Mcx Energy Updates : Crude Oil Trend Bearish Today

The Indian commodity Market crude oil trend Berish today Crude Oil closed marginally lower during the trading session on Friday. It is interesting to witness the moves in crude oil Down on Saturday, as markets are opened due to union budget.The prices settled at Rs 3034 per barrel against Rs 3055 per barrel a day before. Crude Oil tested a high of Rs 3082 and a low of Rs 3016 per barrel. The trading in Crude Oil can see upticks and consolidation with medium term supports at Rs 2980 per barrel. Decline towards Rs 3000 will act as supports in Crude Oil. Volumes were at 156557 lots on 27 Feb 2015 lots against 166031 on 26 Feb 2015.

Crude Oil Tips Today : Crude can find support near 3006-2912 while key resistance can be seen near 3072-3176 in Intraday Trend  .

Mcx Precious Metal :Gold Set To Snap up 0.2% On Us Policy

The Volume of gold trading in the commodity market is moving up at the day
Spot gold was up 0.2 percent at USD 1,210.60 an ounce by 0042 GMT, having touched a one-week high of USD 1,220 on Thursday. Bullion has gained 0.8 percent for the week

The Mcx Gold trad Down today. Today the bullion Yellow precious Metal trade in Negative Bias in early trade. At 10.36 The mcx Gold  down 47 point  at 26169 and High at 26240 and low at 26160.

Bullion counter Expectations that the Federal Reserve would raise interest rates this year had pulled gold prices lower for most of this month Becaused dollar eased 0.1 percent against a basket of currencies after rising to a one-month high on Thursday.

Mcx Gold Tips Today :
The Mcx Gold trand Berrish  in  bullion commodity market. Gold may find Up resistance around  26343 while supported 26148

Mcx Precious Metal trand Today : Gold rise By 0.4% and Silver rose By 195 toRs 36650 Per Kg

In Indian Commodity market precious metal is in uptrand theMcx Gold prices rose 0.45 per cent to Rs. 26,434 per 10 grams at the futures trade as speculators created fresh positions after the precious metal climbed in global markets

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 0.4 per cent to $1,209.79 an ounce in Singapore.

The Gold support and Resistance level today:

MCX Gold is most likely to find the support level at around 26380 followed by the strong resistance at around 26180/26080

Silver price  rose by Rs 195 to Rs 36,650 per kg in futures trading today
the Multi Commodity Exchange, silver for delivery in March traded higher by Rs 195, or 0.53%, at Rs 36,650 per kg in a business turnover of 455 lots.
he white metal for delivery in May traded higher by Rs 182, or 0.49%, to Rs 37,015 per kg in 55 lots.
 
On COMEX silver has support at $16.00and $16.30whereas resistance is at $16.75and $17.00levels. In domestic market support is 35600and 36250 levels and on higher side 37100 and 37600 could act as resistance

Silver surges by Rs 639 per kg Copper fell by 0.45% in futures trade

Mcx silver climbed Rs 639 to Rs 36,613 per kg in futures trading today open at 36200 and tested high of 36829 level. The Multi Commodity Exchange, silver for delivery in March gained by Rs 639, or 1.78% to Rs 36,613 per kg in business turnover of 2,711 lots.
the white metal for delivery in far-month May contracts traded higher by Rs 544, or 1.49% to Rs 39,968 per kg in 458 lots.
Mcx coppper fell by 0.45% to Rs 364.50 per kg in futures trade today open at 361.50 and tested high 362 level on speculators reducing their positions amidst weak global cues.
At the Multi Commodity Exchange, copper for delivery in far-month April fell by Rs 1.65, or 0.45%, to Rs 364.50 per kg in a business turnover of 751 lots.
Meanwhile, copper for delivery in three months dropped as much as 0.4% to $5,764 per tonne at the London Metal Exchange, while in Shanghai the metal for delivery in April fell 0.4% to 42,050 yuan ($6,718) per tonne.

