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Commodity Market important Updates for 14 July 2017

Commodity Market important Updates for 14 July 2017

Gold futures closed lower in the domestic market on Thursday with the dollar gaining ground against most currency rivals and U.S. equities trading mostly higher after Federal Reserve Chairwoman Janet Yellen offered a second day of congressional testimony on monetary policy. Gold prices have been posting gains since a solid U.S. jobs report issued late last week, which backed the argument for higher interest rates although likely not at a more aggressive pace than the go-slow approach the Fed has signaled. Still, the prospect for gold-negative interest-rate hikes had sent the yellow metal to their lowest level in about four months last week. Rising real interest rates low the attractiveness of holding gold because the metal provides no yield, and entices investors to rotate 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. Gold futures for Aug 2017 contract ended at Rs 27845 per 10 grams, down by 0.02 %, after opening at Rs 27,950 against a previous close of Rs 27,851. It touched the intra-day lower of Rs 27,812. Silver futures closed low in the domestic market today as participants engaged in trimming their positions taking weak cues from global market. Marketmen attributed the fall in silver prices at futures trade to a weak trend in the precious metals overseas and profit-booking by participants at existing levels. White metal futures for Sept 2017 contract closed at Rs 36,571 per kg, downward by 1.07 %, after opening at Rs 37,055, against a previous close of Rs 36,968. It touched the intra-day lower...
Commodity Important Updates for 25 Nov 2016

Commodity Important Updates for 25 Nov 2016

Aluminium trading range for the day is 119.7-123.1.Aluminium prices dropped as pressure seen due to profit booking after LME stocks rose. In news, China exported 350,000 tonnes of aluminium in October, up 6.6 percent on year, customs data showed.WBMS indicates that global primary aluminum market has recorded a marginal deficit during the initial nine months of the year. Naturalgas trading range for the day is 205.1-211.5.Naturalgas dropped on profit booking in light trading day after prices gained Wednesday as storage data showed an unexpected decline in inventories.Prices also saw pressure as warmer-than-average weather has persisted in the U.S.Natural gas prices are dependent on weather forecasts because half of U.S. homes use natural gas for heat. Jeera trading range for the day is 17890-18780.Jeera prices ended with gains due to expectation of tight supplies from the producing regions. In Gujarat, Jeera sowing completed in around 99,100 hectares as compared to last year acreage of 17,400 hectares.NCDEX accredited warehouses jeera stocks dropped by 30 tonnes to 189 tonnes.In Unjha, a key spot market in Gujarat, jeera edged up by 393.75 rupees to end at 18612.5 rupee per 100 kg. Turmeric trading range for the day is 7190-7366.Turmeric prices gained due to good demand and lower supplies in the physical market surge in spot market.Though, some gains were capped on heavy arrivals as the turmeric crop in Maharashtra and Andhra Pradesh are in good condition.NCDEX accredited warehouses turmeric stocks dropped by 20 tonnes to 2469 tonnes.In Nizamabad, a major spot market in AP, the price ended at 7622.5 rupees gained 10 rupees. Soyabean trading range for the day is 3052-3184.Soyabean prices ended...
Commodity Important Updates for 24 Nov 2016

Commodity Important Updates for 24 Nov 2016

Aluminium trading range for the day is 118.4-124.4.Aluminium gained as upbeat manufacturing data from the United States and the euro zone drove a wave of fund buying. Japanese manufacturing activity grew in November at a slightly slower pace than the previous month as growth in new orders eased.Euro zone business activity expanded the most in nearly a year in November on strong manufacturing and buoyant services growth in Germany Naturalgas trading range for the day is 196.6-217.8.Natural gas prices rose to a three-week high after storage data showed an unexpected decline from record-high inventories.The U.S. Energy Information Administrations weekly update on storage levels showed a fall of 2 billion cubic feet in the week ended Nov. 18.The shift from building inventories to the seasons first withdrawal is a positive sign for natural gas. Jeera trading range for the day is 17290-18770.Jeera prices gained on expectation of fresh export enquiries from Bangladesh and China. In Gujarat, Jeera sowing completed in around 99,100 hectares as compared to last year acreage of 17,400 hectares.NCDEX accredited warehouses jeera stocks dropped by 524 tonnes to 219 tonnes.In Unjha, a key spot market in Gujarat, jeera edged down by -18.75 rupees to end at 18200 rupee per 100 kg. Turmeric trading range for the day is 7064-7372.Turmeric prices gained on rising demand from the buyers at the spot market.Turmeric farmers in the Nizamabad may not get expected yields this year due to the heavy rains in the last week of September.NCDEX accredited warehouses turmeric stocks dropped by 10 tonnes to 2489 tonnes.In Nizamabad, a major spot market in AP, the price ended at 7640 rupees...
Commodity Important Updates for 23 Nov 2016

