Gold prices edged lower in European trade on Wednesday, reversing overnight gains as market players looked ahead to minutes of the Federal Reserve’s July policy meeting, which many feared
could be more hawkish than the statement. Gold for December delivery on the Comex division of the New York Mercantile Exchange shed $ 9.95, or 0.73%, to trade at $1,346.95 a troy ounce by 3:05 AM.
Spot silver prices in the international markets declined by 0.57 percent and closed at
$15.67/oz.Last week, spot silver prices in the international markets traded lower in line with
weakness in gold prices ,Strengthening dollar also acted as a negative factor for oil prices
Gold rose to a two-week high on Friday as the Federal Reserve's decision to leave US interest rates unchanged weighed on the dollar and added to uncertainty over the timing of the first rate hike in a decade. Spot gold was up 0.5 per cent at $1,136.06 an ounce, having earlier touched
$1,138.80, keeping it on track to snap a three-week losing streak.
Gold scaled higher on Friday, further off a four-month low, as the dollar tumbled against the euro on signs of progress in Greece's efforts to secure fresh funding. Spot gold was up 0.2 percent at $1,161.88 an ounce by 1029 GMT.
Ways2Capital is one of the leading research house across the globe. The company basically provides recommendations for stocks cash & F&O traded in NSE & BSE,commodities including bullions, metals and agro commodities traded in MCX & NCDEX.
Gold prices on Friday fell by Rs 320 to trade at Rs 25,050 per 10 gm and silver cracked the Rs. 34,000-level to trade at about five-year low at the bullion market here due to a weak trend in global market and slackened demand from jewelers and retailers.
Gold prices edged lower on Friday as stocks firmed and the US dollar rose on expectations the Federal Reserve would raise interest rates by the end of the year. Spot gold was down 0.1 per
cent at $1,256.50 an ounce by 0257 GMT. The metal was on track to end the week mostly flat.
Iraq's government would consider selling crude through Iran should talks with the autonomous Kurdish region on an oil revenue-sharing agreement fail, a senior oil ministry official in Baghdad told Reuters.
Gold prices edged lower in European trade on Wednesday, reversing overnight gains as market players looked ahead to minutes of the Federal Reserve’s July policy meeting, which many feared
could be more hawkish than the statement. Gold for December delivery on the Comex division of the New York Mercantile Exchange shed $ 9.95, or 0.73%, to trade at $1,346.95 a troy ounce by 3:05 AM.
Spot silver prices in the international markets declined by 0.57 percent and closed at
$15.67/oz.Last week, spot silver prices in the international markets traded lower in line with
weakness in gold prices ,Strengthening dollar also acted as a negative factor for oil prices
Gold rose to a two-week high on Friday as the Federal Reserve's decision to leave US interest rates unchanged weighed on the dollar and added to uncertainty over the timing of the first rate hike in a decade. Spot gold was up 0.5 per cent at $1,136.06 an ounce, having earlier touched
$1,138.80, keeping it on track to snap a three-week losing streak.
Gold scaled higher on Friday, further off a four-month low, as the dollar tumbled against the euro on signs of progress in Greece's efforts to secure fresh funding. Spot gold was up 0.2 percent at $1,161.88 an ounce by 1029 GMT.
Ways2Capital is one of the leading research house across the globe. The company basically provides recommendations for stocks cash & F&O traded in NSE & BSE,commodities including bullions, metals and agro commodities traded in MCX & NCDEX.
Gold prices on Friday fell by Rs 320 to trade at Rs 25,050 per 10 gm and silver cracked the Rs. 34,000-level to trade at about five-year low at the bullion market here due to a weak trend in global market and slackened demand from jewelers and retailers.
Gold prices edged lower on Friday as stocks firmed and the US dollar rose on expectations the Federal Reserve would raise interest rates by the end of the year. Spot gold was down 0.1 per
cent at $1,256.50 an ounce by 0257 GMT. The metal was on track to end the week mostly flat.
Iraq's government would consider selling crude through Iran should talks with the autonomous Kurdish region on an oil revenue-sharing agreement fail, a senior oil ministry official in Baghdad told Reuters.
The government is gearing up to launch the gold monetization scheme around Diwali with an interest rate of 1.5-2% on gold deposits.As regards the sovereign gold bond scheme, the government aims to raise Rs 15,000 crore and the timing of the launch will be decided consultations with the Reserve Bank.
