Thursday, 31 August 2017

Commodity Market News Update :- Copper & Nickel

Copper on MCX settled down -0.31% at 432.65 as profit booking seen after dollar rebound slowed a rally in prices based on China's robust housing and manufacturing growth. Technically market is getting support at 430.8 and below same could see a test of 429 level, And resistance is now likely to be seen at 435.1, a move above could see prices testing 437.6.

At the MCX, copper futures for August 2017 contract was trading at Rs 434.20 per kg, up by 0.38 %, after opening at Rs 435.00, against a previous close of Rs 432.55. It touched the intra-day high of Rs 435.00.

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Nickel futures were trading higher during the afternoon trade in the domestic market on Thursday as participants widened their bets, driven by pick-up in demand in the spot market. Analysts attributed rise in nickel futures to building-up of positions by traders due to pick up in demand from alloy- makers in the spot market.

At the MCX, nickel futures for August 2017 contract was trading at Rs 748.40 per kg, up by 1.37 per cent, after opening at Rs 742.40, against a previous close of Rs 738.30. It touched the intra-day high of Rs 748.40.

Monday, 28 August 2017

Gold futures rise on firm global cues


Gold futures were trading up in the domestic market on Monday on speculative buying amid a firm global trend. Analysts said a firm trend in global markets, as a weak dollar boosted the demand for safe-haven investment, influenced gold prices at the futures trade.



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At the MCX, gold futures for October 2017 contract was at Rs 29247 per 10 grams, up by 0.27 per cent, after opening at Rs 29195 against a previous close of Rs 29167. It touched the intra-day high of Rs 29290.

Thursday, 24 August 2017

सेंट्रल बैंक की बैठक से पहले सोने में चमक बढ़ी

सेंट्रल बैंक की बैठक से पहले सोने में चमक बढ़ती दिख रही है। वहीं अमेरिका में भंडार घटने से कच्चे तेल में भी तेजी का रुख नजर आ रहा है। जिसके चलते ब्रेंट क्रूड 52.5 डॉलर प्रति बैरल के पार चला गया है।

जिंक एमसीएक्स: खरीदें - 199, स्टॉपलॉस - 197.5, लक्ष्य - 202.

कच्चा तेल एमसीएक्स: बेचें - 3100, स्टॉपलॉस - 3125, लक्ष्य - 3050.

 

बहुमूल्य जानकारी के लिए धन्यवाद , शेयर बाजार समाचार और शेयर के उतार चढ़ाव तथा इन्वेस्टमेंट के लिए विसिट करे www.marketmagnify.com या फोन करें 7879881122.

Wednesday, 23 August 2017

Live Commodity Market News :- Menthaoil trading range for the day is 1138.1-1191.3

Mentha oil futures were trading higher during the morning trade in the domestic market on Wednesday amid pick-up in demand at domestic spot market and restricted supplies from producing regions.Mentha oil on MCX settled down by -1.75% at 1162.8 taking negative cues from spot market on easing demand from industries. Besides, ample stock positions on higher supplies from major producing belts of Chandausi in Uttar Pradesh too weighed on mentha oil prices.

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BUY MENTHA OIL AUG ABOVE 1180 TARGET 1184-1188-1198 WITH SL 1165

Market analysts said fresh positions built up by traders following pick-up in demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade. At the MCX, mentha oil futures for August 2017 contract was trading at Rs 1173 per kg, up by 0.88 per cent, after opening at Rs 1175, against the previous closing price of Rs 1162.80. It touched the intra-day high of Rs 1179.

MENTHA OIL HIT ALMOST 3RD TG 1198 BOOK FULL PROFIT MKT HIGH IS 1195


Mentha oil spot at Sambhal closed at 1330.00 per 1kg. Spot prices was down by Rs.-20.60/-.Technically market is under long liquidation as market has witnessed drop in open interest by -15.55% to settled at 2379 while prices down -20.7 rupees, now Menthaoil is getting support at 1150.4 and below same could see a test of 1138.1 level, And resistance is now likely to be seen at 1177, a move above could see prices testing 1191.3.

Tuesday, 22 August 2017

LME Inventory Data Today – 22/08/2017

The London Metal Exchange (LME) is the futures exchange with the world’s largest market in options and futures contracts on base and other metals. LME Inventory Reports Contains Previous Day Closing Stock of Commodities held in London Metal Exchange. Below are the Updated LME Inventory Today Report. Here is Todays MCX LME INVENTORY LEVEL Which contains Lme Copper, Zinc, Aluminium, Nickel, Lead & Tin.
 

