Free MCX Tips | Crude oil drops on oversupply

Free MCX Tips | Crude oil prices rose by 0.91% on Thursday as overseas oversupply and the wide-ranging geopolitical ramifications of the downing of a Russian jet by Turkey still in focus. At the MCX, crude oil futures for November 2015 contract were trading at Rs. 2,886 per barrel, up by 0.91 per cent, after opening at Rs. 2,870 against the previous closing price of Rs. 2,860. It touched the intra-day high of Rs. 2,892 till the trading. (At 11.27 AM today).

However, gains were curbed after the US Energy Information Administration (EIA) said that US commercial crude inventories rose by 1.0 million barrels for the week ending on November. 20, slightly below expectations of a 1.1 million barrel build indicating that the demand for the commodity in US is weak.

Free MCX Tips: Crude Oil ends lower on sluggish demand outlook

Free MCX Tips: Crude oil futures ended lower in the national market on Friday in the midst of a minuscule build in US oil rigs last week. Oil services firm Baker Hughes said the US oil rig count for the week ending on Oct. 16 fell by 1 to 594. It pointed the eighth straight week of weekly declines, as US production continues to hover near 2015 yearly lows. Energy investors have kept a close eye on the rig count since a shocking move by OPEC last November triggered a downturn in global oil prices. However, losses were limited as signs of a pickup in the 19-member Euro area economy bolstered the need outlook for the fuel. A combined gauge measuring Euro area manufacturing and services climbed to the highest target in two months at 54 in October, with a reading above 50 signaling expansion, Market Economics said. Meanwhile, the European Central Bank (ECB) also pointed out that it may boost its QE program to accelerate the region’s economic overcome, auguring well for crude oil. Bargain buying also limited the losses as prices hit a near-three week low after the EIA stated an 8 million barrels rise in US oil supplies last week, raising fears over a global supply glut. At the MCX, Crude oil futures, for the October 2015 contract, ended at Rs 2,927 per barrel, down by 0.81%, after opening at Rs 2,956, against the last close price of Rs 2,951. It touched an intraday low of Rs 2,895.

MCX Gold Tips: Gold regains sheen on delayed Fed rate tightening hopes

MCX Gold Tips: The yellow metal notched up impressive gains in the domestic market on Monday as investors and speculators booked fresh positions in Gold as tepid US jobs data for September pushed back bets of a hike in interest rates by the US Federal Reserve, bolstering the lure for the gold as a store of value.

American employers added fewer than expected jobs in ninth month while wages grinded to a halt and factory orders fell in August, a sign that the global financial rout has reached the shores of the united state worth, prompting the case for the Fed to delay tightening policy until next year.

Non-farm payrolls in the US advanced by 142,000 in September, following a downward revised 136,000 gain in August from 173,000 reported earlier, while wages were small changed.

Further, hopes that China may announce fresh policy easing to stem a worsening slowdown in the world’s second biggest economy following a reduction in the country’s growth estimates by the World Bank also augured well for gold, a hedge against the inflationary risk of monetary stimulus.

Gold futures may extend a rally today amid bets that global monetary policy may remain accommodation to prop up sluggish growth.

At the MCX, Gold futures for October 2015 agreement closed at Rs 25,953 per 10 gram, up by 0.70 per cent after opening at Rs 26,173, against the previous closing price of Rs 25,773. It touched the intra-day high of Rs 26,201.

Free MCX Tips: Fed rate hike jitters take toll on Gold

Free MCX Tips: Gold futures fell by more than 1.4 per cent in the domestic market on Wednesday as investors and speculators cut risky bets in the precious metal after bullish US labour market data bolstered bets of a US Federal Reserve interest rate lift-off for the first time in nearly a decade, in 2015, dimming the lure for the bullion as a store of value.

Private payrolls in the US advanced by an impressive 200,000 in September, up from a revised 186,000 last month, a sign that the American labour market recovery is progressing nicely and that the world’s biggest economy is weathering a global slowdown, paving the way for rate tightening by the Fed.

