Currently, Domestic commodities markets are trading with mix note. MCXMETAL and MCXAGRI are showing upward trend, while MCXCOMDEX and MCXENERGY are showing downward trend on Multi Commodity Exchange (MCX). At MCX futures, MCXMETAL is trading at 4,285.6 (up by 0.03%), MCXAGRI is trading at 2,945.44 (up by 0.21%), MCXCOMDEX is trading at 3,363.95 (down by 0.03%), and MCXENERGY is trading at 2,986.71 (down by 0.26%). (At 11:30 AM today).
At NCDEX, the Dhaanya, an agri commodity index, is currently trading at 1,171.07, up by 0.18% (At 11:26 AM today).
Gold futures are trading with negative note in the Indian bullion market as April contract fell by Rs. 76, or 0.37%, to Rs. 20,194.00 per 10 grams on Multi Commodity Exchange (MCX) today. Speculators refrained to take fresh long positions on gold futures due to continuous positive economic data released by the U.S. that eroded the safe investment appeal for precious metals.
The U.S. Department of Labor released better than expected unemployment data on Friday. The unemployment rate declined to 9% in January, lowest level since April 2009, from 9.4% in December. Market was expecting for 9.5%. Moreover, U.S. initial jobless claims decreased by 42,000, more than forecasts, to 415,000 as compared to previous revised figure of 457,000. ISM non-manufacturing index also surged to 59.4 in January from 57.1 in December, a report released last week. Therefore, concern about recovery of U.S. economy shifted the investment from safe haven assets to riskier assets.
The holdings in the world’s largest gold-backed exchange traded fund, SPDR Gold Trust, declined to 1,228.864 tons by February 4, 2011 from 1,229.277 tons on February 3, 2011.
Dow Jones Industrial Average (DJIA) gained 29.89 points, or 0.28%, to 12,092.15 after opening at 12,061.70 against the previous close price of 12,062.30 on Friday due to optimistic views of U.S. economy.
At Multi Commodity Exchange (MCX), gold future for April contract is trading at Rs. 20,270.00 per 10 grams, down by 0.31%, after opening at Rs. 20,209.00 against the previous close price of Rs. 20,270.00. It touched the intra-day low of Rs. 20,194.00 till trading. (At 11:23 AM today).
Gold future for April contract, at COMEX, is trading at $1,348.00 per ounce, down by $1.0 per ounce, after opening at $1,348.1 per ounce against the previous close price of $1,349.0. It touched the intra-day low of $1,344.1 per ounce with a business volume of 6,072 lots till electronic trading. (At 11:22 AM today).
At Multi Commodity Exchange (MCX), silver future for March contract is trading at Rs. 44,536.00 per kg, up by 0.04%, after opening at Rs. 44,498.00 against the previous close price of Rs. 44,516.00 per kg. It touched the intra-day low of Rs. 44,437.00 till trading. (At 11:21 AM today).
The top gainers at MCX are potato for April contract (2.91%), Potato for March contract (2.56%), Potato TRWR for May contract (2.48%), Potato TRWR for March contract (2.39%) and Potato for May contract (2.33%). (At 11:20 AM today).
The top losers at MCX are Natural gas for February contract (-1.67%), Natural gas for March contract (-1.44%), Ironore for February contract (-0.98%), Natural gas for April contract (-0.93%) and Gold for April contract (-0.32%). (At 11:18 AM today).
The top gainers at NCDEX are Potato for March contract (3.01%), Potato for June contract (3.01%), Potato for April contract (3.00%), Chilli LCA for March contract (2.90%) and Chilli LCA for February contract (2.72%). (At 11:16 AM today).
The top losers at NCDEX are Natural gas for February contract (-1.27%), Light sweet crude oil for March contract (-1.21%), Turmeric for May contract (-0.55%), Steel long new for March contract (-0.55%) and Steel long new for February contract (-0.49%). (At 11:15 AM today).
Potato futures are the top performer on the Multi Commodity Exchange (MCX), as it gained 2.83% to Rs. 706.90 per 100 kgs today. It advanced on the back of increase in long positions by the speculators due to pick-up in the spot market demand. Moreover, concern about restricted arrivals from the producing regions also kept the prices in positive zone.
At Multi Commodity Exchange (MCX), potato future for March contract is trading at Rs. 706.40 per 100 kgs, up by 2.76%, after opening at Rs. 689.40 against the previous close price of Rs. 687.40. It touched the intra-day high of Rs. 706.90 till trading. (At 11:11 AM today).
Copper future for February contract is trading with positive note on the back of tracking global cues. February future surged 0.30% to Rs. 465.90 per kg on the Multi Commodity Exchange today due to concern that global economic recovery will boost the demand outlook for the metals which is used in cars, homes and appliances amid fall in global output. The metal prices has more than tripled since the end of 2008 on increasing demand from China, the world’s largest consumer.
