Saturday, 29 September 2012

Follow the Commodity News for 29th sept.

Gold importers in India, the world's biggest consumer, stepped up purchases in small quantities ahead of major festivals as prices hovered near their lowest in three weeks, weighed by a stronger rupee.
           At 0842 GMT, the most-active gold for October delivery on the Multi Commodity Exchange (MCX) was 0.36 percent down at 31,236 rupees per 10 grams, after hitting a low of 31,218 rupees, nearing a level last seen in early September.
          Gold prices have fallen due to the sharp appreciation in the rupee, which was near a five-month high. The rupee plays an important role in determining the landed cost of the dollar-quoted yellow metal.
Falling for the third day in a row, gold shed Rs 50 to Rs 31,800 per 10 grams in the bullion market here today on sluggish demand at existing high levels.

Silver, on the other hand, found fresh buying support from industrial units and rose by Rs 650 to Rs 61,250 per kg.

 Oil prices were firmer above $113 on Friday as plans for economic reform in Spain temporarily eased investor concerns about Europe's debt crisis, while heightened tensions between Israel and Iran also provided support.

Improved market sentiment helped lift Asian and European stock markets, base metals and gold after Spain announced a crisis budget for 2013 based mostly on spending cuts.

Thursday, 27 September 2012

Weekly Commodity News : from 24-28 sept.

MCX GOLD Technical Trend
     MCX GOLD on its weekly chart forms an upward channel pattern and last week gave closing below the upper band of channel, now some correction is expected below 31450 and may find next support around 31150. On other hand if it gives closing above 31750 than this bull rally continuous and may break resistance level of 32100 above this we expect it makes new highs.

Better strategy in the MCX GOLD is to sell below 31450. For the target of 31100, with stop loss of 31850.

MCX SILVER Technical Trend
      MCX SILVER last week showed sideways movement and consolidated around the upper band of channel. Now 62500 is act as strong support for it below this it is weak towards level of 61400-60500. On higher level 64850 is act as resistance for it if able to break this resistance than it may find next resistance around level of 65750-67000.

    Better strategy in the MCX SILVER at this point of time is to buy above 64850. For the target of 65750-67500, with stop loss of 62500.

MCX CRUDEOIL Technical Trend
     Crude  oil last week broke upward channel pattern and showed downward trend now 4950 is act as strong support for it below this it may find next support around level of 4820. On higher level 5060 is act as resistance for it only above this some correction is expected towards level of 5180.

      Better strategy in MCX CRUDEOIL is to sell on highs, for the targets of 4820.  With stop loss of 5120.

MCX Copper Technical Trend
     MCX Copper last week broke strong support of 448 and gaves closing below this now if it break level of 445 which is its 38.2% retracement than it may find next support around 50% retracement i.e. around 440 below this it is too weak. On other hand correction is expected only above 452.50.

     Better strategy in the MCX COPPER will be sell below 445, with the stop loss of 456 for the targets of 436.

Today's Commodity Updates 27th sept.

Gold importers in India, the world's biggest buyer, stayed away from fresh deals for a second straight day as prices recovered partly from their lowest level in more than two weeks due to a weaker rupee, offseting slightly weaker global markets.
       Gold declined by Rs 10 to Rs 32,100 per 10 grams in the bullion market here today, while silver lost Rs 100 to Rs 60,600 per kg on poor offtake amid a weak global trend.
      Traders said sluggish demand at prevailing higher levels amid a weak trend in overseas market led to a decline in prices of both the precious metals.

Silver ready declined by Rs 100 to Rs 60,600 per kg and weekly-based delivery by Rs 135 to Rs 62,450 per kg. The white metal had climbed by Rs 300 in the previous session.
    Silver coins remained steady at Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.









Wednesday, 26 September 2012

Today Commodity trading tips,26 sept.

MCX NCDEX tips, Free Commodity tips, Copper update, Gold Silver tips, NCDEX tips, Today trading tips. Today Commodity market news, in the international market came despite weakness in the domestic market is seeing strong in gold and silver. Continues increasing decline in rupee against the dollar in the domestic market has support in gold and silver. COMEX gold is 0.20 and silver slipped 0.1 per cent.

Silver has makes the next favorite metals for analysts. Indian market awaited festival season has already begun. The festival silver demand is going to rise. Silver is touching prices almost 75,000 per Kg in last year. With current range for silver being Rs 60,000 to 62,000 per Kg, Silver is expected to move within the range of Rs. 58,000- Rs. 72,000 per kg till Diwali.

MCX NCDEX trading tips
Gold Oct BUY above 31300 targets 31350-31450 Stop loss 31200
Silver Dec BUY above 61800 targets 62000-64000 stop loss 61600
Natural gas Oct BUY above 166 targets 169-172 stop loss 163

26th Sept. Today's Update for Bullions, Base-Metals and Energy .