Mentha oil advanced by 0.44% to Rs 756.20 per kg in futures trading today as speculators enlarged positions amid strong demand from consuming industries in the spot market.
 

At the Multi Commodity Exchange, mentha oil for delivery in February moved up by Rs 3.30, or 0.44%, to Rs 756.20 per kg in a business turnover of 218 lots.

Similarly, the oil for delivery in March gained Rs 3.10, or 0.41%, to Rs 766.30 per kg in 441 lots.

Crude oil and Gold Trade UP By 0.4%

In the commodity market Crude Oil futures rose by 0.42% to Rs 3,109 per barrel today as speculators created fresh positions amid a firm trend in Asia.

At the Multi Commodity Exchange, crude oil for delivery in March gained Rs 13, or 0.42%, to Rs 3,109 per barrel, with a business turnover of 2,908 lots.

The oil for the April delivery moved up by Rs 23, or 0.41%, to Rs 3,222 per barrel, with a business volume of 81 lots.

West Texas Intermediate crude oil for the April delivery advanced by 11 cents at $49.56, while Brent crude for April gained 29 cents to $59.19 a barrel in late morning trade on the New York Mercantile Exchange.

GOLd futures prices today rose by 0.31% to Rs 26,418 per 10 grams as speculators enlarged positions after the metal gained in the global market.

At the Multi Commodity Exchange, metal prices for delivery in far-month June contracts gained Rs 81, or 0.31%, to trade higher at Rs 26,418 per 10 gram in a turnover of 12 lots.

Also, the metal prices for delivery in April edged up by Rs 71, or 0.31%, to Rs 26,224 per 10 gram, clocking a business volume of 561 lot.

In the international market, gold rose to $1,203.976 an ounce in Singapore from $1,201.83 yesterday.

Gold and Silver Trade Down on Global Cues Copper price Rose By 0.36%

In indian commodity trading Copper prices rose by 0.36% to Rs 358.10 per kg in futures trade today amid a firming trend in global market and rising spot demand.
At the Multi Commodity Exchange, copper for delivery in February traded higher by Rs 1.30, or 0.36%, to Rs 358.10 per kg in a business turnover of 711 lots.

The metal for delivery in April edged up by Rs 1.15, or 0.32%, to Rs 362.55 per kg in 36 lots.
Globally, copper for delivery in three months rose by 0.4% to $5,715 a tonne on the London Metal Exchange.
Market analysts said besides increased demand from consuming industries, a firming overseas trend after Greece reached a provisional deal with Eurozone Finance Ministers and ahead of housing data from the US, influenced copper prices at futures trade here.
Silver prices fell by 0.17% to Rs 36,253 per kg in futures trade today amid profit-booking by speculators and a weak global trend.

At the Multi Commodity Exchange, silver for delivery in March declined by Rs 61, or 0.17%, to Rs 36,253 per kg in a business turnover of 1,278 lots.

Similarly, the metal for delivery in May traded lower by Rs 57, or 0.16%, to Rs 36,610 per kg in 155 lots.
Meanwhile, silver fell 0.06% to USD 16.26 an ounce in Singapore
Gold prices eased by 0.30% to Rs 26,377 per 10 grams in futures trading today as speculators trimmed positions amid subdued global trend.

At the Multi Commodity Exchange, gold for delivery in May declined by Rs 79, or 0.30%, to Rs 26,377 per 10 grams in a business turnover of 14 lots.

Likewise, the metal for delivery in April traded lower by Rs 74, or 0.28%, to Rs 26,203 per 10 grams in 1,126 lots.
Analysts attributed the decline in gold futures to a weak global trend.
Meanwhile, gold traded lower by 0.03% to USD 1,203.50 an ounce in Singapore.

Copper Fall 0.23 % in Future Trade On Globle Cude

 

Indian commodity Base Matel Copper prices fell by 0.23 per cent to Rs 363 per kg for Future trade today as speculators reduced positions amid a weak trend overseas and low demand in the spot market.

 the Mcx copper for delivery in April shed 85 paise, or 0.23 per cent, to Rs 363 per kg in a business turnover of 83 lots.

