Commodity Market Trading Tips-Gold Rate Today: Gold, silver trade lower in morning deals

Gold and silver were trading lower in the morning trade on Friday following subdued demand of precious metals from jewellers, industries and retailers.

MCX Gold futures were trading 0.30 per cent down at Rs 30,339 per 10 grams at around 10.45 am (IST), while MCX Silver futures were down 0.29 per cent at Rs 38,645 at around the same time.

commodity gold

According to SMC Investments and Advisors, bullion counter may continue to extend Thursday’s losses. Outcome of nonfarm payroll data will give direction to dollar index which can extend its gains further and can test 90.40. Nonfarm roll data is expected to come at 200k as previous figures.

“On domestic bourses gold remains on weaker path and can slip towards Rs 30,200 while silver can also test Rs 38,500 on MCX,” SMC said.

Angel Broking seconds SMC and said, “We expect gold prices to trade lower today.” It further added that weak Euro and stronger dollar are factors which can give direction to precious metals in the near term.

Latest holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, dipped 0.03 per cent to 833.73 tonnes on Wednesday from Tuesday.

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कमोडिटी बाजार: कच्चा तेल संभला, क्या करें

कल की भारी गिरावट के बाद आज कच्चा तेल संभलता नजर आ रहा है। हालांकि बेहद छोटे दायरे में कारोबार हो रहा है। कल क्रूड में करीब 2.5 फीसदी की तेज गिरावट आई थी। दरअसल अमेरिका में क्रूड का भंडार 24 लाख बैरल बढ़ने के साथ ही यूएस एनर्जी डिपार्टमेंट ने क्रूड के उत्पादन पर अनुमान बढ़ा दिया है। एजेंसी के मुताबिक इस साल वहां रोजाना उत्पादन स्तर 1 करोड़ 7 लाख बैरल तक जा सकता है। वहीं अगले साल उत्पादन का स्तर 1 करोड़ 12 लाख बैरल जाने का अनुमान है। इसके साथ ही ईआईए ने क्रूड की कीमतों पर अनुमान घटा दिया है।

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इस बीच सोने और चांदी में बेहद सुस्त कारोबार हो रहा है। दरअसल अमेरिका ने कनाडा और मैक्सिको जैसे कुछ देशों को इंपोर्ट ड्यूटी में छूट देने का संकेत दिया है। ऐसे में ट्रेड वार की आशंका थोड़ी कमजोर पड़ी है। एसपीडीआर गोल्ड की होल्डिंग में कमी आई है और पिछले महीने भारत में सोने का इंपोर्ट घट गया है।

मेटल्स की बात करें तो पिछले महीने चीन में कॉपर का इंपोर्ट घट गया है। वहीं अमेरिका में इंपोर्ट ड्यूटी बढ़ने के अनुमान से लंदन मेटल एक्सचेंज के गोदामों में एल्युमिनियम का भंडार बढ़ गया है। शंघाई एक्सचेंज के गोदामों में तो ये रिकॉर्ड स्तर पर चला गया है। ऐसे में घरेलू बाजार में एल्युमिनिसम बेहद सुस्त है और ये पिछले 1 महीने के निचले स्तर के पास कारोबार कर रहा है।

एग्री कमोडिटीज में सोयाबीन में आज गिरावट आई है और इसका दाम करीब 1 फीसदी नीचे है। दरअसल खाने के तेलों में सुस्ती दिख रही है। वहीं सरसों की आवक बढ़ने का अनुमान है। इस बीच आवक के दबाव में चना भी कमजोर पड़ गया है। क्योंकि महाराष्ट्र, मध्य प्रदेश और कर्नाटक में नए चने की आवक जोर पकड़ रही है।

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Today’s Commodity Market Trends-Gold steady as investors await clarity on Trump’s tariff plan

Gold prices held steady early on Thursday as markets waited for more details on US President Donald Trump’s proposed steel and aluminum tariffs and the outcome of the European Central Bank’s policy meeting.

