Commodity Report Outlook|24 carat financial services | 21 sep 2017

commodity tips:-

MCX REPORT:- 

Mcx Tips

Special News:-

              Commodities - Crude Oil Prices Mixed As Market Looks T    U.S. Rig Count

      Gold prices rose in Asia on Friday as investors they digested an alarming report that North Korea could test a           nuclear  weapon over the Pacific Ocean with other attention onfixed on a policy speech on Brexit later in the day.

North Korean Foreign Minister Ri ong Ho said on Friday he believes the North could consider a hydrogen bomb test on the Pacific Ocean of an unprecedented scale, South Korea's  onhap news agency reported.

Ri was speaking to reporters in New York when he was asked what North Korean leader Kim Jong Un had meant when he threatened in an earlier statement the "highest level of hard-line countermeasure in history" against the United States. North Korea could consider a hydrogen bomb test, Ri said, although he did not know Kim's exact thoughts,

Yonhap reported.

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Commodity Report Outlook|24 carat financial services | 07 sep 2017

commodity tips:-

MCX REPORT:- 

Mcx Tips

NEWS:-

• India's Multi Commodity Exchange has recorded a daily turnover of Rs. 7755.71 crore in session 1 on Monday, September 04, 2017. MCX Comdex, the composite index of metals, energy and agri-commodities was up by 18.28 point to 3332.00 point.

• MCX Metal index was reached at 5100.50 and MCX Energy index was reached at 2289.88 while MCX Agri index reached at 2545.62 point. MCX COMDEX is India's maiden real-time Composite Commodity Index based on commodity futures prices of an exchange.

Bullion->

• GOLD Oct17 contract was up by 1.08% to Rs. 30144.00 per 10 gram. GOLD Dec17 contract was up by 1.03% to Rs. 30298.00 per 10 gram. GOLDM Sep17 contract was up by 1.16% to Rs. 30135.00 per 10 gram.

• GOLDM Oct17 contract was up by 1.11% to Rs. 30158.00 per 10 gram. GOLDGUINEA Sep17 contract was up by 1.19% to Rs. 24209.00 per 8 gram. GOLDPETAL Sep17 contract was up by 1.03% to Rs. 3027.00 per gram.

• SILVER Sep17 contract was up by 1.38% to Rs. 40573.00 per kg. SILVER Dec17 contract was up by 1.02% to Rs. 41342.00 per kg. SILVERM Nov17 contract was up by 1.01% to Rs. 41361.00 per kg. SILVERM Feb18 contract was up by 1.01% to Rs. 41970.00 per kg. SILVERMIC Nov17 contract was up by 1.02% to Rs. 41364.00 per kg.
   

Metals->

• COPPER Nov17 contract was up by 1.10% to Rs. 446.80 per kg. COPPERM Nov17 contract was up by 1.05% to Rs. 446.65 per kg. NICKEL Sep17 contract was up by 0.98% to Rs. 781.40 per kg. NICKELM Sep17 contract was up by 0.98% to Rs. 781.30 per kg. ALUMINIUM Sep17 contract was down by 0.26% to Rs. 135.70 per kg.

• ALUMINI Sep17 contract was down by 0.26% to Rs. 135.70 per kg. LEAD Sep17 contract was down by 0.10% to Rs. 152.50 per kg. LEADMINI Sep17 contract was down by 0.07% to Rs. 152.55 per kg. ZINC Sep17 contract was down by 0.20% to Rs. 204.4 per kg. ZINCMINI Sep17 contract was down by 0.20% to Rs. 204.4 per kg.

  

Energy->

• CRUDEOIL Sep17 contract was up by 0.63% to Rs. 3040.00 per BBL. CRUDEOILM Sep17 contract was up by 0.66% to Rs. 3040.00 per BBL. NATURALGAS Sep17 contract was down by 0.86% to Rs. 195.20 per MMBTU.

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Commodity Report Outlook|24 carat financial services | 07 sep 2017

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MCX REPORT:- 

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Mcx Tips

NEWS:-

• India's Multi Commodity Exchange has recorded a daily turnover of Rs. 9891.86 crore in session 1 on Wednesday, September 06, 2017. MCX Comdex, the composite index of metals, energy and agri-commodities was up by 6.21 point to 3347.41 point.
• MCX Metal index was reached at 5068.64 and MCX Energy index was reached at 2353.10 while MCX Agri index reached at 2563.03 point. MCX COMDEX is India's maiden real-time Composite Commodity Index based on commodity futures prices of an exchange.

Bullion->

• GOLD Oct17 contract was down by 0.03% to Rs. 30213.00 per 10 gram. GOLD Dec17 contract was up by 0.04% to Rs. 30400.00 per 10 gram. GOLDM Oct17 contract was down by 0.02% to Rs. 30224.00 per 10 gram.
• GOLDM Nov17 contract was up by 0.05% to Rs. 30288.00 per 10 gram. GOLDGUINEA Sep17 contract was up by 0.31% to Rs. 24233.00 per 8 gram. GOLDPETAL Sep17 contract was up by 0.17% to Rs. 3022.00 per gram.
• SILVER Dec17 contract was up by 0.23% to Rs. 41515.00 per kg. SILVER Mar18 contract was up by 0.25% to Rs. 42129.00 per kg. SILVERM Nov17 contract was up by 0.20% to Rs. 41528.00 per kg. SILVERM Feb18 contract was up by 0.22% to Rs. 42132.00 per kg. SILVERMIC Nov17 contract was up by 0.22% to Rs. 41534.00 per kg.

