Showing posts with label Agri Commodity Tips. Show all posts
Showing posts with label Agri Commodity Tips. Show all posts
Wednesday, 11 December 2019
Thursday, 30 August 2018
White metal dips on feeble global cues
Silver futures were trading lower during the afternoon trade in the domestic market on Thursday 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.
At the MCX, silver futures for September 2018 contract was trading at Rs 37090 per kg, down by 0.12 per cent, after opening at Rs 37,069, against a previous close of Rs 37,135. It touched the intra-day low of Rs 37,003
Daily Commodity Mcx Live Price
Wednesday, 29 August 2018
India`s soybean output may rise 20 percent in 2018/2019
India's soybean output is set to jump about 20 percent to over 10 million tonnes in the 2018/2019 crop year that starts in October, an industry official said on Wednesday.
Higher production in the world's top importer of edible oils could curb its appetite for cargoes from overseas, potentially dragging on international soybean prices.
"(We are) looking at higher acreage and satisfactory rain so far in major soybean growing areas (such as) Madhya Pradesh and Maharashtra," said B.V. Mehta, executive director of the Solvent Extractors' Association of India (SEA).
"The initial estimate (for 2018/19) is 10-plus million metric tonnes," he said on the sidelines of an industry event in Kuala Lumpur.
Mehta added that India would likely churn out 8.3 million tonnes of soybeans in the 2017/2018 crop year that ends on Sept. 30.
The amount of land in India planted with soybeans for the 2018/2019 crop year had risen to 11.1 million hectares as of Aug. 10, according to government data, up from 10.2 million hectares at the same time the previous year.
However, monsoon rains are likely to be below average in 2018, after some parts of the country experienced tepid rainfall during the first-half of the season.
Commodity Mcx Live Price
Tuesday, 28 August 2018
Gold prices steady as dollar sags on U.S-Mexico trade deal
Gold prices held steady on Tuesday after hitting a two-week high in the previous session, with the dollar under pressure in the wake of a trade deal between the United States and Mexico.
Fundamentals
* Spot gold was steady at $1,211.31 an ounce at 0047 GMT. Prices hit their highest since Aug. 13 at $1,212.38 on Monday, while the metal rose about 1.7 percent on Friday in its biggest one-day percentage gain since May 17, 2017.
* U.S. gold futures were up 0.2 percent at $1,217.90 an ounce.
* The dollar fell to a four-week low on Monday, as risk appetite improved and investors unwound some safe-haven bets on the currency after the United States and Mexico reached a trade deal.
* The dollar index slid 0.1 percent against a basket of six major currencies on Tuesday.
* The United States and Mexico agreed to overhaul the North American Free Trade Agreement (NAFTA), putting pressure on Canada to agree to the new terms on auto trade and other issues to remain part of the three-nation pact. An agreement could ease concerns about an escalation in global trade tensions.
* The dollar was also undermined by expectations of a more gradual pace in the U.S. interest rate increases.
* Interest rate hike expectations have supported the dollar this year as the U.S. economy tracked a stable growth path.
Daily Commodity Mcx Live Price
Friday, 24 August 2018
Gold prices inch up, but trade concerns drag
Gold prices edged up on Friday after falling nearly 1 percent in the previous session, but expectations of higher U.S. interest rates and a robust dollar amid the Sino-U.S. trade war kept a lid on the market.
Gold has lost its appeal as a safe-haven asset amid international trade disputes and the Turkish currency crisis, with investors increasingly turning to the U.S. dollar instead.
Spot gold was up 0.2 percent at $1,187.06 an ounce at 0337 GMT, after falling about $10 on Thursday. Prices have risen 0.2 percent so far this week, after dropping for six straight weeks.
U.S. gold futures were down 0.1 percent at $1,192.60 an ounce.
U.S. and Chinese officials ended two days of talks on Thursday with no major breakthrough as their trade war escalated with activation of another round of tariffs on $16 billion worth of each country's goods.
"Investors are worried about the trade war and that has helped the dollar. But the dollar will not be as strong as it has been going forward and that should help gold prices to go up," said Ji Ming, chief analyst at Shandong Gold Group.
PREMIUM FUTURE CALL: BUY ARVIND ABOVE 414 TARGET 416 / 418.50 / 422 STOPLOSS 411.50
Gold Live Tips
Monday, 20 August 2018
Oil prices edge down on worries over slowing economic growth
Oil prices fell on Monday as concerns over slowing economic growth weighed on markets.
Brent crude futures, which act as a benchmark for international oil prices, were at $71.59 per barrel at 0413 GMT, down 24 cents, or 0.3 percent, from their last close.
U.S. West Texas Intermediate (WTI) crude futures were down 24 cents, or 0.4 percent, at $65.67 per barrel.
