Tuesday, 28 October 2014

Latest News on Natural Gas and Oil

Oil prices are trading lower today on abundant supply and lackluster demand despite a pick-up in global economic growth. Saudi Arabia has previously sent signals it is comfortable with lower oil prices and willing to maintain high supply levels to compete for market share. Kuwait's oil minister has said there is no negative effect on the country's development plan from lower oil prices. 

Global oil supply remains high despite disruption in producers such as Iraq and Libya. On the MCX, crude prices are trading higher by around 0.34 percent at Rs.4985/bbl.

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MCX Commodity Copper Price

Copper prices are trading higher by 0.2 percent ahead of favorable Pending Home Sales data from the US due tonight. Also, weakness in the DX acted as a positive factor. However, weak German Ifo Business Climate data restricted sharp upside in prices. MCX copper prices rose by 0.4 percent at Rs.414.10/kg owing to Rupee depreciation.

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MCX Gold and Silver Price Today

Gold could witness consolidation as investors wait for cues from the FOMC meeting, due Wednesday. Economists are expecting the Fed to end QE3. Comex December support is at 1217.0. Key resistance is at 1233.1. MCX Gold could track overseas prices. MCX support is at 26950. Resistance is at 27275. 

Silver could trade range bound. December support is at 17.07. Resistance is at 17.52. MCX Silver could track overseas prices. Key support is at 36821. Resistance is at 38587.

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Monday, 20 October 2014

Latest News on Natural Gas and Oil

Oil prices in the international markets declined by 3.58 percent and closed at $82.75/bbl. On the MCX, crude prices declined by 3.58 percent taking cues from weak international markets and closed at Rs.5095/bbl.

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MCX Commodity Copper Price

LME Copper prices plunged by 1.6 percent last week to their lowest levels in six months as signs of muted inflation signaled lower metal demand in the two biggest consumers, China and the US. Further, whopping gain of 5.3 percent in LME copper stocks acted as a negative factor

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MCX Gold and Silver Price Today

Spot gold prices gained by 1.2 percent and closed at $1237.69/oz. On the MCX, gold prices gained by 1.08 percent and closed at Rs.27256/10gms

MCX, silver prices declined by 0.29 percent taking cues from weak international markets and closed at Rs.38399/kg.

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Thursday, 16 October 2014

Latest News on Natural Gas and Oil


Crude oil prices decline on Wednesday extending a run of losses on concerns over weak oil demand as equity markets tumbled and economic gloom spread. U.S. crude oil stocks rose far more than expected last week as refineries cut output, while gasoline and distillate inventories declined data from industry group the American Petroleum Institute showed on Wednesday.

U.S. natural gas futures edged lower on Wednesday on forecasts for weak heating demand over the next two weeks and expectations the government will report another bigger-than-normal storage build for last week.

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MCX Commodity Copper Price


LME Copper prices plunged by 2.6 percent yesterday as signs of muted inflation signaled lower metal demand in the two biggest consumers, China and the US. Also, jump of 1.9 percent in LME stocks acted as a negative factor.

In the Indian markets, copper prices jumped by 1.7 percent due to Rupee depreciation and closed at Rs.421.6/kg on Tuesday.

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MCX Gold and Silver Price Today

Spot gold prices gained on Wednesday on decline in global equities followed by disappointing economic data from the US, sparking economic fears and lifting gold’s safe haven appeal. 

Spot silver prices declined by 0.1 percent on Wednesday diverging from gains in gold prices. Decline in the base metals pack also exerted downside pressure on prices.

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Monday, 13 October 2014

Latest News on Natural Gas and Oil

On the MCX, crude prices declined by around 5 percent taking cues from weak international markets and closed at Rs.5284/bbl.

U.S. natural gas futures were a bit higher early on Friday despite forecasts for continued moderate weather over the next two weeks In the last week gas prices on the NYMEX declined by 4.46 percent while MCX gas prices also declined by around 5.33 percent.

