India's May Palm Oil Imports Hit Multi Year Low on Higher Import Tax | Today Commodity Market News Outlook 15 June 2018.


Commodity Opening Bell
Bullion - Opens on positive Note Gold -31400-31425 Silver - 41400-41450

Energy - Opens on positive Note Crude Oil - 4550-4575 Natural Gas - 202-203

Base Metals - Opens on positive Note Copper -481-50-482 Nickel - 1035-1038 Lead -166.80-167 Zinc - 216.80-217 Aluminium -154.10-154.30




India's palm oil imports in May plunged 38 percent from a year earlier to their lowest in nearly 4-1/2 years as higher import tax on the tropical oil made it more expensive, a trade body said on Thursday.

Palm oil imports might remain under pressure this month as well, helping rival soft oils such as soyoil and sunflower oils gain market share, industry officials said.

Lower imports by India, the world's biggest vegetable oil importer, could weigh on Malaysian palm oil futures that were trading near their lowest in 22 months.

India imported 496,478 tonnes of palm oil in May, the lowest since February 2014, the Solvent Extractors' Association of India (SEA) said in a statement.

0 comments:

Crude Slips Gold Trading Flat | Today Commodity Market News Outlook Report 13 June 2018.


Bullion - Opens on negative Note Gold -31140-31150 Silver - 40600-40620 

Energy - Opens on negative Note Crude Oil - 4465-4470 Natural Gas - 197.90-198 

Base Metals - Opens on negative Note Copper -482.30-482.50 Nickel - 1027-1028 Lead -166.80-167 Zinc - 216.80-217 Aluminium -155.70-156





The non-agri segment is currently dominated by Multi Commodity Exchange of India (MCX), which has agreements with both Chicago Mercantile Exchange and London Metal Exchange for settlement prices of energy and base metals.

For gold contracts, MCX gets settlement prices from the Ahmadabad gold spot market.

“BSE and NSE are also in talks with CME and LME for settlement prices; but MCX has some exclusive contracts with LME. If they (BSE, NSE) do not get settlement prices, then it would be difficult for them to compete with an existing exchange,” a source told Moneycontrol.

New commodity exchanges need to have arrangements with exchanges abroad to get settlement prices for crude oil, base metals and natural gas contracts that they offer.


0 comments:

Gold Around 1300 Dollar Crude Marginally High | Today Commodity Market News Outlook 12 JUNE 2018.


Bullion - Opens on mixed Note Gold -31170-31175 Silver - 40700-40740 

Energy - Opens on mixedNote Crude Oil - 4470-4475 Natural Gas - 200.10-200.30 

Base Metals - Opens on mixed Note Copper -484.50-484.60 Nickel - 1030-1031 Lead -167.50-167.30 Zinc - 217.30-217.45 Aluminium -157.20-157.40




In a relief to road commuters, petrol and diesel prices have seen continuous cuts in 13 days. The decreasing price trend, which started on May 30, continued on Monday with the dip in prices of petrol by Rs 1.85 and diesel by Rs 1.36 so far in Delhi.

Fuel prices vary from state to state depending on local sales tax or VAT. The price dip in petrol was 20 paise on the day as compared to the previous day in the national capital, as per the updated price notification issued by Indian Oil Corporation. The drop in petrol price was same in Mumbai, while it was one paisa higher in Chennai and one paisa lower in Kolkata.

0 comments:

Oil Mixed as Rising US | Today Commodity Market News Outlook Report 11th JUNE 2018.



Bullion - Opens on mixed Note Gold -31140-31150 Silver - 40630-40700 

Energy - Opens on mixedNote Crude Oil - 4420-4425 Natural Gas - 197.30-197.50 

Base Metals - Opens on mixed Note Copper -489.10-489.50 Nickel - 1036-1038 Lead -167.10-167.30 Zinc - 216.50-216.70 Aluminium -156.60-156.80



Oil prices were mixed on Monday, caught between the downward pull of rising Russian production and U.S. oil drilling activity at its highest since 2015, and upward pressure from strong demand, especially in Asia.

