Market Update

Market Watch

Saturday 28 February 2015

Mcx Trading Tips; Gold futures advance on firm global cues

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Today in Mcx Market Gold prices rose 0.45 per cent
to Rs 26,434 per 10 grams in futures trade as speculators created fresh positions after the precious metal climbed in global markets. At the Multi Commodity Exchange, gold for delivery in June was up by Rs 119, or 0.45 per cent, to Rs 26,434 per 10 grams in a business turnover of four lots.
The metal for delivery in April moved up by Rs 99, or 0.38 per cent, to Rs 26,222 per 10 grams in a turnover of 325 lots. Meanwhile, gold rose by 0.4 per cent to $1,209.79 an ounce in Singapore.Gold prices were little changed on Friday, as markets eyed the release of U.S. fourth quarter economic growth data later in the day, after a batch of disappointing reports on Thursday dampened optimism over the country's recovery.

Crude Oil finished the month of February above
$49 a barrel, marking the first monthly gain since last June when oil prices began a prolonged slide. On the New York Mercantile Exchange, WTI crude oil for April delivery rose 2.65% or 1.27 points to $49.45 a barrel. The sharp increased continued the trend of volatile price fluctuations, as prices have wavered dramatically over the last several weeks.

Wednesday 25 February 2015

Mcx Trading Tips: Get Bullion Online Market Updates

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Positive impact likely for Bullion sector :-
Impact is likely to be positive for the precious metal sector in India Budget 2015-16. The bullion sector, especially the Gold jewellery sector, is back in focus with the recent announcements made by the government and the Reserve Bank of India(RBI).
RBI allowed imports of coins and medallions recently but the import duty on gold is still quite high and the government may slash it in this Budget. The government may consider a reduction of 2-4 per cent in import duty on gold in the forthcoming budget, a move that could help boost exports and manufacturing of gems and jewellery.

Gold bounces off 7-week low
:-
Gold edged higher on Wednesday after dropping to a seven-week low the session before, with Federal Reserve Chair Janet Yellen indicating flexibility in raising US interest rates. Yellen said on Tuesday that while the Fed is preparing to consider rate hikes on a "meeting-by-meeting basis", an increase is not likely for at least the next couple of meetings.
BULLION MARKET FUNDAMENTALS :-
* Spot gold was up half a percent at USD 1,206 an ounce by 0021 GMT, after hitting its weakest since Jan. 5 on Tuesday at USD 1,190.91.
* US gold for April delivery gained 0.8 percent to USD 1,206.30 an ounce. Silver, both spot and futures , rose more than 1 percent.
* Asian shares rose, tracking gains on Wall Street, after Yellen said it would be several months before the Fed expects to boost interest rates.

Tuesday 24 February 2015

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Gold prices up a tad in early Asia:-
Gold steadied near a seven-week low on Tuesday as investors looked to Federal Reserve Chair Janet Yellen's Senate testimony for signs of when the U.S. central bank could raise interest rates. Gold prices rose slightly in early Asia on Tuesday with China markets set to re-open on Wednesday and Greece still to turn over its lisst of reforms needed to secure further euro zone loans.
On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rose 0.14% to trade at $1,203.10.Meanwhile, silver futures for March delivery gained 0.18% to trade at $16.360 a troy ounce. Elsewhere on the Comex, copper for March delivery was flat at $2.589 a pound in holiday-thinned trade.
Spot gold was little changed at $1,201.10 an ounce by 0247 GMT. The metal on Monday hit its weakest since Jan. 5 at $1,191.01.Gold has fallen more than 6 percent this month, nearly erasing January's 8.4-percent gain, which was its biggest in three years. U.S. gold for April delivery was also nearly flat at $1,201.50 an ounce.
MCX Silverm April contract declines:-
February contract was trading at Rs 35958 down Rs 370, or 1.02 percent. The SILVERM rate touched an intraday high of Rs 36450 and an intraday low of Rs 35807. So far 13840 contracts have been traded. SILVERM prices have moved down Rs 8109, or 18.40 percent in the February series so far.