Fed Chair Janet Yellen last week backed the world’s top central bank to raise interest rates for the first time since 2006, later this year.

Gold, being a non-interest bearing asset, tends to lose sheen during a rising interest rate scenario.

A stronger dollar also curbed the appeal of gold as an alternative asset. Stronger greenback makes Gold more expensive for those holding other currencies, thus dimming demand.

Gold futures may extend a decline today as traders stay cautious ahead of tomorrow’s non-farm payrolls data which may show strength in the US job market, echoing the case for a rate hike by the Fed.

At the MCX, Gold futures for October 2015 contract closed at Rs 25,856 per 10 gram, down by 1.47 per cent after opening at Rs 26,212, against the previous ending price of Rs 26,243. It touched the intra-day low of Rs 25,760.

MCX Bullions Tips: Gold ends lowers ahead of Fed verdict

MCX Bullions Tips: Gold futures closed on a bearish note in the national market on Thursday as traders erred on the side of caution ahead of the conclusion of the US Federal Reserve’s two –day monetary policy meet in which the world’s top central bank was set to decide whether to raise interest rates for the first time in almost a decade.

Gold, a non-interest bearing asset tends to lose its sheen during a rising interest rate story line.

While a drop in jobless claims in the US to the lowest level in two months last week signaled strong progress in the labour market of the world’s biggest economy, inflation remains soft with consumer prices falling 0.1 per cent in August 2015 from the previous month, complicating the task of Fed policymakers as they seek to exit the zero interest rate policy stance.

Gold futures may rally today as the Fed held interest rates unchanged near zero amid concerns that a worsening global economic outlook may restrain growth in the US economy and suppress already weak inflation, bolstering the appeal of the yellow metal as a store of value.

At the MCX, Gold futures for October 2015 contract ended at Rs 26,168 per 10 gram, down by 0.47 per cent after opening at Rs 26,208, against the previous closing price of Rs 26,291. It touched the intra-day low of Rs 26,136.

MCX Bullions Tips: Fed uncertainty pushes Bullion lower

MCX Bullions Tips: Gold futures succumbed to modest losses in the national market on Tuesday as investors and speculators remained jittery amidst heightened uncertainty over the outcome of the Federal Reserve’s policy meeting next week, with a recent global market rout amid a worsening slowdown in China complicating the task of the world’s top central bank as it prepares to decide when to lift interest rates for the first time since 2006.

Even as recent US economic data has been a mixed bag, a commodity collapse may keep inflation well below the Fed’s goal for a prolonged period, while a China induced global stock mayhem has dampened sentiment worldwide, making it difficult for traders to predict when initial rate tightening will happen.

A rebound in global equities also dimmed the safe haven appeal for the yellow metal. Each of the Dow Jones Industrial Average, Nasdaq Composite and S&P 500 rallied by over 2 per cent as China’s stocks rose nearly 3 per cent, a sign that the country’s steep stock rout may have ended.

A weaker greenback boosted the demand for Gold as an alternative asset, trimming losses in the bullion. Weaker dollar makes Gold cheaper for those holding other currencies, thus bolstering demand.

Tepid China trade data which showed that exports and imports sank last month bolstered the case for further monetary easing to revive the sagging world’s second biggest economy, lifting the appeal of gold, a hedge against the inflationary risk of monetary stimulus.

Gold may remain stuck in low gear as traders stick to the sidelines ahead of the FOMC meet next week.

At the MCX, Gold futures for October 2015 contract closed at Rs 26,424 per 10 gram, down by 0.29 per cent after opening at Rs 26,499, against the previous closing price of Rs 26, 500. It touched the intraday low of Rs 26,386.

MCX NCDEX Tips: Upbeat physical demand powers Zinc rally

MCX NCDEX Tips: Zinc futures rallied during noon trade in the national market on Monday as investors and speculators booked fresh positions in the industrial metal amid a pickup in practical demand for Zinc in the domestic spot market.

However, the gains in the metal were capped by fears that a worsening economic slowdown in China, the world’s biggest metals consumer, may curb demand for Zinc as a renewed slide in stock markets in China threatened to signal deep-rooted problems in the world’s second biggest economy.

