Mcx Commodity Market News : 02.08.2016
Lead futures surge on pickup in demand
02/08/2016 14:03
LEAD : Down Trend
Lead futures were trading higher during the afternoon trade in the domestic market on Tuesday as investors and speculators widened their bets in the industrial metal amid increase in physical demand for lead from the battery-makers in the domestic spot market. At the MCX, Lead futures for August 2016 contract is trading at Rs 121.85 per kg, up by 0.12 per cent
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White metal shines on spot demand
02/08/2016 13:55
Silver : UP Trend
Silver futures were trading higher during the afternoon trade in the domestic market on Tuesday as speculators and investors widened their bets amid rising industrial demand. Silver rallied as speculative position created by participants as the dollar weakened overseas and the US economy grew less-than-expected in the second quarter, boosting demand for the precious metals as a store of value, supported the prices of white metal at the futures trade.
At the MCX, silver futures for September 2016 contract is trading at Rs 47,934 per kg, up by 0.45 per cent,
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Copper futures rise 0.51% on strong demand
02/08/2016 13:47
Copper : Down Trend
Copper futures were trading higher during the afternoon trade in the domestic market on Tuesday as investors widened their bets in the industrial metal amid surge in demand at the domestic spot markets. tracking the overseas cues. The prices of copper rose at futures trade led by an upward trend in base metals at the spot markets due to an increase in demand from consuming industries and tracking positive cues from global markets after a report showed that activity picked up at China’s small-to-medium size factories in July. At the MCX, copper futures for August 2016 contract is trading at Rs 327.35 per kg, up by 0.51 per cent
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Copper traders shrug off weak US, China factory data
02/08/2016 13:45
Copper : Down Trend
Copper futures fell during noon trade in the domestic market on Tuesday as investors cast aside tepid factory data from the world’s top two economies, which threatened to curb demand for the industrial metal.
While the gauge measuring US manufacturing fell to 52.6 In July from a one-year high of 53.2 in June, that in China returned to contraction territory, declining to 49.9 from 50 in June, with a reading below 50 signaling contraction.
At the MCX, copper futures for August 2016 contract is trading at Rs 327.30 per kg, up by 0.49 per cent
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Yellow metal rises on global cues
02/08/2016 12:17
Silver : UP Trend
Gold futures were trading marginally higher during the noon trade in the domestic market on Tuesday as traders widened their positions amidst gains in precious metals in the global markets as weaker-than-expected economic data were read by some traders as being tepid enough for the US Fed to refrain from raising the benchmark interest rates in September. The lower interest rates for longer tend to be supportive for precious metals prices.
At the MCX, gold futures for August 2016 contract is trading at Rs 31,560 per 10 grams, up by 0.08 per cent
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