Gold Market News Update

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Gold was little changed above USD 1,230 an ounce on Friday as safe-haven gains were capped by an overnight rebound in global equities and oil prices, although technical signals for prices were bullish. 

FUNDAMENTALS
*Spot gold was steady at USD 1,235.38 an ounce by 0043 GMT, after posting a small 0.4 percent gain in the previous session. *Global equity markets got a boost from an upturn in crude oil on Thursday as the market focused on an upcoming meeting of major oil producers that investors hope could stabilize volatile petroleum markets.

MARKET NEWS 

*The yen was broadly softer early on Friday as demand for the safe-haven currency waned after a rebound in oil prices helped spur a rally on Wall Street.

Natural Gas Latest News Updates By MarketMagnify

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Natural Gas futures extended a slide in the domestic and international market on Wednesday as investors resorted to a cautious approach ahead of the weekly US supplies data which may signal the state of the demand for the fuel in the world’s biggest gas consuming nation. 

US gas supplies probably fell by 125 billion cubic feet in the week ended February 19, 2016, compared to 158 billion cubic feet in the prior week, 220 billion cubic feet in the same week a year ago and a five-year average draw of around 137 billion cubic feet. 

At the MCX, Natural Gas futures for February 2016 contract closed at Rs 121.9 per mmBtu, down by 0.65 per cent, after opening at Rs 122.4, against the previous closing price of Rs 122.7. It touched an intra-day low of 120.7.

Ncdex Mentha oil Latest News Update By MarketMagnify

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Mentha oil settled up by 1.01% at 941.9 rising demand at the spot market following restricted arrivals from producing belts of Chandausi in Uttar Pradesh. Investors are flocking to mentha oil in anticipation of an increase in prices owing to a 36% fall in production this year.

Trading Ideas:
Menthaoil trading range for the day is 914.5-959.1.
Mentha oil spot at Sambhal closed at 1057.00 per 1kg. Spot prices is down by Rs.-1.10/-.
Mentha oil prices ended with gains rising demand at the spot market following restricted arrivals from producing belts of Chandausi in Uttar Pradesh.

Maize Ncdex News Update

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Maize prices ended lower by 0.8 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of heavy selling activity by the traders on account of higher global supplies and weak offtakes from the local buyers. 

At the NCDEX, maize futures for March 2016 contract closed at Rs. 1,360 per quintal, down by 0.8 per cent, after opening at Rs. 1,365 against the previous closing price of Rs. 1,371. It touched the intra-day low of Rs. 1,347. 

Ncdex Sugar Latest News Update

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Sugar Futures on NCDEX closed lower yesterday on reports of slowdown in exports from the country. Sugar Mar futures closed lower by 0.32% at Rs. 3,140/quintal. Sugar mills from the country may find it difficult to meet the mandatory export targets set by the Centre due to a fall in international prices. 

The sugar mills have contracted to export 900,000 tonne of the sweetener so far in the 2015-16 marketing season. Out of the contracted quantity, mills have dispatched nearly 700,000 tonne. In Maharashtra, top sugar producing state, the area under sugarcane cultivation expected to decline 25% during the 2016-17 season in due to drought. 

Best Mcx Market News On Gold

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Gold stretched its losses into a third session and tumbled below $1,200 an ounce on Tuesday, as easing concerns over the global economy buoyed stocks and hurt safe-haven demand for the metal.

Bullion's three-day loss of more than 4 percent, its biggest such drop in seven months, takes the precious metal further away from a one-year high reached last week and threatens to undo a rally that has seen prices gain 13 percent so far this year.

Spot gold fell 1.5 percent to $1,191.40 an ounce by 0415 GMT, after earlier hitting a session low of $1,190.40. The metal slid 2.3 percent on Monday, its biggest slump since July.

Ncdex Jeera Latest News Update By MarketMagnify

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Jeera prices closed higher by 3.56per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions. 

At the NCDEX, jeera futures for March 2016 contract closed at Rs. 15,000 per quintal, up by 3.56 per cent, after opening at Rs. 14,530 against the previous closing price of Rs. 14,485. It touched the intra-day high of Rs. 15,060. 

Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year. 

Mcx Gold Silver Market Trend & News Update

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Gold:-Spot gold prices jumped by 5.5 percent to close at $1237.7 per ounce. Prices rose to a one-year high, on track for its biggest daily jump in more than seven years as financial uncertainty, a lower dollar and tumbling stock prices around the world prompted investors to seek refuge in bullion.
The U.S. dollar tumbled to a nearly fourmonth low against a basket of major currencies, further supporting bullion prices.

Silver:-Last week, Spot silver prices surged by around 5 percent to close at $15.7 per ounce . Silver prices rose in tandem with rise in gold prices .Weakness in the dollar index supported the rise in silver prices.

On the MCX, silver prices rose by 6.1 percent to close at Rs.37984 per kg.