Wednesday, 14 October 2015

Commodity Trading Tips According to Market Research

Spot gold prices are trading lower today by 1 percent at $1154.7 per ounce while MCX gold prices are trading lower by 0.13 percent at Rs.26759 per 10 gms. Gold fell nearly 1 percent on Tuesday as sellers took advantage of the previous session's three-month high to book profits, though losses were limited by expectations the Federal Reserve will not lift U.S. interest rates this year. 


LME Copper prices plunged by 0.8 percent as trade balance data showed Chinese imports declined 20 percent in September, thereby raising doubts on the strength of domestic demand in the world’s biggest consumer. However, sharp losses were cushioned as China's monthly copper imports surged a third in September, hitting a 20-month high. Also, decline of 0.9 percent in LME stocks acted as a positive factor. MCX copper prices fell by 0.4 percent to close at Rs.352.65 per kg.

MCX oil prices are trading lower by around 0.6 percent trading at Rs.3057 per barrel. Report from the International Energy Agency (IEA) forecasting a global supply glut would last through 2016. Oil prices dropped more than 5 percent on Monday on news of higher output by the Organization of the Petroleum Exporting Countries and on expectations of higher U.S. crude stockpile.

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