Commodity Tips

Crude Oil Update - oil futures gain 2.68% on global cues

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Sat, 21 Mar 2020 06:43:00 +0000

Crude oil prices on March 20 rose 2.68 percent to Rs 2,033 per barrel as participants widened their positions tracking a positive trend overseas. On the Multi Commodity Exchange, crude oil for delivery in April traded higher by Rs 53, or 2.68 percent, to Rs 2,033 per barrel in 46,577 lots.

Crude oil for May delivery was up by Rs 28, or 1.31 percent, to Rs 2,158 per barrel with an open interest of 822 lots.

Analysts said raising of bets by participants kept crude prices higher in futures trade here.

Globally, West Texas Intermediate was trading higher by 1.71 percent at $25.65 per barrel and, Brent crude was up by 1.16 percent to $28.80 per barrel in New York.

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Gold Updates - Yellow metal slips more than 1%; may find support at 38,300

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Fri, 20 Mar 2020 06:22:00 +0000

India Gold April futures plunged more than 1 percent on March 19 despite measures announced by the European Central Bank to mitigate the economic effects of the coronavirus epidemic.

The spot Gold prices also pared gains after starting on a positive note with a loss of over 1 percent. Gold has fallen quickly from the recent swing high of $1,703 on March 9 to $1,464 an ounce (intraday) on March 19 that translates in a fall of 14 percent.

Experts are of the view that profit booking in Gold prices is likely to continue, and the yellow metal could find some support near 38,300 levels, suggest experts.
On the Multi Commodity Exchange (MCX), April gold contracts were trading lower by Rs 546, or 1.3 percent, at Rs 39,177 per 10 gram at 09:20 hours.

Gold and silver prices crashed again on Wednesday after the U.S. dollar catch the safe-haven bid and gained more than 2 percent. The Dollar index crossed 101.50 in an intraday session on Wednesday. Gold breached $1500 and silver also breached $12 per troy ounce levels.

“Gold is expected to be traded in the range of $1450-1532 and silver is expected to be traded in the range of $11.40-12.80 per troy ounce in the international market.

Jain further added that at MCX, Gold prices are expected to be traded in the range of 38,300-40,400 range and silver is expected to be traded in the range of 32,500-35,800.

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क्रूड ऑयल प्राइस: $30 के भाव के आसपास

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Thu, 19 Mar 2020 06:55:00 +0000

कोरोना वायरस के बढ़ते कहर के बीच दुनिया भर की सरकार राहत पैकेज जारी कर रही है. कई देशों के केंद्रीय बैंक बाजार में नकदी बढ़ाने के लिए तमाम प्रयास कर रहे हैं. इसके बाद भी बाजार में कहीं भी ठहराव नहीं दिख रहा है. सुरक्षित निवेश साधन माने जाने वाले सोना और चांदी भी लुढ़कते जा रहे हैं.

तेल कंपनियों ने भारत में बुधवार को दूसरे दिन भी तेल की कीमतों में कोई बदलाव नहीं किया है, सभी मेट्रो शहरों में तेल की कीमतें स्थिर हैं.

कोरोना वायरस का सबसे सीधा और अधिक असर कच्चे तेल पर देखने को मिला है. चीन में कोरोना वायरस संक्रमण का मामला सामने आने के तुरंत बाद से कच्चे तेल की अंतर्राष्ट्रीय कीमत में गिरावट शुरू हो गई.

30 दिसंबर 2019 को प्रमुख कच्चे तेल ब्रेंट क्रूड का भाव 68.60 डॉलर प्रति बैरल था. यह मंगलवार को दोपहर बाद के कारोबार में 29.62 डॉलर प्रति बैरल पर ट्रेड कर रहा था जो 56.82% या 38.98 डॉलर की गिरावट दिखाता है.

क्रूड के भाव बढ़ाने के लिए तेल निर्यातक देशों के संगठन ओपेक और रूस के बीच उत्पादन घटाने को लेकर हुई चर्चा विफल हो गई, इसके बाद सऊदी अरब ने अपनी ओर से प्राइस वार शुरू कर दिया है. उसने तेल का उत्पादन बढ़ा दिया और कीमत घटा दी. प्राइस वार शुरू होने से तेल को एक और झटका लगा और इसकी कीमत में भारी गिरावट आई है.