Reuters technical commodity analyst Wang Tao said Brent and WTI would likely come under pressure soon, testing support at $70.62 per barrel and $64.83 per barrel respectively.
"Disappointing industrial data out of China along with concerns over emerging market economies centred on Turkey weighed on commodities," Edward Bell of Emirates NBD bank said in a note on Sunday.
In the United States, U.S. energy companies last week kept the oil rig count unchanged at 869, according to the Baker Hughes energy services firm .
Gold Live Tips
Saturday, 18 August 2018
Asia Gold: Buyers snap up bargains as price dive revives demand
Physical gold demand in India regained momentum this week as jewellers stocked up after prices dipped to their lowest in over seven months, with lower prices attracting fresh buying and driving premiums higher in other major Asian hubs as well.
Dealers in India, the second biggest gold consumer after China, were charging a premium of up to $1 an ounce, compared with a discount of $1.5 last week, as prices fell to their lowest since Jan. 10, at 29,268 rupees, earlier on Friday.
Jewellery demand was robust during the India International Jewellery Show, said Colin Shah, vice chairman of Gems and Jewellery Export Promotion Council.
The expo took place between Aug. 9 and Aug. 13 in Mumbai.
Jewellers are again becoming active in the market due to the price correction and good sales at the exhibition, said a Mumbai-based dealer with a private bank.
India's gold imports rose for the first time in seven months in July to 75 tonnes, provisional data from metals consultancy GFMS showed.
"In August, imports will rise like July. Prices are very attractive for jewellers to build stocks," the bank dealer in Mumbai said.
Daily Gold Live Tips
Monday, 13 August 2018
Nickel futures up on pickup in demand
Nickel futures were trading higher during the noon trade in the domestic market on Monday as speculators increased their positions, taking positive cues from spot market on soaring demand. Analysts said, widening of positions by traders on the back of rising demand from alloy-makers at domestic spot markets and a firm trend overseas kept nickel prices higher in futures trade.
At the MCX, nickel futures for August 2018 contract is trading at Rs 960.80 per kg, up by 0.87 per cent, after opening at Rs 957.60, against a previous close of Rs 952.50. It touched the intra-day high of Rs 962.90.
Gold Live Tips
Lead futures rise on increasing demand
Lead futures were trading higher during the afternoon trade in the domestic market on Monday as participants created fresh positions, taking positive cues from spot market on pick-up in demand. Marketmen said building up of positions by traders backed by upsurge in demand from battery-makers at domestic spot market, supported the upside in lead prices at futures trade.
At the MCX, lead futures for August 2018 contract is trading at Rs 145.20 per kg, up by 0.30 per cent, after opening at Rs 144.50, against a previous close of Rs 144.90. It touched the intra-day high of Rs 145.40.
Gold Live Tips
Saturday, 11 August 2018
India`s fuel demand rose 7.4 percent in July
India's fuel demand rose 7.4 percent in July compared with the same month last year.
Consumption of fuel, a proxy for oil demand, totalled 17.06 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.
Sales of gasoline, or petrol, were 7.8 percent higher from a year earlier at 2.31 million tonnes.
Cooking gas or liquefied petroleum gas (LPG) sales increased 6.0 percent to 2.04 million tonnes, while naphtha sales surged 60.8 percent to 1.14 million tonnes.
Sales of bitumen, used for making roads, were 52.7 percent up, while fuel oil use edged lower 2.5 percent in July.
Gold Live Tips
Crude oil futures end higher on forecast for rising demand
Crude oil futures ended higher on Friday as a forecast for rising global crude demand, and supply boosts from Russia, offset lingering concerns about trade tensions cutting global consumption of energy products. The International Energy Agency (IEA) raised its forecast for global oil demand growth by 110,000 barrels a day to 1.5 million barrels for 2019.
Its monthly report also said global supply had risen by 300,000 barrels a day last month, mainly because of higher output from Russia and higher output from the Organization of the Petroleum Exporting Countries. Meanwhile, the number of active U.S. rigs drilling for oil increased by 10 to 869 for the week, coming after the report showed a decline of 2 in the earlier period.
Its monthly report also said global supply had risen by 300,000 barrels a day last month, mainly because of higher output from Russia and higher output from the Organization of the Petroleum Exporting Countries. Meanwhile, the number of active U.S. rigs drilling for oil increased by 10 to 869 for the week, coming after the report showed a decline of 2 in the earlier period.
Benchmark crude oil futures for September surged 82 cents or 1.2 percent to settle at $67.63 a barrel on the New York Mercantile Exchange. October Brent crude rose 74 cents or 1 percent at $72.81 a barrel on London’s Intercontinental Exchange.
Gold Live Tips
Friday, 10 August 2018
Gold prices buoyed by global political tensions
Gold prices held broadly steady in Asia on Friday after dipping the session before, drawing little support from global political tensions and turbulence in currency markets.
