Mcx Commodity Market News : Evening Session - 18.10.2016
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Yellow metal shines on weak dollar, firmer equities
18/10/2016 12:28
Gold futures were trading higher during the noon trade in the domestic market on Tuesday as investors and speculators widened their positions in the precious metal as the US dollar weakened, while rebounding equities capped gains.
Analysts attributed the recovery in gold prices to weakness in US dollar which measures the greenback against a basket of currencies, and strong Asian equities though risk appetite was low as weak US markets prompted investors to stay on the sidelines.
At the MCX, gold futures for December 2016 contract is trading at Rs 29782 per 10 grams, up by 0.26 per cent, after opening at Rs 29750, against a previous close of Rs 29705. It touched the intra-day high of Rs 29792 (at 12:20 hours).
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Crude oil futures zoom 0.96%
18/10/2016 12:16
Crude oil futures were trading higher during the noon trade in the domestic market on Tuesday as investors and speculators widened their positions in the energy commodity as some analysts said that markets might not be quite as oversupplied as suggested by many, with global inventories rising less than expected ahead of the high-demand winter heating season in the northern hemisphere.
Also, a drop in US dollar away from 7-month highs the previous day also supported crude, as a lower greenback makes fuel purchases cheaper for countries using other currencies.
At the MCX, crude oil futures for October 2016 contract is trading at Rs 3355 per barrel, up by 0.96 per cent, after opening at Rs 3348, against a previous close of Rs 3323. It touched the intra-day high of Rs 3358 (at 11:59 hours).
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Join Our Whatsapp No : 9841986753
Keep Refresh for Fresh Tips
Yellow metal shines on weak dollar, firmer equities
18/10/2016 12:28
Gold futures were trading higher during the noon trade in the domestic market on Tuesday as investors and speculators widened their positions in the precious metal as the US dollar weakened, while rebounding equities capped gains.
Analysts attributed the recovery in gold prices to weakness in US dollar which measures the greenback against a basket of currencies, and strong Asian equities though risk appetite was low as weak US markets prompted investors to stay on the sidelines.
At the MCX, gold futures for December 2016 contract is trading at Rs 29782 per 10 grams, up by 0.26 per cent, after opening at Rs 29750, against a previous close of Rs 29705. It touched the intra-day high of Rs 29792 (at 12:20 hours).
Click Here & Register To Get 2 days Trial Tips
Join Our Whatsapp No : 9841986753
Crude oil futures zoom 0.96%
18/10/2016 12:16
Crude oil futures were trading higher during the noon trade in the domestic market on Tuesday as investors and speculators widened their positions in the energy commodity as some analysts said that markets might not be quite as oversupplied as suggested by many, with global inventories rising less than expected ahead of the high-demand winter heating season in the northern hemisphere.
Also, a drop in US dollar away from 7-month highs the previous day also supported crude, as a lower greenback makes fuel purchases cheaper for countries using other currencies.
At the MCX, crude oil futures for October 2016 contract is trading at Rs 3355 per barrel, up by 0.96 per cent, after opening at Rs 3348, against a previous close of Rs 3323. It touched the intra-day high of Rs 3358 (at 11:59 hours).
