Wednesday, 29 April 2015

Gold and Silver Report By Marketmagnify

Gold
Spot gold prices rose by 0.84 percent on Tuesday to close at $1211.6/oz after disappointing U.S. data led to the weakness in dollar and dampened expectations that the Federal Reserve will hint at this week's policy meeting at an interest rate hike in coming months.

On the MCX, gold prices rose by 0.4 percent to close at Rs.27190/10 gms.

Silver
Spot silver prices rose by 1.3 percent on Tuesday to close at $16.6/oz. Rise in gold prices, weak dollar and speculative buying lifted silver prices in yesterday’s trade.

On the MCX, silver prices rose by 1.02 percent and closed at Rs.37527/kg.

Daily Crude Oil Updates

Crude Oil
Crude oil prices rose marginally on Tuesday with WTI and Brent gaining by 0.1 and 0.4 percent respectively. After an early rally, selling pressure grew as investors worried about record high U.S. stockpiles. After the market closed, the American Petroleum Institute (API), an industry group, reported that U.S. crude inventories rose to a record high for the 16th straight week.

On the MCX, oil prices rose by 0.4 percent to close at Rs.3626/bbl.

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Metals News and Report for Today

Base metals on the LME apart from Copper and Aluminium traded lower yesterday as concerns regarding demand from China exerted pressure on prices. However, weakness in the DX following weak consumer confidence data from the US restricted sharp downside.

MCX copper prices fell by 0.2 percent and closed at Rs.387/kg on Tuesday owing to Rupee appreciation.

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Tuesday, 28 April 2015

Gold and Silver Report By Marketmagnify

Gold gains bolstered by weak dollar and short-covering on rising expectations Fed will not hint at a June rate hike at its policy meeting this week.

Gold trading range for the day is 26547-27403.

Silver prices ended with heavy gains supported by the gold market. Investors will watch the Federal Reserve's policy statement on Wednesday for clues on the timing of a U.S. rate increase.

Silver trading range for the day is 35522-38136.

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Daily Crude Oil Updates

Crude oil fell after Saudi Arabia signalled that it will keep producing crude oil, adding to surplus concerns.

Crudeoil trading range for the day is 3543-3727.

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Metals News and Report for Today

Copper rose amid speculation policymakers in China will have to introduce further stimulus measures to jumpstart the economy.

Copper trading range for the day is 383.4-391.8.

Zinc rose supported by a weaker dollar and expectations that China may adopt fresh measures to shore up its struggling manufacturing sector.

Zinc trading range for the day is 142.1-148.7.

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Friday, 24 April 2015

Precious Metals Gold Silver Update

Gold prices rose as the dollar retreated on weaker-than-expected U.S. economic data.

Silver gained after data showed the number of Americans filing new claims for unemployment aid edged up last week for a third straight week.

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Commodity Market Crude Oil and Natural Gas

Crude oil gained after renewed air strikes in Yemen stoked concerns about the security of Middle East oil shipments.

Natural gas prices dropped after data showed that U.S. gas inventories rose more than expected last week, sparking fears over a drop in demand for fuel.

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Metals Insight Report By Marketmagnify

Zinc rebounded to the highest in about five months amid concerns of a supply slowdown later this year.

Nickel prices gained as support seen due to falling dollar after prices seen pulled back earlier by the disappointing Spices HSBC’s China PMI data.

Copper has been consolidating, as unexpected supply disruptions spurred analysts to cut their 2015 surplus forecasts.

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Thursday, 23 April 2015

Precious Metals Gold Silver Update

Gold at Comex for active Jun contract closed near $1185 whereas Indian MCX gold for same months settlement turned lower by 1.15% to Rs 26625 per 10 gms.

Silver May expiry contract at MCX also finished on the weaker side by 1% to Rs 35790 per Kg. 

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Commodity Market Crude Oil and Natural Gas

Crude oil was expected to record good amount of volatility while we advised selling for most of Asian and European session and that worked fine as per the view. 

June month contract at ICE platform added to $62.75 up by 1.1% whereas same months expiry crude slipped 0.8% to $56.15 per barrel. 

Natural gas continued with the volatile trade while added moderate weight for another day rising to $2.60 per MMBTU mark

We had a ranged view in the commodity yesterday as markets continue to weigh lower demand from retail and commercial consumers while anticipation of increasing usage from power sector and utilities support the commodity.

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Metals Insight Report By Marketmagnify

Aluminum slipped in the negative zone yesterday, declining by around 0.55% and settled at $1806 MT from its previous close. On the fundamental note, the cancelled warrants for the metal declined massively by 51,700 MT indicating the lack of immediate demand for the metal whereas the backwardation for the metal at LME declined to $14.5 MT, a relief for the financiers, giving mixed cues for the metal.

