GOLD - Gold on MCX settled up 0.2% at 29164 recouping much of the decline suffered in the previous session, as a wobbly
dollar and losses in U.S. equities. Overnight, gold prices rose as US political uncertainty resurfaced, after President Donald Trump
threatened to ‘close down’ the government, sparking fresh fears that continued political uncertainty in Washington could further
GOLD - Gold on MCX settled down -0.44% at 28952 as investors looked ahead to minutes of the Federal Reserve’s latest policy meeting for further hints on the timing of the next U.S. rate hike. The U.S. dollar was on the defensive on Thursday after the minutes from the Federal Reserve's last policy meeting showed policymakers were increasingly wary of recent softness in inflation
GOLD - The price of gold has traded in positive side most of the trading session in last trading week. Investment demand from hedge funds in the futures market and investors using exchange-traded
GOLD - Gold on MCX settled up 0.18% at 28629 on short covering moving prices further away from their
lowest level in around five weeks as recent selling pressure tied to bets on another US interest rate hike this year
GOLD - Gold prices traded lower on last week on the account of profit booking at higher levels while strengthening dollar index will further lower gold prices in the near term. The Gold is on an upward
trajectory as investors look for a safe haven in an increasingly uncertain world. Despite the strength of
GOLD - Gold prices held steady as rising tensions between the United States and North Korea triggered safe-haven buying. U.S.
President Donald Trump issued a new threat to North Korea, saying the U.S. military was "locked and loaded" as Pyongyang
accused him of driving the Korean Peninsula to the brink of nuclear war and world powers expressed alarm.A report released by
Gold prices fell this week due to a stronger US dollar. In the coming days, gold prices are expected to trade between $1170-$1150. In MCX futures, gold prices fell for the first time in 5 weeks and support is seen at Rs. 28,100 with downside expected to Rs. 27,700-27,500. Silver prices also fell and further declines are expected to $15.5-$15 levels in MCX silver futures down to Rs. 39,000-38,000. The document provides analysis and levels for various commodities on MCX and NCDEX.
GOLD -Even the threat of military action against North Korea couldn’t attract enough buyers to sustain Monday’s early
gains. Over the week-end. The early price action in the gold market suggests that the action by North Korea was a non-
event, at least to gold investors. Helping to pressure gold early Monday was the news that congressional leaders reached a
GOLD -Gold on MCX settled up 0.14% at 28608 recovered from the day's low while Comex Gold prices were slightly lower down
by $3.30 to settle at $1,245.80/oz extending this week's run of directionless trading amid mixed signals on US. An important feature in
the marketplace this week has been rising world government bond yields.Earlier this week central bank officials, many of whom were
GOLD - Gold on MCX settled down -0.44% at 28952 as investors looked ahead to minutes of the Federal Reserve’s latest policy meeting for further hints on the timing of the next U.S. rate hike. The U.S. dollar was on the defensive on Thursday after the minutes from the Federal Reserve's last policy meeting showed policymakers were increasingly wary of recent softness in inflation
GOLD - The price of gold has traded in positive side most of the trading session in last trading week. Investment demand from hedge funds in the futures market and investors using exchange-traded
GOLD - Gold on MCX settled up 0.18% at 28629 on short covering moving prices further away from their
lowest level in around five weeks as recent selling pressure tied to bets on another US interest rate hike this year
GOLD - Gold prices traded lower on last week on the account of profit booking at higher levels while strengthening dollar index will further lower gold prices in the near term. The Gold is on an upward
trajectory as investors look for a safe haven in an increasingly uncertain world. Despite the strength of
GOLD - Gold prices held steady as rising tensions between the United States and North Korea triggered safe-haven buying. U.S.
President Donald Trump issued a new threat to North Korea, saying the U.S. military was "locked and loaded" as Pyongyang
accused him of driving the Korean Peninsula to the brink of nuclear war and world powers expressed alarm.A report released by
Gold prices fell this week due to a stronger US dollar. In the coming days, gold prices are expected to trade between $1170-$1150. In MCX futures, gold prices fell for the first time in 5 weeks and support is seen at Rs. 28,100 with downside expected to Rs. 27,700-27,500. Silver prices also fell and further declines are expected to $15.5-$15 levels in MCX silver futures down to Rs. 39,000-38,000. The document provides analysis and levels for various commodities on MCX and NCDEX.
GOLD -Even the threat of military action against North Korea couldn’t attract enough buyers to sustain Monday’s early
gains. Over the week-end. The early price action in the gold market suggests that the action by North Korea was a non-
event, at least to gold investors. Helping to pressure gold early Monday was the news that congressional leaders reached a
GOLD -Gold on MCX settled up 0.14% at 28608 recovered from the day's low while Comex Gold prices were slightly lower down
by $3.30 to settle at $1,245.80/oz extending this week's run of directionless trading amid mixed signals on US. An important feature in
the marketplace this week has been rising world government bond yields.Earlier this week central bank officials, many of whom were
Drillers cut five oil rigs in the week to Sept. 22, bringing the total count down to 744, the least since June, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.
GOLD -Gold on MCX settled up 0.29% at 28331 as the euro jumped in the wake of a ECB meeting, putting pressure on the
dollar. The ECB, as expected, left interest-rate policy and other stimulative measures untouched. But the euro jumped as investors
GOLD -Increases in U.S. interest rates and expectations for higher global rates have “combined to keep a lid on precious metals prices, Gold on MCX settled flat at 27845 for a second session amid little response to ongoing testimony from Federal Reserve
Chair Janet Yellen. There has been further mixed currency trading with only limited impact on gold, but a renewed increase in
GOLD -Gold prices traded little lower on Friday as US Dollar Index rebounded in early trades. Gold in COMEX traded higher for the second week. Prices were trading up more than 3% and looked to face its near-
term resistance at $ 1250. Gold could settle around $ 1260 to $ 1270 by this week.
The document provides an outlook on gold, silver, and other commodity prices for the coming week. It notes that gold prices may be rangebound ahead of comments from Fed Chair Janet Yellen and US economic data. Silver is also expected to remain under pressure if gold prices decline. Technical indicators show support and resistance levels for various commodities. The document also provides international updates on slowing gold demand in India and China due to higher prices, as well as a stronger US dollar, but uncertainty around Trump's policies continues to support gold.
Last week, spot gold prices traded 1.2 percent higher while MCX gold prices surged by 2 percent. Weakness in the dollar index on account of the possible delays in the long awaited US Tax reforms, fall in
global equities were factors responsible for the rise in the yellow metal.
The U.S. dollar climbed against its Canadian counterpart on Friday, as the release of downbeat Canadian data dented demand for the local currency, while hopes for an upcoming U.S. tax overhaul boosted the greenback.
GOLD -Gold reversed its fortunes somewhat last week, moving higher and ending what has been its worst tranche of losses in a
while. As a result, it may be worth taking a closer look at what was driving this price action and what it could mean moving forward.
In particular, we should take a look at the fundamental and technical factors that have been impacting,and will continue to impact, the
GOLD - The price of gold has traded up and down since the election. Comex gold has been less volatile than gold mining stocks and the gold stock exchange-traded fund. We are very bullish on gold prices for
2017 although the current scenario of Gold is bearish over the short term
GOLD - Gold prices inching upside in recent days over 4% from its all time low of $1122.5 in Comex. We can expect the short term rally to continue till its psychological resistance at $ 1200. The medium
GOLD -Gold have been getting Support for week for Bullish rally but we thinks this is more of a short-term reaction to subsiding geopolitical fears and reiterates his long-term bullish outlook based on a number of
fundamental drivers. In early May, the price of gold was roughly $ 1,250 an ounce. Last week, Spot gold prices
GOLD - Gold Last week, spot gold prices rose by 1.6 percent to close at 27445. Although expectations remain that the U.S. Federal Reserve will further raise interest rates, while MCX gold
prices also rose by around 1.7 percent in the same time frame. Bullion bounced back on Thursday after
Precious metals slumped last week after a negative close in June despite a slumping dollar as major central
banks globally turned unexpectedly hawkish. The Fed increased rates by 25 bps as expected but the
probability of a reducing divergence in policies between Fed and other banks like ECB and BOE resulted in
The document provides daily and weekly technical analysis and market review for various commodities traded on MCX and NCDEX exchanges in India. For crude oil, support is seen at Rs. 3145 and Rs. 3070, with resistance at Rs. 3300. Gold support is at Rs. 29750, with resistance at Rs. 30200 and Rs. 30700. In NCDEX, cardamom and jeera traded positively while guar complex, cotton and coriander traded lower. The technical outlook is bullish for crude oil and gold if key support levels are respected.
This daily newsletter from TheEquicom provides a market wrap and outlook on commodities such as gold, silver, crude oil, natural gas, and base metals. Recent declines in gold and silver prices are attributed to signs of economic recovery in the US boosting other asset classes. Technical analysis outlooks are given recommending strategies such as selling on highs or buying on dips for different commodity contracts over the next month. International market prices and an economic calendar are also included. The newsletter provides investors with commodity market news and analysis to manage investment decisions.
This daily newsletter from TheEquicom provides market summaries and analysis for commodities such as gold, silver, crude oil, natural gas, and base metals. Recent declines in gold and silver prices are attributed to signs of economic recovery in the US and hints from the US Federal Reserve that quantitative easing measures may end next year. Crude oil and base metal prices are expected to consolidate with potential resistance and support levels provided. The newsletter concludes with commodity spot prices, economic calendar, and disclaimer.
