Commodity Market Report-Base metals: Copper, nickel rise on high demand

Nickel prices gained 0.89 per cent to Rs 863.60 per kg in futures trade today as speculators built up positions, supported by rising demand from alloy-makers in the spot market.

At the Multi Commodity Exchange, nickel for delivery in current month moved up by Rs 7.60, or 0.89 per cent, to Rs 863.60 per kg in a business turnover of 1,650 lots.

base metal promotional

Similarly, the metal for May delivery traded higher by Rs 7.50, or 0.87 per cent, to Rs 867.50 per kg in a business turnover of 27 lots.

Analysts said, speculators enlarged positions on a firming trend at the domestic spot markets on better demand from consuming industries, which mainly supported the upside in nickel prices in futures trade.

Copper
Copper prices rose by 0.23 per cent to Rs 434.65 per kg in futures trade today as speculators built up fresh positions amid rising demand in domestic spot markets.

In futures trading at the Multi Commodity Exchange, copper for delivery in April traded higher by Re 1, or 0.23 per cent, to Rs 434.65 per kgin a business turnover of 1,457 lots.

Metal for delivery in far-month June rose 95 paise, or 0.22 per cent, to Rs 439.50 per kg in 11 lots.
Analysts attributed the rise in copper futures to raising of bets by participants, tracking a firm trend at the domestic markets following pick up in demand from consuming industries.

To Get Free Trial on Commodity Market Tips, Mcx Trading Tips give

Missed call @8817002233, WHATSAPP NO.8602780449

Mail Us = starindiamarket@gmail.com

visit = https://www.starindiaresearch.com/mcx-tips.php

Advertisements

Today’s Commodity MCX Updates-Gold hits 1-week low as dollar picks up

Gold prices on Thursday extended declines from the day before to hit their lowest in nearly a week, pressured as the US dollar recovered from a 3-year low touched on Wednesday.

Fundamentals

Spot gold had fallen 0.1 per cent to $1,326.51 an ounce by 0112 GMT. It earlier marked its weakest since January 12 at $1,324.60.

gold-hits-1-week-low-as-dollar-picks-up

Spot gold fell 0.8 per cent on Wednesday, its worst one-day percentage decline since December 7.

US gold futures on Thursday lost 1 per cent to $1,324.70 an ounce.

The dollar index was up 0.4 per cent at 90.885 , after dropping to its lowest since December, 2014 at 90.113 on Wednesday.

Asian stocks were near record highs on Thursday, with a rally by Wall Street supporting bullish investor sentiment.

Longer-term, gold will be supported by risk that global share prices could fall from record highs and strong growth around the world could stoke inflation.

Some European Central Bank officials on Wednesday voiced worries about the euro’s strength.

In an interview with Italian newspaper la Repubblica Vitor Constancio, the ECB vice president, said he did not rule out that monetary policy would still continue to be “very accommodating for a long time”.

Cleveland Federal Reserve President Loretta Mester said on Wednesday that her assumption the US federal tax overhaul would add 0.25 to 0.5 per centage points in growth over the next two years might be too low.

The US economy should grow at a good clip this year, boosted by tax cuts, two Fed officials said on Wednesday, though they disagreed on how close the economy is to overheating and the need for rate hikes this year.

Industrial gold production in Mali rose to 49.6 tonnes in 2017, up 5 per cent from the previous year, said a senior Mines Ministry official in the West African nation.

Financial crime fighters at the US Treasury are “aggressively” pursuing virtual currency platforms that lack strong internal safeguards against money laundering, a top official told a Senate panel on Wednesday.

Digital currencies suffered another day of heavy losses on Wednesday on worries about a widening regulatory crackdown.

Bitcoin on Wednesday fell more than 10 per cent to below $10,000 for the first time since December 1 on the Luxembourg-based Bitstamp exchange. The biggest digital currency has lost half its value since it peaked near $20,000 about a month ago.

To Get Free Trial on Commodity Market Tips, Mcx Trading Tips give

Missed call @8817002233, WHATSAPP NO.8602780449

Mail Us = starindiamarket@gmail.com

visit = https://www.starindiaresearch.com/mcx-tips.php

COMMODITY OUTLOOK on Lead Market

Lead:-

Lead prices edged up by 0.18 per cent to Rs 163.10 per kg in futures trade today as participants built up fresh positions after demand from consuming industries in the spot market picked up. At Multi Commodity Exchange lead for delivery in September went higher by 30 paisa or 0.18 per cent to Rs 163.10 per kg in a business turnover of 631 lots.
Similarly the metal for delivery in September contracts traded higher by 25 paisa or 0.15 per cent to Rs 162.90 per kg in 617 lots. Analysts attributed the rise in lead futures to fresh positions from traders after uptick in demand from battery makers in the spot market.