Following nearly a 10% combined gain in the past two trading sessions, China’s benchmark index, the Shanghai Composite, skid by 0.80 per cent on Monday amid speculation that the government may end its intervention to prop up stock markets.

At the MCX, Zinc futures for August 2015 contract closed at Rs per 121.30 per 1 kg, up by 0.46 per cent after opening at Rs 120.25, against the previous closing price of Rs 120.75. It touched the intra-day high of Rs 121.50.

MCX Bullions Tips: Bullion extends rally on safe haven demand

MCX Bullions Tips: Gold futures logged modest gains in the domestic market on Monday as a lingering rout in global stock markets boosted the safe haven lure for the precious metal.

Asian stock markets capped off their the worst monthly sell-off since May 2012 while US benchmark S&P 500 also posted its worst month in three years as spillovers from the turmoil in China shook Wall Street.

Gold which posted mild losses in the overseas market on Monday was supported by a softer dollar which boosted the demand for the bullion as an alternative asset. Weaker greenback makes Gold cheaper for those holding other currencies, thus bolstering demand.

However, the gains in the yellow metal were capped by renewed fears that the US Federal Reserve may shift next month to undertake its maiden interest rate hike since 2006 as the world’s biggest worth shows notable improvement, dimming the lure for Gold as a store of value.

Stanley Fisher, the Fed’s Vice Chairman left the entry open for policy tightening in September, as he saw acceleration in inflation while saying that it was too early to judge the impact of the China induced global market mayhem.

Gold may extend gains today as a worsening rout in equity shares in China signals more uncertainty over the global economic outlook, propping up safe haven demand for the precious metal.

At the MCX, Gold futures for October 2015 contract closed at Rs 26,682 per 10 gram, up by 0.22 per cent after opening at Rs 26,673, against the previous closing price of Rs 26,623. It touched the intra-day high of Rs 26,750.

MCX NCDEX Tips: Natural gas surges on warmer weather as on 27 August

MCX NCDEX Tips: Natural Gas futures jumped more than 1 per cent in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity as forecasts for warmer weather across key gas consuming regions in the US bolstered the demand outlook for the power plant fuel which is used to fire up air conditioners at offices and homes.

Latest weather forecasting models have called for hot weather in the Midwest and Eastern US, lifting the need for gas fired cooling.

About 49 per cent of US households use natural gas for cooling purposes.

Demand for gas from power plants jumped 8.7 per cent this week through Wednesday, according to LCI Energy Insight in El Paso, Texas.

At the MCX, Natural Gas futures for August 2015 contract closed at Rs 178 per 1 kg, up by 1.19 per cent after opening at Rs 176.90, against the previous closing price of Rs 175.90. It touched the Intraday high of Rs 179.50 till the closing.

MCX Bullions Tips: Flat finish for Yellow metal on dollar spike.

Mcx Bullions Tips: The Bullion closed little changed in the domestic market on Wednesday tracking a third straight bearish finish in the overseas market as investors and speculators remained wary of booking fresh positions in the precious metal as a stronger dollar curbed the lure for Gold as an alternative asset.

Stronger greenback makes Gold more expensive for those holding other currencies. The dollar spiked more than 1.3 per cent against a basket of key currencies after robust US durable goods orders data signaled the fastening recovery in the world’s biggest economy, boosting the appeal of the country’s assets.

However, Gold received support from comments made by a top US Federal Reserve official who signaled a reduced likelihood of the world’s top central bank raising interest rates in September, bolstering the appeal for Gold as a store of value. Federal Reserve Bank of New York President William Dudley said that the case for September rate tightening has become less compelling in light of the global financial turmoil, even as he warned against reacting too much to short-term developments.

Gold’s flat finish came even as markets in China marked their biggest five-day slump since 1996, a sign that the metal hasn’t benefited much from its safe haven status.

Gold may trade cautious today ahead of revised US Q2 GDP data which may show that the economy grew more than earlier anticipated last quarter.