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MCX Commodity Copper Price

In the Indian markets, copper prices rose by 0.2 percent but sharp gains were restricted due to Rupee appreciation and closed at Rs.414.4/kg on Friday.

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MCX Gold and Silver Price Today

Spot gold prices gained by 2.71 percent and closed at $1222.98/oz. On the MCX, gold prices gained marginally by around 0.28 percent and closed at Rs.26964/10gms.

Spot silver prices in the international markets gained by 3.21 percent and closed at $17.34/oz. On the MCX, silver prices gained 1.65 percent taking cues from strength in international markets and closed at Rs.38512/kg.

Friday, 10 October 2014

Latest News on Natural Gas and Oil

Brent crude prices rose by 0.2 percent and WTI crude prices declined by around 1.8 percent as Europe's worsening outlook and surging oil inventories hammered energy markets. Concerns about world economies sent U.S. and other stock markets lower, reversing a rally from a day ago sparked by the Federal Reserve's caution about raising interest rates soon.

On the MCX, crude prices declined by 2.2 percent taking cues from weak 
international markets and closed at Rs.5264/bbl.

Natural gas futures declined by 0.7 percent on Thursday as forecasts for weak heating demand over the next two weeks offset a slightly smaller-than-expected storage build.

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MCX Commodity Copper Price

In the Indian markets, copper prices rose by 0.2 percent but sharp gains were restricted due to Rupee appreciation and closed at Rs.413/kg in the last session.

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MCX Gold and Silver Price Today

Spot gold prices rose to a two week high on Thursday as safe haven buying  increased after U.S. equities tumbled on concerns over the pace of economic growth.

On the MCX, gold prices rose by around 0.8 percent and closed at Rs.26958/10 gms.

Spot silver prices declined by 0.2 percent diverging from gains in gold prices. Strength in the dollar index also acted as a negative factor.

On the MCX, silver prices rose by 1.04 percent and closed at Rs.38615/kg.

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Tuesday, 7 October 2014

Latest News on Natural Gas and Oil

MCX Crude oil Oct as seen in the weekly chart above has opened the week at 5,764 levels and as expected priced had rallied sharply towards the weekly high of 5,885 levels. In the mid of the week prices could not able to sustain on the resistance zone of 5,880 – 5,900 levels and corrected sharply towards the weekly low of 5,560 levels. In the week prices closed below the previous week’s closing of 5,775 levels and finally, closed 3.72% lower at 5,560 levels.

MCX Natural Gas Oct. as seen in the weekly chart above has opened the week at 248.10 levels and as expected in the starting of the week prices had rallied sharply towards the weekly high of 259.30 levels. In the mid of the week prices could  not able to sustain on the resistance zone of 259 – 260 levels and corrected towards the weekly low of 244.60 levels. In the week prices have closed above the previous week’s closing of 248 levels and finally closed 0.52% higher at 249.30 levels.

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MCX Commodity Copper Price of The Week

MCX Copper Nov. as seen in the weekly chart above has opened the week at 416.50 levels and made a high of 422 levels. As expected prices could not able to sustain on higher levels and corrected sharply and made a weekly low of 411.75 levels. In the week price closed below the previous week’s closing of 416.30 levels and finally closed 0.68% lower at 413.45 levels.

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MCX Gold and Silver Price in This Week

MCX Gold Dec. as seen in the weekly chart above has opened the week with gap up at 26,902 levels and it made a high of 27,169 levels. In the week as expected prices could not able to sustain on higher levels and sharply corrected towards the weekly low of 26,506 levels. In this week prices closed below the previous week’s closing of 26,855 levels and finally closed 1.20% lower at 26,534 levels.

Silver Dec. as seen in the weekly chart above has opened the week with gap down at 39,100 levels and in the week it made a high of 39,478 levels. As expected prices could not able to sustain on the higher levels and corrected sharply toward the new contract low of 37,211 levels. In this week prices closed below the previous week’s closing of 39,169 levels and finally closed 3.27% lower at 37,888 levels.

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