Friday, 29 May 2015

Best Gold and Silver Trading Tips Provider

Gold
After hitting a two and half week low on Thursday, spot gold prices rose marginally by 0.03 percent to close at $1187.7/oz. European Central Bank Vice President Vitor Constancio underlined the gravity of the situation facing Greece, talking openly about a possible default that would be the first of its kind in the eurozone.

On the MCX, gold prices declined marginally by 0.06 percent to close at Rs.26861/10 gms.

Silver
Spot silver prices remain unchanged on Thursday to close at $16.7/oz in line with strength in gold prices. Weakness in the dollar index coupled with strength in copper prices acted as a positive factor.

On the MCX, silver prices declined by 0.13 percent to close at Rs.38858/bbl.

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Energy News and Tips in Commodity Market

Crude Oil
WTI and Brent crude oil prices rose on Thursday by 0.3 and 0.8 percent respectively snapping two days of sharp losses, after data showed a fourth weekly drawdown in U.S. crude stocks.

On the MCX, oil prices declined by 1.2 percent to close at Rs.3668/bbl. 

Natural gas
NYMEX natural gas prices declined by 3.64 percent on Thursday to close at $2.73/bbl while MCX gas prices also lost by more than 5 percent to close at Rs.174.40/MMbtu. No incremental demand, buildup in the inventories exerted downside pressure on gas prices.

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Daily Metals News and Update

Base Metals
Base metals on the LME apart from Nickel traded higher yesterday as weakness in the DX after Greece expressed confidence this week it will soon seal a cash-for reforms deal provided much needed support. Also, favorable pending home sales data from the US supported gains.

Nickel was the biggest loser yesterday with losses of 0.6 percent while zinc and lead gained the most by 2 percent. 

On the MCX, base metals apart from Copper and Nickel traded on a positive note in line with international trends. 

MCX copper prices fell by 0.4 percent and closed at Rs.392.5/kg on Thursday.

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Thursday, 28 May 2015

Best Gold and Silver Trading Tips Provider

Gold
Spot gold prices rose marginally on Wednesday by 0.07 percent to close at $1187.4/oz as dollar index retreated from one month high, however the precious metal remained under pressure from expectations that the US federal reserve make hike the rates sooner.

On the MCX, gold prices declined marginally by 0.06 percent to close at Rs.26877/10 gms.

Silver
Silver remains the best-performing precious metal this month despite Tuesday's 2.4 percent drop, up 3.2 percent since the end of April in its biggest monthly rise since January. On Wednesday the metal declined by 0.2 percent to close at $16.7/oz while 

MCX silver prices also declined by 0.42 percent to close at Rs.38909/kg.

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Energy News and Tips in Commodity Market

Crude Oil
Oil prices declined on Wednesday with WTI and Brent losing its value by 0.9 and 0.3 percent respectively. France's warning to Iran that it was ready to block a final deal on Tehran's nuclear program unless Iran provided full access to inspectors. Iran needs the nuclear deal to unlock sanctions on its crude exports.

Natural gas
Natural gas prices on the NYMEX declined by 0.56 percent to close at $2.83/MMbtu while MCX gas prices rose by 2.63 percent to close at Rs.183.70/MMbtu. 

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Daily Metals News and Update

Base Metals
Base metals on the LME apart from Copper and Aluminium were trading higher yesterday as reports that Greece and its creditors are closer to striking a deal so the cash-strapped nation would avert default in the coming days.

Copper
LME Copper prices declined by 0.4 percent on Wednesday as the DX resumed its rally and pressurized dollar denominated commodities. Also, concerns regarding demand outlook from China exerted pressure on the red metal.

MCX copper prices fell by 0.1 percent and closed at Rs.393.9/kg on Wednesday.

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Wednesday, 27 May 2015

Best Gold and Silver Trading Tips Provider

Gold
Spot gold prices declined by 1.68 percent on Tuesday to close at $1186.6/oz as the dollar extended gains following a raft of strong U.S. data and recent comments from Federal Reserve Chair Janet Yellen that reinforced the central bank's tightening bias on monetary policy.

On the MCX, gold prices declined by 0.99 percent to close at Rs.26892/10 gms.

Silver
On Tuesday, spot silver prices declined by 2.4 percent to close at $16.7/oz in line with weakness in gold prices. Stronger dollar and weakness in the base metals pack further exerted downside pressure on the yellow metal. On the MCX, silver prices declined by 1.51 percent to close at Rs.39072/kg.

On the MCX, silver prices declined by 1.51 percent to close at Rs.39072/kg.

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Energy News and Tips in Commodity Market

Crude Oil
Oil prices declined on Tuesday with WTI and Brent falling by 2.8 and 2.7 percent respectively. Stronger dollar weighed on dollar-denominated crude oil futures along with concerns that a recent rally might keep U.S. producers active.