Likewise, the metal for delivery in February traded lower by 70 paise, or 0.19 per cent, to Rs 358.75 per kg in 2,459 lots.
 

 the fall in copper prices at futures trade was largely in tune with a weak trend in base metals at the (LME).

 

Besides, low demand from domestic industries had a negative impact, they said.

Meanwhile, copper for delivery in three months retreated 0.20 per cent to USD 5,738.50 a metric tonne at the LME. In New York, futures for May delivery slid 0.20 per cent to USD 2.61 per pound.by 0.23 per cent to Rs 363 per kg for Future trade today as speculators reduced positions amid a weak trend overseas and low demand in the spot market. 

Gold was little changed on Friday.the metal was headed for its fourth straight weekly dip as a last-minute deal was expected to break the impasse over the Mediterranean country's bailout programme. Spot gold was steady at $1,207.60 an ounce by 0736 GMT, after dropping 0.5 percent in the previous session. The metal has lost 1.8 percent for the week so far, also dipping below the key $1,200 level briefly on Wednesday.

Spot gold was steady at $1,207.60 an ounce by 0736 GMT, after dropping 0.5 percent in the previous session. The metal has lost 1.8 percent for the week so far, also dipping below the key $1,200 level briefly on Wednesday.

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Bullion commodity : copper Future Fall 0.26% and Gold Extended Gain

Copper prices declined by 0.26 per cent to Rs 363.10 per kg in futures market today as speculators locked-in gains at prevailing levels even as the metal strengthened overseas.

Besides, low demand at spot markets from consuming industries put pressure on prices.

At the Multi Commodity Exchange, copper for delivery in April fell by 95 paise, or 0.26 per cent, to Rs 363.10 per kg in a business turnover of 93 lots.

Similarly, the metal for delivery in February traded lower by 85 paise, or 0.23 per cent, to Rs 358.65 per kg in 1,013 lots.

Globally, copper for delivery in three months climbed 1.7 per cent to USD 5,745 a metric tonne at the LME in yesterday's trade on speculation that reduced production at a BHP Billiton mine in Australia will mean a smaller global surplus.

Gold extended gains to a second straight session on Thursday

Spot gold rose 0.3 per cent to $1,215.93 an ounce by 0240 GMT. The metal closed up 0.3 per cent on Wednesday, after dropping to a six-week low of $1,197.56 earlier in the session

Gold's failure to hold losses below $1,200 could mean some consolidation was in the offing, said some chart analysts.

Jewellery Share Shine After RBI Relaxed Gold Import Norms

Jewellery Stocks were in limelight after the Reserve Bank of India allowed nominated banks to provide gold on loan to jewellers, thereby reducing their funding cost. The central bank also removes restriction on import of gold coins.

the RBI said, "Nominated banks are now permitted to import gold on consignment basis. All sale of gold domestically will, however, be against upfront payments. Banks are free to grant gold metal loans.on November 28 last year, gold imports were linked with its exports.

shares of jewellery maker such as Gitanjali Gems, Tribhovandas Bhimji Zaveri (TBZ), PC Jeweller, Rajesh Exports and Titan Company were trading higher by up to 5% on reports that the Reserve Bank of India allowed nominated banks to provide gold on loan to jewellers.

On the sectoral front, metal, consumer durables and capital goods witnessed the maximum gain in trade, while fast moving consumer remained the lone loser on the BSE sectoral space.

The broader indices too were going neck-to-neck with benchmarks, while the market breadth on the BSE was positive; there were 1243 shares on the gaining side against 729 shares on the losing side while 62 shares remain unchanged

Bullion Tips : Base Matel Future Rose On Global Cues

 

 Lead futures rose 0.41 per cent to Rs 111.50 per kg today on strong spot demand amid a firming trend overseas.
At the Multi Commodity Exchange, lead for delivery in February traded higher by 45 paise, or 0.41 per cent, to Rs 111.50 per kg, with a turnover of 250 lots.

