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Commodity MCX live Price Today.
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Showing posts with label
Commodity MCX live Price Today.
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Silver on MCX settled up 0.94% at 40791 as investors were uncertain whether the U.S. central bank would signal a tighter future monetary policy at a meeting. The U.S. Federal Reserve will likely raise its target interest rate to above the rate of inflation for the first time in a decade this week, seeking to sustain the second-longest U.S. expansion on record while continuing to edge rates higher. U.S. inflation expectations were flat in May after several months of gains, while Americans grew more pessimistic about income and spending growth, according to a Federal Reserve Bank of New York survey.
Trading Ideas:
* Silver trading range for the day is 40258-41086.
* Silver prices remained supported as investors were uncertain whether the U.S. central bank would signal a tighter future monetary policy at a meeting.
* With no major U.S. economic reports, market participants were busy digesting the increased trade tensions that came out of the G7 summit over the weekend.
* The Fed’s two-day meeting will kick off with almost certain to raise interest rates by a quarter point for a second time this year.
Lead futures were trading higher during the afternoon trade in the domestic market on Tuesday as participants created fresh positions, taking positive cues from spot market on pick-up in demand. 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 June 2018 contract is trading at Rs 168 per kg, up by 0.42 per cent, after opening at Rs 167.55, against a previous close of Rs 167.30. It touched the intra-day high of Rs 168.10.
Nickel futures were trading lower during the afternoon trade in the domestic market on Wednesday tracking a weak trend in base metals at the London Metal Exchange (LME) amid muted demand at the domestic spot markets. Market analysts said the fall in nickel prices was mostly in tune with a weak trend in the base metals pack at the LME.
Besides, muted demand from alloy-makers at the domestic spot markets weighed on metal prices in futures trade. At the MCX, nickel futures for June 2018 contract is trading at Rs 1055.60 per kg, down by 0.16 per cent, after opening at Rs 1051, against a previous close of Rs 1057.30. It touched the intra-day low of Rs 1050.40
Malaysian palm oil futures extended declines on Tuesday to hit their lowest in nearly a month, weighed down by lacklustre export demand and overnight losses in the U.S. soyoil market.
The palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was down 0.95 percent at 2,386 ringgit ($601.01) a tonne at the midday break. Earlier in the session, the contract hit 2,382 ringgit, its lowest since May 8.
Trading volume stood at 11,875 lots of 25 tonnes.
"Ramdan buying has fizzled out. Fresh export orders are not coming in at the expected pace," said a Kuala Lumpur-based palm trader said.
Buyers typically stock up palm oil a month before Ramadan, which began in mid-May this year.
