Gold worst week in seven ahead

Gold stabilizes on Friday ahead of critical US employment data, but was set to post its largest weekly loss in almost two months after steep profit gains at the start of the year. A powerful US jobs number for January would nourish expectations for the Federal Reserve to trek interest rates by mid year, diminishing the appeal of non-interest yielding benefit such as gold. But feeble data could buoy bullion prices. "A significantly lower job creation could support gold if it results in changes in the timing of Fed rate hike expectations.

Oil prices recover in Asian trade

Oil prices recover in Asia Thursday, but gains profit was capped as the euro was strike by fresh covers over Greece, further hurting desired in the face of an oversupply.

US benchmark West Texas Intermediate for March delivery increased 42 cents to $48.87 while Brent crude for March gained a profit of 71 cents to $54.87 in trade. Crude prices on Wednesday broke a three day rally, with WTI is sliding 8.7 % owing to mounting stockpiles.

On Thursday's recoiled was unlikely to be supported after the single currency retreated on news that the European Central Bank had cut off Greek banks' access to a key source of much required cash.

Crude has off track more than half its value since June, when prices were at more than $100 a barrel.

Oil prices fall around 2% after 4 days

mcx commodity tips

US crude futures slide more than 2 % in early Asian trade on Wednesday, after a scrambling dollar had pushed upward prices by about 19 % over the last four sessions. Oil markets have recoiled in recent days as some investors become more confident that oil prices have strike bottom after a seven month rout that had elicited major energy companies to reduce spending on new production. Evaluated by industry group American Petroleum Institute that US crude stockpiles increase more than 6 million barrels previous week, in a fifth straight week of jumps, helped drive prices lower on Wednesday. US crude for March delivery was downward more than 2 % at $51.91 a barrel by 0013 GMT.

Natural Gas Futures Jumped in the Domestic Market

mcx commodity tips

Natural Gas futures jumped in the domestic and overseas market on Monday as forecasts for milder weather in the US fade the desired outlook for the heating fuel. The Commodity Weather Group, LLC forecast seasonal temperatures from the Great Plains through the East Coast from 7 Feb through 17 Feb, 2015. At the MCX, Natural Gas futures for February 2015 contract ended at Rs 165.4/1 kg, downward by 1.78 % after opening at Rs 168, against the last day of ending price of Rs 168.4. It touched the intra day low-lying of Rs 162.4 till the ending.

Agro Outlook updates for Tuesday Market

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CORIANDER
Coriander prices rose by 0.64 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the limited stocks on account of restricted arrivals from the major growing belts. At the NCDEX, coriander futures for October 2014 contract was trading at Rs. 11,786 per quintal, up by 0.64 per cent after opening at Rs. 11,770 against the previous closing price of Rs. 11,711. It touched the intra-day high of Rs. 11,850 till the trading. (At 11.30 AM).

CASTORSEED
Castorseed prices rose by 1.01 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the rise in demand from consuming industries against restricted arrivals in domestic markets which in turn encouraged the investors to enlarge their holdings. At the NCDEX, castor seed futures for October 2014 contract were trading at Rs. 4,482 per quintal tonnes, up by 1.01 per cent, after opening at Rs. 4,470 against the previous closing price of Rs. 4,437. It touched the intra-day high of Rs. 4,499 till the trading. (At 12.15 PM).

COMMODITY REPORT FOR 7 OCTOBER 2014

Precious Metals

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GOLD/SILVER

Continuing its rising streak for the third day, gold prices advanced by Rs 130 to Rs 27,470 per  ten grams in the national capital today on increased buying by jewellers and retailers amid  ongoing festive season even as the metal weakened overseas.  Silver, however, met with resistance and dropped by Rs 1,050 to Rs 38,650 per kg on reduced offtake by industrial units and coin makers.  Marketmen said steady inflow of buying by jewellers and retailers, triggered by ongoing festive  season and a weakening rupee against the dollar that made imports costlier, mainly influenced  gold prices.  In Delhi, gold of 99.9 and 99.5 per cent purity rose by Rs 130 each to Rs 27,470 and Rs 27,270  per ten grams, respectively. It had gained Rs 110 in previous two days.  Globally, gold fell 0.24 per cent to USD 1205.80 an ounce in London.  Sovereign, however, held steady at Rs 24,200 per piece of eight grams in limited deals.  On the other hand, silver ready plunged by Rs 1,050 to Rs 38,650 per kg and weekly-based  delivery by Rs 1,025 to Rs 38,170 per kg. It had gained Rs 165 in last two sessions.

