Live Mcx Market News On Crude oil

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Crude oil futures sank more than 1 per cent in the domestic market on Friday as investors and speculators exited positions in the energy commodity tracking weakness in the overseas market as a stronger dollar curbed the lure for the fuel as an alternative asset. Stronger greenback makes dollar-denominated commodities such as oil more expensive for those holding other currencies, thus dimming demand. The dollar rose as a fairly upbeat January jobs report raised speculation of a US Federal Reserve interest rate hike this year.

Oil may rebound today after Saudi Arabia’s Oil Minister Ali al- Naimi said that talks with his Venezuelan counterpart over measures to co-operate and stabilize the oil market, were successful, even as he declined to outline the steps producers needed to take to bolster beaten down prices. 

Best Mcx Ncdex Market News On Chana

Chana prices closed lower by 1.55 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major producing states. At the NCDEX, chana futures for April 2016 contract closed at Rs. 4,181 per quintal, down by 1.55 per cent, after opening at Rs. 4,231 against the previous closing price of Rs. 4,247. It touched the intra-day low of Rs. 4,172. 

India is the largest producer of chickpea followed by Pakistan, Turkey and Iran. India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world production.


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Today'sBest Mcx Market News On Crude Oil

Oil prices dropped early on Monday after China and South Korea posted surprisingly weak economic data and on worries the prospect of a coordinated production cut by leading crude exporters seemed remote. 

Front-month Brent crude was trading at USD 35.54 per barrel at 0157 GMT, down 45 cents, or 1.25 percent, from the last close. US West Texas Intermediate was down 35 cents at USD 33.27 a barrel.

 Activity in China's manufacturing sector contracted at its fastest pace in almost three-and-a-half years in January, missing market expectations.

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Live Mcx Market News On Aluminium

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Aluminium settled down -0.91% at 103.35 snapped a two-day rally and fell from its highest close in three weeks, as market expects Chinese demand to grow at its slowest pace since 1998. Chinese stocks fell for a third day on Thursday as concern slumping commodity prices and a weakening economy will reduce corporate profits overshadowed the biggest cash injection into the financial markets in three years.

Trading Ideas:
Trading Ideas:
Aluminium trading range for the day is 102.1-105.1.
Aluminium dropped as prices seen under pressure from an oversupplied market, mainly because China has been ramping up low-cost capacity.

Best Mcx Ncdex Market News On Crude palm Oil

Crude palm Oil settled flat amid supply worries and on improved demand. Palm oil prices were supported by supply worries after India's palm oil imports for December month fell. India's Crude palm oil imports slipped 29.24% to 778,815 tons in December compared to 551,058 tons in the same period a month ago.

Trading Ideas:
CPO trading range for the day is 431.8-435.2.
Crude palm oil prices settled flat amid supply worries and on improved demand.
Palm oil prices were supported by supply worries after India's palm oil imports for December month fell.
Palm oil prices were also supported as output from Malaysia, the world's second biggest palm producer, is seen declining in the coming months.
Crude palm oil prices in spot market dropped by 1.80 rupees and settled at 433.10 rupees.


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Today's Mcx Market Update On Gold

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Gold rose to the highest level in almost three months in North America trade on Tuesday, as investors awaited the Federal Reserve's policy meeting, due to begin later in the day. 

The Fed is expected to keep interest rate on hold at the conclusion of its two-day policy meeting on Wednesday after raising interest rates for the first time in almost a decade in December. 

Investors were looking to the Fed policy statement for any indication that the bank is considering slowing the path of interest rate increases this year after recent global financial market turmoil.

A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases.

Daily Mcx Market Update On GOLD

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Gold steadied near a 1-1/2-week peak at just below USD 1,100 an ounce early on Monday, with investors eyeing whether equities will come under renewed pressure and refresh safe-haven demand for bullion. 

FUNDAMENTALS 

* Spot gold was little changed at USD 1,098.41 an ounce by 0044 GMT, after gaining around 0.9 percent last week. 

* The precious metal had benefitted from investor aversion towards risky assets that has hit global stocks and crude oil. It peaked at USD 1,109.20 last week, its loftiest since Jan. 8. 

* US gold for February delivery gained 0.2 percent to USD 1,098.50 an ounce.

* Hedge funds and money managers increased their bullish bets in COMEX gold in the week to Jan. 19, and also boosted their bullish bets in silver to the highest in more than two months, US Commodity Futures Trading Commission data showed on Friday.

