Mcx Commodity News for Crude,Silver,copper,gold - 01.08.2016
Stronger dollar bites bullion 01/08/2016 16:46
Gold : Down Trend
Gold futures fell during evening trade in the domestic market on Monday as investors and speculators exited positions in the precious metal tracking weakness overseas as a stronger dollar curbed the lure for the bullion as an alternative asset. Stronger greenback makes the yellow metal more expensive for those holding other currencies, thus dimming gold demand. However, the losses in gold were trimmed by hopes that the US Federal Reserve may not be in a hurry to tighten interest rates after a smaller than expected gain in US GDP in Q2, bolstering the lure for the bullion as a store of value. The world’s biggest economy grew at an annualized pace of 1.2 per cent in the April-June 2016 quarter, following a 0.8 per cent advance in Q1, and against expectations of a 2.5 per cent expansion.
At the MCX, gold futures for August 2016 contract is trading at Rs 31,420 per 10 grams, down by 0.41 per cent
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Mentha oil futures spurt by 2.44% on strong demand 01/08/2016 16:04
Menthaoil : Up Trend
Mentha oil futures were trading higher during the evening trade in the domestic market on Monday as traders widened their bets in the agri-commodity amid rise in physical demand from major consuming industries for Mentha oil in the domestic spot market. At the MCX, Mentha oil futures for August 2016 contract were trading at Rs 928.50 per kg, up by 2.44 per cent
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Sluggish demand drags down cardamom futures by 0.70% 01/08/2016 15:59
Cardamom : Down Trend
Cardamom futures were trading lower during the evening trade in the domestic market on Monday as speculators trimmed their positions in the agri-commodity amid a fall in physical demand for Cardamom in the domestic spot market. Further, sufficient supplies amid higher physical arrivals from the major Cardamom producing belts in the country too exerted downward pressure on domestic Cardamom prices. At the MCX, Cardamom futures for August 2016 contract is trading at Rs 953 per kg, down by 0.70 per cent
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Oil lower as US rig count rises 01/08/2016 14:39
Crudeoil: Up Trend
Crude oil futures fell during noon trade in the domestic market on Monday as investors and speculators exited positions in the energy commodity as a fifth straight weekly rise in US oil rig count signaled higher production in the coming months, exacerbating fears over a global supply glut.
Industry-research firm Baker Hughes said that the number of rigs drilling for oil in the US rose by 3 to 374 last week. Meanwhile, a smaller than expected gain in US GDP in Q2 dimmed the demand outlook for the fuel in the world’s biggest economy which grew at an annualized pace of 1.2 per cent in the April-June 2016 quarter, following a 0.8 per cent advance in Q1. At the MCX, crude oil futures for August 2016 contract is trading at Rs 2,777 per barrel, down by 0.18 per cent
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Lead futures rise on uptick in demand 01/08/2016 14:29
Lead: Up Trend
Lead futures were trading higher during the afternoon trade in the domestic market on Monday as investors and speculators wideneded their bets in the industrial metal amid increase in physical demand for lead, from battery-makers, in the domestic spot market. Further, a firm trend in select base metals at the London Metal Exchange also kept lead prices higher in futures trade. At the MCX, Lead futures for August 2016 contract is trading at Rs 123.25 per kg, up by 0.82 per cent,
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