Iranian Oil Minister Bijan Zanganeh said some members of oil producer group OPEC were acting in accordance with U.S. policies, Iran's Khaneye Mellat news agency reported on Friday.
Showing posts with label Gold Live Tips. Show all posts
Showing posts with label Gold Live Tips. Show all posts
Saturday, 25 August 2018
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
Thursday, 23 August 2018
Crude oil futures end higher as US crude supply declines
Extending gains for fifth straight day, Crude oil futures ended higher on Wednesday, with benchmark prices at their highest finish in roughly two weeks after data showed a sharper-than-expected decline in US crude inventories. The Energy Information Administration (EIA) reported that domestic crude supplies fell by 5.8 million barrels for the week ended August 17. Meanwhile, the EIA data also revealed that US crude production climbed by 100,000 barrels to 11 million barrels a day last week.
It’s up by nearly 1.5 million barrels from the same time a year ago. Meanwhile, both grades of crude oil have enjoyed a multi-session streak of gains on anticipated supply concerns as investors have been expecting a series of US sanctions against Iran to eventually remove as many as 1 million to 1.5 million barrels of oil a day from global oil supplies.
It’s up by nearly 1.5 million barrels from the same time a year ago. Meanwhile, both grades of crude oil have enjoyed a multi-session streak of gains on anticipated supply concerns as investors have been expecting a series of US sanctions against Iran to eventually remove as many as 1 million to 1.5 million barrels of oil a day from global oil supplies.
Benchmark crude oil futures for October rose $2.02 or 3.1 percent to settle at $67.86 a barrel on the New York Mercantile Exchange. October Brent crude surged $2.15 or 3 percent at $74.78 a barrel on London’s Intercontinental Exchange.
Today Gold Live Tips
Wednesday, 22 August 2018
Russian firms, vessels hit with U.S. sanctions over North Korea oil transfers
The United States on Tuesday announced sanctions on two Russian shipping companies and six vessels it said were involved in the transfer of refined petroleum products to North Korean vessels in violation of United Nations. restrictions.
Russian Deputy Foreign Minister Sergei Ryabkov called the sanctions as well as other U.S. steps over alleged hacking, groundless, and promised a response.
The U.S. Treasury identified the shipping firms as Vladivostok-based shipping companies Primorye Maritime Logistics Co Ltd (Primorye) and Gudzon Shipping Co LLC (Gudzon). It also named six Russian-flagged vessels: Bella, Bogatyr, Neptun, Partizan, Patriot and Sevastopol.
"Ship-to-ship transfers with North Korea-flagged vessels from Russia or elsewhere of any goods being supplied, sold, or transferred to or from (North Korea) are prohibited under the U.N. Security Council resolutions on North Korea and are sanctionable under U.S. law," U.S. Treasury Secretary Steven Mnuchin said in a statement.
Gold Live Tips
Tuesday, 21 August 2018
Gold prices extend gains as dollar sags after Trump remarks
Gold prices rose on the back of a weaker U.S. dollar on Tuesday, extending gains into a third session after U.S. president Donald Trump said he was "not thrilled" with the U.S. Federal Reserve for raising interest rates.
Fundamentals
Spot gold was up 0.3 percent at $1,193.97.24 an ounce at 0054 GMT. It climbed 0.5 percent in the previous session. U.S. gold futures were up 0.5 percent at $1,200.60 an ounce.
The dollar index , which measures the greenback against a basket of six major peers, was down 0.4 percent at 95.494. The dollar was down 0.2 percent at 109.86 yen.
Trump said on Monday he was "not thrilled" with the Federal Reserve under his own appointee, Chairman Jerome Powell, for raising interest rates and said the U.S. central bank should do more to help him to boost the economy.
Asian stocks were capped in the wake of those comments from Trump and after he accused China and Europe of manipulating their currencies.
Today 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
Friday, 17 August 2018
India`s palm oil imports set to hit six-year low - industry official
India's palm oil imports are likely to fall 15 percent in 2017/18 from the year before to their lowest in six years, hit by a hike in import taxes, a weaker rupee and tighter credit for would-be buyers, a senior industry official told Reuters.
Reduced purchases by the world's top importer of the oil, where it is widely used to fry foods such as samosas or bhajis, could pile more pressure on benchmark international futures that are already trading near their lowest in three years.
"Local prices moved up due to higher import tax and depreciation in the rupee. The price rise moderated demand for imports," said B.V. Mehta, executive director of the Solvent Extractors' Association of India (SEA).
India in March raised its import tax on refined palm oil to 54 percent to support local farmers. That made palm cargoes less appealing than shipments of alternative edible oils such as soyoil, sunflower oil and canola oil - at least until import duties on those commodities were raised to 45 percent in June.
Thursday, 16 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. We 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 36920 per kg, down by 2.33 per cent, after opening at Rs 37,677, against a previous close of Rs 37,799. It touched the intra-day low of Rs 36,423.
Gold Live Tips
Cardamom futures up on increasing demand
Cardamom futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators extended their positions in the agri-commodity amid rise in physical demand for cardamom in the domestic spot market. Further, insufficient supplies on higher physical arrivals from the major cardamom producing regions, supported the upward trend in the domestic cardamom prices.
At the MCX, cardamom futures for September 2018 contract was trading at Rs 1296.80 per kg, up by 2.99 per cent, after opening at Rs 1296, against a previous close of Rs 1259.10. It touched the intra-day high of Rs 1296.80.
Gold Live Tips
Tuesday, 14 August 2018
Gold stabilises as dollar pulls back from 13-month high
Gold prices traded steady on Tuesday, but hovered close to an 18-month low, as the U.S. dollar pared gains after posting a 13-month high in the previous session.
Fundamentals
Spot gold was up 0.1 percent at $1,194.13 an ounce, as of 0106 GMT. In the previous session, the bullion hit $1191.35, its lowest since January 30, 2017.
U.S. gold futures were up 0.1 percent at $1,200.5 an ounce.
The dollar index, which measures the greenback against a basket of six major currencies, was down about 0.1 percent at 96.339 early Tuesday after climbing to a 13-month high on Monday.
Asia share markets tried to regain their footing on Tuesday as tremors from the collapse of the Turkish lira ebbed a little and Wall Street proved resilient to the shockwaves.
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
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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