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Zinc Newa Latest Update

Zinc settled down -1.57% at 100.15 as more equity losses in Shanghai increased concern that demand will slow in China. Industrial metals retreated as Chinese shares extended the world’s worst selloff this year, with data showing the country’s inflation in December stayed at about half of the government’s 2015 target. U.S. retail sales unexpectedly fell in December as unseasonably warm weather undercut sales of winter apparel and cheaper gasoline weighed on receipts at service stations, adding to signs that economic growth braked sharply in the fourth quarter

Trading Ideas:
Zinc trading range for the day is 98.6-102.
Zinc prices dropped as more equity losses in Shanghai increased concern that demand will slow in China.
The US Commerce Department said retail sales slipped 0.1 percent after an upwardly revised 0.4 percent gain in November.
Combined zinc inventories in Shanghai, Tianjin and Guangdong fell 9,900 to 325,200 tonnes this past week, due mainly to growing outward shipments.

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GOLD NEWS TODAY---Gold glitters to hit over 2-mth high on global cues

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Gold prices surged Rs 340 to hit over two-month high of Rs 26,550 per ten grams at the bullion market today, taking positive cues from global market amid pick up in buying by jewellers to meet wedding season demand. 

Silver too recovered and reclaimed the Rs 34,000-mark by rising Rs 220 to Rs 34,015 per kg on increased offtake by industrial units and coin makers. A weaker rupee, which plunged to hit fresh 28-month low of 67.59 against the dollar yesterday that made imports costlier also supported the upside in gold prices.

Gold eases for second day on uptick in risk appetite

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Gold lost more ground on Friday, falling for five out of six sessions as a rebound in oil and equity markets reduced the precious metal's safe haven appeal. Gold has dropped 2.5 percent this week, its biggest weekly decline since early November. 

FUNDAMENTALS 

* Spot gold slid 0.1 percent to USD 1,076.88 an ounce by 0007 GMT while US gold futures gained 0.3 percent to USD 1,076.8. 

*A bounce in global stock markets and oil prices added pressure on precious metals. 

* The metal hit two-month highs at USD 1,112 last week as volatility in Chinese stocks battered appetite for risk, but trading has since fallen as expectations of further US interest rate increases lowers demand for the non-interest-paying asset. 

* The Fed raised rates in December and attention has shifted to how many hikes will follow in 2016.

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Gold edges up after 2-day decline, China concerns support

Spot gold edged higher on Tuesday, snapping two sessions of decline, as concerns over China's economic growth and pressure on stock markets lifted the precious metal.

FUNDAMENTALS

* Spot gold firmed 0.2 percent to $1,095.6 an ounce by 0037 GMT, while U.S. gold futures eased 0.1 percent to $1,095.2.

* China's main stock indexes each dropped more than 5 percent on Monday. Oil prices fell to new 12-year lows, as concerns over China hurt commodity prices broadly.

* Right from the beginning of 2016, markets have been rocked by plunges in Chinese stocks, the yuan's fall and subsequent heavy intervention by the Chinese authorities.

* The chaotic moves have led to worries China's economy may be in for tough time rather than stabilising as some had hoped.

* China is the world's biggest consumer of gold at around 1,000 tonnes a year.

* The yellow metal is often seen as an alternative investment during times of financial uncertainty, although safe-haven rallies tend to be short-lived.


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Natural gas weekly outlook 11-15 January 2016

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Natural gas prices jumped to an 11-week high on Friday, as updated weather forecasting models pointed to freezing temperatures in the U.S. east coast until the end of the month.

 Bullish speculators are betting on the cool winter weather to increase demand for the heating fuel. The heating season from November through March is the peak demand period for U.S. gas consumption. 

On the New York Mercantile Exchange, natural gas for delivery in February surged 9.0 cents, or 3.78%, to close the week at $2.472 per million British thermal units. It earlier rose to $2.495, the most since October 20. 

On Thursday, natural gas rallied 11.5 cents, or 5.07%, after weekly inventory data showed that stockpiles fell more than expected last week.

 The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. fell by 113 billion cubic feet, more than expectations for a decline of 99 billion. That compared with a drawdown of 58 billion cubic feet in the prior week, 116 billion cubic feet in the same week last year, while the five-year average change for the week is a drawdown of 129 billion cubic feet.

Lead gains on drop in inventories

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Lead prices rose by 0.64 per cent on Friday at the domestic markets due to a decline in lead stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. 

LME lead stocks fell by 100 metric tonnes to 191175 metric tonnes as on January 8, 2016. At the MCX, Lead futures, for the January 2016 contract, is trading at Rs 110.90 per kg, up by 0.64 per cent, after opening at Rs 109.90, against a previous close of Rs 110.20. .

It touched an intra-day high of Rs 111.25 till the trading. (At 3.30 PM today). Sentiment improved further due to high demand from battery-makers and other consuming industries at the domestic spot market as well as a srong trend at the global market.