इसके पहले साल 2015 में भी तेल कीमत में भारी गिरावट आई थी और 18 जनवरी 2016 को ब्रेंट क्रूड 30.09 डॉलर के निचले स्तर पर बंद हुआ था. कच्चे तेल के भाव में मंगलवार को भारी गिरावट देखने को मिली है. कोरोना वायरस के बढ़ते संक्रमण के कारण तेल की डिमांड घटने की वजह से क्रूड के भाव पर दबाव है. ब्रेंट क्रूड मंगलवार को चार फीसदी गिरकर 32 डॉलर के करीब पहुंच गया है.

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Soybeans Recover From a 10-Month Low, Gains Capped By Coronavirus Worries...

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Tue, 17 Mar 2020 08:44:00 +0000

Wheat was little changed after Monday's slide to its lowest since October, while corn recovered from a six-month low to trade higher.

A bit of bargain buying and issues around food security are supporting prices of grains and oilseeds, said Phin Ziebell, an agribusiness economist at National Australia Bank.

Most Asian shares fell a day after Wall Street's historic market rout, with fleeting initial gains evaporating as the coronavirus remained a major risk to economic growth.

The most-active soybean contract on the Chicago Board Of Trade added 0.8% at $8.28 a bushel by 0251 GMT, having slumped 3.2% on Monday when prices hit their lowest since May 24 at $8.21 a bushel.

Corn was up 0.3% at $3.55-3/4 a bushel after hitting a trough of $3.53-3/4 a bushel earlier in the session - the lowest since Sept. 12.

Wheat was unchanged at $4.98 a bushel, having dropped to its lowest since Oct. 11 at $4.91-3/4 a bushel on Monday.

Grain prices have come under sustained pressure as the coronavirus pandemic threatens demand for commodities although food demand is likely to provide a flood under agricultural markets.

The U.S. Agriculture Department said on Monday morning that weekly export inspections came in at 977,879 tonnes for corn, 449,653 tonnes for wheat and 436,358 tonnes for soybeans. The weekly totals were in line with market forecasts.

The U.S. soybean crush in February topped most analysts' forecasts and hit the highest level on record for the shortest month of the year, according to data issued by the National Oilseed Processors Association (NOPA) on Monday.

The association said its members, who handle about 95% of all soybeans crushed in the United States, processed 166.288 million bushels of soybeans last month, down from the 176.940 million bushels crushed in January, an all-time high for any month, but up from the February 2019 crush of 154.498 million bushels.

Commodity funds were net sellers of CBOT corn-soybean, soya oil, soya meal, and wheat futures contracts on Monday, traders said.

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Gold Prices rises after Fed rate cut

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Tue, 17 Mar 2020 05:06:00 +0000

Gold prices jumped in early trade on Monday after another emergency rate cut by the U.S. Federal Reserve, before paring gains as some investors sold the metal for cash amid a sell-off in equities.

Spot gold was up 0.9% at $1,543.60 per ounce by 0248 GMT, having risen as much as 2.8% earlier. The metal fell 3% on Friday. U.S. gold futures rose 1.8% to $1,544.20 per ounce.

Prices rose initially due to the surprise Fed rate cut, said CMC Markets analyst Margaret Yang Yan, adding that: "The market is very indecisive and there are divergent opinions. Investors are now dumping everything. They just want cash."

The Fed slashed rates back to near zero, restarted bond buying and joined with other central banks to help put a floor under a rapidly disintegrating global economy amid the escalating coronavirus pandemic.

Following the Fed's footsteps, the New Zealand central bank slashed rates to a record low, while European Union finance ministers plan to agree on a coordinated economic response.

Among other precious metals, palladium fell 3.2% to $1,748.63 per ounce, having fallen more than 5% earlier in the session, while platinum slipped 0.4% to $758.50. Silver gained 0.4% to $14.74 per ounce.

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MCX COMMODITY MARKET GOLD NEWS - 11 MAR 2020

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Wed, 11 Mar 2020 05:19:00 +0000

Precious metal prices are likely to remain volatile tracking weak rupee, and expectations of some stimulus measures across the world to support the economic activity will trigger risk-on sentiment.

