Monday, 18 July 2016

Today Indian Commodity Market ; Yellow Metal Rises on Global cues

Gold futures were trading slightly higher during the morning trade in the domestic market on Monday following a failed attempt to seize power in Turkey.Latest News in Gold Silver Commodity Market Just Visit now at: www.marketmagnify.com/freetrial.php or For Free Trials Just Give One Missed Call @78-79-88-11-22.

Gold fell one percent before paring losses on Monday as the demand for safe-haven assets waned with a coup attempt in Turkey failing to deter risk sentiments. The US dollar gained on the yen in Asia on Monday as investors unwound safe-haven trades in the wake of the attempted coup in Turkey, while better US economic news and the promise of central bank stimulus lent support to equities.

Silver futures were trading lower during the morning trade in the domestic market on Monday as speculators remained on the sidelines tracking weak cues from overseas. Further, decline in silver prices at the futures trade was largely inline with a weak trend in precious metals in global markets.

At the MCX, Silver futures for September 2016 contract is trading at Rs 47,051 per 10 grams, down by 0.47 per cent, after opening at Rs 47,036, against a previous close of Rs 47,275. It touched the intra-day low of Rs 47,023.

Today Trading Ideas :-
  • Silver trading range for the day is 46761-47955.
  • Silver prices dropped as investors turned to risk assets such as stocks, cutting demand for bullion as a haven.
  • Investors flocked to precious metals as the Brexit vote in June caused immediate turmoil across markets. 

1 comment:

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