Energy & Commodities, No. 6 - June 8, 2012Swedbank
Swedbank's Total Commodity Price Index fell by 7.3% in USD in May, the largest monthly decline since 2009, led by a decline in energy commodities like crude oil. Crude prices have fallen due to a slowing global economy and rising inventories, lowering Swedbank's average 2012 oil price forecast to USD 110 per barrel from USD 119. Excluding energy, the commodity price index fell 3.7% as industrial activity slowed, raising metal stockpiles and lowering metal prices despite potential increased Chinese infrastructure investment. Food prices also declined slightly despite expected record grain production in 2012.
- Gold prices pared gains after strong US jobs data increased expectations of a June interest rate hike by the Federal Reserve.
- Gold demand in Asia rose due to price corrections, but some buyers are waiting for further price drops.
- Gold prices moved higher on Friday as the US dollar weakened, but the Fed's hawkish stance is expected to limit gains.
GOLD -Gold have been getting slammed for weeks but we thinks this is more of a short-term reaction to subsiding
geopolitical fears and reiterates his long-term bullish outlook based on a number of fundamental drivers. Gold prices settled
GOLD -Gold on MCX settled down -0.52% at 28943 pauses it's run and slipped away trimming its recent gains as the dollar
regained some ground ahead of a string of US data due later in the day and on Friday amid mounting hopes for a June rate hike
by the Federal Reserve. Despite the recent run on resistance, day traders continue to buy on the dips.
GOLD - The precious metal had a great start in the beginning of this year. Gold prices rose from $ 1130 – 1260 per ounce, within a period of 2 and half months. In Gold international spot market But
somehow the bullish tone could not keep up till the end of February
Drillers cut five oil rigs in the week to Sept. 22, bringing the total count down to 744, the least since June, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday.
GOLD -Gold on MCX settled up 0.29% at 28331 as the euro jumped in the wake of a ECB meeting, putting pressure on the
dollar. The ECB, as expected, left interest-rate policy and other stimulative measures untouched. But the euro jumped as investors
GOLD -Increases in U.S. interest rates and expectations for higher global rates have “combined to keep a lid on precious metals prices, Gold on MCX settled flat at 27845 for a second session amid little response to ongoing testimony from Federal Reserve
Chair Janet Yellen. There has been further mixed currency trading with only limited impact on gold, but a renewed increase in
GOLD -Gold prices traded little lower on Friday as US Dollar Index rebounded in early trades. Gold in COMEX traded higher for the second week. Prices were trading up more than 3% and looked to face its near-
term resistance at $ 1250. Gold could settle around $ 1260 to $ 1270 by this week.
The document provides an outlook on gold, silver, and other commodity prices for the coming week. It notes that gold prices may be rangebound ahead of comments from Fed Chair Janet Yellen and US economic data. Silver is also expected to remain under pressure if gold prices decline. Technical indicators show support and resistance levels for various commodities. The document also provides international updates on slowing gold demand in India and China due to higher prices, as well as a stronger US dollar, but uncertainty around Trump's policies continues to support gold.
Last week, spot gold prices traded 1.2 percent higher while MCX gold prices surged by 2 percent. Weakness in the dollar index on account of the possible delays in the long awaited US Tax reforms, fall in
global equities were factors responsible for the rise in the yellow metal.
The U.S. dollar climbed against its Canadian counterpart on Friday, as the release of downbeat Canadian data dented demand for the local currency, while hopes for an upcoming U.S. tax overhaul boosted the greenback.
GOLD -Gold reversed its fortunes somewhat last week, moving higher and ending what has been its worst tranche of losses in a
while. As a result, it may be worth taking a closer look at what was driving this price action and what it could mean moving forward.
In particular, we should take a look at the fundamental and technical factors that have been impacting,and will continue to impact, the
GOLD - The price of gold has traded up and down since the election. Comex gold has been less volatile than gold mining stocks and the gold stock exchange-traded fund. We are very bullish on gold prices for
2017 although the current scenario of Gold is bearish over the short term
GOLD - Gold prices inching upside in recent days over 4% from its all time low of $1122.5 in Comex. We can expect the short term rally to continue till its psychological resistance at $ 1200. The medium
GOLD -Gold have been getting Support for week for Bullish rally but we thinks this is more of a short-term reaction to subsiding geopolitical fears and reiterates his long-term bullish outlook based on a number of
fundamental drivers. In early May, the price of gold was roughly $ 1,250 an ounce. Last week, Spot gold prices
GOLD - Gold Last week, spot gold prices rose by 1.6 percent to close at 27445. Although expectations remain that the U.S. Federal Reserve will further raise interest rates, while MCX gold
prices also rose by around 1.7 percent in the same time frame. Bullion bounced back on Thursday after
Precious metals slumped last week after a negative close in June despite a slumping dollar as major central
banks globally turned unexpectedly hawkish. The Fed increased rates by 25 bps as expected but the
probability of a reducing divergence in policies between Fed and other banks like ECB and BOE resulted in
The document provides daily and weekly technical analysis and market review for various commodities traded on MCX and NCDEX exchanges in India. For crude oil, support is seen at Rs. 3145 and Rs. 3070, with resistance at Rs. 3300. Gold support is at Rs. 29750, with resistance at Rs. 30200 and Rs. 30700. In NCDEX, cardamom and jeera traded positively while guar complex, cotton and coriander traded lower. The technical outlook is bullish for crude oil and gold if key support levels are respected.
This daily newsletter from TheEquicom provides a market wrap and outlook on commodities such as gold, silver, crude oil, natural gas, and base metals. Recent declines in gold and silver prices are attributed to signs of economic recovery in the US boosting other asset classes. Technical analysis outlooks are given recommending strategies such as selling on highs or buying on dips for different commodity contracts over the next month. International market prices and an economic calendar are also included. The newsletter provides investors with commodity market news and analysis to manage investment decisions.
This daily newsletter from TheEquicom provides market summaries and analysis for commodities such as gold, silver, crude oil, natural gas, and base metals. Recent declines in gold and silver prices are attributed to signs of economic recovery in the US and hints from the US Federal Reserve that quantitative easing measures may end next year. Crude oil and base metal prices are expected to consolidate with potential resistance and support levels provided. The newsletter concludes with commodity spot prices, economic calendar, and disclaimer.
Energy & Commodities, No. 6 - June 8, 2012Swedbank
Swedbank's Total Commodity Price Index fell by 7.3% in USD in May, the largest monthly decline since 2009, led by a decline in energy commodities like crude oil. Crude prices have fallen due to a slowing global economy and rising inventories, lowering Swedbank's average 2012 oil price forecast to USD 110 per barrel from USD 119. Excluding energy, the commodity price index fell 3.7% as industrial activity slowed, raising metal stockpiles and lowering metal prices despite potential increased Chinese infrastructure investment. Food prices also declined slightly despite expected record grain production in 2012.
- Gold prices pared gains after strong US jobs data increased expectations of a June interest rate hike by the Federal Reserve.
- Gold demand in Asia rose due to price corrections, but some buyers are waiting for further price drops.
- Gold prices moved higher on Friday as the US dollar weakened, but the Fed's hawkish stance is expected to limit gains.
GOLD -Gold have been getting slammed for weeks but we thinks this is more of a short-term reaction to subsiding
geopolitical fears and reiterates his long-term bullish outlook based on a number of fundamental drivers. Gold prices settled
GOLD -Gold on MCX settled down -0.52% at 28943 pauses it's run and slipped away trimming its recent gains as the dollar
regained some ground ahead of a string of US data due later in the day and on Friday amid mounting hopes for a June rate hike
by the Federal Reserve. Despite the recent run on resistance, day traders continue to buy on the dips.
GOLD - The precious metal had a great start in the beginning of this year. Gold prices rose from $ 1130 – 1260 per ounce, within a period of 2 and half months. In Gold international spot market But
somehow the bullish tone could not keep up till the end of February
GOLD -Gold had a satisfying first quarter, rising 9% since the beginning of the year. While that can be considered a good
start, five events sprinkled throughout 2017 could send it much higher. A strong run in gold prices could continue as the
US dollar weakens and investors seek safe-havens in the face of increasing geo-political risks, “Gold is going higher here.
GOLD - Gold on MCX settled up 0.32% at 28476 as investors continue to pile into the precious metal amid expectations that Fed
could keep interest rates low for longer than initially anticipated. Fed kept interest rates unchanged but expected to start winding
GOLD - Gold on MCX settled down 0.05% at 28576 as investors looked ahead to a key batch of U.S. economic data to gauge
how it will impact the Federal Reserve's view on monetary policy. Gold has been well-supported in recent weeks as fading
GOLD -It had been a pleasant week for gold investors until last day correction. After a steep climb from around $ 1,250 to $ 1,260 per oz, the price of the precious metal started to fall and by last month was back at around $1,230.
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.
The Gold market is under long liquidation as market has witnessed drop in open interest by -2.48% to settled at 6130 while prices down 150 rupees. Now Gold is getting support at 28914 and below same could see a test of 28809 level,
Gold demand in India remained subdued this week despite a sharp fall in prices to over 10-1/2 month lows as a severe cash crunch and holidays kept buyers away from the market, while premiums in China fell from near 3-year highs touched in the prior week
Last week, spot and MCX gold prices are trading lower by around 1 percent as dollar gained sharply after the ECB press conference. The ECB in its latest meeting said it would trim bond purchases to 30 billion
This document provides daily and weekly technical analysis and levels for various commodities traded on MCX and NCDEX exchanges in India.
It includes daily and weekly support and resistance levels for metals like aluminum, copper, crude oil, gold, lead, natural gas, nickel, silver, and zinc traded on MCX. Similarly, it provides levels for agricultural commodities like soybean, refined soy oil, mustard seed, jeera, guar seed, and turmeric traded on NCDEX.
The document also includes a weekly market review of spice commodities on NCDEX and technical analysis for silver, crude oil and copper providing support and resistance levels and trends for these commodities on MCX for the coming week.