Indian April Gold futures fell from highs on March 11 tracking weakness in international spot Gold prices as expectations of global policy measures to alleviate the economic impact from the coronavirus eased some investors’ concerns.
Bullion rose as much as 1.7 percent on Monday to its highest level since December 2012 ($1,702.56) after a rout in global equity markets and crashing crude oil prices.

On the Multi Commodity Exchange (MCX), April gold contracts were trading lower by Rs 37, or 0.08 percent, at Rs 43,703 per 10 gram at 09:20 hrs.

Gold and silver prices slipped more than 1 percent on Tuesday. Global financial markets are highly volatile since the last week after coronavirus spreads to other countries, global crude oil price war and record low US 10-year bond yields.

Precious metal prices are likely to remain volatile tracking weak rupee, and expectations of some stimulus measures across the world to support the economic activity will trigger risk-on sentiment.

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Commodity Market News Update - Crude & Gold

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Wed, 04 Mar 2020 06:34:00 +0000

Gold prices rose on Wednesday, extending gains from a 3 per cent rise in the previous session as the US Federal Reserve slashed its benchmark interest rate to cushion the economic impact from the fast-spreading coronavirus.

Spot gold climbed 0.3 per cent to $1,643.76 per ounce by 0257 GMT, having registered its biggest one-day percentage gain since 2016 on Tuesday. US gold futures gained 0.1 per cent to $1,645.30.

The Fed trimmed interest rates by 50 basis points on Tuesday in an emergency move to safeguard the world's largest economy from the impact of the epidemic.

The rate cut was the US central bank's first outside of a regularly scheduled policy meeting since 2008 at the height of the financial crisis.

On Tuesday, WTI Crude prices ended higher by 0.92 percent to close at $47.2 per barrel over after the Dollar declined making Crude cheaper for other currency holders. Prices were further supported on expectations that the OPEC+ would further trim their output to counter the slumping demand due to the coronavirus outbreak in the major Crude consumer, China. OPEC+ plans to meet in Vienna on 5th -6 th March 2020. The OPEC+ might further trim their output by 1 million barrels per day in addition to the 2.1 million bpd in current output cuts. Possible supply curbs arising from major exporting countries might support Crude.

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Commodity Gold New Update - 03 MAR 2020

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Tue, 03 Mar 2020 06:50:00 +0000

Gold rose nearly 1 per cent on Monday after suffering its largest daily fall in nearly seven years, as expectations grew for policy easing by the US Federal Reserve and other central banks to help boost the coronavirus-hit global economy.

Spot gold was up 0.4 per cent at $1,591.84 an ounce by 1:40 p.m. EST (1840 GMT), and US gold futures settled 1.8 per cent higher at $1,594.80.

On Friday, the precious metals market was routed by traders liquidating their positions amidst a coronavirus-led selloff across global markets, with gold diving as much as 4.5 per cent.

The dollar index slid on bets that the Fed is likely to ease policy, while implied yields on the US 10-year Treasury futures traded below 1 per cent for the first time.
Palladium slipped 2.9 per cent to $2,519.39 an ounce, having plunged as much as 13 per cent on Friday, the most since the 2008 financial crisis.
Platinum dipped 0.6 per cent to $858.42, while silver rose 0.3 per cent to $16.72, after both fell to their lowest levels in about six months in the previous session.
Platinum is on track to end lower for an eighth straight session.

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Gold rose more than 1 per cent on Monday 02 Mar 2020

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Mon, 02 Mar 2020 06:05:00 +0000

Gold rose more than 1 per cent on Monday, recouping losses from a steep slide in the previous session, amid the fast-spreading coronavirus and hopes for a rate cut by the US Fed.

Spot gold gained 0.9 per cent to $1,599.15 per ounce as of 0401 GMT, having risen over 1 per cent earlier in the session. US gold futures rose 2.2 per cent to $1,601.20.

Gold plunged over 4.5 per cent on Friday, with precious metals joining a broader market selloff as investors liquidated positions to meet margin calls in other assets.

"On Friday, the US Federal Reserve board hinted they're going to be dropping interest rates and that's a great thing for gold right off the bat," said Stephen Innes, chief market strategist at financial services firm AxiCorp.

Fed Chair Jerome Powell said that while the US economy remained strong, the corona virus "posed an evolving risk" and the central bank stood ready to take action if needed.

Lower interest rates reduce the opportunity cost of holding non-yielding bullion.

