Free Commodity Tips and News
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Zinc in reverse gear despite upbeat China data 05/07/2016 11:10
Zinc futures fell during morning trade in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
Traders cast aside data showing the quickest pace of expansion in Chinese services activity in 11 months in June, signaling an easing economic slowdown in the world’s biggest metals consuming nation, improving the demand outlook for zinc. A gauge measuring China’s services activity climbed to 52.7 in June, up from 51.2 in May, with a reading above 50 signaling expansion.
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Crude oil up on Asian cues 05/07/2016 10:33
Crude oil futures closed higher in the domestic market on Monday as speculators raised their bets amid a firm trend overseas.
Analysts said tracking firm Asian trend as Brent holding above USD 50 after Nigerian militants claimed fresh attacks on the country's oil infrastructure, influenced crude futures.
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Silver rises on global cues 05/07/2016
Silver futures closed higher in the domestic market on Monday as investors continued to search for safety tracking positive cues from overseas amid talk of fresh central-bank stimulus to avoid economic damage from Brexit.
Analysts said widening of bets by participants after silver rallied to near a two-year high as investors speculated central banks will have to continue supporting the economy in the wake of Britain's vote to leave the EU, influenced white metal prices at futures trade.
At the MCX, Silver futures for July 2016 contract closed at Rs 47,450, per 10 grams
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Gold shines amid fading rate hike expectation 05/07/2016
Gold futures closed higher in the domestic market on Monday amid fading expectations of a US Fed's rate hike in the next couple of months and as investors digested the political and economic aftermath of Brexit.
Further, market players ruled out further rate hikes by the Fed this year in the aftermath of Brexit. In fact, futures markets are now reflecting a chance that the Fed could actually cut interest rates before the end of the year.
At the MCX, Gold futures for August 2016 contract closed at Rs 31,746, per 10 grams,