Commodity Research Report 26 October 2015 Ways2Capitalways2capitalindore
China's central bank cut interest rates on Friday for the sixth time in less than a year, and it again lowered the amount of cash that banks must hold as reserves in a bid to jump start growth
in its stuttering economy
Commodity Research Report 07 December 2015 Ways2Capitalways2capitalindore
Goldman Sachs said on Friday that oil prices will likely remain "lower for even longer," as OPEC members failed to agree on a new production ceiling at the cartel's meeting in Vienna.
Continuing its slide for a fourth consecutive day, gold prices on Thursday dipped below Rs 25,000, having lost Rs 40 to trade, reaching its lowest in over four-year at Rs 24,980 per 10 grams (g) at the domestic bullion market.
Consumer demand in India for gold had dropped by 25 per cent during the calendar year’ssecond quarter (April-June) to 154.5 tonnes, from 204.9 tonnes a year before.In dollar terms,says the World Gold Council (WGC),
Commodity Research Report 14 December 2015 Ways2Capitalways2capitalindore
Gold drifted lower on Friday and was headed for the seventh weekly drop in eight weeks as investors positioned for a looming US rate hike. A strong US nonfarm payrolls report last week
cemented expectations of a rate hike at the Federal Reserve's policy meeting on December 15- 16.
Gold prices fell by Rs 50 to Rs 25,958 per 10 grams in futures trade on Wednesday amid a weak global trend.At Multi Commodity Exchange, gold for October contacts fell by Rs 50, or 0.19%, to Rs25,958 per 10 grams in a business turnover of 354 lots.
Gold continues to show the negative trend. Gold August contract is bearish for both short termand intra day at India's MCX. Gold has fallen back again after a brief recovery earlier this week which ended its worst losing streak in 20 years, after the Federal Reserve hinted at a rate rise in.the near future pushed the dollar towards fresh multi-year highs.
Commodity Research Report 30 November 2015 Ways2Capitalways2capitalindore
Gold futures were down by Rs 37 to Rs 25,244 per 10 gram today as participants trimmed their positions. In futures trading, gold for delivery in December traded Rs 37, or 0.15% lower at Rs
25,244 per 10 gram in a business turnover of 350 lots at the Multi Commodity Exchange
Gold prices fell Rs 49 to Rs 26,698 per 10 grams in futures trade today as participants trimmed their positions, largely in tune with a weak trend overseas.
Gold prices ended lower on Friday, reversing earlier gains, as disappointing U.S. employment data was seen as unlikely to alter the Federal Reserve’s plan for raising interest rates before the end of the year.
Gold for December delivery on the Comex division of the New York Mercantile Exchange dipped $ 1.10, or 0.09%, to settle at $1,251.90 a troy ounce by close of trade.
Ways2Capital is one of the leading research house across the globe. The company basically provides recommendations for stocks cash & F&O traded in NSE & BSE,commodities including bullions, metals and agro commodities traded in MCX & NCDEX.
Commodity Research Report 28 December 2015 Ways2Capitalways2capitalindore
Silver prices slipped from highs as U.S. home re-sales posted their sharpest drop in five years in November. The prices stayed higher earlier as the dollar slipped against a basket of currencies on Tuesday as more traders booked profits on bullish greenback bets following the Federal Reserve's interest rate increase last week.
Ways2Capital is one of the leading research house across the globe. The company basically provides recommendations for stocks cash & F&O traded in NSE & BSE,commodities including bullions, metals and agro commodities traded in MCX & NCDEX.
Friday saw another rise in the price of gold, a 16 per cent rise since the year began. However, with rising prices, the market has also slipped into a historically high discount for physical
delivery. In the past two days, a discount of $30 an ounce or higher (Rs 680-700 per 10g) was quoted. In Ahmadabad on Friday, it was $32.5 an oz, by NCDEX poll data.
Ways2Capital is one of the leading research house across the globe. The company basically provides recommendations for stocks cash & F&O traded in NSE & BSE,commodities including bullions, metals and agro commodities traded in MCX & NCDEX.
Ways2Capital is one of the leading research house across the globe. The company basically provides recommendations for stocks cash & F&O traded in NSE & BSE,commodities including bullions, metals and agro commodities traded in MCX & NCDEX.
Oil prices extended gains on Tuesday, buoyed after top producers Russia and Saudi Arabia agreed to cooperate on stabilizing the oil market, but a lack of immediate action to rein in output capped gains. London Brent crude for
Snapping three-day rising streak, gold prices retreated by Rs 60 to Rs 27,000 at the bullion market on wednesday on weak global cues and easing demand from jewellers at prevailing levels.Silver too turned weak and fell by Rs 150 to Rs 35,000 per kg on reduced off take byindustrial units and coin makers.
