Mcx Commodity Market News : Evening Session - 10.08.2016
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Gold up on positive global cues
10/08/2016 16:44
GOLD: Up Trend
Gold futures were trading higher during the evening trade in the domestic market on Wednesday as participants widened their bets in the precious metal amid positive cues from the global markets.
Further, the rise in demand for gold was led by a firm trend overseas where it rebounded from the lowest in a week as dollar weakened, surging demand for the precious metal as a safe haven.
At the MCX, gold futures for October 2016 contract was trading at Rs 31,475 per 10 grams, up by 0.65 per cent, after opening at Rs 31,324, against a previous close of Rs 31,273. It touched the intra-day high of Rs 31,550 (at 16:48 hours).
Crude oil futures drag by 1.26% on US supply rise
10/08/2016 15:33
CRUDEOIL: Down Trend
Crude oil futures were trading lower during the afternoon trade in the domestic market on Wednesday as investors and speculators trimmed their bets in the energy commodity as the biggest US crude oil build in three months renewed worries over a global supply glut. The industry-funded American Petroleum Institute (API) said that US crude oil stockpiles rose by 2.1 million barrels during the week to August 5, 2016. Markets were expecting a drop of 1 million barrels in US crude oil inventories last week. The EIA will release separate US inventory data on Wednesday. At the MCX, crude oil futures for August 2016 contract is trading at Rs 2,826 per barrel, down by 1.26 per cent, after opening at Rs 2,860, against a previous close of Rs 2,862. It touched the intra-day low of Rs 2,816 (at 15:29 hours).
Copper futures up by 0.68% on spot demand
10/08/2016 14:00
COPPER: Up Trend
Copper futures were trading higher during the afternoon trade in the domestic market on Wednesday as investors and speculators widened their bets in the industrial metal amid surge in demand in the domestic spot markets. Further, widening of positions by speculators coupled with rise in spot demand, supported the uptrend at copper prices in futures trade. At the MCX, copper futures for August 2016 contract is trading at Rs 320.30 per kg, up by 0.68 per cent, after opening at Rs 318.60, against a previous close of Rs 318.15. It touched the intra-day high of Rs 320.60 (at 13:56 hours).
White metal zooms on global cues
10/08/2016 13:03
SILVER: Up Trend
Following gold, silver futures were trading higher during the afternoon trade in the domestic market on Wednesday as traders widened their bets in the precious metal amid a higher global trend. Further, speculators created fresh positions in-line with higher global trend, pushed silver prices higher at futures trade. At the MCX, silver futures for September 2016 contract is trading at Rs 47,150 per kg, up by 1.68 per cent, after opening at Rs 46,625, against a previous close of Rs 46,372. It touched the intra-day high of Rs 47,290 (at 12:58 hours).
Yellow metal regains sheen on positive overseas cues
10/08/2016 12:27
GOLD: Up Trend
Gold futures were trading higher during the noon trade in the domestic market on Wednesday as participants widened their bets in the precious metal amid positive cues from the global markets. Further, the rise in demand for gold was led by a firm trend overseas where it rebounded from the lowest in a week as dollar weakened, surging demand for the precious metal as a safe haven. At the MCX, gold futures for October 2016 contract is trading at Rs 31,532 per 10 grams, up by 0.83 per cent, after opening at Rs 31,324, against a previous close of Rs 31,273. It touched the intra-day high of Rs 31,550 (at 12:21 hours).