Nickel closed flat yesterday at $12675 MT as the updates from INSG showed that it expected the global demand for the metal to rise to 1.94 Mln MT compared to 1.87 million in 2014 whereas the global output is expected to shrink down to 1.96 Mln MT in 2015 versus 1.99 million in 2014.

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Wednesday, 22 April 2015

Precious Metals Gold Silver Update

Gold settled up by 0.37% at 26936 gained on its safe haven appeal as investors remained concerned over Greece's financial health with no indication of any agreement with Athens on the economic reforms sought by the European Union to unlock the bailout aid. Also on focus is the April 28-29 Federal Reserve policy meet, which is expected to provide some hints as to the timing of the Fed's imminent rate hike.


Silver settled up by 0.23% at 36157 managed to hold support at 36k edged up on Tuesday reversing some of its losses during the previous session, as a potential Greek default on its sovereign debt remained in focus. On Monday, Silver plummeted on mounting Greek concerns, before slightly rebounding in U.S. afternoon trading

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Commodity Market Crude Oil

Crude Oil settled down by -2.12% at 3593 as tensions eased in the Middle East after Saudi Arabian-led forces stopped bombing Yemen and on views that US crude oil inventories lifted last week. Yemen is not considered one of the major crude exporters in the region, it is strategically located on the Bab el-Mandeb strait one of the world's largest chokepoints of oil.

Metals Insight Report By Marketmagnify

Copper settled down by -1.67% at 374.55 amid the Chinese policymakers speculation to impulse the economic growth. Last week, Chinese authorities surprisingly announced that the amount of minimum deposits banks are required to hold are lowered to 18.5% from 19.5%.

Zinc settled up by 0.72% at 138.95 as China stepping up stimulus boosted the demand outlook in the biggest consumer. The market lacked solid macroeconomic news overnight. Earnings reports from US companies were mixed. Greek crisis overshadowed the market. ZEW’s April economic climate index for Germany was 53.3, falling short of market expectations.

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Friday, 17 April 2015

Live Gold Silver Rate in Commodity Market

Gold steadied around $1,200 an ounce on Thursday, paring losses as the U.S. dollar extended its losses, while weak demand for physical metal added pressure and uncertainty over the timing of a Federal Reserve rate hike underpinned prices.

Silver was up 0.06 percent at $16.30 an ounce. U.S. housing starts rose far less than expected in March and permits recorded their biggest drop since last May, which could raise concerns about the economy's ability to bounce back from a soft patch hit in the first quarter.

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Commodity Market Tips for Energy

Crude oil prices jumped to fresh 2015 peaks on Thursday, turning higher on news that a tribal group made up of former Al Qaeda militants took control of a major southern oil terminal in Yemen.

The terminal is one of the major hubs for the Hadramout region exporting an average of 120,000 to 140,000 barrels per day (bpd) of crude from fields in the area.

U.S. natural gas futures ended up 2.8 percent on Thursday as traders shrugged off a bigger-than-expected storage build on short-covering. The U.S. Energy Information Administration said utilities added 63 billion cubic feet (bcf) of gas into storage during the week ended April 10, topping analysts estimates for a build of 53 bcf in a Reuters poll.

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Latest News on Base Metals

Copper notched up its strongest gain in four weeks on Thursday on a rally in Chinese stocks and hopes for more stimulus to boost the economy of the world's top metals consumer.

Lead and zinc touched four-month peaks as funds kept up their buying spree on concern of shortages that has sent lead prices surging a fifth over the past month.

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Thursday, 16 April 2015

Live Gold Silver Rate in Commodity Market

Gold saw good amount of volatility though finally ended the week little changed near $1205 per ounce. Weaker US Jobs report reading in early April raised speculation that US Fed would remain pretty slow on interest rates, adding value for gold.

Comex Jun expiry gold added 0.75% to $1201 per ounce, just closing at its intraday resis zone.

Silver which is largely seen a lagging commodity as equated to Gold is expected to continue follow the broader direction placed by the former in the coming week as well.

Silver samne months settlement contract at MCX too added 0.7% to Rs 36580 per Kg.

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Commodity Market Tips for Energy

WTI crude jumped 5.8 % last day as stocks rose less than expected Brent for now active June expiry contract gained 5.85% to $63.32 per barrel.

NG May expiry contract at NYMEX gained over 3% to $2.61 per MMMBTU whereas Indian MCX NG for April expiry too moved higher by 3.75% to Rs 163 per MMBTU.