Gold rose more than 1 per cent on Monday, recouping losses from a steep slide in the previous session, amid the fast-spreading coronavirus and hopes for a rate cut by the US Fed.

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Commodity Market News Updates : Gold, Silver

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Fri, 28 Feb 2020 04:52:00 +0000

Gold prices witnessed healthy gains in the domestic futures trade on February 28 as investors continued buying safe-haven assets avoiding riskier equities amid rising fears of coronavirus becoming a pandemic.

In the global markets, too, gold prices remained elevated as worries intensified that the rapidly spreading coronavirus could turn into a pandemic and derail global economic growth, media reports said.

Spot gold gained 0.2 percent to $1,645.79 per ounce and was up about 0.1 percent for the week.

On the Multi Commodity Exchange (MCX), April gold contracts were trading higher by Rs 229, or 0.54 percent, at Rs 42,614 per 10 gram at 0930 hours.

The Silver market has broken above the top of the Bollinger Band indicator, showing that we are well above two standard deviations of the norm.

That normally means that we are about to see a pullback. Ultimately, I do like buying pullbacks, but I also have to admit that a break above the $19.00 level would be extraordinarily bullish.

I’m bullish, but I also need to find a good entry price below and 47,900 looks good enough levels for buying.

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Agri Commodity Market -Coriander | Gaur Gum| Cottonseed oil - 25 FEB 2020

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Tue, 25 Feb 2020 09:54:00 +0000

Coriander
Coriander prices on Tuesday fell by Rs 161 to Rs 5,880 per quintal in futures trade as speculators trimmed their positions tracking weak demand at the spot market.

On the National Commodity and Derivatives Exchange, coriander contracts for April eased by Rs 161, or 2.67 per cent, to Rs 5,880 per quintal in 7,100 lots.

Guar gum
Guar gum prices on Tuesday eased by Rs 2 to Rs 6,366 per five quintal in futures market as traders trimmed their holdings in line with weak trend at the spot market.

Cottonseed oil
Cottonseed oil cake prices on Tuesday traded up by Rs 21 to Rs 1,631 per quintal in futures trade as speculators created fresh positions driven by firm spot demand.

On the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in March traded higher by Rs 21, or 1.30 per cent, to Rs 1,631 per quintal with an open interest of 89,630 lots.

Coriander prices on Tuesday fell by Rs 161 to Rs 5,880 per quintal in futures trade as speculators trimmed their positions tracking weak demand at the spot market.

On the National Commodity and Derivatives Exchange, coriander contracts for April eased by Rs 161, or 2.67 per cent, to Rs 5,880 per quintal in 7,100 lots.

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Commodity Market News- Gold Crude Oil Updates - 24 FEB 2020

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Mon, 24 Feb 2020 08:12:00 +0000

Gold prices on Monday jumped Rs 401 to Rs 43,067 per 10 gram in futures trade as speculators increased their bets tracking positive trend overseas.

On the Multi Commodity Exchange, gold contracts for April traded higher by Rs 401, or 0.94 per cent, to Rs 43,067 per 10 gram in a business turnover of 2,117 lots.

The yellow metal for June delivery edged up by Rs 406, or 0.95 per cent, to Rs 43,269 per 10 gram in a business turnover of 125 lots.

Crude oil prices declined as global investors and traders weighed the effects of spreading coronavirus, which has dampened demand for oil from China, world's second top consumer. As per Bloomberg estimates, China's crude oil demand is expected to fall by nearly 3 million barrels per day (mbpd), which is nearly 20 per cent lower from the current requirement of 15 mbpd. This fall prompted the OPEC to call an emergency meeting to decide on further cuts from its 2.1 mbpd output, which comprised of 1.7 mbpd cut by OPEC+ and a voluntary cut of 0.4 mbpd by Saudi Arabia.

