Mcx Commodity Market News : Morning Session - 2.9.2016
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Silver rises on firm global cues
02/09/2016 08:46
SILVER: UPTREND
Silver futures closed higher in the domestic market on Thursday as speculators widened their bets amid a strong trend overseas. Market analysts said speculative position built up by participants, driven by firm global trend, mainly attributed to the rise in silver prices at futures trade.
At the MCX, Silver futures for September 2016 contract closed at Rs 44,430, per 1 kg, up by 1 per cent after opening at Rs 44,179, against the previous closing price of Rs 43,988. It touched the intra-day high of Rs 44,595.
Crude oil dips on doubts of crude production freeze
02/09/2016 08:46
CRUDEOIL: DOWN TREND
Crude oil futures closed lower in the domestic market on Thursday as doubts over the potential for a crude-production freeze persisted and data showing a contraction in the U.S. manufacturing activity contributed to expectations of weaker energy demand.
Analysts said solid growth in U.S. job market would give the federal government more reasons to raise interest rates. Higher rates tend to strengthen the dollar which will add downward pressure on commodities prices traded in the greenback.
At the MCX, Crude oil futures for September 2016 contract closed at Rs. 2908 per barrel, down by 3.16 per cent, after opening at Rs. 3004, against the previous closing price of Rs. 3003. It touched the intra-day low of Rs. 2904.
Gold rises on weak dollar
02/09/2016 08:45
GOLD: UPTREND
Gold futures closed higher in the domestic market on Thursday as the dollar fell on unexpectedly weak U.S. manufacturing data that raised doubts about the economy's strength.
Investors, however, are now focused on the release on Friday of the U.S. nonfarm payrolls report for August to see whether it will put the Federal Reserve on track to raise interest rates later this year.
Gold is highly sensitive to rising U.S. interest rates, which increase the opportunity cost of holding the non-yielding asset.
At the MCX, Gold futures for October 2016 contract closed at Rs 30,780, per 10 gram, up by 0.18 per cent after opening at Rs 30,750, against the previous closing price of Rs 30,724. It touched the intra-day high of Rs 30,869.
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
Silver rises on firm global cues
02/09/2016 08:46
SILVER: UPTREND
Silver futures closed higher in the domestic market on Thursday as speculators widened their bets amid a strong trend overseas. Market analysts said speculative position built up by participants, driven by firm global trend, mainly attributed to the rise in silver prices at futures trade.
At the MCX, Silver futures for September 2016 contract closed at Rs 44,430, per 1 kg, up by 1 per cent after opening at Rs 44,179, against the previous closing price of Rs 43,988. It touched the intra-day high of Rs 44,595.
Crude oil dips on doubts of crude production freeze
02/09/2016 08:46
CRUDEOIL: DOWN TREND
Crude oil futures closed lower in the domestic market on Thursday as doubts over the potential for a crude-production freeze persisted and data showing a contraction in the U.S. manufacturing activity contributed to expectations of weaker energy demand.
Analysts said solid growth in U.S. job market would give the federal government more reasons to raise interest rates. Higher rates tend to strengthen the dollar which will add downward pressure on commodities prices traded in the greenback.
At the MCX, Crude oil futures for September 2016 contract closed at Rs. 2908 per barrel, down by 3.16 per cent, after opening at Rs. 3004, against the previous closing price of Rs. 3003. It touched the intra-day low of Rs. 2904.
Gold rises on weak dollar
02/09/2016 08:45
GOLD: UPTREND
Gold futures closed higher in the domestic market on Thursday as the dollar fell on unexpectedly weak U.S. manufacturing data that raised doubts about the economy's strength.
Investors, however, are now focused on the release on Friday of the U.S. nonfarm payrolls report for August to see whether it will put the Federal Reserve on track to raise interest rates later this year.
Gold is highly sensitive to rising U.S. interest rates, which increase the opportunity cost of holding the non-yielding asset.
At the MCX, Gold futures for October 2016 contract closed at Rs 30,780, per 10 gram, up by 0.18 per cent after opening at Rs 30,750, against the previous closing price of Rs 30,724. It touched the intra-day high of Rs 30,869.
