Tuesday, 30 June 2015

Daily Commodity Market News and Trading Tips

Gold rose as growing fears over the prospect of a Greek debt default battered European shares and weighed on the euro.

Silver prices ended with losses as prices struggled to hold its gains seen by safe haven bids as Greece heads close to a debt default.

Crude oil dropped as Greece shut its banks and imposed capital controls, causing investors to flee from riskier assets and darkening the demand outlook.

Natural gas prices erased losses to end higher as investors monitored shifting weather forecasts to gauge the strength of demand for the fuel in the near-term.

Copper prices edged lower after last ditch Greek debt negotiations broke down over the weekend.

Zinc prices ended with losses skidded as risk aversion over Greece compounded selling pressure set off by weak demand.

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Friday, 26 June 2015

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Gold eased as traders awaited further news on Greece's negotiations with its creditors, while caution over the metal's longer-term outlook weighed on interest.

Silver prices dropped after data showed that U.S. personal spending rose more than expected in May, boosting optimism over the health of the economy.

Crude oil fell weighed by weaker U.S. refined fuels markets and potential negative impact from Greece's debt crisis on European energy demand.

Natural gas rallied to settle above 180 as data showing that U.S. natural gas supplies rose less than expected last week.

Copper dropped weighed down by a looming summer demand slowdown and as concerns over Greece weighed on the economic picture.

Zinc ended with small losses as investors remained cautious as Greece debt crisis issue continues.

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Thursday, 25 June 2015

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Crude Oil
Oil prices declined on both sides of the Atlantic with WTI and Brent oil falling by 1.2 and 1.5 percent respectively. U.S. crude oil inventories fell last week, while gasoline sticks rose unexpectedly during summer driving season, data from the Energy Information Administration (EIA) showed on Wednesday.

On the MCX, oil prices declined by 2 percent to close at Rs.3830/bbl.

Natural Gas
NYMEX natural gas prices rose by 1.46 percent on Wednesday to close at $2.78/MMbtu while MCX gas prices rose by 0.52 percent to close at Rs.174.80/MMbtu.

Outlook
Crude inventories decline for eight consecutive session in a row is a positive signal on the demand side, however, the gasoline inventories buildup for two weeks in a row raises alarm. Greece situation and its outcome will also have bearing on oil prices.

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Wednesday, 24 June 2015

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Gold
Spot gold prices declined by 0.57 percent on Tuesday to close at $1177.9/oz as equities rallied on hopes that Greece would reach a deal with its creditors to stave off default.

On the MCX, gold prices declined by 0.63 percent to close at Rs.26597/10 gms.

Silver
Spot silver prices declined by 2.1 percent on Tuesday to close at $15.8/oz. Strengthening dollar coupled with weakness in gold prices acted as a negative factor for silver prices.

On the MCX, silver prices declined by 2.13 percent to close at Rs.36493/kg.

Outlook
On an intraday basis, we expect gold and silver prices to trade lower on profit booking at higher levels coupled with strengthening dollar. Prospects of rise in the interest rates in the US will also exert downside pressure on prices. Meanwhile, the meeting between Greece minister and IMF will be crucial for further price trajectory.

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Monday, 22 June 2015

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Gold
Spot gold prices traded positive last week as weak dollar index coupled with the Greek Debt crisis led to the safe haven demand. This comes after the collapse of talks aimed at preventing a default and possible euro exit, prompting Germany's EU commissioner to say the time had come to prepare for a "state of emergency".

In the international markets, spot gold prices rose by 1.65 percent last week and closed at $1199.76/oz. On the MCX, gold prices rose by 0.7 percent last week and closed at Rs.27081/10 gms.


Silver
Last week, spot silver prices in the international markets traded higher in line with positive momentum in gold prices, Weakness in dollar index acted as a positive factor for silver prices Spot silver prices in the international markets rose by 0.94 percent and closed at $16.07/oz.

On the MCX, silver prices rose by 0.24 percent and closed at Rs.36680/kg.

