Wednesday, 30 September 2015

Gold and Silver Daily Updates By MarketMagnify

Gold prices slipped further amidst the robust consumer confidence data from the US that lifted the sentiments in the world’s largest economy. The CFTC data reveals an increase in gold nets longs to 5.57 million ounces from 3 million ounces in the week ending September 22. The 2.56 million ounce jump marked the first positive net change in positioning since the beginning of September and signals a growing confidence in the precious metals.


Silver prices managed to outperform gold to some extent and marked a positive close at COMEX. The gains were capped as there was a mild comeback in the US equities Markets will be eyeing on the manufacturing data from China for more cues regarding the health of the world’s second largest economy. We expect the prices to show some more recovery in the morning session therefore recommend a buy at lower levels.

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Tuesday, 29 September 2015

Commodity Trading Tips According to Market Research

MCX Dec Silver began the day in a selling note and there after continued the same trend by violating its rising trend-line support at 35436 levels. In today’s session we expect prices open flat and trade lower towards the next support of 34430 & 33760 levels. Hence, any rise will restricted at 35430 levels.

MCX Nov Copper prices have broken its horizontal support at 337 levels and managed to close well below the same. Further bearish outlook remains unchanged and is likely to extend the fall towards 330 & 327 levels.

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Monday, 28 September 2015

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Gold prices paused after the hawkish comments from Fed chairperson. US Real Gross Domestic Product for the second quarter increased by 3.9% on an annual basis, above consensus estimates of a 3.7% gain.

Silver prices ended the session with marginal gains , recovering from two days of decline Market awaiting slew of economic releases from US today.

Aluminum 3M forward LME ended the previous week on at a loss of 3.5% and settled at $1567 MT, compared to its previous week.

LME Copper was battered red during the previous week and settled at $5023 MT, down by around 4.4% from its previous week’s closing, as the macro uncertainty loomed over the base metals sector.

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Thursday, 24 September 2015

Daily Trading Tips and Advice For Mcx Commodity Market

Gold firmed, following two days of losses, as the dollar fell as much as 0.2 percent against a basket of leading currencies, while weak Chinese factory data soured investor appetite for risk.

Spot gold was up 0.6 percent at $1,131.53 an ounce, while the U.S. gold futures contract for December delivery settled up 0.6 percent at $1,131.50 an ounce.

Silver was up 0.2 percent at $14.75 an ounce. We expect silver prices to trade positive on the back of short covering.

Global Oil markets tumbled on Wednesday, with U.S. crude futures settling down 4 percent after bullish impact from lower crude inventories was offset by large gasoline builds that raised concerns about high autumn fuel supplies.

Analysts polled by Reuters had forecast a 533,000-barrel drop last week. The EIA said gasoline stockpiles rose 1.4 million barrels, compared with the Reuters poll which called for a 819,000-barrel gain.

U.S. natural gas futures were little changed on Wednesday on forecasts for lower, but still above-normal temperatures, expected to keep heating and cooling demand low for the next two weeks as the market waited for direction from a storage report.

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Wednesday, 23 September 2015

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Gold fell 1 percent on Tuesday, pressured as the dollar strengthened on renewed expectations that the Federal Reserve will raise U.S. interest rates for the first time in nearly a decade.

Silver down 2.6 percent at $14.77 an ounce. We expect silver prices to trade negative on the back of US interest rate outlook.

Brent settled up on Tuesday, while U.S. crude finished down 2 percent but off its lows after a partial pipeline outage and bets of positive U.S. inventory data helped oil offset skittish sentiment in financial markets.

U.S. natural gas futures ended slightly higher for the first day in six on Tuesday, closing just above Monday's five-month low, on forecasts for mild weather over the next two weeks with little cooling or heating demand as autumn approaches.

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Tuesday, 22 September 2015

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Gold dropped as strength in stocks and the dollar dampened a rally fueled by the Federal Reserve's decision last week to keep U.S. interest rates on hold.

Silver traded in the range with little to spur investors as they assess the Federal Reserve once again on the likely chance of a rate hike next month.

Crude rallied more than 2% erasing Friday's massive sell-off, amid indications that US shale producers are continuing to slash output.

Copper edged higher as investors turned their attention to an index of manufacturing activity from China due later in the week.

Natural gas prices dropped as demand for the fuel was likely to remain limited after meteorologists predicted mild fall weather in the week ahead.

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Monday, 21 September 2015

Daily Commodity Market Gold and Silver News

Gold rose to a near three-week high on Friday as the Federal Reserve's decision to leave U.S. interest rates unchanged rattled investors' outlook on the global economy and weighed on equity markets in developed economies. The Fed kept interest rates unchanged on Thursday in a bow to worries about the global economy, financial market volatility and sluggish inflation at home. It left open the possibility of modest rate rises later this year.


Silver was flat at $15.12 an ounce. After the Federal Reserve decided to leave interest rates unchanged, a majority of Wall Street's top banks now expect the U.S. central bank to begin hiking rates in December, according to a Reuters poll conducted on Thursday.

