Friday, October 21, 2016

Crude oil low as U.S. crude supplies drop in market

On Thursday Crude oil futures closed down in the domestic market after data showed an unexpected weekly drop in U.S. crude supplies & optimism surrounding the Organization of the Petroleum Exporting countries’ plan to limit output lifted prices in New York to their top level since mid-July of last year.

Numerous market spectators aren’t enthused by the deal, saying the group’s longstanding internal tensions will make it difficult for all members to be on board. Even if a deal is struck, it remains a question if the members would follow to the production quotas.

At the MCX, crude oil futures for October 2016 contract closed at Rs 3395 per barrel, downward by 2.22 %, after opening at Rs 3463, against a last close of Rs 3472. It touched the intra-day low of Rs 3385.

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Thursday, October 20, 2016

Silver jumps on firm global signs in market

In the domestic market Silver futures closed high on Wednesday after participants raised their bets amid firming global trends. Analysts attributed the hike in silver prices at futures trade to a firming trend in the precious metals overseas.

At the MCX, silver futures for Dec. 2016 contract closed at Rs 42,200 per kg, upward by 0.06 per cent, after opening at Rs 42,185, against a last close of Rs 42,175. It touched the intra-day high of Rs 42,477.

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Wednesday, October 19, 2016

Yellow Metal up as US dollar eases in market

On Tuesday Gold futures closed high in the domestic market as strength in the British pound helped the U.S. dollar ease back from current multimonth highs.

Signs of a pickup in inflation, which tends to be supportive for gold, also gave the metal a lift.

At the MCX, gold futures for December 2016 contract ended at Rs 29776 per 10 grams, upward by 0.24 %, after opening at Rs 29,750, against a previous close of Rs 29,705. It touched the intra-day higher of Rs 29,840.
Read More- Gold Updates
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