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Thursday, 18 June 2015

Best & Most Accurate Mcx Commodity Tips in Gold and Silver

Gold
On Wednesday, spot gold prices rose by 0.3 percent to close at $1185.1/oz after the Federal Reserve said the U.S. economy is likely strong enough to support an interest rate increase by the end of 2015, causing the dollar to extend losses.

On the MCX, gold prices declined by 0.28 percent to close at Rs.26880/10 gms. 

Silver
Spot silver prices rose by 0.6 percent on Wednesday to close at $16.1/oz. Weak dollar, strong gold prices acted as a positive factor. 

On the MCX, silver prices rose by 0.08 percent to close at Rs.37400/kg.

Outlook
Weak dollar, probable delay in interest rate hike, growth and optimism in the US economy are contrasting factors surrounding gold prices in the near term. On the other hand, weak investment demand as seen in the outflows from the SPDR gold trust will exert downside pressure on the yellow metal.

On the MCX, gold prices are expected to trade sideways taking cues from international markets.

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Wednesday, 17 June 2015

Latest Commodity News on Energy

Crude Oil
Oil prices rose on Tuesday with WTI and Brent gaining by 0.8 and 1.7 percent respectively as a tropical storm moved ashore in the oilproducing state of Texas, but global oversupply limited gains and pressured Brent futures.

On the MCX, oil prices rose by 0.8 percent to close at Rs.3849/bbl.

U.S. natural gas futures ended little changed on Tuesday after Tropical Storm Bill moved inland in Texas as forecasts for less demand offset forecasts for weaker production.

In fact, only about 4 percent of the nation's total gas comes from the offshore Gulf of Mexico, according to federal data, down from about 17 percent a decade ago when a storm in the Gulf would easily cause gas prices to spike.

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Tuesday, 16 June 2015

Best & Most Accurate Mcx Commodity Tips in Gold and Silver

Gold
Spot gold prices rose on Monday by 0.47 percent to close at $1185.9/oz weak U.S. dollar ahead of a Federal Reserve policy meeting while persistent uncertainty over Greece after debt talks with its creditors stalled underpinned prices.

On the MCX, gold prices rose by 0.5 percent to close at Rs.27029/10 gms.

Silver
Spot silver prices rose by 1.1 percent to close at $16.1/oz in tandem with rise in gold prices. Greece issue is acting as a positive factor for silver prices. 

On the MCX, silver prices rose by 1.36 percent to close at Rs.37588/kg.

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Crude Oil
Oil prices declined by 0.7 percent on Monday to close at $59.5/bbl as the Greek debt crisis raised concerns about demand for petroleum in Europe and as the U.N. started talks to try to bring peace to Yemen, where OPEC heavyweight Saudi Arabia is involved in a civil war.

On the MCX, oil prices declined by 1 percent to close at Rs.3818/bbl.

Natural gas
Natural gas prices rose by 5.1 percent on Monday to close at $2.91/MMbtu. MCX gas prices rose by 4.45 percent to close at Rs.185.40/MMbtu.

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Technical Levels for Base Metals

Base Metals
Base metals on the LME traded lower yesterday as talks between Greece and its creditors ended in failure, thereby raising concerns of Athens being unable to repay 1.6 billion Euros owed to the International Monetary Fund by the end of this month. Also, strength in the DX exerted pressure on prices.


Copper
LME Copper prices plunged by 1.6 percent on Monday and fell to $5815/tonne as concern that officials haven’t provided enough stimulus to revive the economy in China, the world’s top metals consumer led to bearish sentiment in the metal.

MCX copper prices fell by 1.4 percent and closed at Rs.375.5/kg on Monday.

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Monday, 15 June 2015

Best & Most Accurate Mcx Commodity Tips in Gold and Silver

MCX Gold Aug as seen in the weekly chart above has opened the week with gap up at 26,780 levels and at the starting of the week it rallied sharply and made a weekly high of 27,072 levels. Later on prices could not able to sustain on higher levels and corrected sharply towards the low of 26,790 levels. This week prices closed above the previous week’s closing of 26,721 levels and finally closed 0.65% higher at 26,894 levels.

