Monday, 19 September 2016

Indian Commodity Market to Get Options Only in Two Products Initially

Indian Commodity market participants expecting big bang reforms from market regulator Sebi might be in for some disappointment. The commodity derivatives advisory committee (CDAC), at its July 22 meeting with Sebi officials, has proposed introduction of just two options in commodities --one agri and one non-farm.

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Participants and brokers were expecting the launch of four -- gold, silver, guar and soyabean oil. Currently, only futures trading is allowed on commodity exchanges like MCX, NCDEX and NMCE. Crude has been dogged by a stubborn supply glut since late 2014, with prices hitting near 13-year lows at the start of this year. A previous attempt at a deal in April fell apart when Iran, which had just emerged from years of Western nuclear-linked sanctions, refused to take part.

Oil prices up on Libya unrest, hopes for output deal :- Key crude states are due to meet in Algeria next week to discuss the global supply crisis and overproduction that has hammered prices for two years. Oil prices edged up in Asia today as OPEC member Venezuela indicated a deal to limit output is close while fighting in Libya stopped it kick starting exports, but gains were limited by ongoing worries about a supply glut.

Friday, 16 September 2016

Today Indian Commodity Market Updates ; कच्चे तेल में गिरावट बढ़ी, क्या करें

कच्चे तेल में गिरावट बढ़ गई है। घरेलू बाजार में दाम 1 फीसदी गिर गया है। लीबिया और नाइजीरिया से सप्लाई बढ़ने के अनुमान से कीमतों पर दबाव बना हुआ है। आज अमेरिका में रिग काउंट के आंकड़े भी जारी होंगे इस पर भी बाजार की नजर है। सोना भी दबाव में है। पिछले महीने भारत में सोने का इंपोर्ट करीब 70 फीसदी गिर गया है। लगातार 7वें हफ्ते इंपोर्ट में गिरावट देखी गई है। 

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वहीं गोल्ड ईटीएफ की होल्डिंग भी लगातार गिर रही है। चांदी में भी 0.5 फीसदी नीचे कारोबार हो रहा है। हालाकि बेस मेटल्स में भारी उठापटक हो रही है। कॉपर 3 हफ़्ते की ऊंचाई पर आ गया है। निकेल भी हल्का मजबूत है लेकिन इस हफ्ते में करीब 6 फीसदी की गिरावट दर्ज हुई है। लेड और जिंक में भी दबाव है। लेकिन कल की गिरावट के बाद आज रुपये में रिकवरी है।

एग्री कमोडिटी पर नजर डालें तो मसाले एक्शन में हैं। जीरे में करीब 1 फीसदी की तेजी आई है लेकिन हल्दी में दबाव है। वहीं खाने के तेलों में आज तेजी का रुख है। दरअसल  सोयाबीन और सरसों में आज करीब 0.5 से 1 फीसदी की तेजी आई है इसी का असर खाने के तेलों पर पड़ा है। आपको ये भी बता दें कि गेहूं पर सरकार इंपोर्ट ड्यूटी नहीं घटाएगी। 

वहीं अच्छी बारिश और बुआई बढ़ने से सरकार को इस साल देश में रिकॉर्ड अनाज पैदा होने का अनुमान है। कृषि मंत्री राधामोहन सिंह ने कहा कि बारिश से कमोबेश सभी इलाकों में खरीफ की अच्छी बुआई हुई है और रबी की बुआई भी बढ़ने का अनुमान है। ऐसे में रिकॉर्ड पैदावार की संभावना बढ़ गई है। सरकार ने इस साल के लिए 27 करोड़ टन अनाज पैदावार का टार्गेट दिया है।

Monday, 12 September 2016

Today Commodity Market Updates ; Crude Oil Futures Edge Lower

Crude oil futures edge lower on weak Asian cues :-
Crude oil futures edged lower on MCX as speculators exited their position amid a weak trend in the Asian markets where oil prices tumbled again on a pick-up in drilling and a strong dollar as speculation swirled that the Federal Reserve could hike interest rates as soon as this month. 

Read more Live Commodity Gold/Silver Market News at: www.marketmagnify.com/freetrial.php or Get Free Trials Just Give One Missed Call @78-79-88-11-22.
The contract for September delivery was trading at Rs 3021.00, down by 1.92% or Rs 59.00 from its previous closing of Rs 3080.00. The open interest of the contract stood at 19859 lots.The contract for October delivery was trading at Rs 3076.00, down by 1.85% or Rs 58.00 from its previous closing of Rs 3134.00. The open interest of the contract stood at 2625 lots on MCX.

