Mcx Commodity Market News : Evening Session
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Improving US economic outlook buoys Copper
21/10/2016 12:46
Copper futures logged modest gains during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal as signs of a pickup in the US economy bolstered demand outlook for copper.
Sales of existing homes in the US rose 3.2 per cent in September from the previous month while a leading index for the world’s biggest economy climbed 0.2 per cent last month.
At the MCX, copper futures for November 2016 contract is trading at Rs 311.85 per kg, up by 0.14 per cent, after opening at Rs 312.05, against a previous close of Rs 311.4. It touched the intra-day high of Rs 312.15 (at 12:31 PM).
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Stronger dollar bites yellow metal
21/10/2016 12:37
Gold futures fell during noon trade in the domestic market on Friday as investors and speculators exit positions in the precious metal tracking weakness overseas as a stronger dollar curbed the lure for the bullion as an alternative asset.
Stronger greenback makes gold more expensive for those holding other currencies, thus dimming demand.
The dollar climbed against a basket of key currencies after robust US economic data bolstered the case for interest rate tightening this year, also dampening the appeal of gold as a store of value. US economic data was mostly positive as existing home sales rose 3.2 per cent in September and a leading index climbed 0.2 per cent last month.
Also, the European Central Bank’s indication that its ongoing QE plan may extend beyond the scheduled end date of March 2017, put pressure on the euro against the US dollar.
At the MCX, gold futures for December 2016 contract were trading at Rs 29859 per 10 grams, down by 0.17 per cent, after opening at Rs 29,850, against a previous close of Rs 29,910. It touched the intra-day low of Rs 29,810. (at 12:31 PM).
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Silver dips on weak global cues
21/10/2016 12:28
Silver futures were trading lower in the domestic market on Friday as participants engaged in trimming their positions taking weak cues from global market. Marketmen attributed the fall in silver prices at futures trade to a weak trend in the precious metals overseas and profit-booking by participants at existing levels.
At the MCX, silver futures for December 2016 contract were trading at Rs 41,902 per kg, down by 0.22 per cent, after opening at Rs 41,839, against a previous close of Rs 41,996. It touched the intra-day low of Rs 41,816.(at 12:33 hrs)
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Natural gas lower as US supplies rise
21/10/2016 12:27
Natural gas futures fell during noon trade in the domestic market on Friday as investors and speculators exit positions in the energy commodity as a bigger-than-expected US storage build last week signaled weakening demand for the fuel in the world’s biggest gas consuming nation.
The EIA reported that US gas supplies climbed by 77 billion cubic feet (bcf) for the week ending October 14, above expectations for an increase of around 72 billion cubic feet.
Total US storage levels are 46 bcf above the year-ago figure and 5.1 per cent and 5.4 per cent above the five-year average and last week, respectively.
At the MCX, natural gas futures for October 2016 contract is trading at Rs 208 per mmbtu, down by 0.95 per cent, after opening at Rs 208.7, against a previous close of Rs 210. It touched the intra-day low of Rs 207.5 (At 12:23 PM).
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
Improving US economic outlook buoys Copper
21/10/2016 12:46
Copper futures logged modest gains during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal as signs of a pickup in the US economy bolstered demand outlook for copper.
Sales of existing homes in the US rose 3.2 per cent in September from the previous month while a leading index for the world’s biggest economy climbed 0.2 per cent last month.
At the MCX, copper futures for November 2016 contract is trading at Rs 311.85 per kg, up by 0.14 per cent, after opening at Rs 312.05, against a previous close of Rs 311.4. It touched the intra-day high of Rs 312.15 (at 12:31 PM).
Click Here & Register To Get 2 days Trial Tips
Join Our Whatsapp No : 9841986753
Stronger dollar bites yellow metal
21/10/2016 12:37
Gold futures fell during noon trade in the domestic market on Friday as investors and speculators exit positions in the precious metal tracking weakness overseas as a stronger dollar curbed the lure for the bullion as an alternative asset.
Stronger greenback makes gold more expensive for those holding other currencies, thus dimming demand.
The dollar climbed against a basket of key currencies after robust US economic data bolstered the case for interest rate tightening this year, also dampening the appeal of gold as a store of value. US economic data was mostly positive as existing home sales rose 3.2 per cent in September and a leading index climbed 0.2 per cent last month.
Also, the European Central Bank’s indication that its ongoing QE plan may extend beyond the scheduled end date of March 2017, put pressure on the euro against the US dollar.
At the MCX, gold futures for December 2016 contract were trading at Rs 29859 per 10 grams, down by 0.17 per cent, after opening at Rs 29,850, against a previous close of Rs 29,910. It touched the intra-day low of Rs 29,810. (at 12:31 PM).
Click Here & Register To Get 2 days Trial Tips
Join Our Whatsapp No : 9841986753
Silver dips on weak global cues
21/10/2016 12:28
Silver futures were trading lower in the domestic market on Friday as participants engaged in trimming their positions taking weak cues from global market. Marketmen attributed the fall in silver prices at futures trade to a weak trend in the precious metals overseas and profit-booking by participants at existing levels.
At the MCX, silver futures for December 2016 contract were trading at Rs 41,902 per kg, down by 0.22 per cent, after opening at Rs 41,839, against a previous close of Rs 41,996. It touched the intra-day low of Rs 41,816.(at 12:33 hrs)
Click Here & Register To Get 2 days Trial Tips
Join Our Whatsapp No : 9841986753
Natural gas lower as US supplies rise
21/10/2016 12:27
Natural gas futures fell during noon trade in the domestic market on Friday as investors and speculators exit positions in the energy commodity as a bigger-than-expected US storage build last week signaled weakening demand for the fuel in the world’s biggest gas consuming nation.
The EIA reported that US gas supplies climbed by 77 billion cubic feet (bcf) for the week ending October 14, above expectations for an increase of around 72 billion cubic feet.
Total US storage levels are 46 bcf above the year-ago figure and 5.1 per cent and 5.4 per cent above the five-year average and last week, respectively.
At the MCX, natural gas futures for October 2016 contract is trading at Rs 208 per mmbtu, down by 0.95 per cent, after opening at Rs 208.7, against a previous close of Rs 210. It touched the intra-day low of Rs 207.5 (At 12:23 PM).
