Mcx Commodity Market News : Evening Session - 18.08.2016
Free Mcx Commodity Trend Update ( Call - 9094047040)
Click Here & Register To Get 2 days Trial Tips
Join Our Whatsapp No : 9841986753
Keep Refresh for Fresh Tips
Nickel roars on upbeat physical demand
18/08/2016 16:00
NICKEL: Up Trend
Nickel futures climbed almost 1 per cent during late noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for nickel from alloy-makers in the domestic spot market.
Speculation that the US Federal Reserve may keep interest rates lower for longer also bolstered the appetite for risky assets as Fed minutes showed that policymakers from the world’s top central bank were divided over the urgency to raise interest rates.
At the MCX, nickel futures for August 2016 contract is trading at Rs 691.30 per kg, up by 0.86 per cent, after opening at Rs 689.1, against a previous close of Rs 685.40. It touched the intra-day high of Rs 695.5 (at 15:44 PM).
Natural gas lower ahead of storage data
18/08/2016 15:03
NATURALGAS: DOWN Trend
Natural gas futures were trading lower during noon trade in the domestic market on Thursday as investors and speculators exited positions in the energy commodity ahead of weekly US stockpile data to gauge the strength of the demand for the fuel in the world’s biggest consumer of gas.
Gas supplies in the US are likely to have risen in the range of 24 billion cubic feet and 35 billion cubic feet in the week ended August 12, the EIA may say on Thursday.
In the previous week, US storage levels witnessed a gain of 29 billion cubic feet while the year ago rise was 52 billion cubic feet and the five-year average at 57 billion cubic feet.
At the MCX, Natural gas futures for August 2016 contract were trading at Rs 175.5 per mmbtu, down by 0.34 per cent, after opening at Rs. 175.2, against the previous closing price of Rs. 176.1. It touched the intra-day low of Rs. 175.2. (At 14:55 PM).
Silver buoyed by Fed rate outlook
18/08/2016 14:36
SILVER: Up Trend
Silver futures rose during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal tracking a rally overseas as a weaker dollar bolstered the appeal of silver as an alternative asset.
Weaker greenback makes silver cheaper for those holding other currencies, thus boosting demand.
Further, US Fed minutes showed that officials in July were split over the need to raise interest rates again, in the near-term as they agreed to wait for some more data before deciding on such a move, bolstering the lure for the bullion as a store of value.
At the MCX, silver futures for September 2016 contract is trading at Rs 46,103 per kg, up by 0.47 per cent, after opening at Rs 46,275, against a previous close of Rs 45,886. It touched the intra-day high of Rs 46,344. (At 14:30 PM).
Upbeat physical demand lifts Zinc
18/08/2016 13:55
ZINC: Up Trend
Zinc futures rose during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Further, speculation that interest rates in the US may stay lower for longer bolstered risk taking appetite as Fed minutes showed that policymakers from the world’s top central bank were divided over the urgency to raise interest rates.
At that MCX, zinc futures for August 2016 contract is trading at Rs 153.4 per kg, up by 0.72 per cent, after opening at Rs 153.3, against a previous close of Rs 152.3. It touched the intra-day high of Rs 153.4. (At 13:54 PM).
Copper Bulls rule the roost
18/08/2016 13:30
COPPER: Up Trend
Copper futures rose during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for copper in the domestic spot market.
Further, easing worries over a Federal Reserve interest rate hike in September also bolstered the appetite for risky assets as Fed minutes showed that policymakers from the world’s top central bank were divided over the urgency to raise interest rates.
At the MCX, copper futures for August 2016 contract is trading at Rs 321.4 per kg, up by 0.75 per cent, after opening at Rs 320, against a previous close of Rs 319. It touched the intra-day high of Rs 321.7. (At 13:02 PM).
Firm physical demand buoys Mentha Oil
18/08/2016 12:26
MENTHAOIL: Up Trend
Mentha oil futures rose during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for mentha oil from major consuming industries in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major mentha oil producing belts in the country also exerted upward pressure on domestic mentha oil prices.
At the MCX, mentha oil futures for August 2016 contract were trading at Rs 895.4 per kg, up by 0.31 per cent after opening at Rs 892.1, against the previous closing price of Rs 892.6. It touched the intra-day high of Rs 897. (At 12:23 PM).
Cardamom spikes over 2% on firm physical demand
18/08/2016 12:25
CARDAMOM: Up Trend
Cardamom futures rose by more than 2 per cent during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for cardamom in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major cardamom producing belts in the country also exerted upward pressure on domestic cardamom prices.
At the MCX, cardamom futures for September 2016 contract is trading at Rs 1,120 per kg, up by 2.41 per cent, after opening at Rs 1,113.6, against a previous close of Rs 1,093.60. It touched the intra-day high of Rs 1,137.3 (at 12:21 PM).
Fed minutes spur Gold rally
18/08/2016 12:10
GOLD: Up Trend
Gold futures rose during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the yellow metal after US Fed minutes showed that officials in July were split over the need to raise interest rates again in the near-term as they agreed to wait for some more data before deciding on such a move, bolstering the lure for the bullion as a store of value.
Further, a weaker dollar bolstered the appeal of gold as an alternative asset. Weaker greenback makes gold cheaper for those holding other currencies, thus boosting demand.
At the MCX, Gold futures for October 2016 contract is trading at Rs 31,484, per 10 gram, up by 0.37 per cent after opening at Rs 31,399, against the previous closing price of Rs 31,368. It touched the intra-day high of Rs 31,500. (At 12:08 PM).
