Tuesday, 17 October 2017

Agri-commodity News - Cardamom falls, crude palm oil rises

Cardamom prices drifted down by Rs 18.90 to Rs 1,050.30 per kg in futures market today as traders trimmed holdings amid sluggish demand at the spot market. 

Besides, adequate stocks position following increased arrivals from producing regions too fuelled the downtrend. 

At the Multi Commodity Exchange, cardamom for delivery in far-month January next year declined by Rs 18.90, or 1.77 per cent, to Rs 1,050.30 per kg, in a business turnover of just one lot. 

The spice for delivery in November was trading down by Rs 7.40, or 0.72 per cent, to Rs 1,018 per kg, with a trading volume of 50 lots. 

Crude palm oil -

Crude palm oil prices were up by 0.31 per cent to Rs 539.10 per 10 kg in futures trade today as traders created fresh positions, supported by pick up in demand at the spot market. 

In futures trading at the Multi Commodity Exchange, crude palm oil for delivery this month rose by Rs 1.70, or 0.31 per cent, to Rs 539.10 per 10 kg, in a business turnover of 55 lots. 

Similarly, the oil for delivery in November went up by Rs 1.50, or 0.28 per cent, to Rs 535.60 per 10 kg in 37 lots.

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Monday, 16 October 2017

Base metals: Copper and lead rise; nickel falls

Amid a firming global trend and pick up in spot demand, copper prices moved up by 0.81 per cent to Rs 451.60 per kg in FUTURES TRADE today. 

At the Multi Commodity Exchange, copper for delivery in November was up by Rs 3.65, or 0.81 per cent, to Rs 451.60 per kg, in a business volume of 2,831 lots

Nickel 

Nickel futures traded 0.49 % down at Rs 752.50 per kg today as speculators reduced their exposure, tracking a weak trend at the domestic spot markets due to low demand.

Besides, profit-booking weighed on the sentiment. 

The metal for delivery in November too fell by a similar margin to trade at Rs 758.20 per kg in 68 lots. 

Lead 

Lead futures rose by 0.79 per cent to Rs 165.10 per kg today on the back of strong demand in spot market and a firming trend in global market. 

In FUTURES TRADING at the Multi Commodity Exchange, lead for delivery in October traded higher by Rs 1.30, or 0.79 per cent, at Rs 165.10 per kg, with a turnover of 6,556 lots. 

Also, the metal for delivery in November traded up by Rs 1.15, or 0.70 per cent, at Rs 165.60 per kg, in a turnover of 25 lots.

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Saturday, 14 October 2017

Commodity News - Oil prices rise amid geopolitical tensions

Oil prices rose on Friday, as turmoil in the Middle East underpinned the market.

The West Texas Intermediate for November delivery on Friday increased $0.85 to settle at $51.45 a barrel on the New York Mercantile Exchange, while Brent crude for December delivery rose $0.92 to close at $57.17 a barrel on the London ICE Futures Exchange, Xinhua news agency reported.

US President Donald Trump announced on Friday that he had decided to decertify Iran's compliance with the landmark deal reached in 2015.

Analysts said unrest in the Middle East and possible US action on the Iran nuclear deal boosted the oil prices, as traders feared geopolitical tensions could cut off oil exports from the region.

On the data front, the number of rigs operating in US oil fields fell by 5 to a total of 743 rigs this week, oilfield service firm Baker Hughes said in its weekly report on Friday.

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Wednesday, 11 October 2017

MCX Market News - Gold holds steady ahead of Fed minutes

Gold stood little changed on Wednesday after the dollar recouped early losses, with investors awaiting the release of the U.S. Federal Reserve's minutes from its September meeting for clues on further interest rate hikes this year.

Spot gold was unchanged at $1,287.70 an ounce by 0409 GMT. It touched its highest level since Sept. 27 in the previous session.

U.S. gold futures for December delivery eased 0.3 percent to $1,290 per ounce.

Asian shares rose on Wednesday, tracking Wall Street's rally to all-time highs, and the dollar pared early losses ahead of the release of the minutes from the Fed's September policy meeting later in the day, with a buoyant euro keeping a check on its gains.

Markets are widely expecting the U.S. central bank to raise rates in December, for a third time this year.

Gold is highly sensitive to rising interest rates, as these increase the opportunity cost of holding non-yielding bullion, while boosting the dollar in which the metal is priced.

In other precious metals, silver rose 0.2 % to $17.11 an ounce, having hit a three-week high in the previous session.