However, analysts expect surging U.S. output to start offsetting efforts led by the Organization of the Petroleum Exporting Countries (OPEC) to withhold production, which have been in place since 2017 and in the first half of this year have pushed up prices significantly.

Brent crude futures, the international benchmark for oil prices, were at $76.50 per barrel at 0215 GMT, up 4 cents from their last close.

But U.S. West Texas Intermediate (WTI) crude futures were down 8 cents at $65.66 a barrel.

1 comments:

Oil Prices Rise on Ongoing Venezuelan Supply Trouble | Today Commodity Market News Outlook 08 JUNE 2018.



Bullion - Opens on negative Note Gold -31140-31150 Silver - 40330-40340 

Energy - Opens on negative Note Crude Oil - 4460-4462 Natural Gas - 197.30-197.50 

Base Metals - Opens on negative Note Copper -486.50-486.80 Nickel - 1042-1042.50 Lead -167.70-168 Zinc - 214.60-214.30 Aluminium -155.40-155.50



Oil prices rose on Friday, driven up as Venezuela struggles to meet its supply obligations and by ongoing voluntary output cuts led by producer cartel OPEC.

Brent crude futures , the international benchmark for oil prices, were at $77.45 per barrel at 0051 GMT, up 13 cents, or 0.2 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were up 19 cents, or 0.3 percent, at $66.14 a barrel.


Prices were pushed up by supply trouble in Venezuela, where state-owned oil firm PDVSA is struggling to clear a backlog of around 24 million barrels of crude waiting to be shipped to customers.

1 comments:

Gold Inches up on Weaker Dollar | Today Commodity Market News Outlook 07 June 2018.


Bullion - Opens on positive Note Gold -30970-30980 Silver - 40070-40100 

Energy - Opens on positive Note Crude Oil - 4360-4365 Natural Gas - 194-195 

Base Metals - Opens on positive Note Copper -483-486 Nickel - 1052-1053 Lead -169.10-169.30 Zinc - 214.60-215 Aluminium -157.20-157.50




Gold prices edged higher on Thursday, supported by a weaker dollar amid ongoing concerns about a trade war between the United States and its allies.

The dollar index , which measures the greenback against a basket of six major currencies, fell 0.2 percent to 93.497.

U.S. President Donald Trump is not backing down from the tough line he has taken on trade, the White House's top economic adviser said on Wednesday, setting the stage for a showdown with top allies at this week's G7 summit in Canada.

The European Union expects to hit U.S. imports with additional duties from July, ratcheting up a transatlantic trade conflict after Washington imposed its own tariffs on incoming EU steel and aluminium.

The euro stayed near two-week highs against many of its rivals on Thursday, on rising bets the European Central Bank (ECB) may announce it will wind down its stimulus programme by year-end as early as next week.

0 comments:

US Oil Prices Inch Up On Fall in Local Crude Stockpiles | Today Commodity Market Outlook Report 06 June 2018.


Bullion - Opens on negative Note Gold -30970-30980 Silver - 39740-39780 

Energy - Opens on positive Note Crude Oil - 4405-4410 Natural Gas - 194-195 

Base Metals - Opens on negative Note Copper -474-474.20 Nickel - 1052-1053 Lead -168.50-168.30 Zinc - 214.60-215 Aluminium -156.70-156.90




U.S. oil prices edged up in early Asian trade on Wednesday to move away from lows hit in the previous session, buoyed after industry data showed a decline in U.S. crude inventories.

U.S. crude marked its lowest level in nearly two months on Tuesday after three OPEC and industry sources said the U.S. government has unofficially asked Saudi Arabia and some other OPEC producers to raise oil output, although it has not requested a specific figure.

