MCX Copper, Naturalgas, Gold, Updates
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Spot demand, global cues lift copper futures by 0.79%
29/09/2016 17:11
Copper futures were trading higher during the evening trade in the domestic market on Thursday as participants widened their bets in the industrial metal amid a pickup in physical demand for copper, in the domestic spot market, and tracking firm overseas cues. Further, the rise in prices for copper was attributed to a firm trend at the domestic markets following pick up in demand from consuming industries and positive global cues.
At the MCX, copper futures for November 2016 contract is trading at Rs 327 per kg, up by 0.79 per cent, after opening at Rs 325, against a previous close of Rs 324.45. It touched the intra-day high of Rs 327.30 (at 17:05 hours).
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29/09/2016 17:02
Natural gas futures jumped by more than 1 per cent during the evening trade in the domestic market on Thursday as investors and speculators widened their positions in the energy commodity tracking a firm trend in the overseas market ahead of US storage data which may indicate the state of the demand for the fuel in the world’s biggest gas consuming nation.
In the week ended September 16, 2016, gas supplies in the US rose by 52 billion cubic feet.
The EIA may on Thursday show that US gas supplies rose by approximately 56 billion cubic feet in the week ended September 23, 2016. At the MCX, natural gas futures for October 2016 contract is trading at Rs 201.20 per mmbtu, up by 1.46 per cent, after opening at Rs 199.80, against a previous close of Rs 198.30. It touched the intra-day high of Rs 202.80 (at 16:57 hours).
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29/09/2016 16:11
Gold futures were trading higher during the evening trade in the domestic market on Thursday as investors and speculators widened their bets in the precious metal in the domestic spot markets as Fed Chair Janet Yellen said that there was no fixed timetable for US interest rate tightening, bolstering the lure for the bullion as a store of value.
Still, many of Yellen’s colleagues have signaled that an interest rate hike would be appropriate before the end of the year.
The Fed is looking for continuation of the job market recovery, and if no new risks arise, than a rate hike in December could be well on the cards. At the MCX, gold futures for October 2016 contract is trading at Rs 31,105 per 10 grams, up by 0.48 per cent, after opening at Rs 30,990, against a previous close of Rs 30,955. It touched the intra-day high of Rs 31,150 (at 16:08 hours).
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29/09/2016 15:34
Copper stocks +10100 MT to 379175, Aluminum Stocks -4875 MT to 2128750 MT, Nickel Stocks +564 MT to 362448 MT, Zinc Stocks -675 MT to 439975 MT, Lead Stocks -300 MT to 190700MT.
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Spot demand, global cues lift copper futures by 0.79%
29/09/2016 17:11
Copper futures were trading higher during the evening trade in the domestic market on Thursday as participants widened their bets in the industrial metal amid a pickup in physical demand for copper, in the domestic spot market, and tracking firm overseas cues. Further, the rise in prices for copper was attributed to a firm trend at the domestic markets following pick up in demand from consuming industries and positive global cues.
At the MCX, copper futures for November 2016 contract is trading at Rs 327 per kg, up by 0.79 per cent, after opening at Rs 325, against a previous close of Rs 324.45. It touched the intra-day high of Rs 327.30 (at 17:05 hours).
Click Here & Register To Get 2 days Trial Tips
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Natural gas surges ahead of weekly storage data29/09/2016 17:02
Natural gas futures jumped by more than 1 per cent during the evening trade in the domestic market on Thursday as investors and speculators widened their positions in the energy commodity tracking a firm trend in the overseas market ahead of US storage data which may indicate the state of the demand for the fuel in the world’s biggest gas consuming nation.
In the week ended September 16, 2016, gas supplies in the US rose by 52 billion cubic feet.
The EIA may on Thursday show that US gas supplies rose by approximately 56 billion cubic feet in the week ended September 23, 2016. At the MCX, natural gas futures for October 2016 contract is trading at Rs 201.20 per mmbtu, up by 1.46 per cent, after opening at Rs 199.80, against a previous close of Rs 198.30. It touched the intra-day high of Rs 202.80 (at 16:57 hours).
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Yellow metal shines post Yellen comments29/09/2016 16:11
Gold futures were trading higher during the evening trade in the domestic market on Thursday as investors and speculators widened their bets in the precious metal in the domestic spot markets as Fed Chair Janet Yellen said that there was no fixed timetable for US interest rate tightening, bolstering the lure for the bullion as a store of value.
Still, many of Yellen’s colleagues have signaled that an interest rate hike would be appropriate before the end of the year.
The Fed is looking for continuation of the job market recovery, and if no new risks arise, than a rate hike in December could be well on the cards. At the MCX, gold futures for October 2016 contract is trading at Rs 31,105 per 10 grams, up by 0.48 per cent, after opening at Rs 30,990, against a previous close of Rs 30,955. It touched the intra-day high of Rs 31,150 (at 16:08 hours).
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LME Inventories Data: Sep 29, 201629/09/2016 15:34
Copper stocks +10100 MT to 379175, Aluminum Stocks -4875 MT to 2128750 MT, Nickel Stocks +564 MT to 362448 MT, Zinc Stocks -675 MT to 439975 MT, Lead Stocks -300 MT to 190700MT.