The U.S. Department of Labor released better than expected unemployment data on Friday. The unemployment rate declined to 9% in January, lowest level since April 2009, from 9.4% in December. Market was expected for 9.5%.
Moreover, concern about shrinking global stockpiles with improving demand from China and US also boosted the demand outlook for the metal used in construction and electrical applications. Barclays Capital forecasted that copper supply may deficit by 822,000 tons in 2011, more than double last year’s shortage. While, The International Copper Study Group forecasted that copper inventory will deficit by 435,000 ton in this year as consumption are improving amid falling output.
The world refined copper market is expected to have a 500,000-metric-ton to 600,000-ton deficit in 2011, according to JPMorgan Securities Ltd.
Copper for February contract, at MCX, is trading at Rs. 465.40 per kg (up by 0.19%) after opening at Rs. 464.80 against the previous close price of Rs. 464.50 with intra-day high of Rs. 465.90 till the trading. (At 11:09 AM today).
While, copper future for March contract, at COMEX, is trading at $4.6200 a pound, up by 0.88%, after opening at $4.5795 a pound against the previous close price of $4.5795 a pound. It touched the high of $4.6220 with a business volume of 1,024 lots till electronic trading. (At 11:08 AM today).
Crude for February contract, at MCX, is trading at Rs. 4,080.00 per barrel (down by 0.20%) after opening at Rs. 4,085.00 against the previous close price of Rs. 4,088.00 with intra-day low of Rs. 4,073.00 till the trading. (At 11:06 AM today).
Nickel for February contract, at MCX, is trading at Rs.1,305.70 per kg (up by 0.90%) after opening at Rs. 1,296.00 against the previous close price of Rs. 1,294.10 with intra-day high of Rs. 1,307.00 till the trading. (At 11:05 AM today).
Natural gas Future for February contract is trading at Rs. 194.40 per mmbtu, down by 1.62%, after opening at Rs. 197.10 against the previous close price of Rs. 197.60. (At 11:04 AM today)
At NCDEX, the Dhaanya, an agri commodity index, is currently trading at 1,171.07, up by 0.18% (At 11:26 AM today).
Gold futures are trading with negative note in the Indian bullion market as April contract fell by Rs. 76, or 0.37%, to Rs. 20,194.00 per 10 grams on Multi Commodity Exchange (MCX) today. Speculators refrained to take fresh long positions on gold futures due to continuous positive economic data released by the U.S. that eroded the safe investment appeal for precious metals.
The U.S. Department of Labor released better than expected unemployment data on Friday. The unemployment rate declined to 9% in January, lowest level since April 2009, from 9.4% in December. Market was expecting for 9.5%. Moreover, U.S. initial jobless claims decreased by 42,000, more than forecasts, to 415,000 as compared to previous revised figure of 457,000. ISM non-manufacturing index also surged to 59.4 in January from 57.1 in December, a report released last week. Therefore, concern about recovery of U.S. economy shifted the investment from safe haven assets to riskier assets.
The holdings in the world’s largest gold-backed exchange traded fund, SPDR Gold Trust, declined to 1,228.864 tons by February 4, 2011 from 1,229.277 tons on February 3, 2011.
Dow Jones Industrial Average (DJIA) gained 29.89 points, or 0.28%, to 12,092.15 after opening at 12,061.70 against the previous close price of 12,062.30 on Friday due to optimistic views of U.S. economy.
At Multi Commodity Exchange (MCX), gold future for April contract is trading at Rs. 20,270.00 per 10 grams, down by 0.31%, after opening at Rs. 20,209.00 against the previous close price of Rs. 20,270.00. It touched the intra-day low of Rs. 20,194.00 till trading. (At 11:23 AM today).
Gold future for April contract, at COMEX, is trading at $1,348.00 per ounce, down by $1.0 per ounce, after opening at $1,348.1 per ounce against the previous close price of $1,349.0. It touched the intra-day low of $1,344.1 per ounce with a business volume of 6,072 lots till electronic trading. (At 11:22 AM today).
At Multi Commodity Exchange (MCX), silver future for March contract is trading at Rs. 44,536.00 per kg, up by 0.04%, after opening at Rs. 44,498.00 against the previous close price of Rs. 44,516.00 per kg. It touched the intra-day low of Rs. 44,437.00 till trading. (At 11:21 AM today).
The top gainers at MCX are potato for April contract (2.91%), Potato for March contract (2.56%), Potato TRWR for May contract (2.48%), Potato TRWR for March contract (2.39%) and Potato for May contract (2.33%). (At 11:20 AM today).
