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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