At the MCX, Gold futures for October 2015 contract closed at Rs 26,741 per 10 gram, unchanged after opening at Rs 26,712, against the previous closing price of Rs 26,740. It touched the intra-day high of Rs 26,825.

MCX Bullions Tips : Global rout, Fed hopes put Gold in sweet spot.

MCX Bullions Tips : The yellow metal sizzled on Thursday, advancing nearly 2.5 per cent as Gold regained its safe haven appeal amid a flight from risky assets as investors fret over the health of the global economy with China mired in a steep slowdown while emerging market currencies nosedive.

Stocks from Asia to Europe and the US nosedived on Thursday as deepening concerns over slowing global growth unnerved traders, souring sentiment in equities and risky emerging market assets, boosting the safe haven demand for the precious metal. Citigroup cut its global economic growth forecast for 2015 for a third time to 3.1 per cent from 3.3 per cent amid currency weakness and China slowdown woes.

A weaker dollar also boosted the demand for Gold as an alternative asset. Weaker greenback makes the bullion cheaper for those holding other currencies, thus bolstering demand.

Dovish FOMC minutes suggested the case for a slight pushback in the policy tightening timetable in the US amidst weakness in inflation, bolstering the lure for the Bullion as a store of value.

While the Fed stressed that conditions which warrant rate tightening are approaching, policymakers are seeking more evidence of a pickup in economic growth and labour markets and need more confidence that inflation is moving towards the required goal, before deciding a lift-off in interest rates for the first time since 2006.

Gold may extend a rally today as a worsening China manufacturing slump and a steep slide in Asian stocks which hit a 17-month low spur safe haven demand.

At the MCX, Gold futures for October 2015 contract closed at Rs 26,849 per 10 gram, up by 2.49 per cent after opening at Rs 26,200, against the previous closing price of Rs 26,196. It touched the intra-day high of Rs 26,874.

MCX bullions Tips: Diminished Fed September rate tightening odds boost Gold

MCX bullions Tips: Gold futures finished stronger in Wednesday’s trade after minutes released from the Federal Reserve’s latest meet, showed that policymakers were concerned over anemic inflation as the world’s top central bank said that conditions meriting a maiden interest rate hike in nine years weren’t in place as yet even though they were approaching, reducing bets of policy tightening in September, bolstering the appeal of the yellow metal as a store of value.

Against the backdrop of worsening global financial market volatility especially in light of the turmoil in China, Fed policymakers are seeking more evidence of a pickup in economic growth and labor markets and need more confidence that inflation is moving towards the required goal.

Consumer prices in the US rose 0.1 per cent in July, the slowest pace of gain in three months, and following the 0.3 per cent climb in June, warranting a delay in rate tightening.

A weaker dollar bolstered the demand for Gold as an alternative asset. Weaker greenback makes Gold less expensive for those holding other currencies, thus bolstering demand.

Gold may extend gains today as a worsening rout in emerging market currencies and global stocks bolsters safe haven demand.

At the MCX, Gold futures for October 2015 contract closed at Rs 26,196 per 10 gram, up by 0.72 per cent after opening at Rs 25,977, against the previous closing price of Rs 26,008. It touched the intra-day high of Rs 26,239.

Free Mcx Tips : Copper closes lower on soft demand as on August 10, 2015

Free Mcx Tips : Copper prices ended lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal amid soft physical demand for copper in the privet spot market. A surprise dip in industrial output in Germany signaled a faltering recovery in Europe’s largest economy, darkening the demand outlook for the base metal. Industrial production in Germany fell by 1.4% in June from May, when it climbed a revised 0.2%. Sentiment weakened further due to the surge in the copper stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME copper stocks rose by 725 metric tonnes to 352325 metric tonnes as on August 7, 2015. Copper prices may decline as investors now look ahead to upcoming US data which may determine the health of the world’s largest economy. At the MCX, Copper futures for August 2015 contract closed at Rs 329.70 per 1 kg, down by 0.44% after opening at Rs 330 against the previous closing price of Rs 331.15. It touched the intra-day low of Rs 327.30 till the closing.