But U.S. oil had rebounded by Tuesday's close amid expectations U.S. crude oil stockpiles likely fell for a second week last week.



1 comments:

Brent Crude Flat Gold Trading Marginally Lower | Today Commodity Market News Outlook 01 June 2018.

Commodity Opening Bell 

Bullion - Opens on negative Note Gold -30700-30740 Silver - 39700-39750 

Energy - Opens on negative Note Crude Oil - 4502-4505 Natural Gas - 199-199.10 

Base Metals - Opens on negative Note Copper -456-456.50 Nickel - 1030-1029 Lead -165.30-165.60 Zinc - 209.70-209.90 Aluminium -155.50-155.60



MCX Gold prices edged higher in evening trades on Thursday after U.S. economic data but overall prices are still in pressure. On the daily chart, Gold has given breakdown of rising wedge pattern; which indicate bearish reversal for near term.

MCX Silver prices traded range bound on Thursday session. On the daily chart, price has been falling down from last couple of days.

MCX Copper has traded sideways on Thursday. On the daily chart, price has given rising channel breakdown and sustained below it; which indicate bearish sentiments in the counter.

MCX ZINC price has noted correction on Thursday due to expiry movement. On the daily chart, price has pulled back after taking a support at lower Bollinger band and 21 days SMA; which indicate further buying in the counter for near term. 

Oil prices rebounded on Thursday as crude oil inventories fell by 3.620 million barrels in the week ended May 25. On daily chart MCX Price has given rising channel breakdown and sustained below it 

0 comments:

Oil Prices Dip On Unexpected Growth in US Crude Stocks | Today Commodity Market News Outlook 31 May 2018.



Bullion - Opens on positive Note Gold -31050-31070 Silver - 40050-40070 

Energy - Opens on mixed Note Crude Oil - 4605-4609 Natural Gas - 196.10-196.40 

Base Metals - Opens on mixed Note Copper -458.50-459 Nickel - 1010-1015 Lead -163.80-164 Zinc - 211.75-212 Aluminium -153.20-153.30













Oil prices dropped on Thursday, weighed down by a surprise rise in U.S. crude inventories and by expectations that OPEC and other producers could increase output at a meeting in June.

Brent crude was down 20 cents at $77.30 per barrel at 0041 GMT, after settling the last session up 2.8 percent.

U.S. West Texas Intermediate crude was down 20 cents at $68.01 a barrel. In the previous session, it settled up $1.48, or 2.2 percent, at $68.21 per barrel.

0 comments:

Oil Prices Mixed Amid Worries over Growing Supplies | Today Commodity Market News Outlook 30 May 2018.


Bullion - Opens on negative Note Gold -31050-31070 Silver - 39880-39920 

Energy - Opens on negative Note Crude Oil - 4500-4520 Natural Gas - 197-197.40 

Base Metals - Opens on negative Note Copper -457-458 Nickel - 995-997 Lead -163.80-164 Zinc - 207.30-207.50 Aluminium -153.20-153.30




Oil prices were mixed in early Asian trade on Wednesday, with worries that Saudi Arabia and Russia will pump more crude weighing on the market.

Saudi Arabia and Russia have discussed raising OPEC and non-OPEC oil production by 1 million barrels per day (bpd) to counter potential supply shortfalls from Venezuela and Iran.

Brent crude was down 1 cent at $75.38 a barrel by 0015 GMT, after settling up 9 cents on Tuesday.

U.S. West Texas Intermediate crude was up 13 cents, or 0.2 percent, at $66.86 a barrel, having earlier settled down $1.15.

0 comments:

Gold Steady After Two Sessions of Fall | Today Commodity Market News Outlook 29 May 2018.

strong dollar weighs on market


Bullion - Opens on positive Note Gold -31050-31070 Silver - 40060-40070 

Energy - Opens on positive Note Crude Oil - 4530-4535 Natural Gas - 201-201.50 

Base Metals - Opens on positive Note Copper -462-462.50 Nickel - 1005-1010 Lead -165-166 Zinc - 208-208.50 Aluminium -153-80-153.90



Gold prices fell on Monday on revived hopes of a U.S.-North Korea summit, while a strong dollar also weighed on the market.

