MCX LEAD, GOLD, Methaoil, Cardamomc Updates : 27.09.2016
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Uptick in demand lifts lead futures by 0.58%
27/09/2016 12:12
LEAD: UP TREND
Lead futures were trading higher during the noon trade in the domestic market on Tuesday as participants widened their positions in the industrial metal due to an upsurge in physical demand for lead, from battery-makers, in the domestic spot market.
Further, an increase in demand from battery-makers in the domestic spot market, supported prices of lead at the domestic spot markets. At the MCX, lead futures for September 2016 contract is trading at Rs 129.75 per kg, up by 0.58 per cent, after opening at Rs 129, against a previous close of Rs 129. It touched the intra-day high of Rs 129.90 (at 12:12 hours).
Yellow metal in reverse gear on weak overseas cues
27/09/2016 12:23
GOLD: DOWN TREND
Gold futures were trading lower during the noon trade in the domestic market on Tuesday as investors and speculators remained on the sidelines in the precious metal in the domestic spot markets tracking weak global trend.
Further, the down fall in gold futures was in-line with a weak trend in global markets as the dollar erased losses, dimming the appeal for metals as an alternative investment.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,160 per 10 grams, down by 0.54 per cent, after opening at Rs 31,271, against a previous close of Rs 31,328. It touched the intra-day low of Rs 31,131 (at 12:16 hours).
Gold logs losses ahead of US economic data
27/09/2016 13:02
GOLD: DOWN TREND
Gold futures were trading in the red during noon trade in the domestic market on Tuesday as investors and speculators turned cautious ahead of a flurry of US economic data this week including consumer confidence, durable goods orders, Q2 GDP, pending home sales, jobless claims, home prices, consumer spending, composite PMI, and Fed Chair Janet Yellen’s speech, which may offer hints over the outlook for a US interest rate hike in the near-term.
Traders also weighed a fiery debate between US presidential hopefuls Hillary Clinton and Donald Trump with Clinton putting up a strong show by repeatedly putting the latter on the defensive. A Trump win could be bad news for financial markets, trading experts opine.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,164 per 10 grams, down by 0.52 per cent, after opening at Rs 31,271, against a previous close of Rs 31,328. It touched the intra-day low of Rs 31,150(at 12:48 hours).
Mentha Oil tanks nearly 2% on weak demand
27/09/2016 13:04
MENTHAOIL: DOWN TREND
Mentha oil futures tumbled during noon trade in the domestic market on Tuesday as investors and speculators exit positions in the agri-commodity amid weak physical demand for mentha oil from major consuming industries in the domestic spot market.
Further, abundant supplies amid higher physical arrivals from the major mentha oil producing regions in the country also exerted downward pressure on domestic mentha oil prices.
At the MCX, mentha oil futures for September 2016 contract were trading at Rs 855 per kg, down by 1.83 per cent after opening at Rs 869, against the previous closing price of Rs 870.90. It touched the intra-day low of Rs 854.1 (at 13:03 PM).
Cardamom tad lower in noon trade
27/09/2016 13:04
CARDAMOM: DOWN TREND
Cardamom futures were trading on a flat note, with a negative bias, in the domestic market on Tuesday as investors and speculators turned cautious over booking fresh positions in the agri-commodity amid soft physical demand for cardamom from major consuming industries in the domestic spot market.
However, restricted supplies amid lower physical arrivals from the major cardamom producing regions in the country trimmed the losses in domestic cardamom prices.
At the MCX, cardamom futures for October 2016 contract is trading at Rs 1,147.2 per kg, down by 0.02 per cent, after opening at Rs 1,152.40, against a previous close of Rs 1,147.40. It touched the intra-day low of Rs 1,133.6 (at 12:59 PM).
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Uptick in demand lifts lead futures by 0.58%
27/09/2016 12:12
LEAD: UP TREND
Lead futures were trading higher during the noon trade in the domestic market on Tuesday as participants widened their positions in the industrial metal due to an upsurge in physical demand for lead, from battery-makers, in the domestic spot market.
Further, an increase in demand from battery-makers in the domestic spot market, supported prices of lead at the domestic spot markets. At the MCX, lead futures for September 2016 contract is trading at Rs 129.75 per kg, up by 0.58 per cent, after opening at Rs 129, against a previous close of Rs 129. It touched the intra-day high of Rs 129.90 (at 12:12 hours).
Yellow metal in reverse gear on weak overseas cues
27/09/2016 12:23
GOLD: DOWN TREND
Gold futures were trading lower during the noon trade in the domestic market on Tuesday as investors and speculators remained on the sidelines in the precious metal in the domestic spot markets tracking weak global trend.
Further, the down fall in gold futures was in-line with a weak trend in global markets as the dollar erased losses, dimming the appeal for metals as an alternative investment.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,160 per 10 grams, down by 0.54 per cent, after opening at Rs 31,271, against a previous close of Rs 31,328. It touched the intra-day low of Rs 31,131 (at 12:16 hours).
Gold logs losses ahead of US economic data
27/09/2016 13:02
GOLD: DOWN TREND
Gold futures were trading in the red during noon trade in the domestic market on Tuesday as investors and speculators turned cautious ahead of a flurry of US economic data this week including consumer confidence, durable goods orders, Q2 GDP, pending home sales, jobless claims, home prices, consumer spending, composite PMI, and Fed Chair Janet Yellen’s speech, which may offer hints over the outlook for a US interest rate hike in the near-term.
Traders also weighed a fiery debate between US presidential hopefuls Hillary Clinton and Donald Trump with Clinton putting up a strong show by repeatedly putting the latter on the defensive. A Trump win could be bad news for financial markets, trading experts opine.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,164 per 10 grams, down by 0.52 per cent, after opening at Rs 31,271, against a previous close of Rs 31,328. It touched the intra-day low of Rs 31,150(at 12:48 hours).
Mentha Oil tanks nearly 2% on weak demand
27/09/2016 13:04
MENTHAOIL: DOWN TREND
Mentha oil futures tumbled during noon trade in the domestic market on Tuesday as investors and speculators exit positions in the agri-commodity amid weak physical demand for mentha oil from major consuming industries in the domestic spot market.
Further, abundant supplies amid higher physical arrivals from the major mentha oil producing regions in the country also exerted downward pressure on domestic mentha oil prices.
At the MCX, mentha oil futures for September 2016 contract were trading at Rs 855 per kg, down by 1.83 per cent after opening at Rs 869, against the previous closing price of Rs 870.90. It touched the intra-day low of Rs 854.1 (at 13:03 PM).
Cardamom tad lower in noon trade
27/09/2016 13:04
CARDAMOM: DOWN TREND
Cardamom futures were trading on a flat note, with a negative bias, in the domestic market on Tuesday as investors and speculators turned cautious over booking fresh positions in the agri-commodity amid soft physical demand for cardamom from major consuming industries in the domestic spot market.
However, restricted supplies amid lower physical arrivals from the major cardamom producing regions in the country trimmed the losses in domestic cardamom prices.
At the MCX, cardamom futures for October 2016 contract is trading at Rs 1,147.2 per kg, down by 0.02 per cent, after opening at Rs 1,152.40, against a previous close of Rs 1,147.40. It touched the intra-day low of Rs 1,133.6 (at 12:59 PM).