Free MCX Tips : Govt to deal with NPAs in domestic steel sector: FM

Free MCX Tips : The Indian Government has said that the Government has initiated several steps to deal with the NPA problem and more are on the anvil to protect the domestic steel industry, media reported.

Commenting on the issue, Finance Minister Arun Jaitley told the media, "Highest NPAs are in steel sector... Second is national highways... buy in steel is cheaper than privately manufactured steel. Wherever, steel dumping is happening, we have imposed anti-dumping (duty). In some cases, import duty has been increased. There are other such proposition before the government and efforts will be made to encourage domestic industry."

“The government will endeavor to promote sale of domestic steel so that NPA in the sector is diminish. If the economic activity will increase, the  utilization of steel will also go up and its price will become competitive," he added.

The Minister further added that almost 75 National Highways were at a standstill because of uncompetitive rates - the second area where Non Performing Assets (NPAs) have been created.

MCX Gold Tips : Gold closes higher on strong global cues.

MCX Gold Tips : Gold futures ended higher in the domestic market on Wednesday after data showed that US non-farm private employment rose less than awaited in July, dampening optimism over the strength of the economy and fanning hopes that the Federal Reserve could delay raising interest rates until the very end of 2015. Payroll processing firm ADP said earlier that non-farm private employment rose by 185,000 Previous month, below expectations for an increase of 215,000. Market players were also waiting for Friday's US non farm payrolls report. The agreement forecast is that the report will show jobs growth of 223,000. Gold is likelihood to trade higher today with the focus ahead on US jobs data at the end of the week. At the MCX, Gold futures for August 2015 contract closed at Rs 24,705 per 10 gram, up by 0.12 per cent after opening at Rs 24,535, against the previous closing price of Rs 24,675. It touched the intra-day high of Rs 24,706.

Free MCX tips : Oil halts losses on bargain buying, shrinking US supplies

Free MCX tips : Crude oil bounced back in the domestic market on Tuesday as the sharp losses suffered by the energy commodity over the past several sessions offered traders, a good bargain buying opportunity in the fuel at existing levels.

Oil had tanked nearly 7 per cent in the previous two sessions amidst fears that Iran may unleash millions of barrels of its crude that it is presently hoarding, once international sanctions against the Islamic nation are lifted, while higher drilling activity in the US signaled a pickup in production ahead, threatening to widen a global supply glut.

Further, a drop in US storage levels eased concerns of oversupplies as the API reported a 2.4 million barrels decline in stockpiles last week.

A rebound in China’s stock markets eased worries over the demand outlook in the world’s second biggest oil consumer.

China’s benchmark index, the Shanghai Composite surged over 3.5% on Tuesday, snapping a three-day losing streak, after the country’s officials unveiled more measures to stem the steep stock market rout including curbs on short selling.

Meanwhile, US factory orders rebounded in June, reversing two months of decline, up 1.8 per cent from May, while a gauge of New York manufacturing rose at the fastest pace this year, signaling a pickup in the world’s largest economy, lifting the demand outlook for the fuel.

The ISM New York manufacturing index climbed to 68.8 in July from 63.1 in June, with a reading above 50 signaling expansion.

Oil may extend an advance today as a surge in Chinese services activity signals an improving health of the world’s second biggest economy, auguring well for the fuel’s demand prospects.

At the MCX, Crude oil futures, for the August 2015 contract, closed at Rs 2,935 per barrel, up by 0.58 per cent, after opening at Rs 2,925, against the last close price of Rs 2,918. It touched an intraday high of Rs 2,959.

MCX Gold Tips : Fed rate hike jitters drag down Bullion as on August 05.

MCX Gold Tips : Gold futures ended lower in the  private market on Tuesday amid speculation that the US Federal Reserve may raise interest rates next month for the first time since 2006, dimming the lure for the yellow metal as a store of value.

A leading official from the world’s top central bank warned that monetary tightening in September was almost a done deal as the economy shows signs of strengthening.