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ZINK MARKET NEWS & CALLS UPDATE

SELL ZINC AUG BELOW 199.65 TARGET 199.15-198.65-197.65 WITH SL 201.70

Zinc on MCX settled down -0.27% at 200.25 dropped on profit booking while earlier in the session prices rose to its highest price in a decade as investors ploughed into metals used by China's steel sector, seeing robust demand even as capacity is constrained by Beijing's drive for industry reform. Yesterday LME zinc hit the highest since October 2007 at $3,180.50 a tonne. Zinc prices were also driven by rising expectations of increase in the Chinese infrastructure spending, as stocks at Chinese ports fall for a fourth week.

Technically market is under long liquidation as market has witnessed drop in open interest by -6.9% to settled at 8020, now Zinc is getting support at 198.6 and below same could see a test of 196.8 level, And resistance is now likely to be seen at 202.8, a move above could see prices testing 205.2.

Trading Ideas:

* Zinc trading range for the day is 196.8-205.2.

* Zinc pared gains on profit booking after prices rose as expectations of a large market deficit this year fuelled speculative buying.

* LME Zinc stocks were at 247,850 tonnes, are down more than 40 %since the start of the year and cancelled warrants at nearly 50 %.

Monday, 21 August 2017

India gold discounts widen as South Korea imports add to supply

Gold prices in India were at their widest discount to international prices in 11 months on Friday due to sluggish demand and an influx of the precious metal sourced from South Korea.

Gold managed to stay supported and witnessed good buying support to hit its nine month highs in the third week of August amid a jaded undertone in global equities. Strong Indian demand hopes and sustained safe haven buying also helped the yellow metal. 

 

The US dollar slipped lower against other major currencies, as ongoing US political tensions and doubts over an additional rate hike by the Federal Reserve this year continued to weigh. COMEX Gold tested above the critical $1300 per ounce level. MCX Gold futures managed to stay afloat and hit highs around Rs 29200 levels.

 

Indian traders are likely to import 25 tonnes of gold from South Korea in July-August, taking advantage of a recent tax change that allows imports without the usual 10 % customs duty, industry officials told Reuters.India had previously imposed a 12.5 percent excise duty on imports from countries with which it had signed Free Trade Agreements (FTAs), such as South Korea.

 

Spot gold rose on Friday, supported by international political tensions and doubts over the ability of U.S. President Donald Trump's administration to push through its economic agenda.

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Friday, 18 August 2017

Gold futures up on global cues

Gold futures were trading in the green in the domestic market on Friday on account of rise in speculative bets amid supportive global cues. According to the analysts, gold prices are expected to trade sideways from Rs 29,300-28,900.Fresh buying could be witnessed above Rs 29,300. 

At the MCX, gold futures for October 2017 contract is trading at Rs 29188 per 10 grams, up by 0.13 per cent, after opening at Rs 29170, against a previous close of Rs 29151. It touched the intra-day high of Rs 29215.

 

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Thursday, 17 August 2017

White metal rises amid positive global cues

Silver futures were trading higher during the afternoon trade in the domestic market on Thursday taking positive cues from the global market. Market analysts said a firm trend in precious metals in global market mainly attributed to the rise in silver prices at the futures trade. 
 

SELL SILVER SEP BELOW 39240 TARGET 39140-39000-38800 WITH SL 39500


At the MCX, silver futures for September 2017 contract was trading at Rs 39169 per kg, up by 0.79 %, after opening at Rs 39000, against a previous close of Rs 38,863. It touched the intra-day high of Rs 39,350. 
 

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Wednesday, 16 August 2017

Gold imports jump over 2-fold to $13.35 bn in April-July

India's gold imports more than doubled to USD 13.35 billion during the April-July period of the current fiscal, according to the data of the commerce ministry, reported PTI. Gold imports, which has bearing on the country's current account deficit (CAD), stood at USD 4.97 billion in April-July 2016-17. In July this year, imports of the precious metal rose to USD 2.10 billion from USD 1.07 billion in the same month of the previous year.

Gold prices inched up early on Wednesday after two days of losses, with investors awaiting minutes from the U.S. Federal Reserve's last meeting in July for clues on the pace of potential interest rate hikes.

Spot gold inched 0.1 percent higher to $1,272.81 per ounce by 0357 GMT, after falling for two straight days.

U.S. gold futures for December delivery was down 0.1 %at $1,278.50 an ounce.

                    Trading Ideas

* Gold trading range for the day is 28949-29229.

