Thursday, 25 August 2016

Today Live Gold Silver Market News ; Silver Bull Run Just Getting Started

Climbing for the second straight day, gold prices advanced by Rs 50 to Rs 31,250 per 10 grams today on increased buying by jewellers at the domestic spot market amid positive global cues. For more Latest Live Indian Commodity Market News and free bullion trading tips just click here www.marketmagnify.com/freetrial.php or give a One Missed Call @7879881122.

Commodity Market Fundamentals show the bull run has just started in silver and investors should keep patient to reap multi-fold gain in this precious metal. 

Gold logs modest gains on jewellers' buying, overseas trend : 
Globally, gold rose 0.15 per cent to $1,338.90 an ounce, sovereign, remained unchanged at Rs 24,300 per piece, In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose further by Rs 50 each to Rs 31,250 and Rs 31,100 per 10 grams, respectively. It had gained Rs 150 on Tuesday. Sovereign, however, remained unchanged at Rs 24,300 per piece of eight grams in limited deals.

On the other hand, silver ready dropped Rs 325 to Rs 45,075 per kg and weekly-based delivery Rs 290 to Rs 44,490 per kg. Silver coins, however, held steady at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces. However, silver retreated Rs 325 to Rs 45,075 per kg because of reduced off-take by industrial units and coin makers.

It has been a good year for precious metals, particularly for gold and silver. If we look at gold, it has performed 28 per cent while silver has out shined gold and gained by nearly 40 per cent year to date.

Wednesday, 24 August 2016

Commodity Market ; Gold Prices Hold up Well, Silver remains Vulnerable

This morning the base metals remain little changed, zinc is off 0.4 percent at $2,293, nickel is up 0.2 percent and the rest are between plus or minus 0.1 percent. Volume has picked up to 4,330 lots, up from an average of 3,013 lots last week. For more Latest Live Indian Commodity Market News and free bullion trading tips just click here www.marketmagnify.com/freetrial.php or give a One Missed Call @7879881122.

Precious metals are mixed, gold prices are off 0.1 percent, silver is little changed, while the PGMs are up around 0.4 percent. Equities turned bullish again yesterday with the Euro Stoxx 50 up 1.1 percent, the Dow closed up 0.1 percent, but this morning Asia is mixed. The Nikkei is up 0.5 percent, the ASX 200 is up 0.1 percent, the CSI 300 is off 0.1 percent, the Kospi is down 0.3 percent and the Hang Seng is down 0.8 percent.

Gold was trading in a narrow range on Wednesday as investors waited for clues on whether the US Federal Reserve would hike interest rates this year. Spot gold was flat at $1,337.30 an ounce at 0335 GMT. US gold slipped 0.3 per cent to $1,341.60 an ounce. Spot gold may revisit its August 22 low of $1,331.35 within the next 24 hours, according to Reuters technical analyst Wang Tao.

Tuesday, 23 August 2016

Live Commodities Buzz: Indian Crude Oil Basket Above $48 Levels


The prices of Crude Oil finally hit road blocks as traders started booking profits after six consecutive days of gains. Crude Oil declined 2.3% to Rs 3216 per barrel. The resistance zone for Crude Oil is strong with Crude Oil at Rs 3300 per barrel. The prices of Crude Oil are supported at Rs 3150 per barrel. For more Latest Live Indian Commodity Market News and free bullion trading tips just click here www.marketmagnify.com/freetrial.php or give a One Missed Call @7879881122.

The international crude oil price of Indian Basket as computed today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 48.02 per barrel (bbl) on 19.08.2016. This was higher than the price of US$ 47.75 per bbl on previous publishing day of 18.08.2016. 

In rupee terms, the price of Indian Basket increased to Rs. 3213.73 per bbl on 19.08.2016 as compared to Rs. 3189.36 per bbl on 18.08.2016. Rupee closed weaker at Rs. 66.93 per US$ on 19.08.2016 as against Rs. 66.79 per US$ on 18.08.2016.

COMEX Gold dropped further yesterday, extending its recent spree of losses on Fed rate hike worries. The metal tested its three week low. A quick surge in US dollar and concomitant drop in commodities also weighed on the yellow metal.

Mild buying has emerged in Asia though and the commodity currently trades at $1342 per ounce, almost unchanged on the day. MCX Gold futures ended around Rs 31380 per 10 grams yesterday and are likely to see a muted session today. Lows around Rs 31200 can trigger some buying.

Monday, 22 August 2016

Live Commodity Market ; Gold Hits One-Week Low on US Rate Hike Prospects

Gold fell on Monday to its lowest in over a week as the dollar strengthened after comments from U.S. Federal Reserve officials increased bets on a US rate hike this year.Festive demand, 7th Pay Commission payout will boost gold, year end target Rs 35,000. For more Latest Live Indian Commodity Market News and free bullion trading tips just click here www.marketmagnify.com/freetrial.php or give a One Missed Call @7879881122.