Gold rose on Wednesday as the dollar steadied though analysts said the likelihood of higher U.S. rates later this year was likely to keep prices under pressure, while oversupply pushed platinum to
its lowest since April. Spot platinum XPT= fell to $937.25 earlier, its lowest since touching $936.81
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
Achiievers Equities' daily commodity report brings to you market round up and daily trading ideas for MCX, NCDEX futures and options. Get technical analysis on gold, silver,Crudeoil and more.
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 - Gold on MCX settled up 0.34% at 28509 as the U.S. Federal Reserve's cautious message on interest rates left the dollar around five-week lows, making bullion cheaper those holding other currencies. The Fed raised
Similar to Commodity Research Report 28 August 2017 Ways2Capital (16)
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 document provides a weekly market update with information on currency exchange rates, stock market indices, commodity prices and economic events. Some key points:
- The Indian rupee depreciated against the US dollar and Japanese yen but appreciated against the British pound.
- Domestic stock market indices like Nifty 50 and Nifty Bank saw weekly gains around 0.5-1%, while metals and media sectors gained over 2%.
- International crude oil and gold prices declined nearly 3% over the week.
- Upcoming economic events include services PMI reports from the UK and US as well as US jobs and unemployment data.
This document provides market wrap-ups and summaries for various commodities across several exchanges including NCDEX, MCX, LME, and COMEX. It includes closing prices and percentage changes for commodities such as gold, silver, crude oil, copper, aluminum, and agricultural products. It also provides upcoming economic events and calendar, weekly pivots and ranges for various currencies and commodities, and fundamental analysis for some commodity markets.
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-
This document provides a weekly market update on currency exchange rates, stock market indices, and commodity prices. It includes the weekly percentage changes for various currency pairs, stock market indices in India, and commodity prices. It also lists the top weekly gainers and losers from the stock market. Pivot point levels are provided for analyzing support and resistance levels for Nifty 50 stocks. Options open interest data is also presented.
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-
This document provides a weekly market update with information on currency exchange rates, stock market indices, and commodity prices. It summarizes the weekly performance of various indices such as Nifty, Nifty Bank, and sectoral indices. It also lists the top weekly gainers and losers among stocks. The document concludes with stock-specific pivot point levels and analysis of long and short positions in Nifty options.
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.
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Neil Horowitz
On episode 272 of the Digital and Social Media Sports Podcast, Neil chatted with Brian Fitzsimmons, Director of Licensing and Business Development for Barstool Sports.
What follows is a collection of snippets from the podcast. To hear the full interview and more, check out the podcast on all podcast platforms and at www.dsmsports.net
Zodiac Signs and Food Preferences_ What Your Sign Says About Your Tastemy Pandit
Know what your zodiac sign says about your taste in food! Explore how the 12 zodiac signs influence your culinary preferences with insights from MyPandit. Dive into astrology and flavors!
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
Ellen Burstyn: From Detroit Dreamer to Hollywood Legend | CIO Women MagazineCIOWomenMagazine
In this article, we will dive into the extraordinary life of Ellen Burstyn, where the curtains rise on a story that's far more attractive than any script.
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
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Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...BBPMedia1
Nathalie zal delen hoe DEI en ESG een fundamentele rol kunnen spelen in je merkstrategie en je de juiste aansluiting kan creëren met je doelgroep. Door middel van voorbeelden en simpele handvatten toont ze hoe dit in jouw organisatie toegepast kan worden.
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....Lacey Max
“After being the most listed dog breed in the United States for 31
years in a row, the Labrador Retriever has dropped to second place
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popular canines. The French Bulldog is the new top dog in the
United States as of 2022. The stylish puppy has ascended the
rankings in rapid time despite having health concerns and limited
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Digital Marketing best practices including influencer marketing, content creators, and omnichannel marketing for Sustainable Brands at the Sustainable Cosmetics Summit 2024 in New York
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Commodity Research Report 28 August 2017 Ways2Capital
1.
2. BULLION METALS OUTLOOK -
GOLD - Gold on MCX settled up 0.2% at 29164 recouping much of the decline suffered in the previous session, as a wobbly
dollar and losses in U.S. equities. Overnight, gold prices rose as US political uncertainty resurfaced, after President Donald Trump
threatened to ‘close down’ the government, sparking fresh fears that continued political uncertainty in Washington could further
delay the introduction of tax-reform. Gold’s path to $ 1300 was made easier somewhat as investors fretted the possibility of further
turmoil in Washington , following President Trump’s threat to shut down the government if he does not get funding for a wall on the
U.S.-Mexico border. Also on Wednesday, US economic data were mixed, with the service and manufacturing sectors going in
different directions in August. The IHS Markit flash manufacturing purchasing managers index fell to a two-month low, while the
services PMI rose to a 28-month high. New-home sales fell to a seven-month low in July. Now traders and investors showed caution
ahead of the Kansas City Federal Reserve Bank’s three-day Jackson Hole, Wyo., symposium of global central bankers beginning
Thursday. Financial markets will be looking for hints from central bankers on any changes to monetary policy, especially in marquee
speeches from the Fed’s Janet Yellen and the ECB’s Mario Draghi on Friday. Higher rates tend to boost the dollar, cutting demand
for gold investors using other currencies. Higher rates also boost the appeal of investments that offer a yield, which gold does not.
Technically market is getting support at 29088 and below same could see a test of 29011 level, And resistance is now likely to be
seen at 29228, a move above could see prices testing 29291.
GOLD CHART
Chart Details - On the Above given Daily Chart of Gold has Appiles the Bollinger Band Along with MACD A closer look at
price action sees gold holding within the confines of a well-defined ascending channel formation off the July lows. Last week we
highlighted that the rally in gold price had failed at, “1300 before pulling back sharply. Price response to this level leaves the
immediate risk lower heading into next week, but the broader outlook remains weighted to the topside while above 1251. A topside
breach eyes subsequent targets at 1321/25.” Prices held a tight range into the start of the week with Fed Chair Yellen’s speech on
Friday charging a quick drop before turning sharply higher to close the week in the black. Technically market is getting support at
29088 and below same could see a test of 29011 level, And resistance is now likely to be seen at 29228, a move above could see
prices testing 29291.
Monday 28 Aug 2017
3. SILVER -Silver on MCX settled up 0.35% at 39074 as sentiment on the greenback soured following remarks by U.S. President
Trump and as investors remained cautious ahead of Jackson Hole summit. Gold’s path to $ 1,300 was made easier somewhat as
investors fretted the possibility of further turmoil in Washington, following President Trump’s threat to shut down the government if
he does not get funding for a wall on the U.S.-Mexico border. New U.S. single-family home sales unexpectedly fell in July,
dropping to their lowest in seven months amid a surge in prices, raising concerns of a slowdown in the housing market recovery.
Euro zone business growth maintained a solid clip in August, driven by the best manufacturing performance in 6-1/2 years despite a
strong euro, easily offsetting a mild slowdown in services growth, a key private sector survey showed. Unconventional monetary
policy is a success, but gaps in understanding the relatively new tools remain, European Central Bank President Mario Draghi said,
cautioning against hasty policy responses to the new reality. The European Central Bank should quickly end asset buys next year as
the outlook does not warrant the extension of its 2.3 trillion euro scheme, Bundesbank President Jens Weidmann said, weighing in
on the biggest issue facing the ECB this autumn. Traders, however, remained cautious of initiating large positions in the precious
metal ahead of speeches by European Central Bank president Mario Draghi and Federal Reserve chair Janet Yellen at a two-day
central banking symposium in Jackson Hole, Wyoming, which gets underway on Thursday. Technically now Silver is getting
support at 38907 and below same could see a test of 38741 levels, and resistance is now likely to be seen at 39192, a move above
could see prices testing 39311.
SILVER CHART
Detail of Chart -Silver continues to maintain the rising channel and despite last week’s key reversal-day we’ll continue to respect
the lower parallel for as long as it holds. There has been a lot of ‘play’ around the 200-day MA, with several days failing to close
above only twice it has, fractionally during the past couple of weeks. We are definitely seeing this moving average exert its influence.
If silver can free itself from the 200-day, a break to the 8/18 high at 17.32 can unfold, which depending on the timing may be in
confluence with the trend-line running down off the 2017 high. Technically now Silver is getting support at 38907 and below same
could see a test of 38741 levels, and resistance is now likely to be seen at 39192, a move above could see prices testing 39311.
7. MCX - WEEKLY NEWS LETTERS
INTERNATIONAL UPDATES ( BULLION & ENERGY )✍
GOLD✍
Gold prices gained slightly in Asia on Monday as investors noted the weaker dollar as central bank chiefs
in Wyoming dodged policy discussions and the impact of Hurricane Harvey on the U.S. growth outlook
was under review. Gold futures for December delivery rose 0.14% to $1,299.66 a troy ounce. This week,
Friday’s U.S. jobs report for August is in focus to gauge how it will impact on the path of Fed policy.
Traders will also be closely watching a revised reading of U.S. second quarter growth. Financial markets
in the UK are closed on Monday. Last week, gold prices ended higher in a volatile session on Friday,
reversing earlier losses as the U.S. dollar weakened after Federal Reserve Chair Janet Yellen's speech at
Jackson Hole didn’t specifically address monetary policy. Gold gained ground as the dollar fell after
Yellen’s speech at the Jackson Hole economic symposium did not discuss the outlook for monetary
policy, disappointing some investors who had hoped she would sound a hawkish tone. The dollar index
has fallen around 10% so far this year amid ongoing uncertainty over the economic agenda of U.S.