The finance ministry is considering introducing measures to stop malpractices of importing pure gold under that garb of dore bars or unrefined gold. It may ask jewellers and refiners to follow know your
supplier, clients norms prescribed by the Organisation for Economic Co-operation and Development
The government is gearing up to launch the gold monetization scheme around Diwali with an interest rate of 1.5-2% on gold deposits.As regards the sovereign gold bond scheme, the government aims to raise Rs 15,000 crore and the timing of the launch will be decided consultations with the Reserve Bank.
Commodity Research Report 26 October 2015 Ways2Capitalways2capitalindore
China's central bank cut interest rates on Friday for the sixth time in less than a year, and it again lowered the amount of cash that banks must hold as reserves in a bid to jump start growth
in its stuttering economy
Commodity Research Report 07 December 2015 Ways2Capitalways2capitalindore
Goldman Sachs said on Friday that oil prices will likely remain "lower for even longer," as OPEC members failed to agree on a new production ceiling at the cartel's meeting in Vienna.
Continuing its slide for a fourth consecutive day, gold prices on Thursday dipped below Rs 25,000, having lost Rs 40 to trade, reaching its lowest in over four-year at Rs 24,980 per 10 grams (g) at the domestic bullion market.
Consumer demand in India for gold had dropped by 25 per cent during the calendar year’ssecond quarter (April-June) to 154.5 tonnes, from 204.9 tonnes a year before.In dollar terms,says the World Gold Council (WGC),
Commodity Research Report 14 December 2015 Ways2Capitalways2capitalindore
Gold drifted lower on Friday and was headed for the seventh weekly drop in eight weeks as investors positioned for a looming US rate hike. A strong US nonfarm payrolls report last week
cemented expectations of a rate hike at the Federal Reserve's policy meeting on December 15- 16.
Gold prices fell by Rs 50 to Rs 25,958 per 10 grams in futures trade on Wednesday amid a weak global trend.At Multi Commodity Exchange, gold for October contacts fell by Rs 50, or 0.19%, to Rs25,958 per 10 grams in a business turnover of 354 lots.
Gold continues to show the negative trend. Gold August contract is bearish for both short termand intra day at India's MCX. Gold has fallen back again after a brief recovery earlier this week which ended its worst losing streak in 20 years, after the Federal Reserve hinted at a rate rise in.the near future pushed the dollar towards fresh multi-year highs.
Commodity Research Report 30 November 2015 Ways2Capitalways2capitalindore
Gold futures were down by Rs 37 to Rs 25,244 per 10 gram today as participants trimmed their positions. In futures trading, gold for delivery in December traded Rs 37, or 0.15% lower at Rs
25,244 per 10 gram in a business turnover of 350 lots at the Multi Commodity Exchange
Gold prices fell Rs 49 to Rs 26,698 per 10 grams in futures trade today as participants trimmed their positions, largely in tune with a weak trend overseas.
Gold prices ended lower on Friday, reversing earlier gains, as disappointing U.S. employment data was seen as unlikely to alter the Federal Reserve’s plan for raising interest rates before the end of the year.
Gold for December delivery on the Comex division of the New York Mercantile Exchange dipped $ 1.10, or 0.09%, to settle at $1,251.90 a troy ounce by close of trade.
Ways2Capital is one of the leading research house across the globe. The company basically provides recommendations for stocks cash & F&O traded in NSE & BSE,commodities including bullions, metals and agro commodities traded in MCX & NCDEX.
Commodity Research Report 28 December 2015 Ways2Capitalways2capitalindore
Silver prices slipped from highs as U.S. home re-sales posted their sharpest drop in five years in November. The prices stayed higher earlier as the dollar slipped against a basket of currencies on Tuesday as more traders booked profits on bullish greenback bets following the Federal Reserve's interest rate increase last week.
Ways2Capital is one of the leading research house across the globe. The company basically provides recommendations for stocks cash & F&O traded in NSE & BSE,commodities including bullions, metals and agro commodities traded in MCX & NCDEX.
Friday saw another rise in the price of gold, a 16 per cent rise since the year began. However, with rising prices, the market has also slipped into a historically high discount for physical
delivery. In the past two days, a discount of $30 an ounce or higher (Rs 680-700 per 10g) was quoted. In Ahmadabad on Friday, it was $32.5 an oz, by NCDEX poll data.