Federal Reserve Atlanta Bank President Dennis Lockhart, a voting member on the FOMC told the Wall Street Journal that the Fed was almost ready to hike borrowing costs as he signaled that only a considerable deterioration in economic data would prevent him from tightening rates in September.

A stronger dollar cut the demand for Gold as an alternative asset. Stronger greenback makes Gold more  extortionate for those holding other currencies, thus dimming demand.

Gold may extend losses today as investors stay on the sidelines ahead of US private sector payrolls data which may raise calls for tightening policy rates in the US.

At the MCX, Gold futures for August 2015 contract closed at Rs 24,675 per 10 gram, down by 0.35 per cent after starting at Rs 24,610, against the last closing price of Rs 24,761. It touched the intra-day low of Rs 24,570.

Free MCX Tips : Oil succumbs to renewed sell-off as on 31 July, 2015

 Free MCX Tips
Oil was back in Bear terrain on Thursday as a stronger dollar wreaked havoc, overshadowing a size able drop in US weekly production and inventory levels reported by the EIA a day earlier.

A stronger dollar cut the demand for crude as an alternative asset. Stronger greenback makes dollar-denominated commodities such as oil more expensive for those holding other currencies, thus dimming demand.

Dollar’s strength outweighed the 151,000 barrels dip in US crude production and a bigger than expected drop of 4.2 million barrels in US storage levels last week that eased worries over a global supply glut.

Meanwhile, US economic data came in mixed as a pickup in economic growth in Q1 contrasted with an increase in the number of applications for seeking jobless benefits. The world’s biggest economy expanded at an annualized pace of 2.3 per cent in the June quarter following a revised 0.6 per cent gain in Q1 driven by solid gains in consumer spending. Jobless claims climbed by 12,000 to 267,000 in the week ended July 25, 2015.

Oil may rebound today on hopes that a pickup in US economic growth may bolster demand for the fuel in the world’s biggest oil consumer.

At the MCX, Crude oil futures, for the August 2015 contract, closed at Rs 3,132 per barrel, down by 0.51 per cent, after starting at Rs 3,144, against the last close price of Rs 3,148. It touched an intraday low of Rs 3,122.

Base Metal Tips : Copper Bulls quiet ahead of China GDP data as on 14 July, 2015

Base Metal Tips

Copper futures withdraw on Tuesday as financier & speculators stuck to a cautious approach ahead of data which may show a deepening slowdown in China, the world’s biggest metals consumer, darkening the demand prospects for industrial metals.

Wednesday’s GDP numbers may show that China’s economic growth may be slowed to 6.8% in Q2 from 7% in the March quarter.

China’s new lending accelerated in June as banks and financial institutions provide 1.27 trillion yuan value loans, up from 900.8 billion yuan in May while transfer back a drop and money supply growth quickened, helping to ease evolves over a slacking off.

At the MCX, Copper futures for August 2015 contract is trading at Rs 357.90 per 1 kg, down by 0.42% after gonna start at Rs 358.85, against the last ending price of Rs 359.40. It blow the stock movements up to Rs 357.35. At 12 o'clock.

Mcx Gold Tips : Gold closes lower on weak global cues as on 13 july, 2015

Mcx Gold Tips : Gold prices ended flat in the domestic market on Friday as traders digested strong indications from Janet Yellen that the Federal Reserve will raise interest rates this year and markets throughout the euro zone moved broadly higher amid optimism of a Greek deal. Greece Prime Minister Alexis Tsipras sought support from members of parliament for backing of a €53.5 billion austerity plan through the European Stability Mechanism (ESM). Yellen said that the Fed is on track to raise interest rates at some speck this year. The comments from Yellen are her most ultimate to date on the timing of a 2015 rate hike. However, losses were slighted as the greenback eased on Friday, bolstering the demand for the bullion as an alternative asset. A softer dollar makes Gold less expensive for those holding other currencies, thus lifting Gold need. At the MCX, Gold futures for August 2015 contract closed at Rs 26,058 per 10 gram, down by 0.02 per cent after starting at Rs 26,088, against the last ending price of Rs 26,064. It touched the intra-day low of Rs 26,017 till the closing.