Copper futures trade lower on MCX :-
Copper futures traded lower on MCX as speculators indulged in reducing their positions, driven by lower demand from consuming industries at the spot market. Further, weak trend in the base metals pack at the London Metal Exchange (LME) too fuelled the downtrend. 
The contract for November delivery was trading at Rs 311.40, down by 0.72% or Rs 2.25 from its previous closing of Rs 313.65. The open interest of the contract stood at 39631.00 lots.

Saturday, 10 September 2016

Upcoming Commodity Market Updates ; Gold, Silver Utensils Imports at Nominal Duty

In a notification on Thursday, the Central Board of Excise and Customs imposed a 12.5 per cent countervailing duty on all articles made of gold and silver which are imported from countries with which there is a free trade agreement or a comprehensive trade treaty. 

For more Latest Live Indian Commodity Market News and free bullion trading tips just click here www.marketmagnify.com/freetrial.php or give a One Missed Call @787-988-1122. 

This level of duty had been imposed in this year's Union Budget but it appears utensils made of gold or silver were being imported on payment of only one per cent duty from such countries, due to an ambiguity in the understanding the rule.In August, 300 kg of such utensils were said to have been imported. 

The new notification says any alloy in which the gold content is not less than 37.5 per cent by weight is covered.Harish Acharya, secretary, Bullion Federation, said: "The notification will stop trade distorting practices by some importers."

Thursday, 8 September 2016

Live Commodity News: Gold & Copper



Gold futures edged higher on MCX on a weaker dollar, with
investors looking to the outcome of a European Central Bank policy meeting later in the day for signs of economic stimulus.

The contract for October delivery was trading at Rs 31375.00, up by 0.22% or Rs 70.00 from its previous closing of Rs 31305.00.The open interest of the contract stood at 8984.00 lots.

Read more Live Commodity Gold/Silver Market News at: www.marketmagnify.com/freetrial.php or Get Free Trials Just Give One Missed Call @78-79-88-11-22.


Copper futures traded lower on MCX as investors stayed on the sidelines ahead of the ECB policy meet later in the session with hopes that the Frankfurt-based central bank may boost QE as it cuts growth forecasts for the Euro area. Meanwhile, a mixed bag of Chinese trade data signaled uncertainty over the demand outlook for copper from the world’s biggest metals consuming nation as Chinese exports fell 2.8 percent, year-on-year in August 2016 but imports climbed 1.5 percent.

 

Wednesday, 7 September 2016

Latest Commodity Market News ; Gold Futures Rise 0.18% on Global Cues

At the Multi Commodity Exchange, gold for delivery in December rose by Rs 58 or 0.18 per cent to Rs 31,581 per ten grams in business turnover of one lot. Gold futures edged marginally lower on MCX despite surprisingly weak US service sector data reinforced expectations the Federal Reserve will hold off on raising rates in September.

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Tracking a firm trend overseas, gold traded higher by 0.18 per cent to Rs 31,581 per 10 grams in futures market today as traders enlarged positions. At the Multi Commodity Exchange, gold for delivery in December rose by Rs 58 or 0.18 per cent to Rs 31,581 per ten grams in business turnover of one lot. Similarly, the yellow metal for delivery in October contracts traded higher by Rs 56 or 0.18 per cent to Rs 31,434 per ten grams in 152 lots.

Copper futures edge higher on MCX :-
Copper futures edged higher on MCX as disappointing US economic data pushed the dollar lower, spurring demand for commodities. The contract for November delivery was trading at Rs 314.25, up by 1.03% or Rs 3.20 from its previous closing of Rs 311.05. The open interest of the contract stood at 35881.00 lots.

Tuesday, 6 September 2016

Today Commodity Market Updates ; Crude Oil Futures Trade Higher on MCX

Crude oil futures traded higher on MCX as investors and speculators booked fresh positions in the energy commodity after Saudi Arabia and Russia, two of the world’s top oil producers, agreed to establish a working group to monitor the oil market and formulate recommendations to promote stability. 

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Energy Ministers from the two countries are set to meet in Algeria in October and Vienna in November to hold discussions on how to cooperate under this new pact, with an output freeze remaining a favorable option. The news comes as some relief to energy traders, easing fears of a supply glut in the fuel.
The contract for September delivery was trading at Rs 3005.00, up by 0.81% or Rs 24.00 from its previous closing of Rs 2981.00. The open interest of the contract stood at 24788 lots.

Copper futures trade higher on MCX :-
Copper futures traded higher on MCX as investors booked fresh positions in the industrial metal as signs of a pickup in the economy of China, the world’s biggest metals consuming nation, bolstered demand prospects.
The contract for November delivery was trading at Rs 312.00, up by 0.31% or Rs 0.95 from its previous closing of Rs 311.05. The open interest of the contract stood at 36240.00 lots.