Ways2Capital is one of the leading research house across the globe. The company basically provides recommendations for stocks cash & F&O traded in NSE & BSE,commodities including bullions, metals and agro commodities traded in MCX & NCDEX.
Ways2Capital is one of the leading research house across the globe. The company basically provides recommendations for stocks cash & F&O traded in NSE & BSE,commodities including bullions, metals and agro commodities traded in MCX & NCDEX.
Oil prices extended gains on Tuesday, buoyed after top producers Russia and Saudi Arabia agreed to cooperate on stabilizing the oil market, but a lack of immediate action to rein in output capped gains. London Brent crude for
Snapping three-day rising streak, gold prices retreated by Rs 60 to Rs 27,000 at the bullion market on wednesday on weak global cues and easing demand from jewellers at prevailing levels.Silver too turned weak and fell by Rs 150 to Rs 35,000 per kg on reduced off take byindustrial units and coin makers.
The finance ministry is considering introducing measures to stop malpractices of importing pure gold under that garb of dore bars or unrefined gold. It may ask jewellers and refiners to follow know your
supplier, clients norms prescribed by the Organisation for Economic Co-operation and Development
La presentazione per workshop su social media marketing a #glocal14 - http://www.festivalglocal.it/incontro/social-media-reporter-e-nuove-figure-professionali/
The Elysia Park Residence will be making its presence felt in Medini soon. Sprawled across 7.82 acres of land in Medini, Nusajaya, the development is expected to garner much attention and interest.
Residents who value the presence of greenery will certainly appreciate the 4.8-acre park that is right next to the development. It has also been designed to offer a garden that is no ordinary one but is in fact a Sky Garden that redefines the concept of “taking a walk in the garden”.
There are eight unit layouts to choose from with built-up sizes that range from 515 sq ft to 1,251 sq ft which are ideal for first-time homeowners, young couples and small families. All in all, there are a total of 961 units available and the leasehold tenure for the development is 129 years long.
The Elysia Park Residence will be launched in the second half of 2015.
There are many kinds of suffering in life, and we see this as we go from text to text in the Gospel of Matthew. It is helpful to know these different aspects of suffering.
Learn To Adjust To Different Models Of The WorldGeorge Hutton
http://mindpersuasion.com/ir/
If you are stuck using your own model of the world, you'll have to rely on luck to find an overlap with others. But when you can adjust to their model of the world, you'll have a lot better time. Learn How: http://mindpersuasion.com/ir/
Oil futures edged up on Tuesday as the U.S. dollar backed off a two-week high hit the day before, although doubts that crude producers would agree next month to an output freeze continued to drag on prices.
Plunging iron ore prices are providing a lifeline for some of China's biggest steel mills, but
raising the prospect of a rising tide of exports and increased friction with the European Union
and countries such as India.
Gold rebounded to a fresh three-week high on Friday, as investor risk aversion lifted appetite for the metal,
putting it on track for a second straight weekly rise. Often perceived as an insurance against economic and
financial concerns,
Gold prices rallied to new 15 months high on Friday as the dollar continued to slip against the basket of
currencies after the Bank of Japan decided to skit any fresh stimulus in its economy in the latest monetary
policy.
Crude oil prices rose slightly on Friday, ending the week higher, after data from top energy consumers the United States and China boosted the oil demand outlook.
As China's economy slows and Beijing becomes more relaxed about letting its companies fail, a rising number of foreign bondholders risk being caught up in the country's unpredictable court system.
Commodity Research Report 21 December 2015 Ways2Capitalways2capitalindore
Gold slipped on Thursday, giving back some of its overnight gains, in choppy trading after the Federal Reserve raised US interest rates for the first time in nearly a decade. The US central bank's policy-setting
Gold rose on Tuesday due to rising physical demand from India but growing expectations of a U.S. interest rate hike kept a lid on prices. The metal is highly sensitive to rising U.S. rates, which lift the opportunity cost of holding non-yielding assets while boosting the dollar. Spot gold XAU= was up
Gold prices are trading on positive nota after the data released on Friday showed that U.S.economic growth braked sharply in the last quarter of 2015, expanding at an annual 0.7 percent
rate, as tepid global demand weighed on exports.
Bullion counter may trade on positive path as weaker greenback and safe haven demand can give support to the prices. Meanwhile movement of local currency rupee will give further direction to the prices. Gold
can move in range of 29300-29700 while silver can move in range of 39000-40000 in near term. Gold
prices rose early on Monday, pulling further away from a two-month low, as fresh concerns over North
Korea's nuclear ambitions stoked safehaven demand for the precious metal and weighed on the dollar.
