Mcx Commodity Market News: Evening Session - 15.9.2016
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Gold flat ahead of US economic data
15/09/2016 16:58
GOLD: DOWN TREND
Gold futures were trading little changed during evening trade in the domestic market on Thursday as investors and speculators stayed cautious over booking fresh positions in the yellow metal ahead of US industrial output & retail sales numbers for August which may offer cues over the health of the world’s biggest economy and could dictate the outlook for the country’s monetary policy.
While US retail sales may have dropped 0.1 per cent in August from July, industrial production probably declined 0.3 per cent, signaling underlying economic weakness which may delay policy tightening.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,062 per 10 grams, up by 0.08 per cent, after opening at Rs 31,058, against a previous close of Rs 31,038. It touched the intra-day high of Rs 31,101 (at 16:55 PM).
Weak physical demand hits Cardamom
15/09/2016 16:57
CARDAMOM: DOWN TREND
Cardamom futures fell during evening trade in the domestic market on Thursday as investors and speculators exit positions in the agri-commodity amid weak physical demand for cardamom in the domestic spot market.
Further, abundant supplies amid higher physical arrivals from the major cardamom producing belts in the country also exerted downward pressure on domestic cardamom prices.
At the MCX, cardamom futures for September 2016 contract is trading at Rs 1,195 per kg, down by 0.33 per cent, after opening at Rs 1,210, against a previous close of Rs 1,199. It touched the intra-day low of Rs 1,190 (at 16:49 PM).
Mentha oil in reverse gear
15/09/2016 16:57
MENTHAOIL: DOWN TREND
Mentha oil futures fell during evening trade in the domestic market on Thursday as investors and speculators exit positions in the agri-commodity amid weak physical demand for mentha oil in the domestic spot market.
Further, abundant supplies amid higher physical arrivals from the major mentha oil producing belts in the country also exerted downward pressure on domestic mentha oil prices.
At the MCX, mentha oil futures for September 2016 contract is trading at Rs 900.6 per kg, down by 0.87 per cent after opening at Rs 908.20, against the previous closing price of Rs 908.50. It touched the intra-day low of Rs 899.1 (at 16:53 PM).
Cardamom futures down 0.33% on muted demand
15/09/2016 16:52
CARDAMOM: DOWN TREND
Cardamom futures were trading lower during the evening trade in the domestic market on Thursday as investors and speculators trimmed their bets in the agri-commodity amid drop in physical demand for cardamom in the domestic spot market. Further, sufficient stocks position amid increased supplies from producing regions, influenced the downtrend in domestic cardamom prices at futures trade. At the MCX, cardamom futures for September 2016 contract is trading at Rs 1,195 per kg, down by 0.33 per cent, after opening at Rs 1,210, against a previous close of Rs 1,199. It touched the intra-day low of Rs 1,190 (at 16:48 hours).
White metal up 0.15% on speculation
15/09/2016 16:21
SILVER: UPTREND
Silver futures were trading higher in the domestic market on Thursday as investors and speculators extended their positions in the precious metal amid speculation about the pace and timing of future US interest rate hike. Prices for silver futures rise after US Fed Governor Lael Brainard on Monday argued against raising interest rates prematurely. Her comments seemed to contradict hawkish statements from Boston Fed President Eric Rosengren, who last week warned against keeping rates lower for longer, thus rising demand for silver. At the MCX, silver futures for December 2016 contract is trading at Rs 45,672 per kg, up by 0.15 per cent, after opening at Rs 45,569, against a previous close of Rs 45,605. It touched the intra-day high of Rs 45,725 (at 16:16 hours).
Oil higher on US inventory drop
15/09/2016 16:12
CRUDEOIL: UPTREND
Crude oil futures were trading with modest gains during evening trade in the domestic market on Thursday as traders cheered a surprise drop in US storage levels last week, easing fears over a global supply glut. The EIA said that US crude oil inventories fell by 0.559 million barrels in the week ended September 9, 2016 to 510.8 million barrels. Meanwhile, stockpiles at Cushing, the biggest US oil storage hub, fell by 1.245 million barrels last week. At the MCX, crude oil futures for September 2016 contract is trading at Rs 2,944 per barrel, up by 0.20 per cent, after opening at Rs 2,940, against a previous close of Rs 2,938. It touched the intra-day high of Rs 2,947 (at 16:08 PM).