The top losers at MCX are Natural gas for February contract (-1.67%), Natural gas for March contract (-1.44%), Ironore for February contract (-0.98%), Natural gas for April contract (-0.93%) and Gold for April contract (-0.32%). (At 11:18 AM today).
The top gainers at NCDEX are Potato for March contract (3.01%), Potato for June contract (3.01%), Potato for April contract (3.00%), Chilli LCA for March contract (2.90%) and Chilli LCA for February contract (2.72%). (At 11:16 AM today).
The top losers at NCDEX are Natural gas for February contract (-1.27%), Light sweet crude oil for March contract (-1.21%), Turmeric for May contract (-0.55%), Steel long new for March contract (-0.55%) and Steel long new for February contract (-0.49%). (At 11:15 AM today).
Potato futures are the top performer on the Multi Commodity Exchange (MCX), as it gained 2.83% to Rs. 706.90 per 100 kgs today. It advanced on the back of increase in long positions by the speculators due to pick-up in the spot market demand. Moreover, concern about restricted arrivals from the producing regions also kept the prices in positive zone.
At Multi Commodity Exchange (MCX), potato future for March contract is trading at Rs. 706.40 per 100 kgs, up by 2.76%, after opening at Rs. 689.40 against the previous close price of Rs. 687.40. It touched the intra-day high of Rs. 706.90 till trading. (At 11:11 AM today).
Copper future for February contract is trading with positive note on the back of tracking global cues. February future surged 0.30% to Rs. 465.90 per kg on the Multi Commodity Exchange today due to concern that global economic recovery will boost the demand outlook for the metals which is used in cars, homes and appliances amid fall in global output. The metal prices has more than tripled since the end of 2008 on increasing demand from China, the world’s largest consumer.
The U.S. Department of Labor released better than expected unemployment data on Friday. The unemployment rate declined to 9% in January, lowest level since April 2009, from 9.4% in December. Market was expected for 9.5%.
Moreover, concern about shrinking global stockpiles with improving demand from China and US also boosted the demand outlook for the metal used in construction and electrical applications. Barclays Capital forecasted that copper supply may deficit by 822,000 tons in 2011, more than double last year’s shortage. While, The International Copper Study Group forecasted that copper inventory will deficit by 435,000 ton in this year as consumption are improving amid falling output.
The world refined copper market is expected to have a 500,000-metric-ton to 600,000-ton deficit in 2011, according to JPMorgan Securities Ltd.
Copper for February contract, at MCX, is trading at Rs. 465.40 per kg (up by 0.19%) after opening at Rs. 464.80 against the previous close price of Rs. 464.50 with intra-day high of Rs. 465.90 till the trading. (At 11:09 AM today).
While, copper future for March contract, at COMEX, is trading at $4.6200 a pound, up by 0.88%, after opening at $4.5795 a pound against the previous close price of $4.5795 a pound. It touched the high of $4.6220 with a business volume of 1,024 lots till electronic trading. (At 11:08 AM today).
Crude for February contract, at MCX, is trading at Rs. 4,080.00 per barrel (down by 0.20%) after opening at Rs. 4,085.00 against the previous close price of Rs. 4,088.00 with intra-day low of Rs. 4,073.00 till the trading. (At 11:06 AM today).
Nickel for February contract, at MCX, is trading at Rs.1,305.70 per kg (up by 0.90%) after opening at Rs. 1,296.00 against the previous close price of Rs. 1,294.10 with intra-day high of Rs. 1,307.00 till the trading. (At 11:05 AM today).
Natural gas Future for February contract is trading at Rs. 194.40 per mmbtu, down by 1.62%, after opening at Rs. 197.10 against the previous close price of Rs. 197.60. (At 11:04 AM today)
Regards,
The United States Existing Home Sales for June are due at 14:00 GMT, which are expected with 1.9% rebound top 4.90 million from 4.81 million.
ReplyDeleteAt 14:30 GMT, the EIA report for crude oil inventories will be released for the week ending July 8, where in the prior week, crude oil inventories decreased by 0.9 million barrels, and Wednesday’s report is expected to show that crude oil inventories fell by 1.75 million barrels
The natural gas markets had a very quiet day on Tuesday, as the markets have taken a break for the second day in a row. This makes sense as the last surge upward had so much power behind it. At these levels, we are simply too far from either major support or resistance to get involved. We are waiting to see the market react at $4.20 or $4.80 to take a position.
Natural gas prices dropped on Tuesday on expectations of milder weather conditions in the United States next week, noting that natural gas prices have been rising on warmer weather conditions, since it will increase speculations of rising demand for power-plant fuel to meet rising cooling demand.
Regards,
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CRUDEOIL (19 FEB.) TREND: CONSOILDATE
ReplyDeleteRES 1: 6180
RES 2: 6240
SUPP 1: 6060
SUPP 2: 6000
STRATEGY: BUY ON DIPS
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