Gold's image as a haven asset has taken a battering with the metal heading for its third-straight annual loss amid the sale of gold-backed funds by investors. Bullion for immediate delivery
rose 0.2 per cent to $1,063.22 an ounce at 3:32 pm. in Singapore after declining 0.7 per cent on Wednesday,
Commodity Research Report 02 November 2015 Ways2Capitalways2capitalindore
Gold prices today fell Rs 76 to Rs 26,777 per 10 gram in futures trade amid a weak global trend. At Multi Commodity Exchange, gold delivery in far-month February next year fell Rs 76, or 0.28%, to Rs 26,777 per 10 gram, in a business turnover of four lots.
Commodity Research Report 19 October 2015 Ways2Capitalways2capitalindore
Gold prices fell 0.43 per cent to Rs 27,360 per 10 grams in futures trade, amid a weak trend
overseas and profit-booking by speculators At the Multi Commodity Exchange, gold for
he India Meteorological Department (IMD) said on Sunday that the onset of southwest monsoon over the Kerala coast this
year could be delayed by six days and that the rains would arrive around June 7
U.S. payrolls surged in December and the job count for the prior two months was revised sharply higher, showing the economy on solid ground despite a troubling international
backdrop. Nonfarm payrolls increased by 292,000 last month, the Labor Department said on Friday, as hiring got a boost from unseasonably warm weather.
Most emerging Asian currencies rose on Friday to see weekly gains on growing expectations the US Federal Reserve will delay interest rate hikes after soft economic data.Malaysia's ringgit hovered near a two-week high as the economy grew at a faster-than-expected pace in the first quarter and its current account surplus almost doubled. The US dollar stayed around a four-month low against a basket of major currencies as softer-than-expected US producer prices deepened concerns over slowing growth in the world's top economy.
Gold pared early gains on Thursday as the U.S. dollar recovered and global stocks rallied after oil producers agreed to curb output. The Organization of Petroleum
Exporting Countries on Wednesday agreed modest oil output cuts in the first such deal
Gold in the European market settled on Monday near the highest in a week sup-ported by the decline of the US dollar against a basket of currencies and thanks to this decline prices on
The Indian Equity market remained remained positive throughout last week as the indices posted a gain of 1.6 percent each largely supported by metal, auto, energy and infra stocks. The Nifty50 index managed to close above 11,000 for the first time since September 2018. Nifty gained 172 points in the truncated week ended March 8. On a weekly basis, the rupee rose over 1
Gold prices continued to fall on Monday dropping through the 1,290 level. The dol-lar continued to gain ground early despite the comment from President Trump that he does not want to see a stronger greenback. Late in the trading session the dollar
The Indian Equity market remained volatile in February weighed down by Indo-Pak tensions, US-China trade war concerns, rise in crude oil prices, concerns regarding lenders selling pledged shares, weak GDP data as well as mixed earnings from India Inc. The index was below its crucial psychological levels of 11000. The index fell down 0.36 percent in February. But in last week of
On Wednesday spot gold prices declined 0.13 percent to close at $1266.9 per ounce amid concerns about global economic growth and a partial U.S. government shut down although a rebound in investor risk appetite in the previous session lim-
After a weak start for a truncated week, the Indian indices recovered from the lows and ended with a percent gain. The Nifty was up 0.98 percent, or 105.9 points, to close at 10,859.9. Positive lead from Wall Street and rally in banking & financial stocks lifted investor sentiment. Ending the week with a Hammer candle implies further strength in the index in coming sessions. The
Gold traded on flat note on Friday after jumping more than 1 percent in the previ-ous session boosted by a crumbling dollar and as sliding stocks prompted an influx of safe haven bids after the U.S. Federal Reserve monetary policy stance aug-
Last week our Indian Equity market opened on a gap up not on Monday and continuing its previous week's momentum. It remained bullish till Thursdays session but Indian indices witnessed bloodbath in Friday trading session as Nifty closed 197 points lower at 10,754. Fears of a global slowdown spooked investors across the globe, including India on Friday. Global mar-
Gold prices steadied on Friday after slipping to a week low in the previous session supported by the uncertainty around the Federal Reserves next years policy out-look while the dollar strengthened on expectations of a rate hike next week.
