SEBI Registration NO.---- INA000001530 Investment in stock and commodity market are subject to market risk. Please do not trade on those tips which are not provided through SMS or messenger.

Commodity Market important Updates for 16 May 2017

Gold futures closed flat in the domestic market on Monday as gold reversed losses on the back of rising tensions over North Korea.Some geopolitical concerns have given a positive hand to the metal: a successful missile test in North Korea and cyber-attacks around the world.

Silver futures closed higher in the domestic market on Monday tracking a firming trend in precious metals overseas as speculators widened their positions. Market analysts said speculative position built up by participants, driven by firm global trend, mainly contributed to the rise in silver prices at futures trade.

Crude oil futures closed higher in the domestic market on Monday after energy ministers from Saudi Arabia and Russia released a joint statement backing a nine-month extension of OPEC-led production cuts.Late last year, OPEC and a handful of non-cartel producers, including Russia, agreed to reduce collective daily output by 1.8 million barrels. The latest OPEC production data indicated that stockpiles remain elevated, even as participants have complied with the output quotas.

Cardamom futures were trading lower during morning trade in the domestic market on Tuesday as investors and speculators remained on the sidelines in the agri-commodity amid fall in physical demand for cardamom in the domestic spot market. Further, sufficient supplies on higher physical arrivals from the major cardamom producing regions, influenced the downward trend in the domestic cardamom prices.

Mentha oil futures were trading lower during morning trade in the domestic market on Tuesday as investors and speculators exited their positions in the agri-commodity amid muted physical demand for mentha oil from major consuming industries in the domestic spot market.Further, trimming of positions by traders in the spot market was due to a fall in physical demand for mentha oil from consuming industries at the domestic spot market against sufficient stocks position on higher supplies from producing regions, influenced mentha oil prices at futures trade.

Aluminium futures were little changed during morning trade in the domestic market on Tuesday as investors and speculators remained on the sidelines in the industrial metal amid muted physical demand for aluminium at the domestic spot market.Further, a fall in physical demand for aluminium at the domestic spot market was due to trimming of positions by traders in the spot markets, influenced aluminium prices at futures trade.

2
 
error: Content is protected !!