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Commodity Market important Updates for 12 July 2017

Commodity Market important Updates for 12 July 2017

Gold futures closed higher in the domestic market on Tuesday getting a boost from political uncertainty in the U.S., as investors awaited Federal Reserve Janet Yellen’s testimony to Congress this week for cues on the timing of expected interest-rate hikes. Prices for the yellow metal gave up earlier losses as the dollar weakened and U.S. equities fell in the immediate wake of Donald Trump Jr.’s release of emails linked to a meeting with a Russian lawyer last year. Rising real interest rates lower the opportunity costs of holding gold because the metal provides no yield, and entices investors torotate into riskier assets like stocks. Higher rates may also boost the value of the dollar, which usually moves in the opposite direction of the gold price. Silver futures closed high in the domestic market on Tuesday as participants engaged in extending their positions taking strong cues from global market. Marketmen attributed the rise in silver prices at futures trade to a strong trend in the precious metals overseas. Crude oil futures closed high in the domestic market on Tuesday as a low 2018 forecast on U.S. crude production and speculation of possible output curbs in Libya and Nigeria fueled the strongest session gain for prices in over a week. Expectations for a second-consecutive weekly decline in U.S. crude supplies also provided support. Traders and analysts were also looking ahead to monthly oil reports from OPEC and the International Energy Agency. Mentha oil futures were trading lower during the morning trade in the domestic market on Wednesday as investors and speculators cut down their positions in the agri-commodity amid muted physical...
Commodity Market important Updates for 11 July 2017

Commodity Market important Updates for 11 July 2017

Gold trading range for the day is 27522-27956.Gold prices edged up after nearing technical support and as traders awaited signals from central banks on interest rate hikes. Pressure continues from Friday after upbeat monthly data on U.S. jobs supported expectations for at least one more rate hike from the Federal Reserve this year. The U.S. economy continues to churn out jobs and grow at a steady pace, with investment and consumer confidence both healthy and only moderate signs of risk in financial markets. Silver trading range for the day is 35063-37337.Silver gains as prices recovered on short covering as investors looked ahead to testimony from Fed chair Janet Yellen later this week on the health of the economy. The rapid pace of jobs growth reassured investors that the economy is on a strong enough footing to justify the Feds plans to raise interest rates once more this year. Investors will also keep an eye out on a few U.S. economic reports, with Fridays inflation data in the spotlight, for further clues on the timing of the next Fed rate hike. Crudeoil trading range for the day is 2793-2935.Crude oil recovered on short covering but sentiment remained negative as fears grew that rising output from US, Nigeria and Libya would continue to weigh. OPEC is expected to insist Libya and Nigeria take part in the cartels supply quota plan. U.S. energy firms added seven oil drilling rigs last week, marking a 24th week of increases out of the last 25 and bringing the total count up to 763. Naturalgas trading range for the day is 183.8-193.2.Naturalgas settled up 2.27% at...
Commodity Market important Updates for 05 June 2017

Commodity Market important Updates for 05 June 2017

Jeera trading range for the day is 17385-17995.Jeera prices ended with losses as the muted export demand is keeping the prices under pressure as supplies are good.As per data, about 10,688 tonnes of jeera arrived in May 2017 compared to 14,302 May last year. NCDEX accredited warehouses jeera stocks dropped by 78 tonnes to 1203 tonnes. In Unjha, a key spot market in Gujarat, jeera edged down by -6.85 Rupees to end at 18139.3 Rupees per 100 kg. Turmeric trading range for the day is 5238-5490.Turmeric prices ended with losses tracking weak demand from exporters. Better crop prospects in view of normal monsoon rains may continue to put pressure on prices. NCDEX accredited warehouses turmeric stocks gained by 114 tonnes to 6797 tonnes.In Nizamabad, a major spot market in AP, the price ended at 5465.65 Rupees gained 35.65 Rupees. Soyabean trading range for the day is 2676-2828.Soyabean ended with losses amid supplies from domestic as well as overseas markets and good progress of new season crop. Total arrivals in Madhya Pradesh were at 10,000-20,000 bags, in Maharashtra inventories stood at 70,000-80,000 bags. NCDEX accredited warehouses soyabean stocks dropped by 448 tonnes to 99686 tonnes.At the Indore spot market in top producer MP, soybean gained 7 Rupees to 2885 Rupees per 100 kgs. Menthaoil trading range for the day is 905.3-948.1.Mentha oil spot at Sambhal closed at 1049.00 per 1kg. Spot prices was down by Rs.-11.30-.Mentha oil ended with losses amid muted demand in the domestic spot market. Further, ample stocks position on high supplies from producing belts of Chandausi in Uttar Pradesh, too weighed. Stock positions of Mentha in...
Commodity Market important Updates for 17 May 2017