Last week our Indian Equity market opened on a gap down not on Monday backed by most of the exit polls results indicating possible defeat of BJP in key states. It remained in pressure till 1st session of the Tuesday where after state assembly results came out in favor of congress. Which lifted the sentiments of the market and it recovered from lower levels and it remained
Gold traded firm near a five month peak hit early on Monday supported by a disap-pointing U.S. jobs data that fuelled speculation that the Federal Reserve may stop
Last week our Indian Equity market opened on negative note and remained bearish throughout the week. The December series kick-started on a volatile note with Nifty making swing high of 10,974 and a swing low of 10,611 to end the week with a loss of 1.4 percent. The IT sector outperformed while huge selling was seen in the pharma sector (mainly Sun Pharma), auto, metals,
Gold prices were steady early on Monday as the dollar weakened on U.S. China trade truce that revived investor demand for riskier assets. Spot gold inched up 0.1 percent to $1,222.97 per ounce at the time of writing. U.S. gold futures were up 0.2
The Nifty Bank index started the last week on positive note on Monday and extended its positive run in most of the trading session in the week . The Bank Nifty ended the November F&O expiry on an optimistic note and well above the previous hurdle of 26,400 to give index closing at 26,914 on positive note on weekly basis with gain of 3.50%. Participation was seen
Gold prices traded on flat note on Thursday after rising to a two week high in the previous session as the dollar slipped with uncertainty on the pace of interest rate hikes by the U.S. Federal Reserve also supporting the metal. Spot gold traded at
Last week our Indian Equity market opened on a gap up note but Nifty failed to hold on to its important resistance levels of 10700 and saw a sharp correction in the last 3 trading session that dragged the index below 10,550. The Nifty index closed at the week’s low level of 10,511 down by almost 1.46 %. Broad-based selling was seen in cement, pharma, technology and metal
Gold prices rose on Friday as investors sought safe haven assets amid fears of a chaotic departure for Britain from the European Union. Spot gold was up 0.2 per-
The Indian Equity market, which remained range-bound for first 3-4 session of the week showed some strength in Friday's trading session to ended the week on a positive note. The Nifty closed close to 0.90 percent higher week on week amid a mixed set of results from India Inc, some appreciation in the rupee, weakening crude oil prices and
Gold prices were steady on Monday having dipped to a one month low in the previ-ous session after the U.S. dollar firmed on the Federal Reserves plans to gradually keep tightening borrowing costs.
4. MCX - WEEKLY NEWS LETTERS
INTERNATIONAL NEWS
✍ BULLION
Gold scaled higher on Friday, further off a four-month low, as the dollar tumbled against the
euro on signs of progress in Greece's efforts to secure fresh funding. Spot gold was up 0.2 per
cent at $1,161.88 an ounce by 1029 GMT. Prices touched $1,146.75 on Wednesday, their
lowest since March 18, when the dollar was boosted by weakness in the euro on Greece and the
tumble in Chinese stock markets.
US gold for August delivery gained 0.2 per cent at $1,161.70 an ounce. The euro climbed 1.2
per cent against the dollar, making dollar-denominated assets such as gold cheaper for buyers
using other currencies. "Gold is getting some support from the stronger euro but if we get a deal
with Greece on Sunday, it should be bearish for gold because it removes any risk," Societe
Generale analyst Robin Bhar said. "The major driver is the U.S. because we have Yellen
speaking today and markets will be watching that for any clues about the rate hike." Federal
Reserve Chair Janet Yellen will speak on Friday on the U.S. economic outlook at 1630 GMT.
"No doubt, gold has been a profound disappointment for the bulls over the past few months ...to
see repeated rallies fizzle," INTL FCStone analyst Edward Meir wrote.
Physical demand remained tepid this week as prospective investors in China chased bargains in
equities after a market rout, while those in India delayed purchases. The metal in India was still
sold at a discount to the global benchmark. Chinese stocks rose sharply for a second day on
Friday after Beijing moved to arrest a rout that pulled down key indexes by around 30 per cent
from mid-June, banning shareholders with large stakes in listed firms from selling. Also aiding
gold, the International Monetary Fund trimmed its forecast for global economic growth this
year to 3.3 per cent from a previous estimate of 3.5 per cent, citing recent weakness in the
United States.
Silver was up 0.5 per cent at $15.44 an ounce, palladium rose 1.7 per cent to $648.50 an ounce
and platinum gained 1.4 per cent to $1,032.50 an ounce
✍ ENERGY
Crude oil prices bounced on Thursday on strong economic data from Japan and Germany, and
as Chinese shares picked up after the government launched new steps to halt a rout in its stock
markets. Front-month US crude futures were up 80 cents at $52.45 a barrel by 0745 GMT, but
were still almost 8 percent lower than at the end of last week. Brent crude was 70 cents higher
at $57.75 a barrel, though still 4 per cent below last Friday.Chinese stocks rallied on Thursday
after the securities regulator banned shareholders with large stakes in listed firms from selling,
in Beijing's most drastic step yet to stem a sell-off that has roiled global financial markets.