GOLD FUNDAMENTALS :-
* Spot gold was down 0.3 percent at $1,337.12 an ounce at 0101 GMT, after touching a low of $1,334.20, a level not seen since Aug. 12. * U.S. gold dropped 0.4 percent to $1,341.20 an ounce.
* The Fed is close to hitting its targets for full employment and 2 percent inflation, the Fed’s No. 2 policymaker Stanley Fischer said on Sunday in comments that did not address when the U.S. central bank should next raise interest rates.
* New York Fed President William Dudley said last week a rate hike would be possible at the Fed’s next policy meeting in September, though interest rate futures contracts indicate that market is pricing in about 50/50 odds of an increase in December.
* Amid conflicting signals from the Fed in recent days, central bankers from around the world will gather from Aug. 25 for an annual meeting in the mountains of Jackson Hole, Wyoming, with Chair Janet Yellen due to speak the following day.
* Japanese companies overwhelmingly say the government’s latest stimulus will do little to boost the economy and the Bank of Japan should not ease further, a Reuters poll showed, a setback for policymakers’ efforts to overcome deflation and stagnation.
* The dollar index, which tracks the greenback against a basket of six major rivals, was up 0.3 percent in early trade at 94.796, pulling away from last week’s low of 94.077, which was its weakest since June 24.

Wednesday, 17 August 2016

Today Market News ; Coal becomes One Of the Hottest Commodities of 2016

Less than a year after the coal industry was declared to be in terminal decline, the fossil fuel has staged its steepest price rally in over half a decade, making it one of the hottest major commodities. For more Latest Live Indian Commodity Market News and free bullion trading tips just click here www.marketmagnify.com/freetrial.php or give a One Missed Call @7879881122.

Cargo prices for Australian thermal coal from its Newcastle terminal, seen as the Asian benchmark, have soared over 35 percent since mid-June to more than one-year highs of almost $70 a tonne, pushed by surprise increases in Chinese imports. “Chinese regulators have assumed the role that markets traditionally play in bringing oversupplied commodities back to balance,” Goldman Sachs said in a note to clients late on Tuesday, reversing a gloomy outlook it issued last September.

Gold‬ demand in India expected to pickup in second half of 2016:
The global economic crisis will continue to drive the demand for gold and silver worldwide. Bullion experts at the India International Gold Convention (IIGC) organized by Foretell Business Solutions Ltd. 

Unanimously expressed that global demand will continue to remain strong, and price higher. Ultra-low real interest rates in the USA and elsewhere will continue to drive the demand for both the metals globally. Gold is expected to remain above $1270 per ounce, while silver will continue to remain above $17 per ounce in London market.

“In India, demand will pick up in the second half of calendar 2016 after a dismal first half. High unofficial imports, high price, imposition of excise duty and subsequent strike by jewellers had impacted the demand of gold in the first half. Demand is expected to come back and price discounts expected to narrow from October. 

Tuesday, 16 August 2016

Today Live Commodity Market News ; Gold Stays Up On Global Cues

Gold prices advanced for a second day by gaining Rs 55 to Rs 31,130 per 10 grams at the bullion market today, tracking a firming trend overseas amid increased buying by jewellers to meet rising demand from retailers at domestic spot market. For more Latest Live Indian Commodity Market News and free bullion trading tips just click here www.marketmagnify.com/freetrial.php or give a One Missed Call @7879881122.

Silver also recovered by Rs 500 to Rs 47,000 per kg due to increased offtake from coin makers and other consuming industries. Traders said a firming trend overseas where gold advanced amid speculation that the US central bank will be slow to raise interest rates, with investors counting down to the release of the Federal Reserve's minutes of its July meeting as the dollar declined, mainly buoyed the sentiment here.

Globally, gold rose 0.6 percent to USD 1,347.16 an ounce and silver by 0.56 percent to USD 19.85 an ounce in Singapore. Besides, an increased buying by jewellers to meet festive season demand from retailers at domestic spot markets supported the upside, they said. In the national capital, gold of 99.9 percent and 99.5 percent purity gained Rs 55 each to Rs 31,130 and Rs 30,980 per 10 grams respectively. It had edged up by Rs 25 in Saturday's trade.

Sovereign, however, remained steady at Rs 24,300 per piece of eight grams. Tracking gold, silver ready rebounded by Rs 500 to Rs 47,000 per kg while weekly-based delivery by Rs 625 to Rs 46,750 per kg. Silver coins, however, remained flat at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

Friday, 12 August 2016

Friday Commodity Market ; Asia Gold-Elevated Prices Curb Demand in India

Gold remained weak for the second day by losing Rs 75 to Rs 31,050 per 10 grams at the bullion market today largely in line with a weakening global trend amid sluggish demand from jewellers at domestic spot market. For more Latest Live Indian Commodity Market News and free bullion trading tips just click here www.marketmagnify.com/freetrial.php or give a One Missed Call @7879881122.

Silver followed suit and lost Rs 100 to Rs 46,850 per kg. Traders said sentiment remained bearish on the back of a weakening global trend where gold declined as speculation that central banks will remain supportive of growth underpins gains in global equities, curbing demand for a haven. Globally, gold fell 0.04 percent to USD 1,337.70 an ounce in Singapore.

Furthermore, easing demand from jewellers as well as retailers at the domestic spot market fuelled the downtrend, they said. In the national capital, gold of 99.9 percent and 99.5 percent purity declined by Rs 75 each to Rs 31,050 and Rs 30,900 per 10 grams, respectively. The precious metals had lost Rs 155 in yesterday's trade. 

Sovereign, however, remained steady at Rs 24,300 per piece of eight grams. Following gold, silver ready traded lower by Rs 100 to Rs 46,850 per kg and weekly-based delivery by Rs 275 to Rs 46,555 per kg. Silver coins, however, remained unaltered at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

Physical gold demand in Asia was muted this week as higher prices turned off buyers, with discounts in India widening ahead of a festive season that could spur appetite in the world’s second largest consumer. Gold, often perceived as a hedge against financial uncertainties, has risen about 26 percent this year to trade at $1,339 an ounce on Friday.