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Latest News on Base Metals

Aluminum surprisingly became the icing on the cake posting gains of around 1.29% and closed at $1812 MT from its previous close. 

Copper managed to remain steady and in fact closed on a greener note at $5955 MT, up by around 0.17% from its previous close.

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Wednesday, 15 April 2015

Live Gold Silver Rate in Commodity Market

Gold settled down -0.58% at 26544 as Comex Gold remained under $1200 mark and settled at 1192.60 as the dollar consolidated recent gains against the beleaguered Euro. More than a month after the ECB announced unprecedented stimulus, the Euro continues to move toward parity with the U.S. dollar, a collapse that has weighed on dollar-denominated commodities such as gold.

Gold trading range for the day is 26283-26753.

Silver settled down -0.64% at 36325 fell slightly on Tuesday as metal investors locked in profits, in spite of a weaker dollar pushed down by mixed U.S. economic data. A host of economic data released on Tuesday, US retail sales for March rose 0.9% for the month, marking its first monthly in more than three months.

Silver trading range for the day is 35595-36935.

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Commodity Market Tips for Energy

Crudeoil settled up 2.11% at 3342 edged higher amid signs that U.S. shale producers are scaling back production, Crude oil was up 55 cents at $52.42 a barrel, staying well away from a 6-year low near $44 set earlier in 2015.

Crudeoil trading range for the day is 3226-3412.

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Latest News on Base Metals

Copper settled down -0.83% at 372.50 prices fell to a three-week low on Tuesday, as investors looked ahead to first quarter GDP data from China on Wednesday, which could show the pace of growth in the world's second largest economy has slowed further.

Copper trading range for the day is 366.3-378.1.

Zinc settled down -0.36% at 136.80 after a chart-based rally was cut short against a backdrop of growing doubts over the outlook for demand in top user China. LME zinc prices fell on depressed market sentiment yesterday.

Zinc trading range for the day is 135.4-137.6.

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Monday, 13 April 2015

Live Gold Silver Rate in Commodity Market

Gold
Spot gold prices traded sideways to higher for most of the last week as markets watched for cues from US economic data.

In the international markets, spot gold prices rose marginally by 0.48 percent last week and closed at $1207.65/oz. On the MCX, gold prices rose by around 1.2 percent last week and closed at Rs.26925/10 gms.

Silver
Last week, spot silver prices in the international markets traded lower in contrary to the rise in gold prices. Strengthening dollar and weakness in Nickel prices further exerted downside pressure on prices.

Spot silver prices in the international markets declined by 1.68 percent and closed at $16.40/oz. On the MCX, silver prices declined by 1.7 percent and closed at Rs.36713/kg.

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Commodity Market Tips for Energy

Crude Oil
NYMEX Oil prices traded higher last week in a volatile session as markets watched Iran ease of sanctions closely.

Oil prices in the international markets rose by 5.2 percent and closed at $51.7/bbl. On the MCX, crude prices rose by 6 percent and closed at Rs.3220/bbl.

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Latest News on Base Metals

On the MCX, base metals traded on a positive note except Aluminium and Nickel in line with international trends.

Copper
LME Copper prices rose by 0.4 percent last week as a disruption to mining output in Chile, Indonesia and Australia prompted traders to reassess the outlook for global supply and demand. Also, investors were holding cautious optimism stance as the minutes of the latest Federal Reserve meeting showed that Fed officials were divided about when to begin raising interest rates.

MCX copper prices traded higher by 0.4 percent and closed at Rs.375.5/kg on Friday

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Friday, 10 April 2015

Gold and Silver Market News for Today

Gold
Spot gold prices declined by 0.66 percent on Thursday to close at $1194.5/oz. Prices declined for continuos three sessions in a row on strengthening dollar after comments from U.S. Federal Reserve officials kept alive expectations for an interest rate rise sometime this year despite recent weak economic data.

On the MCX, gold prices declined by 0.87 percent to close at Rs.26678/10 gms.

Silver
Spot silver prices declined by 2.1 percent on Thursday to close at $16.1/oz. Prices declined in tandem with fall in gold prices. Strengthening dollar further exerted downside pressure on prices.

On the MCX, silver prices declined by 1.83 percent to close at Rs.36283/kg

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Natural Gas and Oil Tips on Commodity Market

Crude Oil
Oil prices rose on Thursday with WTI and Brent gaining by 0.7 and 1.8 percent respectively. Strong German economic data and uncertainty about negotiations on Iran's nuclear program, even as a strong dollar curbed oil's bounce a day after futures tumbled 6 percent.

On the MCX, oil prices rose by 1 percent to close at Rs.3215/bbl respectively.