Chinese police were investigating clues pointing to potentially "malicious" short-selling of
Chinese shares, state news agency Xinhua said on Thursday. Demand for oil was also
5. supported by the return from maintenance of a 120,000 barrels per day crude crude distillation
unit in Japan, where machinery orders hit a 7-year high in May. German exports rose at their
fastest pace this year in May, boosting expectations that Europe's largest economy would pull
off stronger growth in the second quarter after expanding modestly in the first. Traders said
downward momentum in oil had been broken by two days of gains and sentiment was more
positive on Thursday. "Supports held after the sharp sell-off on Monday and these supports
were not seriously tested yesterday," said Tamas Varga, oil analyst at London brokerage . "Oil is
being pressured on multiple fronts, and China's equity wobble, the prospect of Iran's re-entry to
the market and low liquidity all add up to an extremely fraught environment," said Ole Hansen,
head of commodity strategy at Saxo Bank. A surprise increase in U.S. stockpiles despite the
peak-demand American summer driving season added to global oversupply as the Organization
of the Petroleum Exporting Countries and Russia produce at near-record levels.
✍ BASE METAL
Copper
Copper futures edged higher 0.32 per cent to Rs 360.80 per kg amid positive Asian cues and
pickup in spot demand at domestic markets. At the Multi Commodity Exchange, copper for
delivery in August rose Rs 1.15, or 0.32 per cent, to Rs 360.80 per kg, with a turnover of 1,219
lots. The metal for delivery in November contracts edged up by 95 paise, or 0.26 per cent, at Rs
367.20 in a volume of 11 lots ,The metal for delivery in November contracts edged up by 95
paise, or 0.26 per cent, at Rs 367.20 in a volume of 11 lots. Globally, copper for September
delivery climbed 0.3 per cent to 40,600 yuan (USD 6539) per tonne but at the London Metal
Exchange, the metal for delivery in three month fell 0.7 per cent to USD 5,590 per tonne.
Globally, copper for September delivery climbed 0.3 per cent to 40,600 yuan (USD 6539) per
tonne but at the London Metal Exchange, the metal for delivery in three month fell 0.7 per cent
to USD 5,590 per tonne. Market analysts attributed the rise in copper prices in futures trade to a
better trend in Asian trade and pickup in demand at domestic spot market.
✍ Zinc
Zinc futures today edged up 0.63 per cent to Rs 128.40 per kg as participants enlarged positions
amid a firming trend overseas and better domestic demand. At the Multi Commodity Exchange,
zinc for delivery in July rose by 80 paise, or 0.63 per cent, to Rs 128.40 per kg, with a business
turnover of 747 lots. Marketmen said improved demand at the spot market amid a firming trend
in base metals overseas, mainly influenced zinc prices in futures trade here.The metal for
delivery in August also rose by 70 paise, or 0.55 per cent, to Rs 128.90 per kg in a business
volume of 29 lots.
6. ✍ Nickel
Taking positive cues from global market and rising demand from domestic alloy-makers, nickel
futures climbed 1.13 per cent to Rs 737 per kg today.At the Multi Commodity Exchange, nickel
for delivery in current month contracts rose by Rs 8.20, or 1.13 per cent, to Rs 737 per kg in a
business turnover of 2,801 lots. Metal for delivery in August was also trading higher by Rs
8.20, or 1.11 per cent, at Rs 744.30 per kg in 161 lots.Analysts said besides rising spot demand,
a firming trend at the London Metal Exchange (LME), also boosted prices.Meanwhile, nickel
for delivery in three months at the LME rose 0.7 per cent to USD 11,580 per tonne. The metal
rose 4.9 per cent yesterday, posting the biggest two-day rally since 2012.
✍ NCDEX - WEEKLY NEWS LETTERS
✍ FMC reduces trading time
Commodity derivatives markets regulator Forward Markets Commission (FMC) has reduced
the trading time of the evening session in agricultural commodities by two hours and de-listed
four contracts from the evening session owing to the lack of liquidity.
With this, the trading time of the evening session in agricultural commodities ends at 9:00 pm
compared with 11:00 pm earlier in normal days. The closing time during US daylight saving
period has been advanced to 9.30 pm from 11.35 pm earlier.