President Donald Trump and doubts that the Fed will deliver a third rate hike this year. A weaker U.S.
currency makes the dollar-denominated metal cheaper for foreign buyers. Among base metals, copper
ended at $3.05 a pound, remaining close to three year highs amid expectations that ongoing demand from
China will continue to support prices.
Gold prices ended higher in a volatile session on Friday, reversing earlier losses as the U.S. dollar
weakened after Federal Reserve Chair Janet Yellen's speech at Jackson Hole didn’t specifically address
monetary policy. Gold futures for December delivery settled up 0.3% at $1,295.95 on the Comex division
of the New York Mercantile Exchange, after falling as low as $1,281.3 earlier, the weakest level since
August 16. Gold gained ground as the dollar fell after Yellen’s speech at the Jackson Hole economic
symposium did not discuss the outlook for monetary policy, disappointing some investors who had hoped
she would sound a hawkish tone. The U.S. dollar index, which measures the greenback’s strength against
a trade-weighted basket of six major currencies, was down 0.82% at 93.47 late Friday after falling as low
as 92.34 earlier.
The dollar index has fallen around 10% so far this year amid ongoing uncertainty over the economic
agenda of U.S. President Donald Trump and doubts that the Fed will deliver a third rate hike this year. A
weaker U.S. currency makes the dollar-denominated metal cheaper for foreign buyers. Elsewhere in
precious metals trading, silver rose 0.57% to $17.07 a troy ounce late Friday, while platinum was down
0.54% at $977.3. Among base metals, copper ended at $3.05 a pound, remaining close to three year highs
amid expectations that ongoing demand from China will continue to support prices. In the week ahead,
investors will be focusing on Friday’s U.S. jobs report for August to gauge how it will impact on the path
of Fed policy. Traders will also be closely watching a revised reading of U.S. second quarter growth.
8. Thursday’s euro zone preliminary inflation estimate will also be in focus.
Gold firmed on Friday after U.S. Federal Reserve Chair Janet Yellen made no mention of monetary policy
in her much-anticipated speech, while investors awaited clues from European Central Bank President
Mario Draghi. U.S. short-term interest rate futures rose slightly, reflecting reduced expectations that the
Fed will raise interest rates further this year, after Yellen skipped mention of it when speaking in Jackson
Hole, Wyoming. relieved the market of a little bit of concern about that," said Bill O'Neill, partner with
Logic Advisors in Saddle River, New Jersey, adding this was positive for gold prices and pressured the
dollar. She clearly came off dovish, saying maybe we need a few changes in bank regulation, but they
should be modest." Gold is highly sensitive to rising interest rates, which increase the opportunity cost of
holding non-yielding bullion while boosting the greenback. Draghi is scheduled to speak at the Jackson
Hole central bankers meeting at 1900 GMT. Monday is a bank holiday in the United Kingdom. Spot gold
XAU= was up 0.5 percent at $ 1,292.14 an ounce by 2:00 p.m. EST and was on track to close the week up
0.6 percent. U.S. gold futures GCcv1 settled up 0.5 percent at $ 1,297.90. Earlier, Dallas Fed President
Robert Kaplan called for patience on raising interest rates any further but urged speed in reducing the
Federal Reserve's balance sheet. data showed home resales unexpectedly fell in July to an 11-month low
as a chronic shortage of properties boosted prices, the latest sign that the housing market recovery was
slowing. Weekly jobless claims rose, and new orders for key U.S.-made capital goods were better than
expected in July. geopolitical concerns were also preventing gold prices from retreating significantly,
market participants said.
Gold prices were little changed on Friday, as investors remained cautious ahead of comments by Federal
Reserve Chair Janet Yellen and European Central Bank President Mario Draghi at Jackson Hole later in
the day. Comex gold futures were steady at $ 1,292.06 a troy ounce by 03:00 a.m. ET. Neither Yellen nor
Draghi were expected to announce new policy messages later Friday, but market participants will be
eyeing any potential hints on future policy moves. Gold prices had benefited from a weaker dollar earlier
in the week, after U.S. President Donald Trump said he would be willing to shut down the government to
finance a wall along the U.S.-Mexico border and that he might terminate the NAFTA trade treaty. The
U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major
currencies, was steady at 93.26. The precious metal is sensitive to moves in U.S. rates, which lift the
opportunity cost of holding non-yielding assets such as bullion. A gradual path to higher rates is seen as
less of a threat to gold prices than a swift series of increases. Market participants were also looking ahead
to U.S. reports on durable goods orders, due later in the day. Elsewhere on the Comex, silver futures were
steady at $16.96 a troy ounce.
Gold dipped slightly in Asia on Friday with markets poised to react to any cues on monetary policy from
the Fed or European Central bank chiefs later in the day. Gold futures for December delivery on the
Comex division of the New York Mercantile Exchange fell 0.01% to $1,291.94 a troy ounce. Overnight,
gold prices were flat amid thin trading volumes as market participants awaited clues on monetary policy
9. from a central banking symposium in Jackson Hall which got underway on Thursday. Gold traded in a
narrow $6 range, as traders appeared to keep their powder dry ahead of key speeches by European Central
Bank president Mario Draghi and Federal Reserve chair Janet Yellen. Draghi, however, is not expected to
offer much insight into the European Central Bank’s thinking on monetary policy but traders are expected
to parse Yellen’s comments to gauge the Fed’s sentiment on a third rate hike later this year. Analyst
expectations have turned lower for a third rate hike in December, following the release of the Fed’s
minutes last week showing that policymakers remained concerned with the slow pace of inflation. “Yes
the Fed may hike in December and yes the ECB may announce a further taper for 2018 in October but
recent events may mean that now might not be the time they choose to guide markets towards such an
outcome.
Gold prices nudged lower on Thursday, but held near the $1,300-level as market players awaited
comments on monetary policy from the Jackson Hole meeting set to begin later in the day. An annual
meeting of top central bankers and economists hosted by the Federal Reserve Bank of Kansas City in
Jackson Hole, Wyoming, is set to take place from Thursday to Saturday. The focus will be on speeches
from Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi on Friday.
Their comments will be closely watched for fresh policy signals from the world’s two most powerful
central banks. Comex gold futures slipped $1.10, or around 0.1%, to $1,293.64 a troy ounce by 2:50AM
ET. The yellow metal rose to its highest level since November at $1,306.90 late last week. Gold prices
added about 0.3% on Wednesday, as U.S. political developments kept investors on edge and supported
safe-haven demand for the precious metal. President Donald Trump raised the specter of a government
shutdown to fulfill a campaign pledge of building a wall at the U.S.-Mexican border. Elsewhere on the
Comex, silver futures inched down 3.8 cents, or around 0.2%, to $17.00 a troy ounce.
Gold prices fell in Asia on Thursday as investors geared up for a slate of central bank chiefs at Jackson
Hole, Wyoming, over the next two days to discuss global monetary policies. Gold futures for December
delivery on the Comex division of the New York Mercantile Exchange drifted down 0.12% to $1,293.20 a
troy ounce. Traders remained cautious of initiating large positions in the precious metal ahead of speeches
by European Central Bank president Mario Draghi and Federal Reserve chair Janet Yellen at the central
banking symposium. The Jackson Hole conclave is expected to shed further light on the path of interest
rate hikes in the U.S. this year and on unwinding stimulus efforts by central banks globally, with a
particular focus on the European Central Bank. Ahead of the central banking symposium analysts have
scaled back expectations of further monetary policy tightening. “Yes the Fed may hike in December and
yes the ECB may announce a further taper for 2018 in October but recent events (softer inflation, softer
market sentiment and the strong Euro for the ECB) may mean that now might not be the time they choose
to guide markets towards such an outcome.
Gold prices held steady near the key $1,300-level on Wednesday, as market players braced for an annual
gathering of central bankers, where the heads of the Federal Reserve and European Central Bank are set
to deliver speeches on the outlook for monetary policy and interest rates. Comex gold futures tacked on
10. $1.20, or around 0.1%, to $1,292.22 a troy ounce by 2:45AM ET. The yellow metal rose to its highest
level since November at $1,306.90 late last week. Gold prices fell on Tuesday, as strength in the U.S.
dollar pressured the precious metal. An annual meeting of top central bankers and economists hosted by
the Federal Reserve Bank of Kansas City in Jackson Hole, Wyoming, is set to take place from Thursday
to Saturday, with keynote speeches from Janet Yellen and Mario Draghi in the spotlight. Their comments
will be closely watched for fresh policy signals from the world’s two most powerful central banks.
Meanwhile, U.S. political developments kept investors on edge after President Donald Trump raised the
specter of a government shutdown to fulfill a campaign pledge of building a wall at the U.S.-Mexican
border.
Gold prices fell on Tuesday, pressured by the stronger U.S. dollar ahead of an annual meeting of central
bankers this week, while palladium fell from its highest level since February 2001. Spot gold XAU= was
down 0.4 percent at $ 1,285.25 an ounce by 2:15 p.m. EDT, holding near last week's peak at $1,300.80, its
highest since early November. U.S. gold futures GCcv1 settled down 0.4 percent at $1,291. Investors
awaited speeches by European Central Bank President Mario Draghi and U.S. Federal Reserve Chair
Janet Yellen on Friday at Jackson Hole, Wyoming, for clues to the direction of interest and currency rates.
The firm greenback makes dollar-denominated commodities more expensive for holders of other
currencies, which could subdue demand. "Draghi could take the opportunity to downplay the idea of
monetary tightening in the euro zone, which would have a dampening effect on the euro and lift the
dollar. "From the Fed's perspective, we think they are not too concerned about weaker than expected
inflation readings. It's pretty clear the Fed needs to raise rates." The Federal Reserve next meets on Sept.