The metal for delivery in March rose 35 paise, or 0.31 per cent, to Rs 112.80 per kg in a turnover of 13 lots.

Zinc futures edged up by 0.15 per cent to Rs 130.65 per kg today as speculators enlarged positions amid a firm global trend and better domestic demand.

At the Multi Commodity Exchange, zinc for delivery in the current month rose 35 paise, or 0.15 per cent, to Rs 130.65 per kg, with a business turnover of 263   lots.   

Likewise, the metal for delivery in March traded higher by 20 paise, or 0.15 per cent, to Rs 131.50 per kg in a turnover of 17 lots

Gold and Silver prices are Likely To Trade Positive cude oil remain volatile

Oil prices dipped on Wednesday after gaining more than a percent in the previous session Benchmark Brent crude futures were down 23 cents at $62.30 a barrel by 0226 GMT, while U.S. WTI crude were 29 cents lower at $53.24 a barre.

Crude oil Feb support level 3180 /3220 with resistance 3280/3320

Gold was trading near its lowest in six weeks on Wednesday as global equities recovered on signs Greek banks will continue to receive emergency funding despite a breakdown in debt talks between Athens and its creditors.

Spot gold was steady at USD 1,208.45 an ounce by 0038 GMT. It fell to USD 1,203.30 on Tuesday, its lowest since Jan. 6, before closing down 1.8 percent, as global equity markets recovered to trade slightly higher. Technical selling also added to the losses

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery shed $5.70, or 0.46%, to trade at $1,221.40 a troy ounce during European morning hours.

Futures were likely to find support at $1,216.50, the low from February 11, and resistance at $1,236.70, the high from February 16

On Monday, gold picked up 60 cents, or 0.05%, to settle at $1,227.70 as a broadly weaker U.S. dollar and ongoing uncertainty over developments in Greece boosted the appeal of the precious metal 

Elsewhere on the Comex, silver futures for March delivery dropped 47.2 cents, or 2.73%, to trade at $16.82 a troy ounce

Meanwhile, copper for March delivery eased down 1.4 cents, or 0.55%, to trade at $2.591 a pound

Trading volume in the copper market was expected to drop in the coming days as investors in China are off from February 18 through 24 for the Lunar New Year holiday

The Asian nation is the world's largest copper consumer, accounting for almost 40% of world consumption last year

Gold Gain in Logest Run in the week

Asian equities closed on a moderately positive note as the data showed Japan’s economy exited recession whereas the opposite is what seems to be true for European equities which are trading in deep red led by Greece equities on skepticism that a debt agreement is within reach.

Dollar Index too is seen trading marginally lower around 94.05 marks. The volatility is expected to remain relatively low during the evening session due to lack of major data and hence advice traders to look for small entry and exit opportunities.

 

MCX Gold futures stayed supported amid a continued recovery in the global prices today.The counter recovered from a one month low last week and extended their gains amide scalating geopolitical worries. The latest figures from World Council (WGC) indicated that the gold demand around the world picked up in Q4 2014 though overall interest in physical gold remained muted following a massive slide in Jewellery demand. The sentiments remained supportive in Asia following continued worries over Greek debt jitters.COMEX Gold trades at $1233 per ounce, up $6 per ounce on the day. MCX Gold futures aretrading at Rs 26813 per 10 grams up Rs 122 per 10 grams on the day. MCX Silver is tradingat Rs 38260 per kg, up Rs 56 per kg on the day.

In Energy, Crude oil too was little moved as NYMEX WTI electronic session prices added marginally to $53 per barrel level

from the base metals sector, no major movement has been witnessed during the day with most of the metals trading on the lower side with an exception to Zinc which is marginally up by around 0.3% from its previous close.

commodity bullions expected move up :crude oil future

In the indian commodity market the Crude oil futures rallied sharply on Friday, with prices continuing to recover from recent lows amid speculation productions cuts by drillers in the U.S and global oil companies will alleviate a glut in supplies.crude oil prises gained on monday crude oil delivary in march gained $1.57, or 3.07%

For the week, New York-traded oil futures climbed 77 cents, or 2.11%, the third straight weekly gain. New York-traded oil futures are up almost 15% over the past three weeks, however, prices are still down approximately 52% from a recent peak of $107.50 hit in June. Elsewhere, on the ICE Futures Exchange in London, Brent for April delivery soared $2.24, or 3.78%, on Friday to settle at $61.52 a barrel by close of trade. Prices hit $61.77 earlier in the session, the most since December 23. On Thursday, Brent surged $3.36, or 6.01%, to end at $59.28 a barrel. The April Brent contract rallied $3.02, or 4.84%, on the week.