Commodity Market important Updates for 17 May 2017

Jeera trading range for the day is 17660-18420.Jeera prices gained trackinng firmness in spot demand on lower arrivals from the producing regions.Sources estimate Indias jeera crop output will be around 2.5 lakh tonnes, lower than the 3.75 to 5 lakh-tonne estimated.NCDEX accredited warehouses jeera stocks gained by 297 tonnes to 2473 tonnes.In Unjha, a key spot market in Gujarat, jeera edged up by 3.1 Rupees to end at 18423.1 Rupees per 100 kg. Turmeric trading range for the day is 5526-5810.Turmeic prices dropped tracking weakness in spot demand as demand was lower from industrial buyers.Andhra Pradesh government projected 2016-17 turmeric crop at 155,000 ton up from 121,000 ton in the previous year.NCDEX accredited warehouses turmeric stocks gained by 239 tonnes to 5625 tonnes.In Nizamabad, a major spot market in AP, the price ended at 5566.65 Rupees gained 6.65 Rupees. Soyabean trading range for the day is 2733-2931.Soyabean prices ended with losses on account of lower demand and arrivals in local mandis spurted as marginal.Arrivals in the local mandis also rose as farmers are offloading to prepare for next sowing.NCDEX accredited warehouses soyabean stocks dropped by 842 tonnes to 127274 tonnes.At the Indore spot market in top producer MP, soybean dropped -45 Rupees to 2996 Rupees per 100 kgs. Menthaoil trading range for the day is 940.8-966.8.Mentha oil spot at Sambhal closed at 1072.00 per 1kg. Spot prices was up by Rs.3.20-.Mentha oil dropped amid reports that carryover stocks are huge against the current consumption level.As per sources, local demand is moderate from both the local industries as well as stockists.Stock positions of Mentha in MCX accredited warehouses were around...

Commodity Market important Updates for 12 May 2017

Jeera trading range for the day is 18195-18955.Jeera prices ended with gains tracking firmness in spot demand amid expectations good export demand. However, supplies are expected to improve in the major physical market on strong selling pressure from farmers limiting the gains.NCDEX accredited warehouses jeera stocks gained by 15 tonnes to 2458 tonnes.In Unjha, a key spot market in Gujarat, jeera edged down by -135.9 Rupees to end at 18533.35 Rupees per 100 kg. Turmeric trading range for the day is 5564-5732.Turmeric prices gained amid expectations of fresh buying from lower price levels. Market focus may gradually shift towards monsoon in 2017 and sowing acreage under turmeric.NCDEX accredited warehouses turmeric stocks gained by 164 tonnes to 5284 tonnes.In Nizamabad, a major spot market in AP, the price ended at 5497.05 Rupees gained 47.05 Rupees. Soyabean trading range for the day is 2908-2958.Soyabean prices ended with gains as spot prices improved on good meal exports data.According the latest forecast by IMD, India may receive higher monsoon than previous forecast in April.NCDEX accredited warehouses soyabean stocks dropped by 1813 tonnes to 134148 tonnes.At the Indore spot market in top producer MP, soybean gained 3 Rupees to 3077 Rupees per 100 kgs. Menthaoil trading range for the day is 905.4-946.6.Mentha oil spot at Sambhal closed at 1049.00 per 1kg. Spot prices was down by Rs.-7.30-.Mentha oil prices gained amid surge in demand in the domestic spot market.Further, tight stocks position on restricted supplies from producing regions, too supported mentha oil prices.Stock positions of Mentha in MCX accredited warehouses were around 4727 drums, while in process were 24 drums. Aluminium trading range for...
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