19-20. Fed funds futures prices show traders see a 42 percent chance of an interest rate increase by the
December meeting, with a marginal chance of a rate cut. monetary policy, especially from the Fed, and/or
significant escalation of geopolitical risks are potential triggers. We expect the former to have a more
durable price impact," said Joni Teves, strategist for UBS, in reference to what could drive gold prices
above $ 1,300.
Gold prices edged lower on Tuesday, as market players looked ahead to the annual meeting of top central
bankers and economists in Jackson Hole, Wyoming later this week. Comex gold futures shed $ 7.50, or
around 0.6%, to $ 1,289.15 a troy ounce by 3:05AM ET. The yellow metal logged its highest finish in
nearly 11 weeks on Monday as tensions between the U.S. and North Korea came back in focus. An annual
meeting of top central bankers and economists hosted by the Federal Reserve Bank of Kansas City in
Jackson Hole, Wyoming, is set to take place from Thursday to Saturday, with keynote speeches from
Janet Yellen and Mario Draghi in the spotlight. Their comments will be closely watched for fresh policy
signals from the world’s two most powerful central banks. Fed chair Yellen will speak on the topic of
financial stability at 10:00AM ET Friday. With minutes from the Federal Open Market Committee's latest
deliberations showing concern about soft inflation, she is not likely to give new guidance on policy.
Markets remain skeptical the Fed will raise rates a third time this year due to worries over the subdued
inflation outlook, but it is widely expected to start the process of reducing its balance sheet by September.
Later in the day, ECB chief Draghi will deliver remarks at 3:00PM ET. While market expectations had
11. been previously high that Draghi would use his address to signal ECB tapering in the autumn, reports last
week suggest he will not be making major policy announcements. Investors are likely to continue to fret
over the latest headlines coming out of Washington after political developments shook the market last
week.
Gold dipped in Asia on Tuesday after President Donald Trump laid out a strategy for keeping troops in
Afghanistan after 16 years, though promising a tougher and more pragmatic approach to supporting the
government in Kabul and working with partners such as Pakistan. Gold futures for December delivery on
the Comex division of the New York Mercantile Exchange dipped 0.17% to $1,294.51 a troy ounce. Gold
prices traded near session highs on Monday, in the wake of continued dollar weakness, following growing
fears over geopolitical tensions in North Korea, after the U.S. and South Korea began military drills. Safe
haven demand rose, supporting a move higher in gold prices, after the U.S. and South Korea began
computer-simulated military exercises on Monday, risking a reaction from North Korean leader Kim Jong
un, who may view such exercises as preparation for an invasion of the isolated nation. Pyongyang warned
on Sunday that the annual U.S.-South Korea military exercises are “reckless behavior driving the situation
into the uncontrollable phase of a nuclear war.” The rise in geopolitical tensions in the Korean Peninsula
comes amid turmoil in Washington, as investors continued to doubt whether the recent political
controversies engulfing President Donald Trump will delay the introduction of his pro-growth economic
agenda. Gold’s move higher, however, could come under pressure later this week should speeches by
central bankers Janet Yellen or Mario Draghi include hawkish undertones.
AHEAD OF THE COMING WEEK SIGNIFICANT EVENTS LIKELY TO AFFECT THE
MARKETS.
Monday, August 28
Financial markets in the UK are to remain closed for a holiday.
Tuesday, August 29
Canada is to release data on raw materials price inflation.
The U.S. is to report on consumer confidence.
Wednesday, August 30
Australia is to release data on building approvals and completed construction work.
Germany is to release preliminary inflation data.
The UK is to produce data on net private lending.
The U.S. is to release the ADP nonfarm payrolls report as well as revised data on second quarter growth.
Thursday, August 31
China is to release survey data on activity in the manufacturing and services sectors.
12. New Zealand is to publish a report on business confidence.
Australia is to produce data on private capital spending.
The euro zone is to release its preliminary inflation estimate while Germany is to report on retail sales.
Canada is to release monthly data on GDP growth.
The U.S. is to put out a string of data, including reports on jobless claims, personal income and spending
and pending home sales.
Friday, September 1
China is to publish its Caixin manufacturing PMI.
The UK is to release data on manufacturing activity.
The U.S. is to round up the week with the non-farm payrolls report for August and the Institute for Supply
Management is to publish its manufacturing index.
ENERGY
Crude oil prices were mixed in Asia on Monday in the aftermath as the U.S. benchmark was hit by initial
weaker demand expectations after the massive hit taken to U.S. Gulf Coast output and refineries from
Hurricane Harvey and follow-on flooding inland in Texas. The U.S. West Texas Intermediate crude
October contract fell 0.36% to $47.70 a barrel. Elsewhere, on the ICE Futures Exchange in London, Brent
oil for October delivery gained 0.40% to $ 52.19 a barrel. Hurricane Harvey has knocked offline ~22% of
Gulf of Mexico oil production, or nearly 380M bbl/pay out of 1.75M, and ~26% of natural gas output, or
828M cf/day out of 3.22T, according to the U.S. Department of the Interior’s Bureau of Safety and
Environmental Enforcement. In the refining sector, most Texas Gulf Coast refining and shipping is shut or
curtailed. Exxon Mobil closed its Baytown refinery at the Houston Ship Channel - the second largest
refinery in the U.S., with production capacity of 560K bbl/day - due to severe flooding. Royal Dutch
Shell says its 325K bbl/day Deer Park refinery and chemical plant complex may be shut for a week,
Petrobras shut its 112K bbl/day Pasadena plant, and Phillips 66 shut its 247K bbl/day Sweeny refinery.
All Corpus Christi refineries already were closed, so the Houston plant closures compound worries about
fuel shortages that could develop as rain continues; long-term refinery outages could cause fuel shortages
and sharply higher gasoline prices around the U.S. Houston also is the starting point of the massive
Colonial Pipeline that takes gasoline, diesel and jet fuel as far north as New York, but operations had not
been affected as of this afternoon; Shell is one of Colonial's partners. Last week, oil prices ended higher
on Friday, as Hurricane Harvey threatened to disrupt production and refinery activity along the Gulf
Coast.
Crude oil prices were poised to gain in Asia on Monday in the aftermath of the massive hit taken to U.S.
Gulf Coast output from Hurricane Harvey and follow-on flooding inland in Texas. The U.S. West Texas
Intermediate crude October contract was last quoted up 0.10% to to $ 47.92 a barrel. Elsewhere, on the
ICE Futures Exchange in London, Brent oil for October delivery was last quoted at $ 51.98 a barrel.
Hurricane Harvey has knocked offline ~22% of Gulf of Mexico oil production, or nearly 380M bbl/pay
13. out of 1.75M, and ~26% of natural gas output, or 828M cf/day out of 3.22T, according to the U.S.
Department of the Interior’s Bureau of Safety and Environmental Enforcement. In the refining sector,
most Texas Gulf Coast refining and shipping is shut or curtailed. Exxon Mobil closed its Baytown
refinery at the Houston Ship Channel - the second largest refinery in the U.S., with production capacity of
560K bbl/day - due to severe flooding Royal Dutch Shell says its 325K bbl/day Deer Park refinery and
chemical plant complex may be shut for a week, Petrobras shut its 112K bbl/day Pasadena plant, and
Phillips 66 shut its 247K bbl/day Sweeny refinery.
Oil prices ended higher on Friday, as Hurricane Harvey threatened to disrupt production and refinery
activity along the Gulf Coast. About 25% of U.S. Gulf of Mexico oil production was offline due to storm
activity, the U.S. Department of the Interior's Bureau of Safety and Environmental Enforcement said on
Saturday. That equates to approximately 428,568 barrels of oil per day out of the roughly 1.75 million bpd
pumped from the Gulf. Around 112 platforms have been evacuated in the Gulf so far as a result of
Harvey, about 15% of those in the region. Half of the drilling rigs in the Gulf have also been evacuated,
BSEE said. Prices received additional support after an update from oilfield services firm Baker Hughes
showed its weekly count of oil rigs operating in the U.S. fell for the second time in row, by four rigs to a
total of 759. The weekly rig count is an important barometer for the drilling industry and serves as a
proxy for oil production and oil services demand. The U.S. West Texas Intermediate crude October
contract tacked on 44 cents, or around 0.9%, to end at $ 47.87 a barrel by close of trade. Elsewhere, on
the ICE Futures Exchange in London, Brent oil for October delivery advanced 37 cents, or about 0.7%, to
settle at $52.41 a barrel. The rise in oil prices on Friday failed to offset losses sustained earlier in the
week, as crude futures slipped to their fourth-straight weekly loss. New York-traded crude ended the week
down 64 cents, or nearly 1.3%, while the global Brent benchmark shed 31 cents, or roughly 0.6%. Oil
prices have been under pressure in recent weeks as concern over rising U.S. shale output canceled out
production cuts by OPEC and non-OPEC members.
Oil prices rose on Friday as the U.S. petroleum industry prepared for potential output disruptions as
Hurricane Harvey headed for the heart of the nation's oil industry in the Gulf of Mexico. The storm has
rapidly intensified since Thursday, spinning into potentially the biggest hurricane to hit the U.S. mainland
in 12 years and taking aim between Houston and Corpus Christi on the coast of Texas. West Texas
Intermediate crude futures CLc1 were at $ 47.74 a barrel at 0320 GMT, up 31 cents, or 0.7 percent, from
their last settlement. International Brent crude futures LCOc1 were at $52.39 per barrel, up 35 cents, or
0.7 percent, from their last close. Prices rose as production in the affected area shut down in preparation
for the hurricane, and on expectations that closures could last if the storm causes extensive damage.