Twelve of the 17 primary dealers, or the banks that deal with the Fed directly, polled said they expect the Fed to raise rates in December. Two pegged the date in October, and three in March 2016.

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Friday, 18 September 2015

Today's Commodity Market Gold and Silver Tips

Gold rose to a two-week high on Thursday after the Federal Reserve said it held U.S. interest rates steady following a two-day policy meeting, sending the dollar index to a three-week low.

The U.S. central bank's decision was a nod to concerns about a weak world economy, saying that an array of global risks and other factors had convinced it to delay what would have been the first rate hike in nearly a decade. It left open the possibility of a modest policy tightening later this year.


Silver was up 1.8 percent at $15.16 following a 3.5 percent jump in the previous session. The U.S. Federal Reserve kept interest rates unchanged on Thursday in a nod to concerns about a weak world economy, but left open the possibility of a modest policy tightening later this year. 

In what amounted to a tactical retreat, the U.S. central bank said an array of global risks and other factors had convinced it to delay what would have been the first rate hike in nearly a decade.

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Wednesday, 16 September 2015

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MCX Sep Lead futures saw some recovery in the past session and ended in a positive zone. A “bullish hammer” candlestick pattern on daily charts indicates some short covering in coming sessions towards 114 & 115.35 levels. Hence, any fall in the early hours will be respect at 111.45 and add some buying pressure from the same.


MCX Oct Cotton has completed a “double top” chart pattern on daily charts and the neck-line breakdown of the same took place at 16050 levels, which will act as a resistance now. According to chart pattern the distance between top to neck-line will be down side target i.e. 15430 levels, meanwhile 15750 will act as an immediate target on downside.

NCDEX Oct Soya oil; sharp breakout from the falling trend-line resistance at 568 levels has kept the prices in a positive zone. Now the bias turned into positive mode and a “bullish engulfing” candlestick pattern on daily charts can lead the prices further up towards 582 & 588 levels. Hence, any dip can be utilized to accumulate fresh longs at 572 levels.

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Tuesday, 15 September 2015

Commodity Market Evening Report By MarketMagnify


  • Indian Oilseed complex prices ended mixed yesterday. Rupee ended higher.
  • According to IMD, as of 14 September, monsoon rains in India were 16% below normal.
  • Kharif sowing progress - area of 18.19 million hectares were covered by oilseeds as of 11 September vs. 17.52 million hectares covered in the corresponding period last year.
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MCX Sep Crude oil has given a breakdown from the “running triangle” chart pattern on intraday charts and ended down by 2.50% on d-o-d basis. This signifies for a continuation of bearish trend in coming sessions towards 2863 & 2807 levels. Hence, any pullback will be restrict at triangle support turned as a resistance now at 2945 levels and bring some selling pressure from the same.

Finally MCX Sep Zinc has provided a breakdown from the consolidation phase support at 118.40 levels and managed to settle well below the same. This indicates that the bearish trend is intact and is likely to drag the prices further down towards 115.30 & 114.10 levels.

NCDEX Chana Oct expiry contract has continued maintain its negative bias in the past session and ended down by 4% on daily charts. Currently prices are facing an immediate support at 4330 levels and on sustainable break below the same will extend the fall towards 4873 levels, where as an resistance resides at 4400 levels.

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Monday, 14 September 2015

Daily Trading and Commodities Report by MarketMagnify

In-line with our earlier report, MCX Dec Silver has provided a breakdown from the trend-line support and ended at 34975 levels, down by 1.15% on daily charts. In today’s sessions we expect prices open flat and extend the fall towards 34550 & 34030 levels. However, 35300 will act as an immediate resistance on upside.

MCX Nov Copper’s positive outlook remains unchanged as long as prices trading above 358 levels. Any dip towards 361 can be considered as a fresh buying opportunity at lower levels. However, upside targets remains at 368 & 371 levels.

NCDEX Oct Dhania was intact further weakness by violating its rising trend-line support at 11335 levels. This signifies that the fall from 11710 levels remains intact and further fall can be seen towards 11065 & 10920 levels. Hence, any bounce can be utilized to create shorts at 11275 levels.

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Friday, 11 September 2015

Daily Commodity Market News and Tips

MCX Dec Silver futures rose to as high as 35840 in the past session, but failed to hold the gains and fell back into negative zone. Now, 35310 levels will act as an immediate support on downside and on a sustainable break below the same will intact further weakness towards 34650 & 34120 levels.


MCX Sep Nickel; “bullish engulfing” candlestick pattern on daily charts renders that the recovery from 624 levels is still in progress and further gains can be possible towards 38.2% Fibonacci level of 711 & 725 levels. However, any dip can accumulate fresh longs at 686 levels.

NCDEX Oct Dhania was intact further weakness by violating its rising trend-line support at 11335 levels. This signifies that the fall from 11710 levels remains intact and further fall can be seen towards 11065 & 10920 levels. Hence, any bounce can be utilized to create shorts at 11275 levels.

