Free Commodity News and Tips - 07.07.2016
Copper futures dip on global cues
07/07/2016 10:39
Copper futures were trading higher during the morning trade in the domestic market on Thursday led by rise in demand in the domestic markets tracking a weak trend in overseas markets.
Analysts said that the weak cues at global markets and rise in demand at domestic spot markets followed by the release of the US Fed meeting minutes, which showed that the majority of Fed members were cautious to adjust rates following poor US labour data and Brexit vote, influenced the rise in copper futures.
At the MCX, Copper futures for August 2016 contract is trading at Rs 324.55 per kg
*****************************************************
Cardamom futures fall 1.84% on sluggish demand
07/07/2016 10:28
Cardamom futures were trading lower during the morning trade in the domestic market on Thursday as participants locked-in gains at prevailing levels amid fall in demand in the spot market.
Moreover, adequate stock position following increased arrivals from producing regions too fueled the downtrend.
At the MCX, Cardamom futures for July 2016 contract is trading at Rs 824.90 per kg
*****************************************************
Yellow metal up 0.01% on dollar softening
07/07/2016 10:23
Gold futures were trading nearly flat during the morning trade in the domestic market on Thursday after US dollar softening amid fresh selling of the US currency by banks and exporters amid foreign fund inflows.
Analysts said that higher opening in domestic equity markets and a weakness in dollar against some currencies overseas, rose demand for safe-haven assets.
At the MCX, gold futures for August 2016 contract is trading at Rs 31,690 per 10 grams,
******************************************************
White metal in reverse gear on profit-booking
07/07/2016 10:17
Silver futures were trading lower during the morning trade in the domestic market on Thursday as traders booked-profit at prevailing levels amid a weak trend overseas.
Analysts said the decline in silver in the futures trade attributed to a fall in demand for safe haven assets tracking a weak trend overseas followed by the release of the US Fed meeting minutes, which showed that the majority of Fed members were cautious to adjust rates following poor US labour data and Brexit vote.
At the MCX, silver futures for September 2016 contract is trading at Rs 47,779 per 10 grams
