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

Precious metals gold and silver were trading in the red on Friday.

MCX Gold futures were trading 0.34 per cent, or Rs 106 lower at Rs 30,725 per 10 grams at 11:06 am (IST), while MCX Silver futures were up 0.57 per cent, or Rs 228, at Rs 39,676 per 1 kg the same time.

commodity gold

SPDR Gold Trust GLD, the world’s largest gold-backed exchange-traded fund, said its holdings stood at 847.03 down 4.42 tonnes, from the previous business day.

Holdings of the largest silver-backed exchange-traded-fund (ETF), New York’s iShares Silver Trust SLV, stood at 10016.55 tonnes, remain unchanged from the previous business day.

Nirmal Bang Securities in its daily report says, “Precious metals are trading lower on COMEX today. We expect prices to trade rangebound to higher for the day, as concerns over a global trade war increased after the United States imposed tariffs on steel and aluminium imports from Canada, Mexico and the European Union.”

On the global front, gold prices edged higher as concerns over a global trade war escalated.

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Today’s Commodity Market Trading-Base Metals: Copper, nickel down on low demand

Nickel futures traded 0.60 per cent lower at Rs 932 per kg today as participants reduced exposure amid weak global cues and profit-booking.

At the Multi Commodity Exchange, nickel for delivery in June fell Rs 5.60, or 0.60 per cent, to Rs 932 per kg, in a business turnover of one lot.

Also, the metal for delivery in May was trading down Rs 4.60, or 0.49 per cent lower, at Rs 929.50 per kg in 230 lots.

Market analysts said, apart from profit-booking by participants, a weak trend in select base metals overseas, weighed on nickel futures.

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Zinc
Zinc prices were up by 0.54 per cent to Rs 205.30 per kg in futures market today as participants enlarged positions, tracking a firm trend at spot market.

At the Multi Commodity Exchange, zinc for delivery in May rose by Rs 1.10, or 0.54 per cent to Rs 205.30 per kg in business turnover of 789 lots.

Likewise, the metal for delivery in June contract was up by Rs 1.05, or 0.51 per cent to Rs 205.65 per kg in 8 lots.

Analysts said expanding of positions by traders backed by rising demand from consuming industries in the physical market, led to the rise in zinc prices at futures trade.

Copper
Copper prices dipped by 0.36 per cent to Rs 453.80 per kg in futures trade today as speculators indulged in reducing their positions amid low demand from consuming industries in the spot markets weighing on the prices.

Besides, a weak trend in select base metals overseas as tariff woes between the US and China returned, ahead of trade talks between the two countries, too put pressure on copper prices.

At the Multi Commodity Exchange, copper for delivery in June fell by Rs 1.65 or 0.36 per cent to Rs 453.80 per kg in business turnover of 388 lots.

Likewise, the metal for delivery in far-month August traded lower by Rs 1.60, or 0.35 per cent to Rs 457.65 per kg in three lots.

Globally, three-month copper at the London Metal Exchange (LME) was down down 0.1 per cent to USD 6,810.50 a tonne, having closed up 1.1 per cent in the previous session, as a firm dollar weighed on prices.

Analysts attributed the fall in copper prices at futures trade to a weak trend in base metals at the domestic spot markets due to low demand from consuming industries.

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COMMODITY OUTLOOK on Gold Market

Gold:-

The trend of Gold is Bearish. Gold remained bearish this week due to ending of the trade war between China & US, and the movement remained range bound of 31430-31126. Gold fell down by 231 points and ended at 31219 in this week as compare to last week closing of 31450. We expect a continue pressure on the prices of the Gold in coming days as the Dollar index is getting stronger due to positive global cues. Sell on Highs strategy would be better to follow for next week.

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Today’s Commodity Market Tips-Gold Rate Today: Gold, silver prices fall in morning deals

Precious metals gold and silver were trading in the negative territory in the late morning deals on Thursday as minutes from the Federal Reserves’ last policy meeting raised expectations for a faster pace of US rate hikes. MCX Gold futures were trading 0.24 per cent, or Rs 73 lower at Rs 31,282 per 10 grams at 11 am (IST), while MCX Silver futures were down 0.47 per cent, or Rs 185, at Rs 38,996 per 1 kg at the same time.

