Mcx Commodity Market News : Morning Session
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Weak US consumer data bites Copper
26/10/2016 11:53
Copper futures fell on Wednesday as investors and speculators exit positions in the industrial metal amid weak physical demand for copper in the domestic spot market.
Further, US consumer confidence fell in October, signalling a slowdown in the world’s biggest economy, clouding the demand outlook for metals. The gauge measuring US consumer confidence fell to a three-month low of 98.6 in October from a revised 103.5 in September.
At the MCX, copper futures for November 2016 contract is trading at Rs 315.95 per kg, down by 0.41 per cent, after opening at Rs 315.9, against a previous close of Rs 317.25. It touched the intra-day low of Rs 315.4 (at 11:51 AM).
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Flat trade in yellow metal
26/10/2016 11:52
Gold futures were trading flat during trade on Wednesday even as prices remained supported by prospects of higher demand from India ahead of the festive season with Diwali and Dhanteras round the corner.
Gold buying in India typically picks up during the festive season when the bullion is given as a gift.
Further, confidence among American consumers fell to the lowest level in three months in October 2016, bolstering the case for the US Federal Reserve to undertake a slow pace of monetary tightening.
At the MCX, gold futures for December 2016 contract were trading at Rs 29955 per 10 grams, up by 0.04 per cent, after opening at Rs 29,980, against a previous close of Rs 29,942. It touched the intra-day high of Rs 30,000 (at 11:44 AM).
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Oil plunges on Russia fears, US supplies
26/10/2016 11:38
Crude oil futures tanked over 1.5 per cent during morning trade in the domestic market on Wednesday as investors and speculators exit positions in the energy commodity on speculation that Russia won’t join the OPEC in planned output cuts, exacerbating concerns over a global supply glut. Meanwhile, US crude storage levels rose by a massive 4.8 million barrels last week, the industry-funded American Petroleum Institute (API) said. The EIA on Wednesday will release separate crude inventory data for the US. At the MCX, crude oil futures for November 2016 contract is trading at Rs 3302 per barrel, down by 1.55 per cent, after opening at Rs 3345, against a previous close of Rs 3354. It touched the intra-day low of Rs 3298. (At 11:24 AM).
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Muted demand drags down lead futures by 0.55%
26/10/2016 10:44
Lead futures were trading lower during the morning trade in the domestic market on Wednesday as investors and speculators remained on the sidelines in the industrial metal due to fall in physical demand for lead, from battery-makers, in the domestic spot market. Further, a drop in physical demand from battery-makers in the domestic spot market, influenced prices of lead at futures trade. At the MCX, lead futures for October 2016 contract is trading at Rs 136.40 per kg, down by 0.55 per cent, after opening at Rs 136.40, against a previous close of Rs 137.15. It touched the intra-day low of Rs 136.30 (at 10:39 hours).
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
Weak US consumer data bites Copper
26/10/2016 11:53
Copper futures fell on Wednesday as investors and speculators exit positions in the industrial metal amid weak physical demand for copper in the domestic spot market.
Further, US consumer confidence fell in October, signalling a slowdown in the world’s biggest economy, clouding the demand outlook for metals. The gauge measuring US consumer confidence fell to a three-month low of 98.6 in October from a revised 103.5 in September.
At the MCX, copper futures for November 2016 contract is trading at Rs 315.95 per kg, down by 0.41 per cent, after opening at Rs 315.9, against a previous close of Rs 317.25. It touched the intra-day low of Rs 315.4 (at 11:51 AM).
Click Here & Register To Get 2 days Trial Tips
Join Our Whatsapp No : 9841986753
Flat trade in yellow metal
26/10/2016 11:52
Gold futures were trading flat during trade on Wednesday even as prices remained supported by prospects of higher demand from India ahead of the festive season with Diwali and Dhanteras round the corner.
Gold buying in India typically picks up during the festive season when the bullion is given as a gift.
Further, confidence among American consumers fell to the lowest level in three months in October 2016, bolstering the case for the US Federal Reserve to undertake a slow pace of monetary tightening.
At the MCX, gold futures for December 2016 contract were trading at Rs 29955 per 10 grams, up by 0.04 per cent, after opening at Rs 29,980, against a previous close of Rs 29,942. It touched the intra-day high of Rs 30,000 (at 11:44 AM).
Click Here & Register To Get 2 days Trial Tips
Join Our Whatsapp No : 9841986753
Oil plunges on Russia fears, US supplies
26/10/2016 11:38
Crude oil futures tanked over 1.5 per cent during morning trade in the domestic market on Wednesday as investors and speculators exit positions in the energy commodity on speculation that Russia won’t join the OPEC in planned output cuts, exacerbating concerns over a global supply glut. Meanwhile, US crude storage levels rose by a massive 4.8 million barrels last week, the industry-funded American Petroleum Institute (API) said. The EIA on Wednesday will release separate crude inventory data for the US. At the MCX, crude oil futures for November 2016 contract is trading at Rs 3302 per barrel, down by 1.55 per cent, after opening at Rs 3345, against a previous close of Rs 3354. It touched the intra-day low of Rs 3298. (At 11:24 AM).
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Join Our Whatsapp No : 9841986753
Muted demand drags down lead futures by 0.55%
26/10/2016 10:44
Lead futures were trading lower during the morning trade in the domestic market on Wednesday as investors and speculators remained on the sidelines in the industrial metal due to fall in physical demand for lead, from battery-makers, in the domestic spot market. Further, a drop in physical demand from battery-makers in the domestic spot market, influenced prices of lead at futures trade. At the MCX, lead futures for October 2016 contract is trading at Rs 136.40 per kg, down by 0.55 per cent, after opening at Rs 136.40, against a previous close of Rs 137.15. It touched the intra-day low of Rs 136.30 (at 10:39 hours).