Precious Metal Trade Drope This Fortnigh

In the indian bullion market mcx Gold held above a five-week low on Friday amid a weaker dollar and uncertainty over debt-laden Greece, but the safe-haven metal was set to close down for a third straight week on expectations of higher US interest rates. Spot gold had climbed 0.4 percent to USD 1,227 an ounce by 0323 GMT. The metal hit a five-week low of USD 1,216.45 in the previous session, before recovering to close up 0.3 percent. "Support for gold was well pronounced around the 100-day moving average of USD 1,216 and this level should hold over the short term as we await Monday's renewed Greek debt negotiations," said MKS Group trader Sam Laughlin, adding that the next level of support was at USD 1,200. Bullion has seen some upside recently as equity markets have been hit by confusion over Greece's debt negotiations with its European lenders and its future in the euro zone.

In the past fortnight, spot gold prices declined by around 2.5 per cent while Mcx gold prices rose by around 1.5 per cent. Reports that the Greek government had dropped calls for a write-off of its foreign debt sharpened risk appetite, sparking a rally in stock markets.

International spot silver prices declined by around 6 per cent in the last fortnight while MCX silver prices also declined by more than 5 per cent. Fall in gold prices, declining speculative interest and profit booking at higher levels further dragged down prices.

GOLD TRADE SILLIPED 14% TO 842.7 TONNES

In the commodity market old precious metal gold demand declined by 14 per cent to 842.7 tonnes in the country compared to the previous year, mainly due to government policies putting restrictions on imports, according to the latest updates of the World Gold Council (WGC).

The demand grew from 930.0t to 987.5t (+6%).However, the annual total of 3,923.7t was down 4% year-on-year – not surprising as consumer demand in 2014 was never likely to match 2013’s record surge says the WGC.

Jewellery demand was down 10% to 2,152.9t, but 5% above its five-year average. Investment rose 2% to 904.6t,although bar and coin fell from the 2013 record. Central banks bought 477.2t, close to a50-year high. Continued substitution pushed technology to an 11-year low of 389t. Total supply was flat: mine production was a record 3,114.4t while recycling fell to a seven-year low as prices plummeted to lowest in half a decade. According to the WGC,year-on-year comparisons for the last few quarters have been coloured by the singular strength in jewellery, bar and coin demand in 2013. Total supply for 2014 at 4,278.2t was little changed; an increase in mine supply was balanced by a further decline in recycling volumes.

Mcx Silver Future Contract Trade down

As per market overview today at 12.06 hrs MCX SILVER March contract was trading at Rs 37165 down Rs 263, or 0.64 percent. In the bullion market the SILVER rates touched an intraday high of Rs 37250 and an intraday low of Rs 37050. So far 1570 contracts have been traded. SILVER prices have moved down Rs 8843, or 19.23 percent in the March series so far. MCX SILVER May contract was trading at Rs 37385 down Rs 280, or 0.70 percent. The SILVER rate touched an intraday high of Rs 37500 and an intraday low of Rs 37362. So far 93 contracts have been traded. SILVER prices have moved down Rs 1624, or 4.16 percent in the May series so far. MCX SILVER July contract was trading at Rs 37904 down Rs 328, or 0.86 percent. The SILVER rate touched an intraday high of Rs 37904 and an intraday low of Rs 37904. So far 1 contracts have been traded. SILVER prices have moved down Rs 974, or 2.51 percent in the Juseries so far.