Spot gold was down 0.3 percent at $1,297.71 per ounce at 0243 GMT, while U.S. gold futures for June delivery fell 0.5 percent to $1,297.10 per ounce.

"It looks like there is some chance of a meeting between the U.S. and North Korea leaders, that would lower the geopolitical risks and lessen the appeal of gold," said John Sharma, an economist with National Australia Bank, adding that a strong dollar was also pressuring prices.

1 comments:

Oil Prices Drop On Potential Increase in OPEC Output | Today Commodity Market 28 May 2018.



Bullion - Opens on negative Note Gold -30950-30980 Silver - 39950-40000 

Energy - Opens on negative Note Crude Oil - 4470-4490 Natural Gas -199-200 

Base Metals - Opens on negative Note Copper -460.50-461 Nickel -990-995 Lead -162-160 Zinc - 206.50-207 Aluminium -152.30-153




Oil prices fell on Thursday on expectations that OPEC members will step up production in the face of worries over supply from both Venezuela and Iran.

A surprise build up in crude oil inventories in the United States also weighed on prices, driving the spread between Brent crude and U.S. West Texas Intermediate (WTI) close to its widest in three years.

International benchmark Brent futures were down 27 cents, or 0.34 percent, at $79.53 per barrel at 0300 GMT.


U.S. West Texas Intermediate (WTI) crude futures were down 17 cents, or 0.24 percent, at $71.67 a barrel.

0 comments:

Brent Crude Around 80 Dollar Gold Trading Flat | Today Commodity Market News Outlook 18 May 2018.

Commodity Market News

Gold prices made modest gains on Thursday after touching their lowest level this year in the previous session, amid geopolitical uncertainty and a slightly weaker U.S. dollar.

Spot gold had risen 0.25 percent to $1,293.43 per ounce by 0255 GMT, after marking its lowest since December 27 in the previous session at $1,286.20.

U.S. gold futures for June delivery were 0.1-percent higher at $1,292.80 per ounce.



Crude oil prices edged higher in Thursday’s session and are currently trading near the resistance levels of 4,890. On the hourly chart, RSI has moved higher above 60-levels, indicating high momentum in prices.

A close above 4,890 will be positive for prices and we can expect them to touch 4,950-levels.

Prices of copper edged higher in Thursday’s session and are currently trading near the resistance levels of 464.

A close above 464-levels will be a positive for prices and we expect them to touch 468-levels on an intra-day basis.

1 comments:

Oil Markets Firm as Brent Edges Ever Closer to $80 Per Barrel on Tight Market | Today Commodity Market News Outlook 17 May 2018.



Bullion - Opens on negative Note Gold -30965-30975 Silver - 39900-39929 

Energy - Opens on mixed Note Crude Oil - 4850-4840 Natural Gas -190-191 

Base Metals - Opens on positive Note Copper -462.20-462.50 Nickel -982-984 Lead -158.40-158.60 Zinc - 208.80-209 Aluminium -159.10-159.30


Oil prices firmed on Thursday, with Brent crude creeping ever closer to $80 per barrel, a level it has not seen since November 2014, as supplies tighten while demand remains strong.

Brent crude futures were at $79.32 per barrel at 0027 GMT, up 4 cents from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $71.68 a barrel, up 19 cents, or 0.3 percent, from their last settlement.


ANZ bank said on Thursday that Brent was "now threatening to break through $80 per barrel ... (as) geopolitical risks continue to support prices, (and) an unexpected fall in inventories in the U.S. got investors excited yesterday."

0 comments:

Gold, Silver Decline on Subdued Demand | Today Commodity Market News 16 May 2018.