Gold futures little changed as speculators widen position
15/09/2016 15:55
GOLD: UPTREND
Gold futures were little changed during the evening trade in the domestic market on Thursday as investors and speculators widened their positions in the precious metal despite weak trend overseas. Traders attributed the rise in gold prices at futures trade to widening of positions by speculators however a weak trend in the precious metals overseas, capped the gains. At the MCX, gold futures for October 2016 contract is trading at Rs 31,055 per 10 grams, up by 0.05 per cent, after opening at Rs 31,058, against a previous close of Rs 31,038. It touched the intra-day high of Rs 31,101 (at 15:49 hours).
Copper futures up 0.28% on spot demand, global cues
15/09/2016 14:12
COPPER: UPTREND
Copper futures were trading higher during the afternoon trade in the domestic market on Thursday as investors and speculators widened their positions in the industrial metal on upsurge in demand from consuming industries in the spot market and tracking firm trend in base metals overseas. Further, uptick in demand at the spot market followed by a firming trend in global markets as strong economic data from China fueled speculation that demand will strengthen in China, the world's largest metals consumer, supported copper prices at futures trade. At the MCX, copper futures for November 2016 contract is trading at Rs 323.45 per kg, up by 0.28 per cent, after opening at Rs 323, against a previous close of Rs 322.55. It touched the intra-day high of Rs 324.55 (at 14:08 hours).
Lead futures rise on spot demand
15/09/2016 12:35
LEAD: UPTREND
Lead futures were trading higher during the noon trade in the domestic market on Thursday as investors and speculators widened their bets in the industrial metal due to upsurge in physical demand for lead from battery-makers in domestic spot market.
Further, building up of fresh positions by traders led to a rise in demand from battery-makers in the domestic spot market, supported lead prices at futures trade. At the MCX, lead futures for September 2016 contract is trading at Rs 130.60 per kg, up by 0.23 per cent, after opening at Rs 130.50, against a previous close of Rs 130.30. It touched the intra-day high of Rs 130.80 (at 12:33 hours).
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Click Here & Register To Get 2 days Trial Tips
Join Our Whatsapp No : 9841986753
Keep Refresh for Fresh Tips
Gold flat ahead of US economic data
15/09/2016 16:58
GOLD: DOWN TREND
Gold futures were trading little changed during evening trade in the domestic market on Thursday as investors and speculators stayed cautious over booking fresh positions in the yellow metal ahead of US industrial output & retail sales numbers for August which may offer cues over the health of the world’s biggest economy and could dictate the outlook for the country’s monetary policy.
While US retail sales may have dropped 0.1 per cent in August from July, industrial production probably declined 0.3 per cent, signaling underlying economic weakness which may delay policy tightening.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,062 per 10 grams, up by 0.08 per cent, after opening at Rs 31,058, against a previous close of Rs 31,038. It touched the intra-day high of Rs 31,101 (at 16:55 PM).
Weak physical demand hits Cardamom
15/09/2016 16:57
CARDAMOM: DOWN TREND
Cardamom futures fell during evening trade in the domestic market on Thursday as investors and speculators exit positions in the agri-commodity amid weak physical demand for cardamom in the domestic spot market.
Further, abundant supplies amid higher physical arrivals from the major cardamom producing belts in the country also exerted downward pressure on domestic cardamom prices.
At the MCX, cardamom futures for September 2016 contract is trading at Rs 1,195 per kg, down by 0.33 per cent, after opening at Rs 1,210, against a previous close of Rs 1,199. It touched the intra-day low of Rs 1,190 (at 16:49 PM).
Mentha oil in reverse gear
15/09/2016 16:57
MENTHAOIL: DOWN TREND
Mentha oil futures fell during evening trade in the domestic market on Thursday as investors and speculators exit positions in the agri-commodity amid weak physical demand for mentha oil in the domestic spot market.
Further, abundant supplies amid higher physical arrivals from the major mentha oil producing belts in the country also exerted downward pressure on domestic mentha oil prices.
At the MCX, mentha oil futures for September 2016 contract is trading at Rs 900.6 per kg, down by 0.87 per cent after opening at Rs 908.20, against the previous closing price of Rs 908.50. It touched the intra-day low of Rs 899.1 (at 16:53 PM).