On the MCX, crude prices traded lower by 2.7 percent to close at Rs.3725/bbl.

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Daily Metals News and Update

Base Metals
Base metals on the LME apart from Lead and Zinc were trading lower yesterday owing to strength in the DX. Also, rise in risk aversion in the markets due to uncertainty over Greece kept the investors away from metals space.

Copper was the biggest loser yesterday with price decline of 0.9 percent whereas Zinc gained the most by 0.4 percent.

MCX copper prices fell by 1.4 percent and closed at Rs.394.4/kg on Tuesday despite Rupee depreciation.

On the MCX, base metals apart from Lead and Zinc traded on a negative note in line with international trends.

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Tuesday, 26 May 2015

Best Gold and Silver Trading Tips Provider

Gold
Spot gold prices rose marginally by 0.08 percent on Monday to close at $1206.8/oz as dollar strengthened, on signs the Federal Reserve is preparing to tighten monetary policy for the first time in six years in 2015.

On the MCX, gold prices rose by 0.29 percent to close at Rs.27161/10 gms.

Silver
Spot silver prices rose by 0.1 percent on Monday to close at $17.1/oz. Markets traded in thin volumes as British and US markets were shut for holidays. On the MCX, silver prices rose by 0.45 percent to close at Rs.39672/kg.

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Energy News and Tips in Commodity Market

Crude Oil
Crude oil prices rose by 0.4 percent on Monday to close at $59.9/bbl as firm global demand offset a strong dollar, although a holiday in the United States and much of Europe kept trading muted. The market drew support from figures showing strong demand across Asia and the United States.


On the MCX, oil prices rose by 0.4 percent to close at Rs.3830/bbl.

Natural gas
Natural gas prices on the MCX declined by 2.66 percent and closed at Rs.179.60/MMbtu with lack of cues from international markets.

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Daily Metals News and Update

Base Metals
LME markets were closed yesterday n the eve of Spring Day Holiday. On Friday, all the bases metals on the LME traded lower owing to strength in the DX. Also, persistent Greece concerns continued to bother demand for metals.

Copper
LME Copper prices plunged by 1.4 percent on Friday as dollar rebounded following stronger than expected core inflation reading. The 0.3% mom rise in core CPI in May was the strongest gain since January 2013 and was seen as a sign that inflation is finally climbing back to Fed's target.

MCX copper prices rose by 0.8 percent and closed at Rs.399.8/kg on Monday owing to Rupee depreciation.

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Monday, 25 May 2015

Best Gold and Silver Trading Tips Provider

It is clearly evident on the given daily chart that MCX Gold has cleared the much awaited resistance of 27300 level after many months. This has resulted in a decisive break out in the counter. In addition, GOLD surged towards 27600 mark and is now back to 27450 which can be termed as a pullback.

In the upcoming week, a move above 27600 level will trigger sharp buying in GOLD which can pull it towards 27800 - 28000 level.

Given here is the hourly chart of SILVER which depicts that the commodity has been trading upwards right from the 37500 level and recently sneaked above the 40100 mark. Now, we are witnessing a multiple top formation near 40100 mark. A move above the same might result in a bullish flag breakout. In such scenario, Silver can travel above 40500 levels also. However, in case if the commodity breached 39750 level then it can correct towards 39300 level being in an overbought territory. 

Even the momentum oscillators are signaling towards a breather for the time being.

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Energy News and Tips

On the daily chart, Crude Oil is witnessing a multiple support at 3720 mark. A sustainable move below the same will lead to change of trend on the short term charts after a couple of months. Thus, 3720 will remain a critical support for crude in the coming session. A move below the same could lead to some profit booking in the commodity and as a result it can dip further to test 3550 level in the coming week

RSI is also on a verge of giving a sell signal from the overbought zone by supporting the bearish view.

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Daily Metals News and Update

On the daily chart we are observing that COPPER has a multiple resistance at 418 level. Recently after testing the same level COPPER has resulted in a “double top” which is a sign of some consolidation or profit booking from current levels. Therefore a move below Friday’s low of 409.35 can lead to a sharp fall towards 400 mark.

In addition, even the value of RSI is turning from the overbought territory.

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Friday, 22 May 2015

Daily Updates On Gold and Silver

Gold settled down -0.65% at 27108 as investors continuing to mull over the Federal Reserve's minutes for its April meeting, amid a slew of disappointing economic data from the U.S. and Europe. Gold prices were under pressure after failing to get any lift from yesterday's dovish Fed minutes.

Gold trading range for the day is 26943-27401.

Silver settled down -0.32% at 39166 amid downbeat economic data in the US, Europe and China, as metal traders digested Wednesday's release of the Fed's April meeting, which provided further indications of a delayed interest rate hike.

Silver trading range for the day is 38671-39703.