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Thursday, 10 September 2015

Natural Gas and Crud Oil Evening Report

Crude Oil
Crude oil prices are consolidating in a range between 2900 to 3095 levels over the past 2-3 sessions of trade. Failure to break and sustain below 2880 will see prices take support between 2880—2950 and move higher towards 3100 levels. A daily close above 3100 will see prices rebound towards 3150/3213 levels. Traders holding long positions should maintain a stop loss below 2880 on their positions.

Natural Gas
Natural Gas prices closed down with a cut of 2.48% yesterday. Prices though continue to be range bound between 182 to 175.40 levels. Failure to sustain above 180 will see prices dip towards 176/175.50 levels. A decisive break below 175 will see prices correct towards 174 levels. Any major upside is possible only once prices breakout above 182 levels decisively.

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Daily Commodity Market Gold and Silver Tips

Gold
Gold prices slipped to their lowest levels after August 11 after a sharp recovery in the dollar led by the strong JOLTS openings which surged to record highs of 5.75 million in the month of July.


Prices at MCX slipped by 1.4 % to close at 26057 levels.

Gold silver ratio: Ratio is moving lower due to sharp decline in gold.


Silver
The prices saw a knee jerk reaction after the positive opening and surrendered the gains by the close of the day to end lower by more than 1 %. The weakness is expected to continue in today’s session also we therefore recommend a sell strategy for the day.

At MCX prices ended lower 1 % at 35294

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Wednesday, 9 September 2015

Commodity Market Evening Report

Gold steadied on Tuesday after a four-day losing streak as the dollar eased, but the metal was not too far from a 2-1/2-week low as it struggled to find direction amid uncertainty over a looming U.S interest rate hike.

Silver prices surged higher as the Dollar remained weak. The Euro rose broadly on Tuesday, reversing territory late in the session after the chief economist of the World Bank warned of the disastrous consequences a premature rate hike from the Federal Reserve could have on fledgling markets worldwide.

World Bank chief economist Kaushik Basu indicated that a rate hike by the Fed next week could trigger a widespread crisis in emerging markets, pushing capital away from their economies and potentially creating sharp fluctuations in their currencies.

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Today's Energy News by MarketMagnify

Crude Oil
WTI oil prices declined by 0.2 percent on Tuesday to close at $45.9 per barrel. U.S. crude fell slightly in volatile trade, reopening from Monday's U.S. markets closure for the Labor Day holiday to news of refinery outages.

On the MCX, oil prices rose by 3.4 percent to close at Rs.3049 per barrel.

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Commodity Market Gold and Silver Tips

Spot gold prices rose by 0.21 percent to close at $1121.4 per ounce as weakness in the dollar index helped the metal snap a four-day losing streak, but bullion remained close to 3-week lows as uncertainty over a looming U.S interest rate hike persisted.

On the MCX, gold prices declined by 0.28 percent to close at Rs.266610 per 10 gms.

Silver
Spot silver prices rose by 1.8 percent on Tuesday to close at $14.8 per ounce. The rise in silver prices is in tandem with rising gold prices coupled with strong base metals pack.

On the MCX, silver prices rose by 1.42 percent to close at Rs.36400 per kg.

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Tuesday, 8 September 2015

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Gold prices struggled for direction as stock markets firmed and the dollar steadied, and after U.S. payrolls data failed to provide clarity on the timing of Fed’s rate hike.

Silver prices down amid ongoing uncertainty about whether the Federal Reserve will increase interest rates later this month.

Crude oil dropped hit by weaker Chinese equities and record North Sea crude production data that added to global oversupply concerns.

Copper gains as support seen after Glencore announced plans to shut down loss making mines to help to reduce a glut of supply.

Zinc prices ended with losses ahead of forthcoming Chinese economic data that could point to further economic weakness.

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Wednesday, 2 September 2015

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For the day gold futures are expected to continue its range bound trend with negative bias. There are major ETF holdings are happening as of now as investors are taking cautious approach ahead of non-farm payroll data and US FOMC meeting on 17th Sep 2015. Among the economic releases, we have ADP employment change, nonfarm productivity and factory orders, which are likely to have mixed impact on the market. Overall, gold is expected to remain in range.


As on Wednesday morning, comex gold futures are trading on a flat note at $1138.40 per ounce.

Silver futures are expected to witness volatile movement during the day with negative bias. Weakness in base metals market is likely to weigh on silver market. We are recommending to sell silver for the day.

As on Wednesday morning, comex silver for Dec delivery is trading at $14.57 per ounce, down by 0.34%.

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Tuesday, 1 September 2015

Daily Best Commodity Tips Provider In India

Gold steadied on Monday, bouncing up from session lows as oil prices rallied and the U.S. dollar fell, after bullion felt earlier pressure on indications the Federal Reserve may still raise interest rates this year, despite recent market turmoil and Silver rose 0.3 percent to $14.63 an ounce.

Oil futures soared on Monday for a third consecutive day, rising more than 8 percent, as a downward revision of U.S. crude production data and OPEC's readiness to talk with other producers helped extend the biggest three-day price surge in 25 years.

U.S. natural gas futures settled 1 percent lower on Monday on expectations that high summer temperatures will peak this week, paring demand for air conditioning from gas-powered electricity over the next fortnight.

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