"Damage and flooding to refineries and shale fields, disrupted production in the Gulf of Mexico and
infrastructure damage are unlikely to be bearish for WTI. U.S. gasoline prices RBc1 have shot up by
almost 10 percent since Wednesday to $ 1.73 per gallon, their highest level since April as refiners also
shut down in preparation to the storm. Beyond the storm's potential impact on the oil industry, crude
14. remains in ample supply globally despite efforts led by the Organization of the Petroleum Exporting
Countries to hold back production in order to prop up prices. OPEC, together with other producers
including Russia, has pledged to cut output by around 1.8 million barrels per day this year and during the
first quarter of 2018.
Oil prices edged lower on Thursday, after U.S. government data revealed a weekly climb in domestic
production to the highest level in over two years. An eighth consecutive weekly drop in U.S. crude
supplies helped limit losses. The U.S. West Texas Intermediate crude October contract was at $48.30 a
barrel by 3:10AM ET, down 11 cents, or around 0.2%. Elsewhere, Brent oil for October delivery on the
ICE Futures Exchange in London dipped 8 cents to $ 52.49 a barrel. Oil prices ended more than 1%
higher on Wednesday, as investors digested weekly supply data from the U.S. Energy Information
Administration. Crude oil inventories fell by 3.3 million barrels, according to the EIA figures, the eighth
weekly decline in a row. Gasoline stockpiles were down 1.2 million barrels for the week, while distillate
stockpiles remained unchanged, according to the EIA. However, domestic crude production edged up by
26,000 barrels a day to 9.528 million last week, the highest level since July 2015.
Oil prices fell on Wednesday, weighed down by concerns of oversupply as Libyan output improves and as
U.S. gasoline inventories rose despite the peak summer driving season. Brent crude futures LCOc1 , the
international benchmark for oil prices, were at $51.65 per barrel at 0655 GMT, down 22 cents, or 0.4
percent, from their last close. U.S. West Texas Intermediate crude futures CLc1 were at $47.65 a barrel,
down 18 cents, or 0.4 percent. Libya's Sharara oil field, the country's largest, was gradually restarting on
Tuesday after a shutdown, although instability in the country means that output there could be volatile,
traders said. Sharara recently reached output of 280,000 barrels per day, but closed earlier this week due
to a pipeline blockade. Its production is key to Libya's oil output, which surged above 1 million bpd in
late June, about four times its level last summer. rising output is a headache for the Organization of the
Petroleum Exporting Countries , which together with non-OPEC producers including Russia has pledged
to hold back around 1.8 million bpd of supplies between January this year and March 2018 to tighten
supplies. However, OPEC has so far fallen short of its pledge, in part due to Libya's strong output. The
OPEC-member has been exempt from cuts. towards oil remains bearish amid oversupply fears and the
possible threat of OPEC's supply cut deal falling apart.
Oil prices fell early on Wednesday, squeezed between concerns of oversupply, sparked by rising Libya
output, and fears of reduced future investment in the industry. Brent crude futures, LCOc1 the
international benchmark for oil prices, were at $51.61 per barrel at 0105 GMT, down 26 cents, or 0.5
percent, from their last close. U.S. West Texas Intermediate crude futures CLc1 were at $ 47.63 a barrel,
down 20 cents, or 0.4 percent. Bernstein Research warned that low prices and ample supplies were
resulting in low oil industry investment levels. "We see (oil and gas)...order intake activity at almost the
same low level as in 2016...For now, we remind investors that contract levels appear to still be insufficient
15. to drive recovery in earnings," Bernstein Research said.
Oil prices inched up early on Tuesday, lifted by indications that supply is gradually tightening, especially
in the United States. Brent crude futures, LCOc1 the international benchmark for oil prices, were at $
51.78 per barrel at 0026 GMT, up 12 cents from their last close. U.S. West Texas Intermediate crude
futures CLc1 were at $47.52 a barrel, up 15 cents. "U.S. crude oil stocks have been falling consistently in
recent weeks. If the downtrend in oil inventories is maintained, then a bullish case can be made for oil,
especially given the ongoing supply restrictions from OPEC and Russia," said Fawad Razaqzada, market
analyst at futures brokerage Forex.com. U.S. commercial crude inventories have fallen by almost 13
percent from their March peaks, to 466.5 million barrels. And although U.S. crude production has broken
through 9.5 million barrels per day, its highest since July 2015, analysts said this growth may soon slow
as U.S. energy firms are cutting the amount of rigs drilling for new oil. a major commodity exchange, said
that "it looks like the growth in U.S. production is quickly running out of steam and, all else being equal,
this should be good news for OPEC and the price of oil". The Organization of the Petroleum Exporting
Countries together with non-OPEC producers including Russia has pledged to hold back around 1.8
million bpd of output between January this year and March 2018 in order to tighten supplies and prop up
prices.
Oil prices fell nearly 2 percent on Monday, pulling back from last week's rally built on signs the global
market is starting to rebalance from chronic oversupply. Brent crude futures LCOc1 lost 2 percent, or
$1.07, at $51.65 a barrel as of 12:01 p.m. EDT , after surging more than 3 percent on Friday. U.S. West
Texas Intermediate crude futures CLc1 fell 1.9 percent, or 90 cents, to $ 47.63 a barrel. The contract had
also risen 3 percent in the previous session. "We are currently seeing some profit-taking after Friday's
strong rally ahead of this week's inventory data. "Fresh uncertainty about inventories and OPEC
compliance could be enough reason to sell some of the long positions." U.S. hedge funds and money
managers have already started reducing bets on rising prices, with Commodity Futures Trading
Commission data showing on Friday that investors had cut bullish bets on U.S. crude for a second straight
week. in Europe disagree on the outlook, however, as data from the InterContinental Exchange showed
speculators raised bullish Brent crude bets last week. world remains awash with oil despite a deal struck
by some of the world's biggest producers to rein in output. Rising U.S. production has been a major factor
keeping supply and demand from balancing. There are indications that U.S. output may soon slow, as
energy companies cut rigs drilling for new oil for a second week in three, energy services firm Baker
Hughes said on Friday. Drillers cut five rigs in the week to Aug. 18, decreasing the count to 763.
Commercial crude inventories have fallen almost 13 percent from their March peaks to 466.5 million
barrels.
16. BASE METAL’S OUTLOOK :
Trading Ideas: -
ALUMINIUM -
➢ Aluminium trading range for the day is 129.5-134.3.
➢ Aluminium prices dropped after LME inventories continued to rise.
➢ On-warrant stocks have gained 101,725 tonnes or 10 percent in around two weeks.
➢ Aluminium is finding support from expectations of a decline in supply as China braces for
capacity shutdowns at its smelters over the winter months.
NICKEL -
➢ Nickel trading range for the day is 712.3-755.9.
➢ Nickel dropped as prices took a breather despite news that lawmakers in the Philippines filed a bill
to ban mining in watershed areas and halt exports of unprocessed ores.
➢ Net imports of refined nickel were 19,700 tonnes in July, the highest monthly total so far this year.
➢ Existing home sales in the U.S. unexpectedly decreased in the month of July, according to a report
released by the National Association of Realtors.
ZINC -
➢ Zinc trading range for the day is 191.6-202.4.
➢ Zinc dropped tracking weakness in LME prices due to profit booking after prices seen supported
on the back of robust demand signs in China and falling stockpiles.
➢ Bulls will take heart from July’s refined metal imports of 68,000 tonnes, the highest monthly tally
since March 2016.
➢ Concentrate imports are up 26 percent at 1.46 million tonnes this year, largely because of a close
to 50 percent surge from Peru.
COPPER -
➢ Copper trading range for the day is 422.6-433.4.
➢ Copper dropped as investors locked in profits from a rally seen after driven by computer-driven
funds as inventories continued to fall.
➢ Weekly copper stocks in warehouses registered by the Shanghai Futures Exchange declined 8.2
percent to 187,444 tonnes, data showed.
➢ China’s latest trade figures on copper offered little in the way of fresh insight but rather an
extension of the twin trends of lower Chinese imports of refined metal.
17. BASE METAL
NICKEL✍ - ( 26 - AUG - 2017 )
Nickel prices declined by 0.46 per cent to Rs 751.20 per kg in futures trade today as speculators cut down
bets, driven by easing demand in the spot market. At the Multi Commodity Exchange, nickel for delivery
in September fell by Rs 3.50, or 0.46 per cent, to Rs 751.20 per kg, in a business turnover of 182 lots.
Likewise, the metal for delivery in August shed Rs 3.30, or 0.44 per cent, to Rs 747.20 per kg in 536 lots.
Analysts said offloading of positions by participants on the back of sluggish demand from alloy-makers in
the spot market, mainly weighed on nickel prices at futures trade.
LEAD✍ - ( 26 - AUG - 2017 )
Lead prices rose by 0.33 per cent to Rs 152.15 per kg in futures trade today as speculators built up
positions, driven by a firming trend at the spot market on rising demand from battery makers. At the Multi
Commodity Exchange, lead for delivery in current month was up 50 paise, or 0.33 per cent, at Rs 152.15
per kg, in a business turnover of 94 lots. According to market analysts, rising demand from battery makers
at spot markets helped lead futures trade higher.
COPPER✍ - ( 25 - AUG - 2017 )
Copper prices were trading higher by 0.36 per cent to Rs 423.05 per kg in futures trading today as
speculators raised bets. At the Multi Commodity Exchange, copper for delivery in current month spurted
by Rs 1.50, or 0.36 per cent, to Rs 423.05 per kg in a business turnover of 466 lots. Similarly, the metal
for delivery in November traded higher by Rs 1.30, or 0.30 per cent, to Rs 428.70 per kg in 10 lots.
Analysts attributed the rise in copper futures trade to raising of bets by participants following a firm trend
at the domestic spot markets on increased demand.