MCX / Spot Gold Trading levels for the week

Trend: Sideways to Down

S1 – 26,500 / $ 1,163             R1 - 27,100 / $ 1,192


S2 - 26,000 / $ 1,140              R2 - 27,400 / $ 1,205


MCX Silver July as seen in the weekly chart above has opened the week at 37,130 levels and entire the week prices have corrected sharply and made a weekly low of 36,450 levels. This week prices have closed below the previous week’s closing of 37,010 levels and finally closed 1.12% lower at 36,594 levels. Technically prices have formed “Big Bearish candlestick pattern” which indicates further weakness.


MCX / Spot Silver Trading levels for the week

Trend: Down
S1 – 35,800 / $ 15.60           R1 - 37,000 / $ 16.20

S2 - 35,000 / $ 15.20            R2 - 37,800 / $ 16.50


MCX Copper July as seen in the weekly chart above has opened at 383.75 levels and the starting of the week prices rallied sharply and made a high of 391.25 levels. Later on as expected prices could not able to sustain on higher levels and corrected sharply and made a weekly low of 376.80 levels. This week prices closed below the previous week’s closing of 382.55 levels and finally closed 0.48% lower at 380.70 levels. Technically prices have formed “Big Bearish candlestick pattern” which indicates further weakness.


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MCX Crude Oil June as seen in the weekly chart above has opened the week at 3,762 levels and at the starting of the week prices rallied sharply and made a weekly high of 3,955 levels. Later on prices could not able to sustain on higher levels and corrected sharply towards the 3,835 levels. 

This week prices have closed above the previous week’s closing of 3,742 levels and finally closed 3.10% higher at 3,858 levels. Technically prices have formed “Bullish candlestick pattern” which indicates further strength.

MCX Natural Gas June as seen in the weekly chart above has opened the week at 167.60 levels and during the week open and low were the same levels. During this week prices rallied sharply and made a high of 187.10 levels. At the end of the week prices could not able to sustain on higher levels and corrected towards 176.30 levels. 

This week prices closed above the previous week’s closing of 166.90 levels and finally closed 6.35% higher at 177.50 levels. Technically, prices have formed “Bullish candlestick pattern” which indicates further strength.

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Technical Levels for Base Metals

MCX Copper July as seen in the weekly chart above has opened at 383.75 levels and the starting of the week prices rallied sharply and made a high of 391.25 levels. Later on as expected prices could not able to sustain on higher levels and corrected sharply and made a weekly low of 376.80 levels. This week prices closed below the previous week’s closing of 382.55 levels and finally closed 0.48% lower at 380.70 levels. Technically prices have formed “Big Bearish candlestick pattern” which indicates further weakness.

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Friday, 12 June 2015

Daily Updates about Gold and Silver in Commodity Market

Gold prices rose by 0.83 percent on Wednesday to close at $1186/oz bolstered by a softer dollar and worries over the Greek debt crisis, but a looming U.S. interest rate increase and outflows from bullion-backed funds capped the upside.

Greece said on Wednesday its international creditors had failed to respond to its latest proposal on breaking an impasse over a cash-for-reforms deal.

On the MCX, gold prices rose by 0.38 percent to close at Rs.26971/10 gms.

Silver
Spot silver prices rose by 0.2 percent to close at $16/oz in line with strength in gold \ prices. Dollar weakness by half a percent and strength in the base metals pack acted as a positive factor.

On the MCX, silver prices rose by 0.4 percent to close at Rs.37269/kg.

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Crude Oil
Crude oil prices rose on Wednesday with WTI and Brent gaining by 2.1 and 1.3 percent respectively as a big U.S. stocks drawdown boosted the outlook for summer fuel demand.

On the MCX, oil prices rose by 0.9 percent to close at Rs.3887/bbl.

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News and Research on Mcx Base Metals

Base metals on the LME except Lead and Zinc traded higher yesterday as investors awaited industrial production data from China that’s forecast to show an improvement in activity from the weakest in more than six years.