Platinum was up 0.2 % at $931.10 an ounce and palladium was trading 0.3 percent higher at $935.85 an ounce.

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Tuesday, 10 October 2017

Today's Market Update - Gold marks over 1-week high

Gold prices inched up to their highest in more than a week on Tuesday, drawing support from geopolitical tensions and a softer dollar, but expectations of another US Federal Reserve interest rate hike this year curbed upside momentum. 

Spot gold was up 0.3 % at $1,287.31 an ounce by 0653 GMT, after touching its highest since late September at $1,288.70 earlier in the session. 

US gold futures for December delivery climbed 0.4% to $1,290 per ounce. 

Russia and China called for restraint on North Korea on Monday after Trump warned over the weekend that "only one thing will work" in dealing with Pyongyang, hinting that military action was on his mind. 

A softer dollar on Tuesday was also lending support but growing expectations that the Fed would raise interest rates again this year kept a check on gold's gains. 

Fed funds futures showed traders were pricing in a nearly 90% chance of a rate hike in December. 

Higher interest rates tend to boost the dollar and weigh on the greenback-denominated gold. 

In other precious metals, silver rose 0.6 % to $17.04 an ounce, having hit a two-week high of $17.08 earlier. 

Platinum was up 0.7 % at $917.75 an ounce and palladium was 0.4 per cent higher at $933 an ounce. 

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Monday, 9 October 2017

कमोडिटी बाजारः सोना-चांदी फिर से चमके

सोने और चांदी में आज रिकवरी आई है। घरेलू बाजार में दोनों में करीब 0.5 फीसदी ऊपर कारोबार हो रहा है। दरअसल अमेरिका और उत्तर कोरिया के बीच फिर से तनाव बढ़ गया है। फिलहाल एमसीएक्स पर सोना 0.6 फीसदी बढ़कर 29,740 रुपये पर कारोबार कर रहा है। चांदी करीब 1 फीसदी की मजबूती के साथ 39,930 रुपये पर कारोबार कर रही है।

बेस मेटल में भारी उठापटक हो रहा है। फिलहाल एमसीएक्स पर कॉपर सपाट होकर 438.75 रुपये पर कारोबार कर रहा है। हालांकि निकेल 1.5 फीसदी की मजबूती के साथ 703.2 रुपये पर कारोबार कर रहा है। वहीं, एल्युमिनियम 0.1 फीसदी की मामूली बढ़त के साथ 140 रुपये पर कारोबार कर रहा है। लेड 0.6 फीसदी की गिरावट के साथ 165 रुपये पर कारोबार कर रहा है। जिंक 0.3 फीसदी बढ़कर 214.7 रुपये पर कारोबार कर रहा है।

सोयाबीन में जोरदार गिरावट आई है। वायदा में इसका दाम करीब 2 महीने के निचले स्तर पर आ गया है। दरअसल मंडियों में सोयाबीन की आवक शुरू हो गई है। इंदौर में नई आवक एमएसपी से काफी नीचे बिक रही है। इस बीच मध्य प्रदेश सरकार ने करीब 130 तहसीलों को सूखा घोषित कर दिया है। राज्य के 23 इलाकों के इन तहसीलों में सामान्य से कारीब 40 फीसदी तक कम बारिश हुई है। ऐसे में सोयाबीन इंडस्ट्री ने देश में सोयाबीन की पैदावार करीब 20 फीसदी घटने की आशंका जताई है।

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Friday, 6 October 2017

Base metals: Copper, nickel rise on global cues

Beyond by positive global cues and high domestic demand, copper prices rose 0.17 % to Rs 440.40 per kg in FUTURES TRADE today.


At the Multi Commodity Exchange, copper for delivery in November rose by 75 paise or 0.17 per cent to Rs 444.40 per kg in a business turnover of 44 lots. 

The metal for delivery in far-month February also was up by 70 paise or 0.16 % to Rs 440.30 per kg in a business volume of 1,925 lots. 


Globally, Copper for delivery in three months ended 2.7% higher at USD 6,700 per tonne at the LME in yesterday's trade.

Nickel prices went up by 0.79 % to Rs 702 per kg in Futures trade today as speculators widened positions, driven by pick-up in demand at the domestic spot markets and a firm trend overseas. 

In FUTURES TRADING at the Multi Commodity Exchange, nickel for delivery in November was trading higher by Rs 5.50, or 0.79 %, to Rs 702 per kg in a business turnover of 13 lots. 

Similarly, the metal for delivery in October was trading higher by Rs 5.20, or 0.75% , to Rs 695.50 per kg in 13 lots.

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