ALUMINIUM✍ - ( 25 - AUG - 2017 )
Aluminium prices eased further by 0.49 per cent to Rs 133.30 per kg in futures trade today as speculators
engaged in reducing their exposure amid subdued demand from consuming industries in the spot market.
At the Multi Commodity Exchange, aluminium for delivery in August shed 65 paise, or 0.49 per cent to
trade at Rs 133.30 per kg in business turnover of 697 lots. Similarly, the metal for delivery in September
contracts traded lower by 65 paise, or 0.48 per cent to Rs 134.10 per kg in 64 lots. Analysts said cutting
down of holdings by participants on the back of tepid demand from consuming industries in the physical
market mainly kept aluminium prices lower at futures trade.
18. ZINC✍ - ( 25 - AUG - 2017 )
Zinc prices were up by 0.33 per cent to Rs 199.35 per kg in futures trade today as speculators built up
positions, driven by uptick in demand in the spot market. At the Multi Commodity Exchange, zinc for
delivery in August edged up by 65 paise, or 0.33 per cent to Rs 199.35 per kg in business turnover of
1,987 lots. Likewise, the metal for delivery in September contracts was trading higher by a similar margin
to Rs 199.95 per kg in 62 lots. Analysts said fresh positions created by traders following upsurge in
demand from consuming industries in the spot market, mainly influenced zinc prices at futures trade.
ALUMINIUM✍ - ( 24 - AUG - 2017 )
Aluminium prices were trading up by 1.33 per cent to Rs 133.45 per kg in futures trade today as
speculators built up fresh positions amid pick-up in demand in the spot market.
Aluminium for delivery in September moved up by Rs 1.75, or 1.33 per cent, to Rs 133.45 per kg in a
business turnover of 292 lots at the Multi Commodity Exchange. Similarly, the metal for delivery in
August was trading higher by Rs 1.70, or 1.30 per cent, to Rs 132.75 per kg in 1,155 lots. Analysts said
fresh positions created by participants due to uptick in demand from consuming industries in the spot
market mainly led to the rise in aluminium prices at futures trade.
LEAD✍ - ( 24 - AUG - 2017 )
Lead prices edged higher by 1 per cent to Rs 151.90 per kg in futures trade today as speculators created
fresh positions supported by rising demand from battery-makers in domestic spot markets. At the Multi
Commodity Exchange, lead for delivery in August was up by Rs 1.50, or 1 per cent, to Rs 151.90 per kg
in a business turnover of 2,181 lots. Likewise, the metal for delivery in September was trading higher by
Rs 1.35, or 0.89 per cent, to Rs 152.95 per kg in 150 lots. Analysts attributed the rise in lead futures to
fresh positions built up by participants following pick-up in demand from battery-makers at domestic spot
market.
ZINC✍ - ( 23 - AUG - 2017 )
Zinc surged above $3,000 a metric ton for the first time in almost a decade while aluminum approached a
three-year high, adding momentum to a metals rally fueled by bets on tightening supplies and robust
demand. Zinc jumped as much as 5.8 per cent to $3,132.50 a ton on the London Metal Exchange, the
highest since 2007, before settling at $3,119 at 5:51 p.m. in London. Aluminum rose as much as 2.7 per
cent to the highest since September 2014, while nickel, copper and lead also advanced. The rally boosted
mining shares, with Freeport-McMoRan Inc. among the biggest gainers.
ALUMINIUM✍ - ( 22 - AUG - 2017 )
Aluminium prices were trading up by 1.33 per cent to Rs 133.45 per kg in futures trade today as
speculators built up fresh positions amid pick-up in demand in the spot market. Aluminium for delivery in
19. September moved up by Rs 1.75, or 1.33 per cent, to Rs 133.45 per kg in a business turnover of 292 lots
at the Multi Commodity Exchange. Similarly, the metal for delivery in August was trading higher by Rs
1.70, or 1.30 per cent, to Rs 132.75 per kg in 1,155 lots. Analysts said fresh positions created by
participants due to uptick in demand from consuming industries in the spot market mainly led to the rise
in aluminium prices at futures trade.
LEAD✍ - ( 22 - AUG - 2017 )
Lead prices edged higher by 1 per cent to Rs 151.90 per kg in futures trade today as speculators created
fresh positions supported by rising demand from battery-makers in domestic spot markets. At the Multi
Commodity Exchange, lead for delivery in August was up by Rs 1.50, or 1 per cent, to Rs 151.90 per kg
in a business turnover of 2,181 lots. Likewise, the metal for delivery in September was trading higher by
Rs 1.35, or 0.89 per cent, to Rs 152.95 per kg in 150 lots. Analysts attributed the rise in lead futures to
fresh positions built up by participants following pick-up in demand from battery-makers at domestic spot
market.
ZINC✍ - ( 21 - AUG - 2017 )
Zinc surged above $3,000 a metric ton for the first time in almost a decade while aluminum approached a
three-year high, adding momentum to a metals rally fueled by bets on tightening supplies and robust
demand. Zinc jumped as much as 5.8 per cent to $3,132.50 a ton on the London Metal Exchange, the
highest since 2007, before settling at $3,119 at 5:51 p.m. in London. Aluminum rose as much as 2.7 per
cent to the highest since September 2014, while nickel, copper and lead also advanced. The rally boosted
mining shares, with Freeport-McMoRan Inc. among the biggest gainers.
ALUMINIUM✍ - ( 21 - AUG - 2017 )
Aluminium prices were higher by 2.16 per cent to Rs 132.40 per kg in futures trade today as speculators
built up fresh positions, driven by pick up in demand at the spot market. At the Multi Commodity
Exchange, aluminium for delivery in September went up by Rs 2.80, or 2.16 per cent to Rs 132.40 per kg
in business turnover of 492 lots. Similarly, the metal for delivery in August was trading higher by Rs 2.75,
or 2.13 per cent to Rs 131.70 per kg in 986 lots. Analysts said fresh positions created by participants on
the back of rise in demand from consuming industries in the spot market, mainly attributed the rise in
aluminium prices at futures trade.
NCDEX - WEEKLY MARKET REVIEW
FUNDAMENTAL UPDATES OF NCDEX MARKET -
REFINED SOYA OIL✍ - ( 26 - AUG - 2017 )
Extending its rising streak for the second day, refined soya oil prices strengthened by another 0.49 per
20. cent to Rs 672.30 per 10 kg in futures trading today as speculators engaged in building up
positions,driven by rising demand in the spot market. At the National Commodity and Derivatives
Exchange, refined soya oil for delivery in October gained Rs 3.25, or 0.49 per cent to Rs 672.30 per 10 kg
with an open interest of 39,910 lots. Similarly, the oil for delivery in September contracts was trading
higher by Rs 2.65, or 0.40 per cent to Rs 663.50 per 10 kg in 47,420 lots. Analysts said expanding of
positions by traders on the back of rising demand in the spot market against restricted supplies from
producing belts mainly kept refined soya oil prices in positive terrain at futures trade.
WHEAT✍ - ( 26 - AUG - 2017 )
Wheat prices were marginally up by 0.12 per cent to Rs 1,677 per quintal in futures trade today on
speculative buying. At the National Commodity and Derivatives Exchange, wheat for delivery in October
traded marginally up by Rs 2, or 0.12 per cent to Rs 1,677 per quintal with an open interest of 1,350 lots.
However, wheat for delivery in September contracts held steady at Rs 1,655 per quintal in 15,700 lots.
Analysts attributed the marginal rise in wheat futures to raising of bet s by speculators.
CHANA✍ - ( 25 - AUG - 2017 )
Chana prices rose by 1.25 per cent to Rs 5,855 per quintal in futures trading today as traders built up fresh
positions amid uptick in demand in the spot market. At the National Commodity and Derivatives
Exchange, chana for delivery in October shot up by Rs 72, or 1.25 per cent to Rs 5,855 per quintal with
an open interest of 18,210 lots. Likewise, the commodity for delivery in September contracts traded
higher by Rs 53, or 0.90 per cent to Rs 5,912 per quintal in 21,980 lots. Analysts attributed the rise in
chana prices in futures trade to fresh positions created by participants after pick up in demand in the spot
market.
CRUDE PALM OIL✍ - ( 24 - AUG - 2017 )
Crude palm oil prices rose by 0.54 per cent to Rs 516.80 per 10 kg in futures trading today as speculators
enlarged positions on the back of rising demand in the spot market. Moreover, a tight stocks in the market
due to fall in supplies from producing belts supported the upmove. At the Multi Commodity Exchange,
crude palm oil for delivery in September went up by Rs 2.80, or 0.54 per cent to Rs 516.80 per 10 kg in
business turnover of 95 lots. Similarly, the oil for delivery in August traded higher by Rs 2.50, or 0.48 per
cent to Rs 518.50 per 10 kg in 31 lots. Marketmen said widening of positions by traders due to pick up in
demand in the spot market against restricted supplies from producing belts, mainly led to rise in crude
palm oil prices at futures trade.
MENTHA OIL✍ - ( 24 - AUG - 2017 )
Mentha oil prices drifted lower by 1.86 per cent to Rs 1,161 per kg in futures trade today as speculators
trimmed their positions, taking negative cues from spot market on fall in demand from consuming
industries. Besides, ample stock positions on higher supplies from producing regions too weighed on
21. mentha oil prices. At the Multi Commodity Exchange, mentha oil for delivery in August fell by Rs 22, or
1.86 per cent to Rs 1,161 per kg in business turnover of 385 lots. Likewise, the oil for delivery in
September contracts declined by Rs 21.80, or 1.82 per cent to Rs 1,174.10 per kg in 282 lots. Analysts
said offloading of positions by traders owing to slackened demand from consuming industries in the spot
market against adequate stocks position on increased supplies from Chandausi in Uttar Pradesh mainly
led to the fall in mentha oil prices at futures trade.