Zinc was the biggest loser in the last session with prices declining by 0.8 percent while Nickel gained the most by 1.2 percent.

On the MCX, all the base metals apart from Lead and Zinc rose in line with strength in the international markets.

Copper
LME Copper prices jumped by 1.1 percent on Wednesday to close at $6030/tonne after Beijing doubled the quota allowing its provinces to swap debt for bonds to two trillion yuan, provided support to the metals. Also, weakness in the DX along with decline in LME Stocks by 0.9 percent acted as positive factors.

MCX copper prices surged by 0.8 percent and closed at Rs.388.1/kg on Wednesday.

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Wednesday, 10 June 2015

Daily Updates about Gold and Silver in Commodity Market

Gold
Spot gold prices rose by 0.23 percent to close at $1176.2/oz as European stock markets fell and commodities picked up across the board, but prices remained range bound as investors awaited clearer signals on the timing of an expected U.S. interest rate hike.


General strength in commodities also boosted gold, with benchmark Brent crude oil futures up 3.5 percent and copper prices also rising.

On the MCX, gold prices rose by 0.27 percent to close at Rs.26868/10 gms.



Silver
Spot silver prices rose by 0.2 percent to close at $15.9/oz in tandem with rise in gold prices. Weak dollar and strength in the base metals pack acted as a positive factor.

On the MCX, silver prices declined marginally by 0.01 percent to close at Rs.37417/kg.

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Tuesday, 9 June 2015

Daily Updates about Gold and Silver in Commodity Market

Gold
On Monday, spot gold prices rose marginally by 0.19 percent to close at $1173.5/oz on weak dollar and falling equities. Prices hovered near 11- week lows after Friday's jobs data fueled speculation that U.S. interest rates may rise in September.

On the MCX, gold prices rose by 0.9 percent to close at Rs.26795/10 gms.

Silver
Spot silver prices declined by 0.9 percent on Monday to close at $15.9/oz. The fall is in contrary to the rise in gold prices. Besides, weaker dollar and strong base metals pack did not provide any cushion to silver prices. 

On the MCX, silver prices declined by 0.46 percent to close at Rs.37422/kg.

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Crude Oil
Oil prices declined on Monday with WTI and Brent losing their value by 1.7 and 1 percent on slump in Chinese demand and worries that OPEC's decision to pump crude without restraint could prolong the current supply glut, although a weaker dollar limited losses.

On the MCX, oil prices declined by 0.3 percent to close at Rs.3731/bbl.

Natural gas
Natural gas prices on the NYMEX rose 5.08 percent on Monday due to bargain buying at lower levels while MCX gas prices also rose by 3.77 percent to close at Rs.173.20/MMbtu.

News and Research on Mcx Base Metals

Base Metals
On Monday, base metals on the LME (except aluminum) traded higher with Nickel the top gainer in the pack with rise of 2.2 while all the other metals rose marginally on account of weak dollar.

On the MCX, all the base metals (except aluminum) rose in line with weakness in the international markets.

Copper
On Monday, LME Copper prices rose by 0.2 percent to close at $5948/tonne. Weaker dollar and expectations that top metals consumer China will unleash further stimulus measures acted as a positive factor.

MCX copper prices rose by 0.3 percent and closed at Rs.383.6/kg on Monday.

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Monday, 8 June 2015

Daily Updates about Gold and Silver in Commodity Market

Gold
Spot gold prices traded lower last week initially buoyed by an unexpected stall in U.S. consumer spending and comments on interest rates from a Federal Reserve's official.

In the international markets, spot gold prices declined by 1.55 percent last week and closed at $1171.25/oz. On the MCX, gold prices declined by 1.14 percent last week and closed at Rs.26555/10 gms.

Silver
Last week, spot silver prices in the international markets traded lower in line with weakness in gold prices. Weakness in Copper prices acted as a negative factor for silver prices.

Spot silver prices in the international markets declined by 3.8 percent and closed at $16.06/oz. On the MCX, silver prices declined by 3.49 percent and closed at Rs.37010/kg.

