Friday, September 23, 2016

Gold loses sheen on global cues today

Gold futures were trading low during the morning trade in the domestic market on Friday as investors and speculators trimmed their positions in the precious metal in the domestic markets tracking a weak trend overseas.
Further, a weak trend in overseas markets, profit-booking by traders too influenced gold prices at futures in the domestic markets.

At the MCX, gold futures for October 2016 contract is trading at Rs 31,217 per 10 grams, downward by 0.37 %, after opening at Rs 31,242, against an earlier close of Rs 31,332. It touched the intra-day low of Rs 31,215.

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Thursday, September 22, 2016

Today Gold rises on Fed decision in demand

Gold futures were trading high during the morning trade in the domestic market on Thursday as investors & speculators build up fresh positions in the precious metal after the August US Fed meeting on Wednesday in which it kept key rates unchanged.

The US central bank hold interest rates unchanged at 0.25 % to 0.50 %. On the other hand, the Bank of Japan had adopted a target for long-term interest rates in its meeting on Wednesday.

At the MCX, gold futures for October 2016 bond is trading at Rs 31,283 per 10 grams, up by 0.25 %, after opening at Rs 31,250, against a previous close of Rs 31,205. It touched the intra-day high of Rs 31,284.

Read More- Gold Updates
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Wednesday, September 21, 2016

Fed meet: Today Oil prices up ahead of US stockpiles data

Oil prices up in Asia today as traders wait for the release of US energy stockpiles data and a US central bank decision on interest rates. 

During two years the first crude shipment from Libya had no immediate impact on prices a week before OPEC producers & Russia meeting in Algeria to discuss modes to stabilise prices.

At around 0240 GMT, the US benchmark West Texas Intermediary for November delivery, a new contract, was 77 cents high at USD 44.82 & Brent for November was up 59 cents at USD 46.47.
On Tuesday an oil tanker left the Libyan port of Ras Lanouf for Italy, in the first shipment for late 2014 when fighting erupted over control of the "oil crescent", an official said in Tripoli.

Most analysts, though, expect officials to keep borrowing costs at ongoing levels.
We expect the (policy board) to keep rates stable this meet, Singapore's United Overseas Bank said in a note.

Read More-  Crude Oil Updates

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