lead4

To Get Free Trial on Commodity Market Tips, Mcx Trading Tips give

Missed call @8817002233, WHATSAPP NO.8602780449

Mail Us = starindiamarket@gmail.com

visit = https://www.starindiaresearch.com/mcx-tips.php

COMMODITY OUTLOOK on Silver Market

Silver:-

Silver futures rose nearly one percent in American trade to the highest since November 27 as the dollar index hit the lowest since September 22 amid a lack of data from the US and ahead of important Chinese data on Sunday. Markets await important Chinese data on Sunday with the manufacturing PMI expected to drip to 51.6 for December while the Services PMI is forecast to steady at 54.8 with no change. Silver is heading for the longest daily winning streak in two months after rising for the fifth straight session and the longest weekly winning streak in four months as the dollar goes for the worst yearly performance since 2007. Global markets were closed on Monday for Christmas while last week President Donald Trump signed into law the $1.5 trillion tax reform bill which cuts the corporate tax rate from 35% to 21%.

silver

To Get Free Trial
Missed call @8817002233
Mail Us – starindiamarket@gmail.com
visit – https://www.starindiaresearch.com/mcx-tips.php

MCX Commodity Market Tips-Gold Rate Today: Gold, silver edge higher in morning trade

Gold prices were trading higher in morning trade on Thursday as the dollar fell to a four-week low. MCX Gold futures were up 98 points, or 0.34 per cent, at Rs 29,040 per 10 gram at around 11 am (IST).

Similarly, silver was also trading in the green. MCX Silver futures were up 0.30 per cent, or Rs 117, at Rs 38,790 per 1 kg at around the same time.

gold-silver-ts

Angel Commodities said, “We expect gold prices to trade higher on Thursday continuing its positive momentum in line with weakness in the Dollar index.”

The dollar was on the defensive on Thursday, facing headwinds from a dip in U.S. 10-year bond yields, while commodity-linked currencies were bolstered by this week’s rally in metal and oil prices.

Meanwhile, domestic equity markets were trading flat ahead of the expiry of December derivatives contracts.

The Nifty reclaimed the 10,500-mark and BSE barometer Sensex was up 17 points at 33,929 in morning deals.

The local currency rupee was trading nearly 3 paise down at 64.18 against dollar on account of month-end demand for the US currency by banks and importers.

To Get Free Trial on Commodity Market Tips, Mcx Trading Tips give

Missed call @8817002233, WHATSAPP NO.8602780449

Mail Us = starindiamarket@gmail.com

visit = https://www.starindiaresearch.com/mcx-tips.php

STARINDIA Research MCX Base Metal UPDATE

UPDATE:-

KINDLY BOOK PARTIAL PROFIT IN ZINC SELL CALL 1ST TGT 203 HAS ACHIEVED. PROFIT RS.5000/- IN 2 LOTS

zinc 5

To Get Free Trial
Missed call @8817002233
Mail Us – starindiamarket@gmail.com
visit – https://www.starindiaresearch.com/mcx-tips.php

Commodity Market Trading Tips-Gold rate today: Gold, silver down in morning trade

Gold and silver were trading in the red in morning trade on Tuesday on account of subdued demand of precious metals from jewellers, industries, retailers and investors.

MCX Gold futures were down 0.11 per cent, or Rs 30, at Rs 28,440 per 10 gram at around 10.40 am (IST). MCX Silver futures were down 0.19 per cent, or Rs 71, at Rs 37,470 per 1 kg at around the same time.

Gold Bullion

Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.8 per cent to 837.20 tonnes on Monday.

According to SMC Investments and Advisors, bullion counter may trade with mixed bias as movement of greenback and risk sentiment to give further direction to the prices.
“Gold can move in range of Rs 28,200-28,600 while silver can move in range of Rs 37,200-37,700 in near term,” said SMC Investments in a research note.

On the other hand, Angel Commodities said, “We expect gold prices to trade sideways on Tuesday taking in to consideration the tax overhaul that is due on December 22, 2017 in the US.”

Meanwhile, domestic equity markets were trading higher in morning trade after the BJP’s electoral success in Gujarat and Himachal Pradesh. The BSE Sensex was up 105 points, or 0.31 per cent, at 33,706.99, while NSE Nifty index was up 32 points, or 0.31 per cent, at 10,420 at around the same time.

To Get Free Trial on Commodity Market Tips, Mcx Trading Tips give

Missed call @8817002233, WHATSAPP NO.8602780449

Mail Us = starindiamarket@gmail.com

visit = https://www.starindiaresearch.com/mcx-tips.php