Spot gold was flat at $1,212.12 an ounce at 0321 GMT, having lost 0.1 percent on Thursday.
U.S. gold futures were steady at around $1,219.6 an ounce.
"We're looking for a direction in the U.S. dollar to really dictate price action (in gold) today," ANZ analyst Daniel Hynes said, adding geopolitical issues around, in emerging markets in particular, were unlikely to provide a boost to prices.
The U.S. dollar, in which gold is priced, was down about 0.2 percent at 110.90 yen. The greenback, however, hovered just short of a 13-month high against a basket of peers as European currencies such as the pound and euro continued to lose traction.
Meanwhile, fresh U.S. sanctions against Moscow drove down Russia's rouble to a near two-year low, while the Turkish lira plumbed a record low in the wake of a diplomatic rift with the United States.
Gold prices, which can gain during uncertainty, have largely failed to benefit from rising geopolitical tensions this year, as investors have chosen the safety of the dollar over the precious metal.
Daily Gold Live Tips
Thursday, 9 August 2018
Oil prices rebound after heavy declines over trade dispute
Oil prices on Thursday eked out gains on concerns about Iranian crude supplies as the U.S. hit Tehran with renewed sanctions, halting the previous session's declines amid the escalating China-U.S. trade dispute and worries over China's demand.
Brent crude futures were up 30 cents, or 0.4 percent, at $72.58 barrel by 0417 GMT, following a decline of more than 3 percent on Wednesday.
U.S. West Texas Intermediate (WTI) crude futures had gained 11 cents, or 0.2 percent, to $67.05 a barrel, after dropping 3.22 percent the previous session.
"The market is supported by concerns the sanctions on Iran are going to reduce Iranian supply," said Tony Nunan, oil risk manager at Mitsubishi in Tokyo.
"The geopolitical risk from Iran is keeping a floor under the price," he said.
The U.S. reimposed sanctions on some industries on Tuesday against Iran, third-biggest producer in the Organization of the Petroleum Exporting Countries (OPEC).
Gold Live Tips
Wednesday, 8 August 2018
Gold edges up as dollar softens versus yuan
Gold prices drifted higher in Asian trade on Wednesday, extending gains into a second session, as the U.S. dollar softened against China's yuan and the euro.
Spot gold rose 0.2 percent to $1,213.56 an ounce at 0320 GMT, after rising 0.4 percent in the previous session.
U.S. gold futures were up 0.3 pct at $1221.70 per ounce.
"The dollar-CNH is a bit under pressure this morning and we're seeing some buying on the back of that," a Hong Kong-based trader said.
China's yuan held firm near a one-week high versus the dollar early Wednesday, following firmer equities, extending rise after the central bank last week took steps to curb the currency's decline.
Against a basket of currencies, the dollar eased 0.1 percent as its recent rally on concerns over escalating trade tensions showed signs of fading.
A weaker dollar makes greenback-denominated gold cheaper for holders of other currencies.
Daily Gold Live Tips
Tuesday, 7 August 2018
White metal rises on strong global cues
Silver futures were trading higher in the domestic market on Tuesday taking positive cues from the global market. Market analysts said a firm trend in precious metals in global market mainly attributed to the rise in silver prices at the futures trade.
At the MCX, silver futures for September 2018 contract closed at Rs 38,093 per kg, up by 0.52 per cent, after opening at Rs 37,967 against a previous close of Rs 37,896. It touched the intra-day high of Rs 38,134.
Gold Live Tips
Oil rises ahead of renewed U.S. sanctions against Iran
Oil prices rose on Tuesday ahead of the introduction of U.S. sanctions against major crude exporter Iran.
Spot Brent crude oil futures were at $73.88 per barrel at 0241 GMT on Tuesday, up 13 cents, or 0.2 percent, from their last close.
U.S. West Texas Intermediate (WTI) crude futures were up 1 cent at $69.02 barrel.
U.S. sanctions against Iran, which shipped out almost 3 million barrels per day (bpd) of crude in July, are set to begin at 12:01 a.m. U.S. Eastern time (0401 GMT) on Tuesday.
"The U.S. seems hell-bent on regime change in Iran," said Greg McKenna, chief market strategist at futures brokerage AxiTrader.
Many countries, including U.S. allies in Europe as well as China and India oppose the introduction of new sanctions, but the U.S. government said it wants as many countries as possible to stop buying Iranian oil.
HEAT IMPACTS OIL
The main oil market price drivers of recent months have been output levels by top producers Russia, Saudi Arabia and the United States, renewed Iran sanctions, the U.S.-China trade dispute, and unplanned supply disruptions. Some analysts warned that a global heat wave could also now affect oil demand.
Today Gold Live Tips
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