Cardamom futures down 0.33% on muted demand
15/09/2016 16:52
CARDAMOM: DOWN TREND
Cardamom futures were trading lower during the evening trade in the domestic market on Thursday as investors and speculators trimmed their bets in the agri-commodity amid drop in physical demand for cardamom in the domestic spot market. Further, sufficient stocks position amid increased supplies from producing regions, influenced the downtrend in domestic cardamom prices at futures trade. At the MCX, cardamom futures for September 2016 contract is trading at Rs 1,195 per kg, down by 0.33 per cent, after opening at Rs 1,210, against a previous close of Rs 1,199. It touched the intra-day low of Rs 1,190 (at 16:48 hours).
White metal up 0.15% on speculation
15/09/2016 16:21
SILVER: UPTREND
Silver futures were trading higher in the domestic market on Thursday as investors and speculators extended their positions in the precious metal amid speculation about the pace and timing of future US interest rate hike. Prices for silver futures rise after US Fed Governor Lael Brainard on Monday argued against raising interest rates prematurely. Her comments seemed to contradict hawkish statements from Boston Fed President Eric Rosengren, who last week warned against keeping rates lower for longer, thus rising demand for silver. At the MCX, silver futures for December 2016 contract is trading at Rs 45,672 per kg, up by 0.15 per cent, after opening at Rs 45,569, against a previous close of Rs 45,605. It touched the intra-day high of Rs 45,725 (at 16:16 hours).
Oil higher on US inventory drop
15/09/2016 16:12
CRUDEOIL: UPTREND
Crude oil futures were trading with modest gains during evening trade in the domestic market on Thursday as traders cheered a surprise drop in US storage levels last week, easing fears over a global supply glut. The EIA said that US crude oil inventories fell by 0.559 million barrels in the week ended September 9, 2016 to 510.8 million barrels. Meanwhile, stockpiles at Cushing, the biggest US oil storage hub, fell by 1.245 million barrels last week. At the MCX, crude oil futures for September 2016 contract is trading at Rs 2,944 per barrel, up by 0.20 per cent, after opening at Rs 2,940, against a previous close of Rs 2,938. It touched the intra-day high of Rs 2,947 (at 16:08 PM).
Gold futures little changed as speculators widen position
15/09/2016 15:55
GOLD: UPTREND
Gold futures were little changed during the evening trade in the domestic market on Thursday as investors and speculators widened their positions in the precious metal despite weak trend overseas. Traders attributed the rise in gold prices at futures trade to widening of positions by speculators however a weak trend in the precious metals overseas, capped the gains. At the MCX, gold futures for October 2016 contract is trading at Rs 31,055 per 10 grams, up by 0.05 per cent, after opening at Rs 31,058, against a previous close of Rs 31,038. It touched the intra-day high of Rs 31,101 (at 15:49 hours).
Copper futures up 0.28% on spot demand, global cues
15/09/2016 14:12
COPPER: UPTREND
Copper futures were trading higher during the afternoon trade in the domestic market on Thursday as investors and speculators widened their positions in the industrial metal on upsurge in demand from consuming industries in the spot market and tracking firm trend in base metals overseas. Further, uptick in demand at the spot market followed by a firming trend in global markets as strong economic data from China fueled speculation that demand will strengthen in China, the world's largest metals consumer, supported copper prices at futures trade. At the MCX, copper futures for November 2016 contract is trading at Rs 323.45 per kg, up by 0.28 per cent, after opening at Rs 323, against a previous close of Rs 322.55. It touched the intra-day high of Rs 324.55 (at 14:08 hours).
Lead futures rise on spot demand
15/09/2016 12:35
LEAD: UPTREND
Lead futures were trading higher during the noon trade in the domestic market on Thursday as investors and speculators widened their bets in the industrial metal due to upsurge in physical demand for lead from battery-makers in domestic spot market.
Further, building up of fresh positions by traders led to a rise in demand from battery-makers in the domestic spot market, supported lead prices at futures trade. At the MCX, lead futures for September 2016 contract is trading at Rs 130.60 per kg, up by 0.23 per cent, after opening at Rs 130.50, against a previous close of Rs 130.30. It touched the intra-day high of Rs 130.80 (at 12:33 hours).