Metals->

• COPPER Nov17 contract was up by 0.30% to Rs. 446.35 per kg. COPPERM Nov17 contract was up by 0.33% to Rs. 446.30 per kg. NICKEL Sep17 contract was down by 0.13% to Rs. 767.20 per kg. NICKELM Sep17 contract was down by 0.14% to Rs. 767.10 per kg. ALUMINIUM Sep17 contract was down by 0.34% to Rs. 132.90 per kg.
• ALUMINI Sep17 contract was down by 0.34% to Rs. 132.90 per kg. LEAD Sep17 contract was up by 0.47% to Rs. 149.40 per kg. LEADMINI Sep17 contract was up by 0.47% to Rs. 149.4 per kg. ZINC Sep17 contract was down by 0.83% to Rs. 197.4 per kg. ZINCMINI Sep17 contract was down by 0.83% to Rs. 197.4 per kg.

  

Energy->

• CRUDEOIL Sep17 contract was up by 0.86% to Rs. 3149.00 per BBL. CRUDEOILM Sep17 contract was up by 0.83% to Rs. 3148.00 per BBL. NATURALGAS Sep17 contract was down by 0.16% to Rs. 191.10 per MMBTU.

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Commodity Report Outlook|24 carat financial services | 31 august 2017

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NEWS:--

 ENERGY :- 

• The American Petroleum Institute (API) reported a major draw in commercial crude storage, forecasting a drop of 5.78 mmb for the week ending August 25. Gasoline inventories are expected to rise by 0.47 mmb and Distillates may fall by 0.48 mmb for the reporting week.

• Crude Oil has been struggling over the past few sessions as Hurricane Harvey wreaked havoc along the Gulf Coast shutting down refineries and processing units which in turn push oil prices lower as closures would mean lesser demand for oil in the immediate term. 

• Refining demand has been one of the key drivers for Crude Oil along with past few months despite rising US production and OPEC's lack of compliance to output cuts. EIA is scheduled to release its official report at 8 pm with analysts forecasting a 1.9 mmb draw in oil stocks along with minor withdrawals for gasoline and distillates.

• The short term trend should continue to remain weak but we may see some short covering in intraday if oil inventories are in line or better than forecasts.

BULLION:- 

• Precious Metals are expected to come under pressure today as nonfarm payrolls and revised second quarter GDP strengthened suggesting that the FED may be able to push for another rate hike this year. An increase in rates is typically negative for non-yielding assets like Gold and Silver.

• Non-Farm Payrolls rose 237,000 in August beating forecasts of 183,000 and even stronger than the revised figure of 201,000 in the previous month whereas revised Q2 GDP rose 3.0% compared to analyst expectations of 2.7%.  

• The strength in the recent data has seen the dollar recover higher as it raises possibilities of a rate hike from the central bank this December which could be negative for precious metals as a whole. We are expecting limited downsides in prices as geopolitical tensions and safe haven factors continue to underpin demand for such assets.

• We are slightly negative on precious metals for the day and expect further declines towards the closing.

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Commodity Report Outlook|24 carat financial services | 30 august 2017

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Mcx Report

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•  Bullion:- 

• Gold rallied to a 10-month high spurred by safe haven buying after North Korea test fired several rockets into the sea over Japan renewing tensions in the South Asian region. Gold futures, for immediate delivery, is trading at $1328.62/oz, up over a percent whereas Silver is up 18 cents to trade at $17.63/oz.
• Gold has been gaining steadily over the past few weeks as geopolitical tensions pushed prices to its highest level in 2017 and the recent consolidation was a result of the absence of the safe haven factors which waned over the past week. North Korea recent provocation once again brings back buying in precious metals. We are also set to see the Consumer Confidence figures from the US which may have weakened in August according to forecasts, a weaker figure could push Gold further higher.
• In the short term, we maintain a very bullish view on Gold and expect prices to test $1350-$1360 in the coming weeks.    

• Energy:-  

• Crude Oil prices continued to dip further for the second day this week as the market continued to analyze the situation. WTI futures, traded on NYMEX, is down 0.34% to trade at $46.37/bbl while domestic prices are trading at Rs.2975, up 5 points today.Hurricane Harvey, the largest storm to hit the Gulf Coast shut down a majority of refining units and off shore drilling rigs as it made landfall over the week. 
• The major impact as felt in the Texas region which accounts for almost 11% for the entire US refining capacity. The immediate impact was a sharp rally in gasoline prices and crude is likely taking the collateral damage as closed refineries would lead to lesser demand for oil prices. The full extent of the damage is yet to be understood and a drawn out impact/closure of facilities could eventually lead to prices recovering higher as we move ahead. 
• The short term picture looks weak for Crude prices are we may see further declines this week. Support is seen at Rs.2950 breaking which we expect oil to drop below Rs.2900. We also have the API oil storage forecast overnight and the EIA reports tomorrow which could infuse further volatility in prices.

• Base Metals:-

• Base Metals extended gains with short sellers being wrong footed at every price. Nickel and Lead are the leading performers today gaining over 3 percent each followed by Zinc and Aluminium. LME Copper is higher by 1.68% at $6812.50/ton.
• The relentless rally in Base Metals not only signals a strengthening economy but it also indicates the beginning of a major bull market in the industrial metals. The higher prices driven by expectations of stronger demand from China and US, supply deficits forecasts and a wide range of policy measures to cut down production across global producers have been the key factors supporting prices. We have been cautious on prices for the past 2 days indicating that the market may have overrun its course and should be due for a sharp correction in the near term which should also help keep the bull trend intact. 
• Without the weight of evidence suggesting a reversal, we advise continuing to consider long positions in base metals with tighter stop losses and larger targets on the upside.
  
  The intraday bias continues to remain positive with a cautious stance.

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