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MCX Gold futures were trading 0.24 per cent, or Rs 73 lower at Rs 31,282 per 10 grams at 11 am (IST), while MCX Silver futures were down 0.47 per cent, or Rs 185, at Rs 38,996 per 1 kg at the same time.

SPDR Gold Trust GLD, the world’s largest gold-backed exchange-traded fund, said its holdings stood at 859.99 tonnes, remain unchanged from the previous business day.

Holdings of the largest silver-backed exchange-traded-fund(ETF), New York’s iShares Silver Trust SLV, stood at 9959.22 tonnes, remain unchanged from the previous business day.

On the global front too, gold prices eased off multi-week highs on Thursday. Gold on Wednesday rose to $1,365.23 per ounce, its highest since January 25, buoyed by escalating tensions in Syria, US sanctions on Russia and the US-China trade spat.

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STARINDIA Research MCX Base Metal Tips UPDATE: Missed Call@8817002233

UPDATE:-

KINDLY BOOK PART PROFIT IN GOLD (30615) SELL CALL, OUR 1ST TGT 30565 HAS ACHIEVED.

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STARINDIA Research MCX Base Metal Tips UPDATE: Missed Call@8817002233

UPDATE:-

KINDLY BOOK PART PROFIT IN GOLD (30649) SELL CALL, OUR 1ST TGT 30600 (30601) HAS ACHIEVED.

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कमोडिटी मार्केट: कच्चे तेल की तेजी पर ब्रेक, क्या करें

अमेरिका में भंडार बढ़ने से कच्चे तेल की तेजी पर ब्रेक लग गई है। ब्रेंट का दाम 70 डॉलर के नीचे फिसल गया है। इसमें करीब 0.5 फीसदी की गिरावट के साथ कारोबार हो रहा है। दरअसल कल अमेरिकी पेट्रोलियम इंस्टीट्यूट की इन्वेंट्री रिपोर्ट आई थी जिसके मुताबिक अमेरिका में क्रूड का भंडार 53 लाख बैरल बढ़ गया है। आज वहां एनर्जी डिपार्टमेंट की भी रिपोर्ट आएगी, जिसपर बाजार की नजर बनी हुई है।

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सोने और चांदी में सुस्त कारोबार हो रहा है। हालांकि कल की गिरावट के बाद सोना फिर से संभलने की कोशिश कर रहा है। इसका दाम 1350 डॉलर के नीचे आ गया है। जहां से हल्की बढ़त के साथ कारोबार कर रहा है। वहीं चांदी का भाव करीब 0.5 फीसदी चढ़ गया है। डॉलर में नरमी से आज लंदन मेटल एक्सचेंज पर बेस मेटल में भी बढ़त पर कारोबार हो रहा है।

एग्री की बात करें तो चना और सरसों एमएसपी से काफी नीचे हैं। इसीलिए किसानों को राहत के लिए  राजस्थान में सरसों और चना खरीद की तैयारियां कमोबेश पूरी हो गई हैं। अगले हफ्ते यानि सोमवार से प्रदेश में सरकार चना और सरसों की खरीद शुरू कर देगी। 8 लाख टन सरसों और 4 लाख टन चना खरीदने की योजना है। मध्यप्रदेश सरकार ने भी किसानों से एमएसपी पर सरसों और चना खरीदने का फैसला किया है। ये दोनों राज्य चना और सरसों की खेती के बड़े उत्पादक हैं। वैसे आज सरसों में तेजी लौटी है और इसका दाम करीब 0.5 फीसदी बढ़ गया है। वहीं चने की गिरावट भी थम गई है। इस बीच ग्वार में गिरावट गहरा गई है। इसका दाम पिछले 4 महीने के निचले स्तर पर आ गया है।

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