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Shanghai copper spot market KuaiBao: market activity increased significantly,

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Thu, 19 Sep 2019 04:31:00 +0000

Shanghai electrolytic copper spot contract today rose 240 ~ 280 yuan / ton, Pingshui copper transaction price 47410 yuan / ton ~ 47490 yuan / ton, Shengshui copper transaction price 47430 yuan / ton ~ 47510 yuan / ton. Shanghai copper pressure dropped to 47200 yuan / ton, the morning market inquiry is active, the early opening of the market has a rising water 220-230 yuan / ton flat copper, traders buy actively, following yesterday's trading circle received goods, the morning market set off another wave of receiving tide, the rising water directly pushed up to 240 ~ 260 yuan / ton, and continued to climb more than, after 10:00, the quotation has been frantically raised to 260 yuan / ton to 280 yuan / ton. Some businesses have even directly targeted the rising water 300 yuan / ton, close to the end of the afternoon market, the crazy degree of the market gradually cooled, the rising water temporarily stabilized, some businesses showed the willingness to exchange cash, Pingshui copper rising water to maintain stability at 250 yuan / ton quotation, good copper rising water is also stable at 270 yuan 280 yuan / ton. Today, traders are still the market receiving leaders, the proportion of downstream follow bargain replenishment has increased, but the continued upsurge in trade buying enthusiasm has been restrained in the high level, but the quotation is strong, it is difficult to depress the price, the sustainability of pre-festival stock was basically confirmed by the market at the beginning of the week. Today, market holders have the initiative to quote, rising water is difficult to fall.

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Silver futures slip Rs 334 per kg on weak global cues

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Wed, 18 Sep 2019 07:27:00 +0000

Shanghai electrolytic copper spot contract today rose 160 ~ 210 yuan / ton, Pingshui copper transaction price 47440 yuan / ton ~ 47550 yuan / ton, Shengshui copper transaction price 47470 yuan / ton ~ 47570 yuan / ton. Shanghai copper continued to concussion pattern, hovering in 47300 yuan / ton line. Holders have a strong willingness to raise prices, the morning market quotation rose 160 yuan 190 yuan / ton, traders inquire actively, rising water 160 yuan 170 yuan / ton of flat water copper and 190 yuan / ton of good copper supply by traders quickly into the receipt. Around 10: 00, under the guidance of some traders to buy more, transaction activity increased significantly, another round of receipt led to a rapid rise in water quotation, Pingshui copper rose to 190 yuan / ton, good copper quotation 200 ~ 210 yuan / ton range, but the transaction slowed down. Today, the enthusiasm of some of the downstream pre-festival replenishment is slightly higher than before, wet copper supply is difficult to find, tight prices are high, raising to 120 ~ 140 yuan / ton. There are still long single delivery before the National Day holiday, the market is still willing to replenish, the overall market is facing a variety of consumption expectations, and inventory increment is limited, traders are the first to lead the receiving boom, this week the quotation is strong and high trend is difficult to change.

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Gold Prices Jump Amid Middle East Tensions; Investors Eye Central Banks Meetings

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Mon, 16 Sep 2019 05:07:00 +0000

Gold Prices jumped on Monday in Asia after a strike against two Saudi Arabian oil facilities heightened tensions in the Middle East and boosted safe-haven demand.

Gold Futures for delivery on the Comex exchange gained 0.8% to $1,510.95a troy ounce by 12:38 AM ET (04:38 GMT).

An attack on Saudi Arabia’s oil facilities on Saturday knocked out more than 5% of global oil supply, intensifying tensions in the Middle East and sent oil prices surging as much as 20%.

U.S. President Donald Trump said on Sunday the U.S. was “locked and loaded” for a potential response to the attack while Secretary of State Mike Pompeo said in a tweet that Iran has launched an “unprecedented attack on the world’s energy supply.”

Looking ahead, critical policy decisions from central banks this week including the Federal Reserve are expected to dictate movement of the yellow metal.

The U.S. Federal Reserve is widely expected to lower interest rates again at the conclusion of its two day policy meeting on Wednesday. Thursday will bring policy meetings in Japan, the U.K., Norway and Switzerland.

Sino-U.S. trade developments also remained under the spotlight as junior U.S. and Chinese officials will reportedly meet this week ahead of planned talks between senior trade negotiators in October.

