Mcx Commodity Market News : Evening Session - 26.9.2016
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Caution keeps bullion little changed
26/09/2016 13:00
BULLION: DOWN TREND
Gold futures were trading flat, with a negative bias, in noon trade in the domestic market on Monday as investors stuck to a cautious approach ahead of comments from officials from major global central banks which will offer fresh cues over monetary policy outlooks in developed economies, while the focus was also on the outcome of the first debate between Hillary Clinton and Donald Trump, the top two contenders for the US presidency.
Fed Chair Janet Yellen will speak this week even as uncertainty continues to surround the timing of the next US interest rate hike while European Central Bank president Mario Draghi may offer fresh hints over whether the Frankfurt-based central bank is likely to bolster monetary stimulus in the coming months to help prop up the 19-member Euro area economy.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,272 per 10 grams, down by 0.03 per cent, after opening at Rs 31,236, against a previous close of Rs 31,281. It touched the intra-day low of Rs 31,211. (At 12:56 PM).
Lead futures drop 0.12% on weak demand
26/09/2016 12:23
LEAD: DOWN TREND
Lead futures were trading lower during the noon trade in the domestic market on Monday as participants cut down their positions in the industrial metal due to a fall in physical demand for lead, from battery-makers, in the domestic spot market.
Further, a decline in demand from battery-makers in the domestic spot market, influenced prices of lead at the domestic spot markets. At the MCX, lead futures for September 2016 contract is trading at Rs 127.20 per kg, down by 0.12 per cent, after opening at Rs 127.10, against a previous close of Rs 127.35. It touched the intra-day low of Rs 126.85 (at 12:23 hours).
Aluminium futures slide on diminishing demand
26/09/2016 12:19
ALUMINIUM: DOWN TREND
Aluminium futures were trading lower during the noon trade in the domestic market on Monday as participants trimmed their positions amidst sluggish physical demand for aluminium in the domestic spot market.
Further, a fall in demand for aluminium at the domestic spot market was led by cut down of positions by participants in the spot markets, influenced aluminium prices at futures trade.
At the MCX, aluminium futures for September 2016 contract is trading at Rs 108.35 per kg, down by 0.32 per cent, after opening at Rs 108.10, against a previous close of Rs 108.70. It touched the intra-day low of Rs 108 (at 12:18 hours).
Sluggish demand drags down nickel futures by 1.32%
26/09/2016 12:14
NICKEL: DOWN TREND
Nickel futures were trading lower during the noon trade in the domestic market on Monday as investors and speculators trimmed their bets amid muted physical demand from alloy-makers at the domestic spot market.
Further, a slide in domestic demand from alloy-makers at the spot markets, influenced the downtrend in nickel prices at futures trade. At the MCX, nickel futures for September 2016 contract is trading at Rs 697 per kg, down by 1.32 per cent, after opening at Rs 705, against a previous close of Rs 706.30. It touched the intra-day low of Rs 696.30 (at 12:09 hours).
Mentha oil futures rise 0.38% on spot demand
26/09/2016 12:01
MENTHAOIL: UPTREND
Mentha oil futures were trading higher during the morning trade in the domestic market on Monday as participants widened their positions in the agri-commodity amid a rise in physical demand for mentha oil from major consuming industries in the domestic spot market.
Further, the creation of fresh bets by traders in the spot market due to a surge in demand for mentha oil from consuming industries in the spot market against tight stocks position on restricted supplies from producing regions, helped mentha oil prices to trade higher at futures trade.
At the MCX, mentha oil futures for September 2016 contract were trading at Rs 880.60 per kg, up by 0.38 per cent after opening at Rs 878.30, against the previous closing price of Rs 877.30. It touched the intra-day high of Rs 881.70 (at 11:58 hours).
