Market Update

Market Watch

Friday, 4 October 2013

Mcx Market Watch

Oil and Gas price Forecast:
Recently the state-owned GSPC acquired a stake in Gujarat gas company however,there are many questions in the minds of investors about the possible synergies between the two and possible mergers.As the transition process is still underway,investors seek to know about the strategy for growth and possible change of guard at the management level.

The management has provides a forecast on oil and gas process where it expects Brent and RLNG prices to remain stable till 2017.however remain a concern is that the process are expected to move sharply on the domestic front.many feel that this would impact the performance of the company and reduce the margins,considering that GGCL sources 50 percent from domestic markets.

PRECIOUS-Gold set to end week lower but U.S. shutdown stems losses.

Gold is set for its biggest weekly drop in three weeks but declines have been kept in check by a partial U.S. government shutdown that threatens to hurt economic growth, increasing bullion's safe-haven appeal.

The metal's 1.5 percent loss for the week so far was largely due to a single massive Comex sell order on Tuesday that sent prices below $1,300 an ounce, but it quickly recovered as the budget impasse in Washington dragged on.

"I think it is very sensitive to sharp dips right now as there is no China to support," said one precious metals trader in Hong Kong. "Since we have been on a data-watch for tapering news, that could dampen sentiment as well."

Fed officials have said this week that the lack of data was making it difficult to read the economy and the Fed might have to keep monetary policy for longer to help offset the harm caused by political fighting in Washington
    Spot gold eased 0.1 percent to $1,315.44 an ounce by 0307 GMT after sharp swings earlier in the week.

The shutdown of the U.S. government appeared likely to drag on for another week and possibly longer as lawmakers consumed day three of the shutdown with a stalling game, raising fears that the impasse could hurt a more significant mid-October deadline to raise the U.S. debt ceiling.

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