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Gold prices extend fall today, down ₹2,200 from highs; silver rates drop again

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Fri, 13 Sep 2019 04:35:00 +0000

Gold and silver prices today fell further in India, extending their recent decline. Subdued global prices and an appreciation in rupee's value against the US dollar put pressure on domestic gold and silver prices. On MCX, October gold futures prices today traded 0.20% lower at around ₹37,650 per 10 gram, down ₹2,200 from last week's highs of ₹39,885. Silver has suffered more losses. Silver futures on MCX today fell 0.2% to ₹47,047 per kg. Silver prices are now down about 8% from last week's high of ₹51,489.
In global markets, gold prices remained subdued at $1,499 an ounce while silver fell to to $18.08 per ounce. A broad improvement in risk appetite, which has pushed global equity markets higher, has put pressure on gold prices. Globally, gold prices are down about over 4% from $1,550 levels earlier this month. Global stock markets have rallied in recent days after gestures by US and China have stoked cautious optimism among investors that the next round of trade talks in October between Washington and Beijing may lead to some progress.
"ETF investors have moved to sidelines awaiting fresh cues. Gold may trade sideways amid firmness in equity market," Kotak Securities said in a Thursday note.

Silver has turned choppy after recent sell-off but has managed to hold near $18/oz level. Silver ETF investors also moved to sidelines after brief outflows," Kotak Securities said.
The rupee has also strengthened to one-month high of 70.96 levels against US dollar, putting further pressure on domestic gold prices. A higher rupee makes imports of dollar-denominated gold cheaper.
The US earlier this week agreed to delay another round of tariffs on Chinese imports by two weeks to October 15 while China has dropped additional tariffs imposed on some items of imports from the US.

US President Donald Trump on Thursday said he may consider an interim trade deal with Beijing.
Also boosting global equity markets, the European Central Bank (ECB) delivered a bigger-than-expected stimulus by cutting interest rates and restarting bond purchases.

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Gold production growth in the two major gold producers @The Grs solution

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Thu, 12 Sep 2019 08:43:00 +0000

SMM: with gold prices soaring, gold production in Victoria, Australia, has risen again and has climbed to its highest level since 1914. Australia has 9800 tons of gold reserves, the largest in the world, according to data released by the United States Geological Survey. At current production, Australia has enough gold reserves to support 31 years of production.

According to data released at the end of August by Surbiton Associates, an Australian gold mining consultancy, gold production reached a record 321 tons, or 10.3 million ounces, in fiscal year 2018. That compares with 310 tons in the same period last year. Between April and June, gold miners produced 82 tonnes of gold, the highest quarterly production in the past 20 years, according to the company.

Among the top three gold producers in the world, with the exception of China, gold production is growing in Russia and Australia. In the first half of 2019, China's raw material gold production was 180.68 tons, down 9.60 tons from the same period in 2018, down 5.05% from the same period last year, while Russian gold production increased by 11% to 142.2 tons in the first half of 2019 compared with the same period last year.

Rick Rieder, chief investment officer at BlackRock (Blackrock), said investors should still put some gold in their portfolios; central banks around the world are indifferent to the inflation target of below 2 per cent, and to achieve that target, central banks need to act more aggressively, meaning bond yields are below zero.

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Gold inches higher as focus turns towards the ECB

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Wed, 11 Sep 2019 07:11:00 +0000

Gold prices edged higher on Wednesday, snapping a four-day losing streak on technical buying, while investors awaited European Central Bank’s (ECB) meeting where it is widely expected to cut interest rates.

Spot gold was up 0.3% at $1,490.09/oz, as of 4.14am GMT. In the previous session, prices fell to their lowest since August 13 at $1,483.90. US gold futures were little changed at $1,498.8/oz.

“The ECB is expected to reduce further the interest rate into negative territory ... The meeting could serve as a potential catalyst [for gold] and investors are already buying into the rate cut expectations,” said Margaret Yang Yan, a market analyst at CMC Markets.

Given that gold has had such a deep correction from its recent peak, investors are buying on dips, Yan added.

Bullion prices have shed more than 4%, or over $60, in less than a week, mainly hurt by a broad uptick in risk appetite.

ECB policymakers are leaning towards a package that includes a rate cut, a pledge to keep rates low for longer and compensation for banks over the side-effects of negative rates, five sources familiar with the discussion said last week.

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Commodity news @The GRS SOLUTION

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Mon, 09 Sep 2019 08:51:00 +0000

Bullion: Gold prices edged higher as expectations of monetary policy easing by major central banks gathered momentum amid soft economic data, although an uptick in equities limited gains.

Bullion counter may trade sideways with a weak bias. Gold (Oct) can dip lower towards Rs 38,400 while it may face resistance near Rs 38,800. Silver (Dec) can dip towards Rs 47,200 and faces resistance near Rs 48,000.