COMMODITY REPORT FOR 1 OCTOBER 2014

Precious Metals

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GOLD
Gold futures fell by 0.51 per cent to Rs 26,862 per 10 grams today as participants indulged in  reducing exposures, largely in tandem with a global trend. At the Multi Commodity Exchange, gold for delivery in far-month December eased by Rs 137, or  0.514 per cent, to trade at Rs 26,862 per 10 grams in a turnover of 5,548 lots.  Also, the metal for delivery in October month contracts fell by Rs 61, or 0.23 per cent, to Rs  26,852 per 10 grams in 3,116 lots.  Globally, gold lost as much as 0.40 per cent to USD 1,210.94 an ounce in London.

SILVER
Silver prices fell by 0.77 per cent to Rs 39,050 per kg in futures trading today as speculators  offloaded positions, triggered by a weak global trend.  At the Multi Commodity Exchange, silver for delivery in far-month December contracts fell Rs  304, or 0.77 per cent to Rs 39,050 per kg in business turnover of 8,070 lots. 

TODAY'S COMMODITY REPORT FOR MARKET: Market News

MENTHA OIL

Mentha oil extended gains for the fourth straight session with prices rising by 1.32 per cent to Rs  689.20 per kg in futures trade today.  This was largely due to tight stocks position in the physical market amid increased industrial as  well as exports demand.  At the Multi Commodity Exchange, mentha oil for delivery in October rose Rs 9, or 1.32 per cent,  to Rs 689.20 per kg, clocking a business volume of 1,268 lots.  Also, oil for delivery in September contracts traded higher by Rs 8.50, or 1.26 per cent, to Rs  678.70 per kg, with a trading volume of 587 lots.  The trading sentiment improved further as traders engaged in creating positions mostly on tight  stocks position in the spot markets against good demand from consuming industries, analysts  said.

MONDAY Market News MARKET COMMODITY REPORT

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GOLD
Gold rebounded from a seven-month low of $1,207.04 an ounce (32 gms) hit on Thursday as  the dollar's rise to a four-year high against major currencies raised concerns about earnings of US companies, particularly those who sell commodities denominated in that currency overseas.  This resulted in US equities paring gains on Thursday and some amount of safe-haven buying  in gold.  Gold on Friday traded up $4 at $1,225 early noon Indian time. However, a stronger dollar still  leaves a bearish overhang on the metal and fears of its falling below $1,200.  In India, the metal, in addition to the overnight rise in London, was supported by a weak local  currency with the rupee having closed 37 paise lower to the dollar at 61.34 on Thursday. Gold  on the MCX ended up almost a percent and half on Thursday at Rs 26,935 per 10 gms, ex-VAT.  This was against three-tenths of a percent rise in gold traded in London.  On Friday, the intraday price of gold in the local market was Rs 27,045, up Rs 110 from  Thursday's close. Indian jewellers like Kumar Jain, proprietor of UT Zaveri at Mumbai's Zaveri 
Bazaar, expect local prices to be supported by festive buying and a weak rupee.

Latest Latest Stock Market News for 26 september 2014

Latest Stock Market News

GOLD

Gold prices fell marginally by 0.20 per cent to Rs 26,672 per ten grams in futures trade today as speculators trimmed their positions, taking weak cues from the global markets.  At the Multi Commodity Exchange, gold for delivery in far-month December contracts shed Rs 54, or 0.20 per cent, to Rs 26,672 per ten grams in business turnover of 24 lots. In a similar fashion, the metal for delivery in October fell by Rs 46, or 0.17 per cent, to Rs 26,503 per ten grams in 394 lots.

SILVER

Tracking a weak trend overseas, silver prices fell by 0.52 per cent in futures trade today as  speculators engaged in off-loading positions.  At the Multi Commodity Exchange, silver for delivery in far-month December contracts lost Rs  205, or 0.52 per cent, to Rs 39,060 per kg, with a turnover of 890 lots.  Globally, silver dropped 0.40 per cent to USD 17.62 an ounce in Singapore today.