Gold near 7-week high as stocks retreat

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Gold traded near a seven-week high on Thursday as investors channelled money into the safe-haven metal amid a global stock market rout, worries over the Chinese economy and heightened geopolitical tensions. 

FUNDAMENTALS 

* Spot gold had eased 0.1 percent to USD 1,092.90 an ounce by 0043 GMT. But it wasn't far from USD 1,095.30 reached on Wednesday, its highest since Nov. 16. 

* Gold benefited from the risk-averse sentiment in the market, along with other haven assets such as the Japanese yen and US Treasuries. 

* Stocks across the globe fell on Wednesday to their lowest in nearly three months as a move to weaken China's currency fuelled fears about the strength of the world's second largest economy and as Brent crude hit its lowest since 2004. 

* A raft of data releases from China in coming weeks is likely to show activity continuing to slow, adding to global concerns about the country's economic outlook for 2016. 

* The World Bank on Wednesday cut its global economic growth forecast for 2016, saying the weak performance of major emerging market economies will tamp activity overall, as will anaemic showings from developed countries such as the United States. 

* Adding to those worries was North Korea's announcement that it had successfully tested a powerful nuclear bomb on Wednesday. The move drew threats of further sanctions even though the United States and weapons experts voiced doubts the device was as advanced as the isolated nation claimed.

Mideast oil exports unlikely to face disruptions

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Those anticipating a disruption to oil exports amid heightened political tensions between Saudi Arabia and Iran may be disappointed: energy prices are likely to stay weak in the near term, according to a JPMorgan analyst Tuesday.
Oil prices are higher Tuesday in Asian trade after a decline overnight as a slump in global and China equities offset early gains from geopolitical tensions in the Middle East that sparked concerns about supply disruptions.

US WTI light sweet crude is up 0.8 percent at 37.05 a barrel while Brent crude is also 0.8 per cent higher at USD 37.53 a barrel.

Crude oil had jumped earlier Monday as Saudi said it would cut diplomatic relations with Iran after protesters stormed the Saudi embassy in Tehran earlier Sunday, and the country's supreme leader, Ayatollah Ali Khamenei, predicted "divine vengeance" for the Saudi execution of a major Shiite cleric.

Copper Falls prey to Profit-booking

Copper futures were trading tad lower in the domestic market on Wednesday as the sharp surge in prices in the previous session prompted traders, to book profits, in the industrial metal, at existing levels. 

Prices of the metal soared by nearly 3 per cent on Tuesday as reports that Chinese smelters may slash output by a total 200,000 metric tons next quarter to support prices, and speculation of further China stimulus after the People’s Bank of China said that it would "flexibly" use various policy tools to maintain appropriate liquidity, bolstered sentiment. 

China is the world’s biggest consumer of copper, accounting for more than 40 per cent of the metal’s global consumption. At the MCX, Copper futures for February 2016 contract is trading at Rs 316.5 per kg, down by 0.05 per cent after opening at Rs 316.25, against the previous closing price of Rs 316.65. It touched the intra-day low of Rs 315.2.


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Oil prices edge down as slowing demand adds to high output

Crude oil futures came under renewed pressure early on Tuesday as fears of slowing demand added to near-record global production levels, which have already slashed prices by two-thirds since the middle of last year. 

Front-month US West Texas Intermediate (WTI) futures CLc1 were trading at USD 36.75 per barrel at 0105 GMT, down 6 cents from Monday's close.

 The international benchmark Brent LCOc1 was at USD 36.59 per barrel, down 3 cents from their last close and less than a dollar away from 11-year lows reached earlier in December. 

Both contracts are down by two-thirds since prices started tumbling in June 2014. 

While output from exporters like Russia, the Organization of the Petroleum Exporting Countries (OPEC) and US shale drillers has been at or near record highs, demand has so far held up strong, preventing oil prices from falling even lower.


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Brent Crude at 11 Year low as Market Rout Heads into Christmas

Brent crude prices fell on Monday to their lowest since 2004 on renewed worries over a global oil glut, with production around the world remaining at or near record highs and new supplies looming from Iran and the United States. 

Brent futures fell as low as USD 36.32 per barrel in overnight trading around 0000 GMT, the weakest since 2004, before edging back to USD 36.49 per barrel by 0203 GMT.

 US West Texas Intermediate (WTI) futures were down 20 cents at USD 34.53 per barrel and close to last Friday's 2015 lows. 

Both benchmarks are down more than two-thirds since mid-2014 when the rout began.

 Analysts said a strong dollar following last week's US interest rate hike, which makes oil consumption more expensive for countries using different currencies, as well as a renewed increase in US oil rig counts were weighing on crude prices. 

"The US oil rig count bounced back this week, up by 17 (to 541), putting an end to four consecutive weekly declines," Goldman Sachs said.


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