Bullion - Opens on negative Note Gold -31110-31150 Silver - 39750-39780 

Energy - Opens on negative Note Crude Oil - 4830-4840 Natural Gas -192.50-193 

Base Metals - Opens on negative Note Copper -461-461.50 Nickel -982-984 Lead -160-159.50 Zinc - 208.30-208.40 Aluminium -158.80-159.



Gold prices eased further by Rs 20 to Rs 31,420 per 10 grams at the bullion market here due to lower demand from stockists and retailers amid bearish global cues.

Silver prices too dropped further by Rs 235 to Rs 39,805 per kg following subdued offtake from industrial units.

Standard gold (99.5 percent purity) prices fell by Rs 20 to close at Rs 31,420 per 10 grams from Monday's closing level of Rs 31,440.

Pure gold (99.9 percent purity) also moved down by a similar margin to end at Rs 31,570 per 10 grams as against Rs 31,590 yesterday.

0 comments:

Oil Near November 2014 Highs Firm as Markets Tighten Amid OPEC Cuts | Today Commodity Market Outlook 15 MAY 2018.



Bullion - Opens on negative Note Gold -31385-31380 Silver - 40150-40200 

Energy - Opens on mixed Note Crude Oil - 4798-4800 Natural Gas -191.80-192 

Base Metals - Opens on mixed Note Copper -462.50-462.70 Nickel -970-972 Lead -160.70-160.80 Zinc - 207.30-207.35 Aluminium -157.30-157.35




Oil prices held firm on Tuesday as ongoing production cuts by OPEC and looming U.S. sanctions against Iran tightened the market amid strong demand.

Brent crude futures , the international benchmark for oil prices, were at $78.37 per barrel at 0028 GMT, up 14 cents from their last close and not far off a three-and-a-half year high of $78.53 a barrel reached the previous session.

U.S. West Texas Intermediate (WTI) crude futures were at $71.09 a barrel, up 13 cents and also not far off their Nov. 2014 high of $71.89 a barrel reached last week.

0 comments:

Oil Ebbs From Multi-Year Highs on Surge in US Drilling | Today Commodity Market News Outlook 14 May 2018.

Commodity Market News

Oil prices on Monday fell away from last week's multi-year highs as a relentless rise in U.S. drilling activity pointed to increased output, while resistance emerged in Europe and Asia to U.S. sanctions against major crude exporter Iran.

Still, crude prices remained near more than three-year-highs reached last week as markets expect Iran's oil exports to fall significantly once U.S. sanctions bite later this year.

Brent crude futures were at $76.79 per barrel at 0229 GMT, down 33 cents, or 0.4 percent from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $70.51 a barrel, down 19 cents, or 0.3 percent.

Brent and WTI last week reached their highest since November 2014 at $78 and $71.89 per barrel respectively.

"Around a million barrels of oil a day is likely to disappear from global oil markets if the U.S. sanctions on Iran bite," said Greg McKenna, chief market strategist at futures brokerage AxiTrader.

"But it is still far from certain that they will bite in the way intended... Germany has said it will protect its companies from U.S. sanctions, Iran has said French oil giant Total has yet to pull out of its fields and all the while it seems the Chinese are ready to fill the void created by the U.S



1 comments:

Oil Dips From Recent Highs on Hopes of Alternatives to Iran Supply | Today Commodity Market News Outlook 11 May 2018.



Bullion - Opens on positive Note Gold -31385-31380 Silver - 40380-40400 

Energy - Opens on mixed Note Crude Oil - 4785-4790 Natural Gas -188.60-188.80 

Base Metals - Opens on mixed Note Copper -463.20-463.40 Nickel -931-932 Lead -155.70-156 Zinc - 207.30-207.35 Aluminium -155.70-155.60




Oil prices on Friday dipped away from multi-year highs reached the previous session on hopes that alternative supplies could replace a looming drop in Iranian exports when US sanctions against Tehran are re-imposed.

