Mcx Commodity Market News : Morning Session - 30.9.2016
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Silver up on firm global cues
30/09/2016 08:53
Silver futures closed higher in the domestic market on Thursday as participants indulged in enlarging positions amid a firm trend in precious metals overseas. Analysts said widening of positions by speculators in step with a firm trend in global markets as a weak dollar raised the appeal for precious metals, influenced silver prices at the futures trade. An improving outlook for the US economy and Chinese manufacturing has also benefited silver, with industrial use accounting for more than half of the metal’s demand. At the MCX, silver futures for December 2016 contract closed at Rs 45,842 per kg, up by 0.57 per cent, after opening at Rs 45,805, against a previous close of Rs 45,583. It touched the intra-day high of Rs 46,035.
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Crude oil rises as OPEC plans to cut output
30/09/2016 08:53
Crude oil futures closed higher in the domestic market on Thursday as the OPEC plan to scale back production lifted prices for West Texas Intermediate crude to their highest level in more than a month. The Organization of the Petroleum Exporting Countries reached an understanding at a meeting Wednesday in Algeria that there was a need to scale back production. OPEC members agreed on a preliminary outline to cut its collective output to between 32.5 million barrels a day and 33 million barrels a day, down from the levels of 33.2 million barrels a day in August. At the MCX, crude oil futures for October 2016 contract closed at Rs 3198 per barrel, up by 4.48 per cent, after opening at Rs 3071, against a previous close of Rs 3061. It touched the intra-day high of Rs 3233.
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Gold rises on drop in US equity
30/09/2016 08:52
Gold futures closed higher in the domestic market on Thursday as a drop in U.S. equities boosted the investment appeal of the precious metal. Gold futures turned decisively higher in the last hour of Comex trading as losses for major U.S. equity indexes intensified on the back of worries about European banks. At the MCX, gold futures for October 2016 contract ended at Rs 31,185 per 10 grams, up by 0.74 per cent, after opening at Rs 30,990, against a previous close of Rs 30,955. It touched the intra-day high of Rs 31,194.
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Silver up on firm global cues
30/09/2016 08:53
Silver futures closed higher in the domestic market on Thursday as participants indulged in enlarging positions amid a firm trend in precious metals overseas. Analysts said widening of positions by speculators in step with a firm trend in global markets as a weak dollar raised the appeal for precious metals, influenced silver prices at the futures trade. An improving outlook for the US economy and Chinese manufacturing has also benefited silver, with industrial use accounting for more than half of the metal’s demand. At the MCX, silver futures for December 2016 contract closed at Rs 45,842 per kg, up by 0.57 per cent, after opening at Rs 45,805, against a previous close of Rs 45,583. It touched the intra-day high of Rs 46,035.
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30/09/2016 08:53
Crude oil futures closed higher in the domestic market on Thursday as the OPEC plan to scale back production lifted prices for West Texas Intermediate crude to their highest level in more than a month. The Organization of the Petroleum Exporting Countries reached an understanding at a meeting Wednesday in Algeria that there was a need to scale back production. OPEC members agreed on a preliminary outline to cut its collective output to between 32.5 million barrels a day and 33 million barrels a day, down from the levels of 33.2 million barrels a day in August. At the MCX, crude oil futures for October 2016 contract closed at Rs 3198 per barrel, up by 4.48 per cent, after opening at Rs 3071, against a previous close of Rs 3061. It touched the intra-day high of Rs 3233.
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30/09/2016 08:52
Gold futures closed higher in the domestic market on Thursday as a drop in U.S. equities boosted the investment appeal of the precious metal. Gold futures turned decisively higher in the last hour of Comex trading as losses for major U.S. equity indexes intensified on the back of worries about European banks. At the MCX, gold futures for October 2016 contract ended at Rs 31,185 per 10 grams, up by 0.74 per cent, after opening at Rs 30,990, against a previous close of Rs 30,955. It touched the intra-day high of Rs 31,194.