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FUNDAMENTALS

* Spot gold rose 0.1 per cent to $1,326.40 per ounce at 0058 GMT. It hit its highest in a week on Wednesday at $1,340.42.

* The White House said late Wednesday that Canada, Mexico and possibly other countries may be exempted from the proposed steel and aluminium tariffs.

* Trump is expected to sign a presidential proclamation establishing the tariffs during a ceremony scheduled for 2030 GMT on Thursday, a source familiar with the situation said.

* The European Central Bank is all but certain to keep policy unchanged on Thursday but may tweak its communication stance to offer at least a few clues about its progress towards ending its unprecedented bond purchases later this year.

* Businesses are reporting persistent labor market tightness across the United States, with accelerating wage gains in many regions, the Federal Reserve said on Wednesday in a report that bolstered the case for interest rate increases.

* SPDR Gold Trust GLD, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.03 per cent to 833.73 tonnes on Wednesday from 833.98 tonnes on Tuesday.

* The five banks that settle every transaction in London’s $6.8 trillion a year gold market are changing the rules of their clearing house to make it easier for newcomers to join.

* India’s gold imports in February dropped a quarter from a year ago to 63 tonnes as higher prices curtailed demand in the world’s second-biggest consumer of bullion, provisional data from precious metals consultancy GFMS and bank dealers showed.

* Gold mining in Africa has a bad rap — particularly when it comes to women. But in the gold mining belt of Mali, one of the world’s poorest countries, the victimization lens does great injustice to the hundreds of women mining alongside men.

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क्रूड में कमजोरी, सोने में हल्की बढ़त

ग्लोबल बाजार में कच्चे तेल में कमजोरी देखने को मिल रही है। नायमैक्स पर डब्ल्यूटीआई क्रूड 0.8 फीसदी फिसलकर 62.1 डॉलर पर कारोबार कर रहा है। ब्रेंट क्रूड भी 0.8 फीसदी गिरकर 65.25 डॉलर पर कारोबार कर रहा है।

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हालांकि डॉलर की कमजोरी बढ़ने से सोने में चमक दिख रही है। कॉमैक्स पर सोना 0.15 फीसदी की बढ़त के साथ 1,337.3 डॉलर पर कारोबार कर रहा है। चांदी 0.2 फीसदी गिरकर 16.75 डॉलर पर कारोबार कर रही है।

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Commodity Market Trading Tips-Gold gains as trade war fears weigh on dollar, equities

Gold prices inched higher early Wednesday to their highest in a week as US equities and the dollar weakened after President Donald Trump said he would push ahead with punitive tariffs on steel and aluminium imports, rekindling fears of a potential trade war.

Fundamentals
Spot gold rose 0.1 per cent to $1,335.07 per ounce at 0126 GMT after hitting $1,340.42 an ounce earlier in the session, its highest since February 26.

US gold futures for April delivery rose 0.1 per cent to $1,336.30 per ounce.

commodity gold

US stock futures and the dollar slumped on Wednesday after a key advocate for free trade in the White House announced his resignation, fanning fears Trump would go ahead with tariffs and risk a trade war.

Trump’s top economic adviser Gary Cohn resigned on Tuesday after the US president said he was sticking with plans to impose hefty tariffs on steel and aluminium imports, which some critics have dubbed the first shot in a global trade war.

The US dollar will retreat further over the coming year, giving way to an ascendant euro, according to a Reuters poll of strategists who said five or more Federal Reserve rate rises would be needed to significantly boost the greenback’s fortunes .

Feeling the pressure of sanctions, North Korea seems “sincere” in its apparent willingness to halt nuclear tests if it held denuclearization talks with the United States, Trump said on Tuesday as US, South Korean and Japanese officials voiced skepticism about any discussions.

New orders for US-made goods recorded their biggest decline in six months in January and business spending on equipment appeared to be slowing after strong growth in 2017.

Asian gold-backed exchange-traded funds (ETFs) added more tonnes in February than North America and Europe, reversing its 2017 trend of having more flows out, the World Gold Council said on Tuesday.

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