Mcx Commodity Market News : Evening Session - 05.08.2016
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Yellow metal slips on caution ahead of US jobs data
05/08/2016 15:26
GOLD : Down Trend
Gold futures were trading lower during the afternoon trade in the domestic market on Friday as participants stayed cautious over booking fresh positions in the precious metal ahead of the crucial US July jobs data which could have a bearing on the timing of the US Fed’s next interest rate hike.
Analysts are expecting a 180K addition to US non-farm payrolls in July after a 287,000 increase in June. Solid jobs numbers may bolster the case for a rate hike in 2016.
Gold, which is a hedge against the inflationary risk of monetary stimulus, received support from fresh policy easing by Bank of England that cut interest rates to a record low and expanded asset purchases to help cushion Britain’s economy from the fallout of Brexit.
At the MCX, gold futures for August 2016 contract is trading at Rs 31,580 per 10 grams, down by 0.13 per cent, after opening at Rs 31,600, against a previous close of Rs 31,620. It touched the intra-day low of Rs 31,530 (at 15:14 hours).
Crude oil futures slide on uncertain US demand outlook
05/08/2016 14:23
CRUDEOIL : Down Trend
Crude oil futures were trading lower during the afternoon trade in the domestic market on Friday as participants exited positions in the energy commodity as traders weighed disappointing US data which showed a rise in US jobless claims and a drop in factory orders, signaling a slowdown in the world’s biggest economy that may cap fuel demand.
The number of Americans who filed applications to seek jobless benefits climbed by 3,000 to 269,000 last week while factory orders fell for a second straight month, down by 1.5 per cent in June.
At the MCX, Crude oil futures for August 2016 contract is trading at Rs 2,796 per barrel, down by 0.50 per cent, after opening at Rs 2,805, against a previous close of Rs 2,810. It touched the intra-day low of Rs 2,777 (at 14:21 hours).
Mentha oil futures drop on sluggish demand
05/08/2016 13:47
MENTHAOIL : Down Trend
Mentha oil futures were trading little changed during the afternoon trade in the domestic market on Friday as investors and speculators trimmed their bets in the agri-commodity amid fall in the 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, down by 0.06 per cent after opening at Rs 927, against the previous closing price of Rs 929.10. It touched the intra-day low of Rs 923.40 (at 13:45 hours).
Lead futures up by 0.33% on spot demand
05/08/2016 12:33
LEAD : Down Trend
Lead futures were trading higher during the noon trade in the domestic market on Friday as investors and speculators widened their bets in the industrial metal amid rise in physical demand for lead in the domestic spot market. At the MCX, Lead futures for August 2016 contract is trading at Rs 120.40 per kg, up by 0.33 per cent, after opening at Rs 120.60, against a previous close of Rs 120. It touched the intra-day high of Rs 120.75 (at 12:26 hours).
White metal loses sheen on weak global cues
05/08/2016 12:29
SILVER : Down Trend
Silver futures were trading lower during the noon trade in the domestic market on Friday as participants exited positions in the precious metal traking weak cues from overseas markets.
Further, offloading of positions by participants, tracking a weak trend in global markets, mainly led to the fall in silver prices at futures trade.
At the MCX, silver futures for September 2016 contract is trading at Rs 47,620 per kg, down by 0.12 per cent, after opening at Rs 47,605, against a previous close of Rs 47,677. It touched the intra-day low of Rs 47,508 (at 12:26 hours).
Firm physical demand lifts Cardamom
05/08/2016 12:20
CARDAMOM : Up Trend
Cardamom futures rose during noon trade in the domestic market on Friday 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 arrivals from the major cardamom producing belts in the country also exerted upward pressure on domestic cardamom prices.
At the MCX, cardamom futures for August 2016 contract is trading at Rs 960 per kg, up by 0.79 per cent, after opening at Rs 962.80, against a previous close of Rs 952.50. It touched the intra-day high of Rs 962.80 (at 12:07 PM).
