Mcx Commodity Market News : Morning Session - 14.9.2016
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
Crude oil in reverse gear as IEA trims demand forecast
14/09/2016 10:09
CRUDEOIL: DOWN TREND
Crude oil futures were trading lower in the domestic market on Wednesday as investors and speculators exited positions in the energy commodity as the International Energy Agency (IEA) downgraded its crude-demand predictions and warned that supply will continue to outpace demand well into 2017.
The IEA in its closely watched monthly report downgraded its global oil demand forecast by about 100,000 barrels a day for this year to growth of 1.3 million barrels a day, and cut its forecast for 2017 by 200,000 barrels to growth of 1.2 million barrels a day.
At the MCX, crude oil futures for September 2016 contract is trading at Rs 3,026 per barrel, down by 0.23 per cent, after opening at Rs 3,033, against a previous close of Rs 3,033. It touched the intra-day low of Rs 3,026 (at 10:01 hours).
White metal rises on speculation
14/09/2016 09:54
SILVER: UPTREND
Silver futures closed higher in the domestic market on Tuesday as investors and speculators extended their positions in the precious metal amid speculation about the pace and timing of the 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 from 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 closed at Rs 45,513 per kg, up by 0.15 per cent, after opening at Rs 45,800, against a previous close of Rs 45,447. It touched the intra-day high of Rs 45,850.
Gold shines on dovish Fed comments
14/09/2016 09:43
GOLD: DOWN TREND
Gold futures closed higher in the domestic market on Tuesday as investors and speculators extended their positions in the precious metal after a top US Fed official quelled expectation of an interest rate hike next week.
The Fed should avoid removing support for the US economy too quickly, Board Governor Lael Brainard had said on Monday in comments that supported the view the central bank would leave rates unchanged next week.
Safe haven assets become attractive for investors amid global uncertainity, thus rising demand for gold.
At the MCX, gold futures for October 2016 contract ended at Rs 31,097 per 10 grams, up by 0.25 per cent, after opening at Rs 31,041, against a previous close of Rs 31,019. It touched the intra-day high of Rs 31,179.
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
Crude oil in reverse gear as IEA trims demand forecast
14/09/2016 10:09
CRUDEOIL: DOWN TREND
Crude oil futures were trading lower in the domestic market on Wednesday as investors and speculators exited positions in the energy commodity as the International Energy Agency (IEA) downgraded its crude-demand predictions and warned that supply will continue to outpace demand well into 2017.
The IEA in its closely watched monthly report downgraded its global oil demand forecast by about 100,000 barrels a day for this year to growth of 1.3 million barrels a day, and cut its forecast for 2017 by 200,000 barrels to growth of 1.2 million barrels a day.
At the MCX, crude oil futures for September 2016 contract is trading at Rs 3,026 per barrel, down by 0.23 per cent, after opening at Rs 3,033, against a previous close of Rs 3,033. It touched the intra-day low of Rs 3,026 (at 10:01 hours).
White metal rises on speculation
14/09/2016 09:54
SILVER: UPTREND
Silver futures closed higher in the domestic market on Tuesday as investors and speculators extended their positions in the precious metal amid speculation about the pace and timing of the 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 from 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 closed at Rs 45,513 per kg, up by 0.15 per cent, after opening at Rs 45,800, against a previous close of Rs 45,447. It touched the intra-day high of Rs 45,850.
Gold shines on dovish Fed comments
14/09/2016 09:43
GOLD: DOWN TREND
Gold futures closed higher in the domestic market on Tuesday as investors and speculators extended their positions in the precious metal after a top US Fed official quelled expectation of an interest rate hike next week.
The Fed should avoid removing support for the US economy too quickly, Board Governor Lael Brainard had said on Monday in comments that supported the view the central bank would leave rates unchanged next week.
Safe haven assets become attractive for investors amid global uncertainity, thus rising demand for gold.
At the MCX, gold futures for October 2016 contract ended at Rs 31,097 per 10 grams, up by 0.25 per cent, after opening at Rs 31,041, against a previous close of Rs 31,019. It touched the intra-day high of Rs 31,179.