The United States plans to re-introduce sanctions against Iran, which produces around 4 percent of global oil supplies, after abandoning an agreement reached in late 2015 that limited Tehran's nuclear ambitions in exchange for removing US-Europe sanctions.

The sanctions come amid an oil market that has been tightening due to strong demand, especially in Asia, and as top exporter Saudi Arabia and No.1 producer Russia have led efforts since 2017 to withhold oil supplies to prop up prices.

0 comments:

Oil Hits 3-1/2-year High After US Quits Iran Deal | Today Commodity Market News Outlook 10 May 2018.



Bullion - Opens on positive Note Gold -31350-31355 Silver - 40115-40130 

Energy - Opens on mixed Note Crude Oil - 4830-4840 Natural Gas -184.60-184.80 

Base Metals - Opens on mixed Note Copper -459.20-459.50 Nickel -934-935 Lead -154.90-155 Zinc - 208-208.30 Aluminium -158-158.30



Oil prices rose more than 3 percent on Wednesday, hitting 3-1/2-year highs, after U.S. President Trump abandoned a nuclear deal with Iran and announced the "highest level" of sanctions against the OPEC member.

Ignoring pleas by allies, Trump on Tuesday pulled out of an international agreement with Iran that was agreed in late 2015, raising the risk of conflict in the Middle East and casting uncertainty over global oil supplies at a time when the crude market is already tight.

Brent crude oil touched its highest since November 2014 at $77.20 a barrel. The benchmark contract was up $2.00 a barrel, or more than 2.6 percent, at $76.85 by 0930 GMT.


U.S. light crude was up $1.90 a barrel, or almost 2.8 percent, at $70.96, near highs also last seen in late 2014.

0 comments:

Natural Gas Break The Resistance | Today Commodity Market News Outlook 09 May 2018.



Bullion - Opens on positive Note Gold -31250-31280 Silver -39950-39900 

Energy - Opens on positive Note Crude Oil - 4755-4760 Natural Gas -184.60-184.80 

Base Metals - Opens on positive Note Copper -457-457.50 Nickel -933-934 Lead -155.30-155.50 Zinc - 207.50-208 Aluminium -161.20-161.50


Natural gas prices edged higher in Tuesday’s session. Prices are currently trading near the intermediate resistance levels of 186.50.

On the hourly chart, RSI is above 60-levels, indicating high momentum in prices.

An hourly close above 186.50 can push prices higher towards 190-levels. 


Silver prices gapped up in Monday’s session and failed to sustain the resistance levels of 40,000. Presently, it is trading near the intermediate support level of 39,860.

An hourly close below the mentioned level will be negative for silver and prices may drift lower towards 39,600-levels.

0 comments:

What Should Be Strategy in The Commodity Market Today Levels Update 07 MAY 2018.


Commodity Opening Bell
Bullion - Opens on positive Note Gold -31200-31250 Silver -39900-39950

Energy - Opens on positive Note Crude Oil - 4700-4750 Natural Gas -183.50-183

Base Metals - Opens on positive Note Copper -459-460 Nickel -935-398 Lead -156.10-156.40 Zinc - 206-206.75 Aluminium -159.50-159.80














This week the US can again impose economic sanctions on Iran and before that the stir in crude oil has increased. Nymex Crude has also gone beyond $ 70 now. Brent is trading above $ 75. It has gained about 1 per cent and its price is at the height of 3.5 years. The pressure on rupee has increased due to the rise in crude oil. Rupee has slipped to the lowest level of 15 months against the dollar. The price of 1 dollar has crossed Rs 67. The rupee has been trading with a decline of more than 0.25 percent.


On the other hand gold is also trading on the increase and its price is above $ 1315. While silver has climbed nearly 0.5 percent, it crossed the $ 16.5 mark. Today the London Metal Exchange is closed, but the base metal in China is strong and especially in Zinc, the recovery from the lower level of the last 9 months has come.

