of 407. If prices close above 407 we expect prices to go up to levels of 415. We recommend a buy above 407 levels with a stop loss placed below 401 levels for a target of 415.

MCX Gold tips, silver tips, Copper updates, Crude updates

Today MCX Commodity market is trading totally opposite as compare to yesterday. Gold, Silver, Copper, Crude and other base metals are trading at positive price. MCX Gold is trading above Rs. 27,000 and MCX Silver is trading above Rs. 51,000. Yesterday Silver touch the low level of Rs. 49,100, it was very low in last some months. MCX Copper is trading above Rs. 400, it is trading in the range of Rs. 402-408 and MCX Crude Oil is trading in the range of Rs. 5280-5350in today's trading session. All base metals are trading on a positive note today.

MCX Gold and Silver Tips, Copper and Crude Updates

MCX Gold February
Gold prices continue to stay in a sideways consolidation mode in the range of 27,000-28,000 levels.
Major support in MCX Gold is 25500 and 24000
Major resistance in MCX Gold is 28700 and 29500

MCX Silver March
Silver prices continue to stay in a sideways consolidation mode in the range of 52,700-54,300 levels. For this week MCX Silver 57000 and 59000 will act as major resistance and 51500 and 49500 will act as major supports.

MCX Crude Oil December
Crude oil prices are taking resistance at 5,310 levels. If prices close below 5,260 levels we expect prices to correct up to levels of 5,100. For this week MCX Crude Oil major resistance is found at 5400 and 5600 and major supports will be 4900 and 4600.

MCX Natural Gas December
Natural gas prices continue to stay in a sideways consolidation mode in the range of 162-170 levels. For this week MCX Natural Gas major resistance would be 195 and 205, supports would be found at 155 and 143.

MCX Copper February
Copper prices are trading close to its resistance level of 407. If prices close above 407 we expect prices to go up to levels of 415. For this week MCX Copper major resistance would be 420 and 430 and supports would be found at 390 and 375.