Commodity Important Updates for 23 Nov 2016

Aluminium trading range for the day is 117.1-121.7.Aluminium gained tracking LME prices ended ending up by 2.2 percent at $1,760 due to tighter supply.Chinese buyers are paying the sharpest premium in years for near-term Shanghai aluminum futures.Aluminum daily stocks at Shanghai exchange came down by 451 tonnes. Naturalgas trading range for the day is 196.3-209.9.Natural gas prices closed at a three-week high as forecasts for more-normal temperatures in the coming weeks boosted the outlook for demand.Forecasts for cooler temperatures have helped boost natural gas prices, after weeks of warmer-than-average weather have weighed on demand.Recently prices were under pressure from warmer-than-average temperatures this month, as well as a record level of supply in storage. Jeera trading range for the day is 17335-18255.Jeera prices dropped on late profit booking after prices gained due to good buying support from retailers and stockists at the spot market.Moreover, the stock positions with the exchange and stockists are also diminishing.NCDEX accredited warehouses jeera stocks dropped by 186 tonnes to 743 tonnes.In Unjha, a key spot market in Gujarat, jeera remains unchanged at0 rupees to end at 18218.75 rupee per 100 kg. Turmeric trading range for the day is 7060-7416.Turmeric prices dropped on late profit booking after prices gained due to good demand and lower level buying by the market participants.Currently the supplies are for medium and poor quality during the rest of the season till new crop arrived.NCDEX accredited warehouses turmeric stocks dropped by 5 tonnes to 2499 tonnes.In Nizamabad, a major spot market in AP, the price ended at 7612.5 rupees gained 20.85 rupees. Soyabean trading range for the day is 3063-3127.Soyabean gained supported...
Commodity Important Updates for 22 Nov 2016

Commodity Important Updates for 22 Nov 2016

Aluminium trading range for the day is 115.3-118.7.Aluminium gained reflecting a lack of immediately available supply.Prices also rose due partly to rising prices of coal, a key input material, and after new Chinese regulations over truck loads disrupted transit.Aluminium stocks at three major Japanese ports stood at 278,200 tonnes at the end of October, down 2.9 percent from the previous month. Naturalgas trading range for the day is 191.3-207.1.Natural gas price rose as colder weather boosted optimism over demand for heating consumption.Recently prices were under pressure from warmer-than-average temperatures this month, as well as a record level of supply in storage.However, the approach of the winter season and colder temperatures has given prices a boost, as investors bet that heating demand will pick up. Jeera trading range for the day is 17120-18320.Jeera prices gained on hopes of good export buying in the coming months.Prices also gained due to reports of robust demand from overseas buyers amid fall in output of other exporting nations Syria and Turkey.NCDEX accredited warehouses jeera stocks dropped by 57 tonnes to 929 tonnes.In Unjha, a key spot market in Gujarat, jeera remains unchanged at0 rupees to end at 18218.75 rupee per 100 kg. Turmeric trading range for the day is 6930-7450.Turmeric prices gained on expectations of rise in demand due to tigh supply position.A likely rise in output with acreage increasing in major producing regions Andhra Pradesh, Tamil Nadu, Telangana and Maharashtra limited the upside.NCDEX accredited warehouses turmeric stocks dropped by 145 tonnes to 2504 tonnes.In Nizamabad, a major spot market in AP, the price ended at 7591.65 rupees gained 62.7 rupees. Soyabean trading range...
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