0 comments:

Oil Prices Hold Steady as US Decision on Iran Sanctions Looms | Today Commodity Market Outlook 04 May 2018.


Bullion - Opens on positive Note Gold -31020-31025 Silver -39610-39615 

Energy - Opens on mixed Note Crude Oil - 4560-4565 Natural Gas -182.50-183 

Base Metals - Opens on positive Note Copper -458.50-458.90 Nickel -932-934 Lead -151.90-152 Zinc - 201.20-201.30 Aluminium -153.60-153.80


Oil prices held steady on Friday after shedding earlier gains, as market jitters kicked in over the prospect of geopolitical risks from possible new US sanctions against Iran.

US West Texas Intermediate (WTI) crude futures were trading 1 cent lower at USD 68.42 per barrel by 0258 GMT.

Brent crude oil futures were at USD 73.59 per barrel, down 3 cents, or 0.04 percent, from their last close after touching a intraday high of USD 73.80 per barrel in early morning trading.

Technical analysis from Reuters' Wang Tao showed the market may retest a price support level at USD 72.39 per barrel after peaking around a resistance at USD 75.45.

0 comments:

Oil Rises on Iran Concerns | Today Commodity Market News Outlook 03 MAY 2018.


Bullion - Opens on mixed Note Gold -30900-30940 Silver -39500-39550 

Energy - Opens on mixed Note Crude Oil - 4520-4522 Natural Gas -184.20-184.40 

Base Metals - Opens on mixed Note Copper -453.60-454 Nickel -929-928 Lead -152.60-152.80 Zinc - 205.10-205.30 Aluminium -154.80-155



Oil recovered some ground on Wednesday after the previous day's slide, helped by concerns about possible renewed U.S. sanctions on major exporter Iran although price gains were capped by rising U.S. supply.

Brent crude oil futures were up 31 cents at $73.44 a barrel by 0900 GMT, after falling nearly 3 percent on Tuesday to its lowest in two weeks.

U.S. West Texas Intermediate (WTI) crude futures rose 50 cents to $67.75 per barrel.

"Geopolitical noise remains loud and in part pushed oil prices towards $75 per barrel," said Norbert Ruecker, head of commodity and macro strategy at Julius Baer. "The elevated uncertainty suggests volatile but range-bound oil prices going forward."

0 comments:

TODAY COMMODITY MARKET NEWS & LEVELS UPDATE 02 MAY 2018.


Bullion - Opens on positive Note Gold -30990-31010 Silver -39340-39360 

Energy - Opens on positive Note Crude Oil - 4510-4515 Natural Gas -187-187.50 

Base Metals - Opens on positive Note Copper -455-455.50 Nickel -927-928 Lead -155.30-155.40 Zinc - 206-206.75 Aluminium -151-151.10



Gold prices edged up in today’s session after falling almost 1% in the previous session on the back of firmer U.S Dollar. Asian shares traded steady whereas the greenback was steady near a fourmonth high supported by the opinions of stronger U.S economy and rising yields amid signs of slowdown elsewhere, especially in Europe.

After being under pressure over the last couple of sessions, metals are witnessing some cool off. Aluminium and zinc prices slipped after US delayed aluminium and steel tariffs for some countries and announced permanent exemptions for others, raising the prospect of better metal supply. 

Crude oil prices are trading firm after falling yesterday after data from API which showed large build of 3.427 million barrels of U.S. crude oil inventories for the week ending April 27, compared to expectations of smaller build in crude oil inventories of 739,000 barrels.

0 comments:

Brent Crude Around 75 Dollar Gold Trading Marginally High | Today Commodity Market News Outlook 24 April 2018.


