Thursday, 21 July 2016

Indian Bullion Market News ; Gold Silver CrudeOil Updates

Gold hit a three-week low on Thursday, after falling more than 1 percent in the previous session, as investors looked to buy into rising equity markets rather than purchasing safe-haven assets. MarketMagnify are providing all ‪Commodities‬ Services Like Gold+Silver Tips ,Bullion Tips ,Bullions Trading‬ Tips, MCX Market Tips, Precious Matel Tips, Mcx Live Just Visit Now at www.marketmagnify.com/freetrial.php or Get Free Trials Give One Missed Call @78-79-88-11-22.

Silver on MCX settled down -2.02% at 46072 on higher equities and as the dollar hit a four-month high following strong US economic data, which raised expectations that the Fed may raise rates before the end of the year.While the dollar hit its highest for four months, still benefitting from data showing US hsg starts surged more than expected in June, underpinning a theme of strength in the US economy.

The metal was also dragged lower by advancing European and U.S. equities, which increased investor appetite for risk. On Wednesday, economic indicators showed that consumer confidence in the EU fell sharply by 1.8 in June to Minus-7.6, dropping to the lowest level since November, 2014. In the euro area, the DG ECFIN flash consumer confidence index declined by 0.7 from an upwardly revised Minus-7.2 to Minus-7.9.

Cardamom futures were trading higher during the morning trade in the domestic market on Thursday as investors widened their bets in the agri-commodity amid a pickup in physical demand for Cardamom in the domestic spot market.At MCX, Cardamom futures for August 2016 contract is trading at Rs 918.40 per kg, up by 0.34 per cent, after opening at Rs 917, against a previous close of Rs 915.30. It touched the intra-day high of Rs 921.

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