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Crude Oil
NYMEX Oil prices traded lower last week concern over stubbornly high supplies as OPEC was expected to stick with robust production at its meeting.

Last week, WTI oil prices in the international markets declined by 1.94 percent and closed at $3.43/bbl. On the MCX, crude prices declined by 3.28 percent and closed at Rs.3742/bbl.

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News and Research on Mcx Base Metals

Base Metals
Last week, most of the base metals on the LME traded lower with Copper and Lead the top loser in the pack with decline of 1.4 and 1.2 percent followed by aluminum and Zinc which declined by 0.4 and 0.7 percent respectively.

Copper
Last week, LME Copper prices slipped below $6000/tonne on as prices traded below to a six week low and closed with a fall of around 1.4 percent hurt by signs of lackluster demand in China, the world's top user of the metal, and on risk aversion in wider financial and commodity markets.

MCX copper prices declined by 1.6 percent and closed at Rs.381.4/kg on Thursday.

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Friday, 5 June 2015

Commodity Market Gold and Silver Tips Provider

Gold was heading for a third weekly loss, hovering near its lowest levels in one month at Comex as of early morning trade today. Bullion traders largely awaited major clues from the monthly Jobs report today evening. As per expectations, Jobs addition in the US is anticipated to stay in the range of 225-230K staff in the month of May against a 223K reading last month.

We held selling view in Silver last day and overall view for day too remains on selling side. However, our technical study is suggesting that commodity in hourly charts had moved modestly to oversold phase and thus traders can either look at Gold over Silver for selling today or wait for small pullback and then only initiate shorts. Onto Gold/Silver Ratio, it moved higher on Thursday.

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Crude prices on Thursday, slumped more than 2.5% amidst speculation OPEC will maintain its production levels at meeting today.

WTI went down by 2.75% closing at $58.00/ barrel whereas Brent suffered almost equal losses closing at $62.03/ barrel for the July contract respectively.

Natural gas recorded another day of lower closing though losses last day were moderately less as already the commodity has slid heavily in past few sessions.

Weaker inventory data took toll on prices pushing it to fresh 5 week low with the Jul contract finishing near $2.624 per MMBTU on Thursday.

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Live Commodity Market Research on Base Metals

Base metals on the LME traded lower on Thursday with Copper and Zinc the top loser in the pack with decline of 1.6 and 1.5 percent while lead, aluminum declined by 1 and 0.3 percent respectively. On the MCX, all the base metals declined in line with weakness in the international markets.

Copper
LME Copper prices slipped below $6000/tonne on Thursday to a six week low and closed the session with a fall of around 1.6 percent hurt by signs of lackluster demand in China, the world's top user of the metal, and on risk aversion in wider financial and commodity markets.

MCX copper prices declined by 1.6 percent and closed at Rs.381.4/kg on Thursday.

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Thursday, 4 June 2015

Commodity Market Gold and Silver Tips Provider

Gold
Spot gold prices declined by 0.72 percent on Wednesday to close at $1184.8/oz s data showed the U.S. private sector added more jobs than expected in May and prospects increased of a debt deal for Greece. U.S. private employers added 201,000 jobs, above the 165,000 in April.

On the MCX, gold prices declined by 0.16 percent to close at Rs.26808/10 gms.

Silver
Spot silver prices declined by 1.4 percent on Wednesday to close at $16.5/oz. The fall in silver prices is in line with decline in gold prices coupled with weakness in Nickel and Copper prices. On the MCX, silver prices declined by 1.25 percent to close at Rs.38498/kg.

On the MCX, silver prices declined by 1.25 percent to close at Rs.38498/kg.

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Crude Oil
Oil prices declined by 2.6 percent on Wednesday to close at $59.6/oz as investors ignored a fifth straight weekly decline in U.S. crude stockpiles to focus instead on a big build in distillates, including diesel, as the peak season for U.S. road travel gets under way.