GUAR GUM✍ - ( 24 - AUG - 2017 )
Tracking a firming trend in global markets, guar gum prices flared up by Rs 67 to Rs 8,684 per quintal in
futures trade today as participants widening their positions. Marketmen said raising of bets by operators,
driven by a firming trend overseas and strong export demand lifted guar gum prices in futures trade here.
Moreover, halt in supplies in domestic markets from producing belts enthused trading sentiments, they
added. At the National Commodity and Derivative Exchange, guar gum to be delivered in far-month
November month contracts hardened by Rs 67 or 0.78 per cent to Rs 8,684 per quintal, in an open interest
of 5,185 lots. Likewise, the most-traded delivery in October month contract surged by Rs 62 or 0.73 per
cent to Rs 8,558 per quintal, persisting an open interest of 44,585 lots.
CASTOR SEED✍ - ( 24 - AUG - 2017 )
Castor seed prices dropped by Rs 20 to Rs 4,650 per quintal after traders liquidated holdings amid a weak
trend at the physical markets. Marketmen said the fall in castor seed prices in futures trade was offloading
of positions by participants amid a subdued trend at the spot markets on increased arrivals from growing
belts against muted demand from consuming industries. Besides fading export demand kept pressure on
castor seed prices here, they added. At the National Commodity and Derivative Exchange, castor seed for
delivery in September contracts slipped by Rs 20 or 0.43 per cent to Rs 4,650 per quintal, having an open
interest of 69,330 lots. In a similar way, the delivery for the October contract eased by Rs 19 or 0.40 per
cent to Rs 4,749 per quintal, with the business turnover of 31,790 lots.
CHANA✍ - ( 24 - AUG - 2017 )
Continuing its rising streak for the second day, chana prices shot up by another 1.59 per cent to Rs 5,759
per quintal in futures trade today as participants engaged in enlarging their positions, tracking a firm trend
at spot market on rising demand. Besides, tight stocks position on fall in supplies from producing regions
and enquiries from dal mills fuelled the uptrend. At the National Commodity and Derivatives Exchange,
chana for delivery in September month jumped up by Rs 90, or 1.59 per cent, to Rs 5,759 per quintal with
an open interest of 18,690 lots. In a similar fashion, the commodity for delivery in October gained Rs 86,
or 1.54 per cent, to Rs 5,668 per quintal in 14,170 lots. Analysts said expanding of positions by traders,
driven by strong demand in the physical markets against tight stocks position on decline in arrivals from
producing belts mainly kept chana prices higher at futures trade.
22. CRUDE PALM OIL✍ - ( 23 - AUG - 2017 )
Amid pick up in domestic demand at the spot market, restricted supplies from producing belts, crude palm
oil prices went up by 0.91 per cent to Rs 519 per 10 kg in futures trade today as speculators created fresh
positions. At the Multi Commodity Exchange, crude palm oil for delivery in September rose by Rs 4.70,
or 0.91 per cent to Rs 519 per 10 kg in business turnover of 165 lots. Similarly, the oil for delivery in
August contracts was trading higher by Rs 4.20, or 0.82 per cent to Rs 519 per 10 kg in 97 lots. Analysts
said fresh positions built up by participants following pick up in demand in the physical markets against
restricted arrivals from growing regions , mainly led to the rise in crude palm oil prices at futures trade.
MENTHA OIL✍ - ( 23 - AUG - 2017 )
Mentha oil prices fell by 0.97 per cent to Rs 1,172 per kg in futures trade today as speculators trimmed
their positions, taking negative cues from spot market on easing demand from industries. Besides, ample
stock positions on higher supplies from producing regions too weighed on mentha oil prices. At the Multi
Commodity Exchange, mentha oil for delivery in August declined by Rs 11.50, or 0.97 per cent to Rs
1,172 per kg in business turnover of 321 lots. Likewise, the oil for delivery in September contracts shed
Rs 11.30, or 0.94 per cent to Rs 1,184.50 per kg in 165 lots. Analysts said cutting down of positions by
participants owing to slackened demand from consuming industries in the spot market against ample
stock positions on higher supplies from Chandausi in Uttar Pradesh mainly led to the fall in mentha oil
prices in futures trade.
REFINED SOYA OIL✍ - ( 23 - AUG - 2017 )
Rising for the second day, refined soya oil prices advanced by 0.46 per cent to Rs 671.45 per 10 kg in
futures trading today as speculators engaged in building up positions, taking positive cues from spot
market on strong demand. At the National Commodity and Derivatives Exchange, refined soya oil for
delivery in October month rose by Rs 3.10, or 0.46 per cent, to Rs 671.45 per 10 kg with an open interest
of 30,420 lots. Likewise, the oil for delivery in September contracts was trading higher by Rs 2.40, or
0.36 per cent, to Rs 661.50 per 10 kg in 50,200 lots. Analysts said widening of positions by traders,
tracking a firm trend at spot market on rising demand against restricted arrivals from producing regions,
mainly kept refined soya oil prices higher at futures trade.
REFINED SOYA OIL✍ - ( 22 - AUG - 2017 )
Refined soya oil prices edged up by 0.23 per cent to Rs 667.55 per 10 kg in futures trading today as
speculators created fresh positions supported by pick up in demand. Besides, tight stocks position on fall
in supplies from producing regions fuelled the uptrend. Besides, tight stocks position on fall in supplies
from producing regions fuelled the uptrend. At the National Commodity and Derivatives Exchange,
refined soya oil for delivery in October rose Rs 1.55, or 0.23 per cent, to Rs 667.55 per 10 kg with an
open interest of 26,200 lots. On similar lines, the oil for delivery in September edged up by 90 paise, or
23. 0.14 per cent, to Rs 657.75 per 10 kg in 48,710 lots. Analysts said fresh positions created by traders
following upsurge in demand in the physical market against restricted arrivals from producing regions,
mainly led to the rise in refined soya oil prices at futures trade.
CRUDE PALM OIL✍ - ( 22 - AUG - 2017 )
Crude palm oil prices weakened by 0.06 per cent to Rs 509.40 per 10 kg in futures market today as traders
reduced exposure amid subdued demand in the spot market. Besides, ample stocks position following
higher supplies from producing belts fuelled the downtrend. At the Multi Commodity Exchange, crude
palm oil for delivery in August shed 30 paise, or 0.06 per cent, to Rs 509.40 per 10 kg in a business
turnover of 55 lots. On similar lines, the oil for delivery in September was trading lower by 20 paise, or
0.04 per cent, to Rs 511.30 per 10 kg in 53 lots. Analysts said offloading of positions by speculators
owing to slackened demand in the spot market against ample stocks position mainly weighed on crude
palm oil prices.
MUSTARD SEED✍ - ( 22 - AUG - 2017 )
Mustard seed prices were higher by Rs 13 to Rs 3,800 per quintal in futures trade today as traders raised
their bets in tune with rising demand in spot markets. According to marketmen, widening of holdings by
speculators back up by strong demand in the spot markets, that influenced mustard seed prices in futures
trade. At the National Commodity and Derivative Exchange, mustard seed prices rose by Rs 13 or 0.34
per cent to Rs 3,800 per quintal, with the business turnover of 57,120 open lots. Likewise, the delivery for
the October contract rose by a similar margin to trade at Rs 3,843 per quintal, open interest stood at
11,280 lots.
GUAR GUM✍ - ( 21 - AUG - 2017 )
Guar gum prices soared by Rs 188 to Rs 8,365 per quintal in futures trade today following widening of
holdings by operators, due to upbeat cues in the spot and overseas. Market players said the rise in guar
gum prices in futures trade was mostly supported by a firm trend at the spot markets, sparked by robust
spot and overseas demand amid halt in arrivals from producing belts. At the National Commodity and
Derivatives Exchange, guar gum for delivery in October flared up by Rs 188, or 2.30 per cent, to Rs 8,365
per quintal, having an open interest of 43,625 lots. The delivery for the November too spurted by Rs 182,
or 2.19 per cent, to Rs 8,485 per quintal, with an open interest of 4,075 lots.
CRUDE PALM OIL✍ - ( 21 - AUG - 2017 )
Crude palm oil prices drifted lower by 0.66 per cent to Rs 494.70 per 10 kg in futures trade today as
traders booked profits amid easing demand at the spot market. Besides, sufficient stocks position
following higher supplies from the producing belts too fuelled the downtrend. At the Multi Commodity
Exchange, crude palm oil for delivery in August declined by Rs 3.30, or 0.66 per cent to Rs 494.70 per 10
kg in business turnover of 107 lots. Likewise, the oil for delivery in September contracts was trading
24. lower by Rs 3.20, or 0.64 per cent to Rs 496.40 per 10 kg in 82 lots. Analysts said besides profit-booking
by speculators at prevailing higher levels, fall in demand at the spot market against ample stocks position
mainly weighed on crude palm oil prices.
CHANA✍ - ( 21 - AUG - 2017 )
Chana prices fell by 1.19 per cent to Rs 5,470 per quintal in futures trade today as speculators booked
profits amid fall in demand in the spot market. In futures trading at the Multi Commodity Exchange,
crude palm oil for delivery in September fell by Rs 66, or 1.19 per cent to Rs 5,470 per quintal with an
open interest of 16,880 lots. Likewise, the oil for delivery in October declined by Rs 48, or 0.88 per cent
to Rs 5,382 in 13,350 lots. Analysts said besides profit-booking by participants at prevailing higher levels,
easing demand at the spot market against ample stocks position mainly weighed on chana prices at futures
trade.
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