✍ Mansoon Update
Maharashtra, which ranks second in soyabean and cotton production, is giving artificial rainfall
another shot in an attempt to save crops, 13 years after a similar experiment failed. Amid
worries that a dry spell may force re-sowing to take place, the state government has shortlisted
a private agency for cloud seeding to generate artificial rainfall during August to October.
About 80 per cent of the state's cultivable land depends on rainfall. The government wants to
ensure that kharif crops get at least one life-saving rainfall in those key months and is hoping
that advances in artificial rainfall will help. The state government is already assessing the
possibility of re-sowing in large parts of western Maharashtra, Khandesh and parts of
Marathwada and Vidarbha. "The situation is worrisome in these parts as there has been no rain
for more than 15 days," said a top official of the state's agriculture department. Another high
level official from Mantralaya, the state government's administrative headquarters in Mumbai,
said that in all probability, artificial rainfall will be required in the near future. "We will do
cloud seeding as an experiment. As the process requires large number of no objection
certificates from various government agencies, we have started preparations in order to keep
ourselves ready for any emergency in August-September," the official said.
7. Nearly 37 per cent sowing of various kharif crops, including oilseeds and pulses, has been
completed in Chhattisgarh in the ongoing crop season. "Farmers have completed sowing of
kharif crops on around 13.88 lakh hectares of land against the proposed target of 48.20 lakh
hectares in the state," an official statement said today. The Bilaspur division is leading the chart
with 37 per cent of the average sowing completed in its five districts, followed by Raipur
division (35 per cent), Bastar (20 per cent) and Surguja division (12 per cent), it said. Notably,
the Chhattisgarh Agriculture Department has set the target of cultivating cereals, pulses, oil
seeds and other crops on an area of 48.20 lakh hectares in the current kharif season. The target
has been set to grow paddy on 36.45 lakh hectares, corn on 2.25 lakh hectares, pulses on 3.79
lakh hectares and oilseeds on 3.44 lakh hectares.Moreover, an amount of Rs 1,356.61 crore has
been distributed to over 4.51 lakh farmers during the current kharif season by the Chhattisgarh
Primary Agriculture Co-Operative Samitis.
✍ Refined soya oil
Refined soya oil prices were traded higher 0.78 per cent to Rs 564.30 per 10 kg in futures
trading on thursday as speculators enlarged positions, supported by pickup in demand at the
spot market.At the National Commodity and Derivatives Exchange, refined soya oil for
delivery in October moved up by Rs 4.35, or 0.78 per cent to Rs 564.30 per 10 kg with an open
interest of 84,565 lots.Similarly, the oil for delivery in August contracts gained Rs 3.60, or 0.63
per cent to Rs 576.50 per 10 kg in 1,95,110 lots.Rise in refined soya oil futures to pickup in
demand at the spot market against restricted supplies from producing belts.
✍ Chana
Amid profit-booking by speculators at prevailing levels and easing demand at spot market,
chanaprices were down by 0.21 per cent to Rs 4,334 per quintal in futures market on Thursday
where as on Wednesday Chanapricesrose by 2% to Rs 4,282 per quintal in futures trade today
amid pickup in demand at the spot market and restricted arrivals from producing belts.On
Friday At the National Commodity and Derivative Exchange, chana for delivery in July month
eased by Rs 9, or 0.21 per cent to Rs 4,334 per quintal with an open interest of 13,040
lots.Also, the commodity for delivery in August contracts shed Rs 5, or 0.11 per cent to Rs
4,463 per quintal in 1,85,540 lots.Where as on wednesdaychana for delivery in July shot up by
Rs 84, or 2% to Rs 4,282 per quintal with an open interest of 28,360 lots.Similarly, the
commodity for delivery in August contracts traded higher by Rs 58, or 1.33% to Rs 4,404 per
quintal in 1,88,990 lots.Besides profit-booking by speculators at existing levels, fall in demand
in the spot market against adequate stock position mainly kept pressure on chana prices.
8. ✍ Costorseed
Domestic commodity markets are currently trading on a dull note in the morning trading
session where at the Multi Commodity Exchange (MCX); all of the four indices are trading
lower. Castorseed prices rose by 0.15 per cent on Monday at the National Commodity &
Derivatives Exchange Limited (NCDEX) as a result of the rise in demand from consuming
industries against restricted arrivals in domestic markets which in turn encouraged the investors
to enlarge their holdings.
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