Base Metals: Base metals are likely to dip lower on profit booking. Copper may test Rs 448 with resistance seen near Rs 456. While zinc can rise towards Rs 189, it may take support near Rs 185. Lead may trade sideways, testing Rs 157 with support seen near Rs 152. Nickel may dip lower towards Rs 1,220 while it may face resistance near Rs 1,260. Aluminum may test Rs 138 with resistance seen near Rs 142.

Energy: Oil prices rose on Monday after a Saudi official said there would be no change in Saudi Arabia's Opec policy as Prince Abdulaziz bin Salman was made the new energy minister for the world's biggest crude exporter over the weekend.

Crude oil may trade sideways, taking support near Rs 4,080 and facing resistance near Rs 4,150. Natural gas can move higher, testing Rs 183 with supports for the commodity seen near Rs 177.

Spices: Turmeric futures (Oct) may witness sell-on-rise. The resistance for turmeric is seen near Rs 6,815. Jeera futures (Oct) are expected to trade sideways in the range of Rs 16,900-17,270. Dhaniya futures (Oct) will probably take support near Rs 6,135 and may witness an upside towards Rs 6,200. Cardamom futures (Oct) may see a recovery till Rs 2,800-2,850, taking support near Rs 2,530.

Oilseeds: Soybean futures (Oct) may trade with a downside bias & test Rs 3,460, facing resistance near Rs 3,580. On the CBOT, US soybean futures (Nov) may continue to consolidate for the fourth consecutive week in the range of $8.5-8.85 a bushel. Soy oil futures (Oct) are expected to see more downside near Rs 745, while CPO futures (Sept) may plunge towards Rs 550-545.

Other Commodities: Cotton futures (Oct) are expected to consolidate in the broader range of Rs 19,380-19,475. US Cotton is also likely to trade sideways in the range of 57-60 cents per pound. Chana futures (Oct) will probably face resistance near Rs 4,060 & witness selling pressure with short covering. The outlook of castor seed futures (Oct) is bullish towards Rs 5,850-5,900, on the back of a smaller crop from last year and the fact that the arrival of the new crop is at least six months away -- leading to a vacuum in supply pipeline.

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Gold scales over six-year peak on heightened trade, economic risks

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Tue, 27 Aug 2019 04:28:00 +0000

Gold surged to a more than the six-year peak on Monday, surpassing $1,550 in early trade, as investors sought safety from a host of uncertainties including heightened U.S.-China trade tensions and a fragile global economy.

Spot gold rose 0.3% to $1,529.90 per ounce as of 02:30 pm EDT (1830 GMT), paring gains to shed more than $20 from earlier in the session when the metal had jumped to its highest level since April 2013 at $1,554.56.

U.S. gold futures settled nearly unchanged at $1,537.20 per ounce.

Meanwhile, gold in euro and Australian dollar hit record levels.

"There's a great deal of uncertainty and instability in the global financial markets and economies. And in that kind of environment, investors are bouncing around so they are buying into gold and buying out of gold," said Jeffrey Christian, managing partner of CPM Group.

Washington announced last week an additional 5% duty on $550 billion in targeted Chinese goods, hours after China unveiled retaliatory tariffs on $75 billion worth of U.S. products. Typically, gold is used as a place to park assets during times of global uncertainty.

The long-drawn-out trade war between the world's two largest economies has roiled markets since it began more than a year ago, triggering fears of a global slowdown.

Stock markets, however, recovered from lows after U.S. President Donald Trump, speaking on the sidelines of the G7 summit of world leaders in France, said Chinese officials had contacted U.S. trade counterparts overnight and offered to return to the negotiating table.

"Gold prices could fall $100 very quickly if there were a resolution not only to the trade war but to other problems that are out there," Christian said.

Data showed a modest rise in new orders for key U.S.-made capital goods in July while shipments fell by the most in nearly three years, pointing to continued weakness in business investment in the third quarter.

While monetary policy easing by central banks would be supportive for gold, "the single biggest risk to the recent gold rally would be central bank success, potentially aided by a fiscal stimulus or a détente in the trade dispute," a BofA Merrill Lynch Global Research note stated.

"Central Bank policy working out may in all likelihood provide a relatively more benign volatility environment, which in turn would challenge the current gold bull run."