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Live Commodity Market Research on Base Metals

Base metals on the LME apart from Copper and Nickel traded higher yesterday as the dollar reversed direction touching its lowest against the euro in over two weeks after the European Central Bank kept monetary policy steady. Also, metals drew support from data showing China's services sector accelerated in May, as new business rose at the fastest pace in three years, while housing sales in major cities rose 37.4 percent.

Copper
LME Copper prices fell by 0.5 percent on Wednesday as supply glut concerns continue to weigh on the leader meal. Also, gain of 0.4 percent in LME stocks exerted pressure on prices.

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Wednesday, 3 June 2015

Commodity Market Gold and Silver Tips Provider

We saw ranged movement in Bullion complex though marginal gains came following the steep losses in US Dollar and also mixed to weaker set of economic cues from the manufacturing segment.

Gold at Comex closed with a modest uptick of 0.5% to $1194 per ounce while Silver added 0.7% to $16.80 per ounce.

Silver remain ranged for almost all of Asian and European session though moved moderately higher along with Gold in latter half of trade.

Silver Comex Jul expiry contract closed higher by 0.7% to $16.80 per ounce whereas Indian MCX Silver saw gains to the tune of 0.55% to Rs 38445per Kg.

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Crude prices yesterday rose as the tensions regarding globally oversupplied situation seems to be eased a bit after the comment from Saudi’s Oil Minister.

WTI gained more than 1.7% closing at $61.26/ barrel, whereas Brent on the other hand gained almost a percent closing at $65.49/ barrel for the July contracts respectively.


Natural gas commodity registered good bounce from after moving to multi-week lows earlier during the week as traders looked for signs of short-covering amidst the commodity moving into highly oversold phase.

NG Jul expiry contract advanced 1.85% to $2.688 per MMBTU while MCX NG for active Jun expiry added 0.9% to Rs 172 per MMBTU.

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Live Commodity Market Research on Base Metals

Aluminum continued to drill further deep into the ground marking losses upto 1.22% and settled at $1740 MT, down from its previous close.

Copper was the head turner yesterday as the metal snapped its longest slump of around 6 days in the past three months as China’s central bank will now allow lenders to issue certificates of deposits to individuals and companies.

Nickel once again proved it and stood steady at $13050 MT, up by around 0.5% from its previous close. The metal managed to remain intact despite the weak factory orders data from US which ruined the investor sentiment.

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Tuesday, 2 June 2015

Commodity Market Gold and Silver Tips Provider

Gold
Spot gold prices declined marginally by 0.09 percent on Monday to close at $1188.7/oz on stronger dollar after the precious metal was initially buoyed by an unexpected stall in U.S. consumer spending and comments on interest rates from a Federal Reserve's official.


On the MCX, gold prices declined by 0.36 percent to close at Rs.27026/10 gms.

Silver
Spot silver prices closed nearly unchanged at $16.7/oz as stronger dollar and weak gold prices exerted downside pressure on the metal. 

On the MCX, silver prices declined by 0.22 percent to close at Rs.38799/kg.

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Crude Oil
WTI and Brent crude oil prices declined by 0.2 and 1 percent on Monday to close at $60.2 and 64.9/bbl on a strong dollar and concern over stubbornly high supplies as OPEC was expected to stick with robust production at its meeting this week.

Natural gas
Natural gas prices rose marginally by 0.08 percent on Monday to close at $2.65/MMbtu while MCX gas prices also rose by 0.24 percent to close at Rs.170.20/MMbtu. Low demand for natural gas from the residential sector has been the prime reason for weakness in the recent weeks.

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Live Commodity Market Research on Base Metals

Base Metals
Base metals on the LME apart from Copper and Aluminium traded lower on Monday as dollar index strengthened by half a percent exerting downside pressure.

Zinc was the biggest loser with losses of 1.4 percent while Nickel seems to be the top gainer rising by around 3 percent in yesterday’s trade.

Copper
LME Copper prices rose on Monday by 0.1 percent on expectations of rising demand from top consumer China and lower concentrate supplies, but gains were limited by the stronger dollar.

MCX copper prices fell by 0.6 percent and closed at Rs.384.4/kg on Monday.

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