Thursday, 17 November 2016

Free Commodity Market Tips ; Gold futures rise 0.24% on global cues

At the Multi Commodity Exchange, gold for delivery in December rose by Rs 70 or 0.24 percent to Rs 29,390 per 10 gram in a business turnover of 129 lots.
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Gold prices rose by 0.24 percent to Rs 29,390 per 10 gram in futures trade as participants created fresh positions, tracking a firm trend overseas. At the Multi Commodity Exchange, gold for delivery in December rose by Rs 70 or 0.24 percent to Rs 29,390 per 10 gram in a business turnover of 129 lots. Likewise, the yellow metal for delivery in far-month February next year moved up by Rs 50 or 0.17 percent to Rs 29,156 per 10 gram in five lots.

Analysts said fresh positions created by traders in line with a firm global trend after gold snapped its biggest three-day drop in more than a year amid signs that prices fell too far, too fast and as the dollar weakened for the first time since last week's US presidential election, influenced the precious metal prices at futures trade. Globally, gold rose 0.11 percent to USD 1,229.80 an ounce in Singapore.

Donald Trump’s election, combined with Republican majorities in both the House and Senate, clearly marks a new direction for U.S. government policy. Firstly, let’s examine how markets reacted immediately following Trumps election – below is a snapshot of how certain commodities and major markets moved last week:
Dow Jones up 4.5%, copper up 10%, Nickel up 13%, Oil about even, Gold down 5.5%, Silver down 5%, and the 10-year Treasury yield up 20%.

1 comment:

  1. ACC, Ultratech Cement, Sun Pharma, CIPLA and Bharti Airtel are among the gainers, whereas ITC, GAIL, Aurobindo Pharma, Hindalco and Reliance are losing sheen on NSE.capitalstars

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