Commodity Opening Bell 

Bullion - Opens on negative Note Gold -31250-31255 Silver -39480-39500

Energy - Opens on mixed Note Crude Oil - 4580-4584 Natural Gas -181.50-182

Base Metals - Opens on mixed Note Copper -457.50-458 Nickel -949-950 Lead -154.20-154.30 Zinc - 214.80-214.50 Aluminium -150-150.30


Precious metals prices hit a twoweek low as investors piled into the dollar with U.S. Treasury yields approaching 3 percent.Precious metals are trading higher on COMEX today. We expect prices to trade range bound for the day, a day after falling to the lowest level in more than two weeks, as a climb in the dollar and 10-year U.S. Treasury yields dampened the appeal of bullion, which pays no interest.

SPDR Gold Trust GLD, the world's largest gold-backed exchangetraded fund, said its holdings stood at 865.89 tonnes, remain unchanged from previous business day. 

Industrial metals are trading higher on International bourses today. We expect prices to trade range bound for the day except for aluminum after Washington gave U.S. customers of Russian producer United Company Rusal more time to close out their business with the company and comply with sanctions.

Crude oil is trading higher on NYMEX today. We expect prices to trade range bound to higher for the day, on expectations that supplies will tighten because fuel is rising at the same time the United States may impose sanctions against Iran and OPEC-led output cuts remain in place.
 

1 comments:

Brent Crude Around 74 Dollar Gold Marginally Down | Today Commodity Market News 23 APRIL 2018.


Bullion - Opens on mixed Note Gold -31360-31370 Silver -40260-40300

Energy - Opens on mixed Note Crude Oil - 4540-4045 Natural Gas -181.50-182 

Base Metals - Opens on mixed Note Copper -461-462 Nickel -977-978 Lead -155-50-155.70 Zinc - 215.20-215.50 Aluminium -166.50-167



MCX Gold futures were slightly lower on Friday, in the absence of first-tier US economic data. On the daily chart, prices has taken support of 21 day SMA which indicate bullishness in the price.

MCX Silver price closed down on Friday. On a daily Chart, price has given “symmetrical pattern” upside breakout; which indicate a further bullishness in price .In addition, Price has sustained above “Ichimoku Cloud” where TenkanSen has crossed KijunSen, which suggest more bullish trend in the counter.

MCX Copper prices closed flat on Friday amid a bout of technical selling, although the outlook remains positive with demand expected to peak in the next few months.


MCX Zinc prices closed up on Friday. On the 4 hour chart, Price has taken support of falling trend line, which indicate price and given further pull back from there; which indicate a reversal move in the price.

0 comments:

Oil Retailers Rebound | Today Commodity Market News Outlook Report 20 Apr 2018.


Bullion - Opens on negative Note Gold -31470-31480 Silver -40420-40400 

Energy - Opens on negative Note Crude Oil - 4515-4520 Natural Gas -176.50-177 

Base Metals - Opens on negative Note Copper -456-456.50 Nickel -965-968 Lead -154.20-154.35 Zinc - 212.50-213 Aluminium -162-162.50

Commodity Market News

MCX Gold futures traded flat Thursday, as Gold remained slightly softer Thursday after news that the current general activity index in the Philadelphia Fed’s manufacturing business outlook survey rose to 23.2 in April from 22.3.

MCX Silver price closed flat on Thursday. On a daily Chart, price has given “symmetrical pattern” upside breakout; which indicate a further bullishness in price.

MCX Copper prices closed down on Thursday amid a bout of technical selling, although the outlook remains positive with demand expected to peak in the next few months.

Zinc prices closed down on Thursday. On the 4 hour chart, Price has taken support of falling trend line, which indicate price and given further pull back from there; which indicate a reversal move in the price.

MCX Crude prices up on Thursday Crude Oil Price Jumps on Inventory Drawdown. On the other hand, price has given “ascending trendline "breakout and has taken trend line support, which indicate positive strength in the prices In addition.


0 comments:

Subscribe to: Comments (Atom)