Federal Reserve Chair Jerome Powell said on Friday the U.S. central bank will "act as appropriate" to keep the economy healthy.

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'BUY' or 'SELL' ideas from experts for Monday 26 August 2019

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Mon, 26 Aug 2019 06:48:00 +0000

The domestic equity market is likely to open higher on Monday tracking Nifty Futures Tips on the Singapore Stock Exchange (SGX Nifty) and mixed Asian cues.

The SGX Nifty was 68 points or 0.63 % higher at 10,897.50.

various experts and here's what they have to recommend for today's trade.

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After manic Friday, gold may cross all-time high

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Mon, 26 Aug 2019 04:05:00 +0000

Experts are seeing fresh support for gold prices leading it towards all-time highs in the international markets, even as an escalation of the trade-war between the two largest economies, US and China, saw the price of the yellow metal rally 700-800 points last week.

Gold rose over 2 per cent to a six-year high of $1,537 on the Comex in New York on Friday.

Kotak Commodities head Ravindra Rao says he won't be surprised if spot gold prices shoot past the $1,950 per troy ounce level to log fresh all-time highs.

"Gold prices are indicating that the global worries are still intact. This worry has started since last 2-3 years, now that is escalating. If we compare gold with S&P and gold with bond yield, still the ratio is very low, so gold has a lot of steam left to go much higher," Rao said.

He emphasized that gold's next bull cycle is underway which might see other asset classes, mainly equities, get suppressed.

Indian markets have already seen several highs since the US Federal Reserve announced a cut in policy rate earlier in the month.

Gold futures prices on the MCX gained sharply on Friday to touch record levels of Rs 38,821 per 10 gram.

"In a month or so we can see gold per 10 grams soar to Rs 40,000-41,000 but if the rupee does not support then it might not," Rao said.

Gold prices are also gaining owing to the weakness of the rupee.

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Gold set for worst week in about five months; Powell`s speech in focus

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Sat, 24 Aug 2019 06:07:00 +0000

Gold eased on Friday and was set for its worst week in nearly five months, as lack of clarity from U.S. Federal Reserve on the outlook for interest rate cuts triggered investors to cash in some gains ahead of Jerome Powell's speech at Jackson Hole.

Spot gold was down 0.3% to $1,494.60 per ounce as of 0400 GMT.

The metal has lost nearly 1.3% so far this week, on track for its biggest weekly percentage decline since March 29.

U.S. gold futures slipped 0.3% at $1,504.20 an ounce.

The market is closely watching Fed Chairman Powell's speech at the Jackson Hole seminar due later in the day (1400 GMT) for clarity on monetary policy after minutes of the U.S. central bank's July meeting tempered hopes of aggressive rate cuts.

"There is no clear direction on what the Fed is doing, so people are on the sidelines until they hear concrete answers," said Brian Lan, managing director at dealer GoldSilver Central in Singapore.

"Some people are taking out profits off the table," he added.

Underscoring divisions within the Fed, two central bank officials said on Thursday the U.S. economy does not need more stimulus at this point while another said he was "open-minded."

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Rupee slide pushes India rice rates to 7-week low, Vietnamese exports dip

noreply@blogger.com (The GRS Solution | Best Stock Trading Services Provider) — Fri, 23 Aug 2019 03:55:00 +0000

A depreciating rupee pushed export prices of rice from India to their lowest in seven weeks on Thursday despite healthy demand from African countries, while lower purchases from the Philippines weighed on rates for the Vietnamese grain.

Top exporter India's 5 percent broken parboiled variety was quoted around $372-$375 per tonne this week, down from $374-$377 a week ago.

"A falling rupee has been allowing us to lower export prices. Demand has also been improving," said an exporter based at Kakinada in the southern state of Andhra Pradesh.

The Indian rupee on Thursday fell to its lowest in over eight months, raising exporters' margins.

Farmers have planted rice on 30.14 million hectares as of Aug. 16, against 33.84 million hectares at the same time last year, government data showed.

India's rice exports in April-June dived 28.2% from a year ago to 2.35 million tonnes. In Vietnam, rates for 5% broken rice eased to $335-$340 a tonne from $335-$345 last week on weak demand.

Buyers from the Philippines have reduced their purchases from Vietnam while awaiting a possible curb on rice imports to support local farmers, a Ho Chi Minh City-based trader said.

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