Natural gas
U.S. natural gas futures closed at a near 3-year low on Thursday and closed at $2.55/MMbtu after government data showed a larger-thanexpected build in inventories last week as heating demand subsided with warmer weather.

On the MCX, gas prices declined by 3.23 percent to close at Rs.158.60/MMbtu.

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Base Metals Trading Strategies

Copper
LME Copper prices fell by 0.2 percent yesterday on the back of strength in the DX. Also, investors were holding cautious optimism stance as the minutes of the latest Federal Reserve meeting showed that Fed officials were divided about when to begin raising interest rates.

MCX copper prices traded lower by 0.2 percent and closed at Rs.376.3/kg on Thursday.

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Thursday, 9 April 2015

Gold and Silver Market News for Today

Gold
Spot gold prices rose by 0.48 percent on Wednesday to close at $1202.4/oz. Prices dropped below $1200 mark after U.S. Federal Reserve minutes revealed an interest rate hike could take place as early as June, causing the dollar strengthen.

On the MCX, gold prices declined by 0.38 percent to close at Rs.26912/10 gms.

Silver
Spot silver prices declined by 2.1 percent to close at $16.5/oz. The fall is in tandem with fall in gold prices. Strengthening dollar further exerted downside pressure on prices.

On the MCX, silver prices declined by 1.93 percent to close at Rs.36958/kg.

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Natural Gas and Oil Tips on Commodity Market

Crude Oil
Crude oil prices declined on both sides of the Atlantic with WTI and Brent falling by 6.6 and 6 percent respectively. Rise in U.S. crude inventories and news of record Saudi oil production scuttled talk of a sustained recovery.

On the MCX, oil prices declined by 4.3 percent to close at Rs.3182/bbl.

Natural gas
Natural gas prices declined by 1.41 percent on Wednesday to close at $2.67/MMbtu on expectations that stockpiles of the fuel have started building as winter heating demand subsides. On the MCX, gas prices declined by 2.67 percent to close at Rs.163.90/MMbtu.

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Base Metals Trading Strategies

Base Metals
Base metals on the LME apart from Copper and Aluminium traded higher on Wednesday as FOMC member were divided over rate hike in June. Also, Fed's policy statement that followed the meeting showed that the FOMC decided to remove the word "patient" as it allows a meeting by meeting review period.

On the MCX, base metals traded higher except Copper and Aluminium in line with international trends.

Copper
LME Copper prices plunged by 0.8 percent yesterday as concerns over the FOMC meeting minutes exerted pressure in the earlier part. Also, strength in the DX ahead of meeting minutes acted as a negative factor.

MCX copper prices traded lower by 0.9 percent and closed at Rs.377.2/kg on Wednesday.

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Tuesday, 7 April 2015

Gold and Silver Market News for Today

Gold
Spot gold prices rose by 1.04 percent on Monday to close at $1214.3/oz. Prices rose to seven week high climbing for the second straight session after U.S. jobs rose at the slowest pace in more than a year, fueling expectations the U.S. Federal Reserve could postpone an anticipated rate increase.

On the MCX, gold prices rose by 2.01 percent to close at Rs.27132/10 gms.



Silver
Spot silver prices rose by 1.6 percent on Monday to close at $17/oz. The rise is in tandem with rise in gold prices. Besides, weakness in the dollar index by 0.7 percent also acted as a positive factor for prices.

On the MCX, silver prices rose by 2.18 percent to close at Rs.38163/kg.


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Natural Gas and Oil Tips on Commodity Market

Crude Oil
WTI Crude oil prices rose by 6.1 percent while Brent oil rose by 5.8 percent on Monday as traders reassessed how quickly Iran might increase exports after a preliminary nuclear deal and anticipated that a months-long rise in U.S. crude inventories may be slowing.

On the MCX, oil prices rose by 7.1 percent to close at Rs.3254/bbl.

Natural gas
U.S. natural gas futures fell more than 1 percent on Monday as mixed weather forecasts rolled back most of the previous session's rally that came despite warmer than-normal expectations for this week. The market was also facing pressure from new stock builds in natural gas expected to start last week after the final winter/early spring draw at the end of March.

On the MCX, gas prices declined by 1.89 percent to close at Rs.165.80/MMbtu.

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Base Metals Trading Strategies

Base Metals
Base metals on the LME did not trade yesterday as the markets were closed on the eve of Easter Monday holiday. 

Copper
MCX copper prices traded lower by 0.3 percent and closed at Rs.374.2/kg on Monday. However, sharp losses were cushioned by Rupee depreciation and global supply concerns.

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