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Crude Oil and Natural Gas Latest News

Crudeoil settled up 2.28% at 3861 ended sharply higher for a second straight session on Thursday amid easing concerns of oversupply and continued fighting in the Middle East.

Crudeoil trading range for the day is 3736-3954.

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Metals News and Update for Today

Zinc settled down -0.32% at 139.7 as market was plagued with market caution after data showed HSBC’s PMI for China fell short of market expectations. The number of US initial jobless claims last week increased 10,000.

Zinc trading range for the day is 136.9-142.9

Copper settled up 0.51% at 402.85 rebounded from the previous session's three week low on Thursday, as weak China factory activity reinforced views that Beijing will roll out fresh stimulus measures for the world's secondlargest economy.

Copper trading range for the day is 399.7-405.9.

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Thursday, 21 May 2015

Daily Updates On Gold and Silver

Gold
Spot gold prices rose by 0.15 percent on Wednesday to close at $1209.2/oz as dollar pared its gains after U.S. Federal Reserve minutes showed policy makers believed it would be premature to raise interest rates in June.

On the MCX, gold prices declined marginally by 0.04 percent to close at Rs.27284/10 gms.

Silver
Spot silver prices rose by 0.2 percent on Wednesday to close at $17.1/oz in line with strength in gold prices. However, strength in dollar index coupled with weak base metals pack exerted downside pressure on prices.

On the MCX, silver prices declined marginally by 0.01 percent to close at Rs.39811/kg.

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Crude Oil and Natural Gas Latest News

Crude Oil
Oil prices rose on Wednesday as WTI and Brent gained by 3 and 1.6 percent respectively after another weekly inventory draw but gains were still limited by a huge supply overhang and concerns about a stronger dollar.

Natural gas
Natural gas prices declined by 0.93 percent to close at $2.97/MMbtu while MCX gas prices around 2 percent to close at Rs.186/MMbtu.

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Metals News and Update for Today

Base Metals
Base metals on the LME traded mixed yesterday ahead of key manufacturing data on China that may provide more clues on the extent of economic slowdown in the world's top consumer of the metal.

Copper
LME Copper prices traded on a flat note today as strength in the Dollar Index ahead of FOMC minutes exerted pressure on prices. Along with that, investors’ keenly awaited China’s manufacturing data for cues on economy.

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Wednesday, 20 May 2015

Daily Updates On Gold and Silver

Gold's five-day rally ran out of steam on Tuesday as the dollar extended gains on strong U.S. data, while global shares rose on the European Central Bank's suggestion it may speed up bond buying.

We expect gold prices are likely to trade negative on the back of better than expected economic data from the US.

Silver dropped 3.4 percent to $17.07 an ounce. U.S. housing starts jumped to their highest level in nearly 7-1/2 years in April and permits soared, offering a glimmer of hope for an economy that is struggling to regain strong momentum after a dismal first quarter.

We expect silver prices are likely to trade negative on the back of better than expected economic data from the US.

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Crude Oil and Natural Gas Latest News

Oil prices fell more than 3 percent on Tuesday, with U.S. crude extending losses for a fifth straight day as the dollar rallied and on evidence that the United States and top oil exporter Saudi Arabia were pumping more than the world needed.

U.S. natural gas futures slid on Tuesday to end down more than 2 percent, after climbing in early trade to a four-month high and then reversing course after forecasters called for weaker demand and stronger production.

We expect Natural gas prices to trade negative on the back of normal temperature forecast for next few days.

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Metals News and Update for Today

Nickel prices posted their biggest one-day fall in a year on Tuesday after inventories jumped to a record high, accentuating an overhang of supplies weighing on the market.

We expect base metal prices to trade negative on the back of profit booking after sharp rise in prices.

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Monday, 18 May 2015

Daily Updates On Gold and Silver

Gold prices supported as soft U.S. consumer sentiment data weighed on the dollar and further diminished expectations for a near-term rise in U.S. India, the world's biggest gold consumer, has imported 60 tonnes of the yellow metal so far in May, sources reported.

Gold trading range for the day is 27162-27630.


Silver gained tracking declining global equity markets following some soft economic data from the U.S. with the dollar continuing to trend lower. Holdings at ishares silver trust dropped by 0.42% i.e. 41.54 tonnes to 9925.92 tonnes from 9967.46 tonnes.

Silver trading range for the day is 39084-40482.

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Crude Oil Latest News

Crude oil settled flat prices seen supported buoyed by a weaker dollar and forecasts for lower growth in U.S. crude output.

Crude oil trading range for the day is 3678-3858.

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Metals News and Update for Today

Copper settled firm as a slightly weaker dollar balanced worries that a recent rally was overshooting the supply-demand fundamentals.

Copper trading range for the day is 407-416.8

Nickel settled up as a softer U.S. dollar boosted the metals prices, the market is struggling for gloomy data from the United States. 

Nickel trading range for the day is 859.7-901.5.

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