* Gold prices edged lower, pulling back from their highest level in around two months as concerns about tensions between the U.S. and North Korea eased.

* India's gold imports are likely to jump by a third in 2017 to 750 tonnes on restocking by jewellers and as good monsoon rainfall is expected to boost demand in rural areas.

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Thursday, 3 August 2017

TODAY COMMODITY MARKET NEWS

Zinc Trading Range for the day is 175.8-180.6. MCX Zinc is getting support at 176.9 and below same could see a test of 175.8 level, And resistance is now likely to be seen at 179.3, a move above could see prices testing 180.6.

Zinc on MCX settled down -0.78% at 178 on profit-taking in much of the complex following several patchy U.S. economic reports, although otherwise solid global growth reports and a weaker dollar underpinned prices.

Technically Zinc market is under long liquidation as market has witnessed drop in open interest by 2.69% to settle at 5248 while prices down 1.4 rupees.

 

Aluminum Market is under fresh selling as market has witnessed gain in open interest by 25.56% to settled at 2780 while prices down 0.85 rupees.Now MCX Aluminium is getting support at 121.6 and below same could see a test of 121.2 level, And resistance is now likely to be seen at 122.5, a move above could see prices testing 123.

Aluminum on MCX settled down 0.69% at 121.85 tracking weakness from LME Aluminium which ended down 0.6 percent at $1,907 despite supportive stronger demand from top consumer China.

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कमोडिटी मार्केट: सोने में गिरावट बढ़ी

BUY GOLD OCT ABOVE 28385 TARGET 28415 -28455-28500 WITH SL 28230

डॉलर के मुकाबले रुपया 2 साल की ऊंचाई पर है। एक डॉलर की कीमत 63 रुपये 60 पैसे के पास है। ऐसे में घरेलू कमोडिटी बाजार पर बड़ा असर पड़ा है। घरेलू बाजार में सोने में गिरावट बढ़ गई है और इसका दाम करीब 150 रुपये से ज्यादा टूट गया है।

 

वहीं चांदी भी करीब 350 रुपये नीचे है। सप्लाई प्रेशर की वजह से कच्चे तेल में भी कल से ही छोटे दायरे में कारोबार हो रहा है। वहीं एग्री कमोडिटी पर नजर डालें तो ग्वार में आज जोरदार तेजी आई है और इसका दाम करीब फीसदी उछल गया है।


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गौरतलब है कि अप्रैल से जून के दौरान ऊंची कीमतों के बावजूद सोने की मांग बढ़ गई है। वर्ल्ड गोल्ड काउंसिल ने कहा है कि इस दौरान भारत में सोने की मांग करीब 37 फीसदी और ज्वेलरी डिमांड करीब 40 फीसदी बढ़ गई है। वहीं इस दौरान निवेश मांग में भी बढ़त देखने को मिली है।

Wednesday, 2 August 2017

Mentha Oil News Update By Market Magnify

CALL:- SELL MENTHA OIL AUG BELOW 1132 TARGET 1128-1124-1115 WITH SL 1148. 

Mentha oil on MCX settled up by 4% at 1139.5 on lower arrivals in the major spot market of Uttar Pradesh while the demand has improved from mentha consuming industries and local buyers which may support prices in the near-term. According to the sources, arrivals are less in the major physical market of Uttar Pradesh. From demand front, buying activities are more from local stockists as well as from mentha consuming industries.

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Stock positions of mentha in MCX accredited warehouses were around 10484 drums which is 24 drums less in comparison to previous day while in process were 1116 drums, which is 264 drums more against the previous day. Expectations of higher output in 2017 will further dampen the sentiment moving ahead. Mentha output this year is likely to rise by 10-12% to 36,000 tn, as weather remained largely conducive throughout the season.

Mentha oil spot at Sambhal closed at 1297.70 per 1kg. Spot prices was up by Rs.30.90/-.Technically market is under short covering as market has witnessed drop in open interest by -1.27% to settled at 3883 while prices up 43.8 rupees, now Menthaoil is getting support at 1087.3 and below same could see a test of 1035 level, And resistance is now likely to be seen at 1165.7, a move above could see prices testing 1191.8.

                           Trading Ideas

  1.  Menthaoil trading range for the day is 1035-1191.8.

  2. Mentha oil spot at Sambhal closed at 1297.70 per 1kg. Spot prices was up by Rs.30.90/-.

  3.  Mentha oil prices gained on lower arrivals in the major spot market of Uttar Pradesh.

  4. According to the sources, arrivals are less in the major physical market of Uttar Pradesh.