•  Bullions
 Gold futures held onto modest gains Tuesday following reports of increased bullion purchases by central banks. The central banks of Turkey, Russia, South Korea and Kazakhstan increased their gold reserves in July. The latest IMF data showed South Korea increased its holdings of gold by nearly 16 tonnes in July, along with Paraguay, which raised its reserves in July from a few thousand ounces to more than 8 tonnes, continuing the trend among central banks to hold more bullion. U.S. home prices rose for a sixth straight month in July in the latest sign of a sustainable housing market recovery, while a jump in consumer confidence this month offered a harbinger that Americans are ready to loosen their spending. Protesters clashed with police in Spain's capital on Tuesday as the government prepares a new round of unpopular austerity measures for the 2013 budget to be announced on Thursday.

•  Base—Metals 
Copper rose yesterday, recovering nearly prior day's losses, after a double dose of positive economic data in the United States bolstered investor appetite for risk. Data later in the day showing U.S. consumer confidence jumped to its highest level in seven months in September as Americans were more optimistic about the job market and income prospects supported the move higher. Also supporting prices, was Monday's news that China's Yunnan province will stockpile 300,000 tonnes of industrial metals, including aluminum, copper and zinc, from local producers under a plan that will also help smelters  secure  more  bank  loans.  The  positive  tone  spread  across  the  wider  base  metals  complex,  with  London  Metal  Exchange  (LME) lead futures ending the day at a near eight-month high and nickel touching a five-month peak.

•  Energy
 Nymex crude-oil futures fell amid concerns over weak demand and rising inventories. U.S. oil inventory data due today are expected to show a 1.6-million-barrel rise in crude-oil stocks, a one-million-barrel gain in stocks of distillates such as diesel fuel and heating oil and a 300,000-barrel-rise in gasoline stocks. Saudi Arabia and its Gulf allies want to see Brent prices drop to $100 a barrel, a more-comfortable level for the ailing global economy. Their higher output is battling against worries about the potential for disruptions in supplies from the world's oil patch as rhetoric over Iran's nuclear program increases.









Tuesday, 25 September 2012

Tips for Today

Go for Sell in MCX Gold around 31400 levels with a stop loss placed above 31750 levels for targets of 30960 and 30620 levels.

Go For sell in MCX Silver around 62450 levels with a stop loss placed above 63100 levels for targets of 61350 and 60130 levels.

MCX Crude Oil Live Updates:- MCX Crude oil is trading on the downside in the domestic commodity market MCX. NYMEX crude oil prices on the international market has fallen to $ 92. Brent Crude oil is also seeing a selling pressure which in turn has impacted the crude oil in the domestic market. Live price of MCX Crude oil is 4900.

International market is falling strongly in gold and silver. At Comex gold dropped by around .70 percent and Currently trading at around $1755 at Comex while the silver faced the same amount of fall and is at $34 per ounce. Gold in the domestic market (MCX) on Monday closed at 31798 after a drop of 0.26 percent.

"Overall commodity market trend for 25th sept" by Merits

As the Gold price was on the one hand boosted by more central bank stimulus actions around the world and on the other hand it got hampered by weaker economic data out of Europe, China and Japan which caused the US dollar to strengthen.

Crude oil continues to decline, even with additional stimulus offered by the Bank of Japan last week. Earlier Crude oil rose after the announcement only to decline again. Falling global production and manufacturing continues to plague the economies around the world

MCX Gold is in bullish trend and consolidating around higher levels. For the coming week 32,500 will act as a major resistance level and 31,180 will act as a major support level in MCX Gold Oct. futures. Last week MCX Gold Oct futures remained sideways but on Friday, we saw profit booking in it. For the next week traders can use buy on lower level strategy, if MCX Gold October futures sustains above 31,400 then  it could test the levels 32,100 / 32,450 with strict SL of 31,200.``

MCX Silver is also bullish on the charts and consolidating around higher levels. For the coming week 66,600 is the major resistance levels whereas 61,900 is major support in MCX Silver Dec. futures.  Last week a MCX Silver Dec. future was sideways around higher levels. For the next week traders can use buy on lower level strategy, if Silver Dec. futures sustains above 64,850 then it could test the levels of 65,700/ 66,400,`` it said while commenting on silver outlook.

MCX Copper futures is bullish but last week it was unable to sustain at higher levels and in last 2 days of the week, we saw profit booking in it. For the coming week 439 and 433 will act as major supports whereas 455 and 463 will act as major resistances in MCX Copper Nov. futures. For the next week in MCX Copper, traders can use sell on higher level strategy and if it sustains below the level of 445 then it could test  the levels of 439 / 433

Monday, 24 September 2012

Commodity Trading Tips For 24 Sept.

On 24th sept. – International markets weakness and strong Rupee against Dollar has also put pressure on Gold – Silver as well as on Crude Oil prices.Recovery to start in stock markets (from 12.30 HRS IST which should continue till 20.45 HRS IST). Again a downward trend is expected from 20.45 to continue till 25-26th September. Again recovery to start from lower level from 27th September.
         Bull run to start from 28th September 2012. Next week is going to be very bullish. Tonight, you must short S&P, EUR/USD (for next 2 days). Weekly trading Range of global indices.
         Rupee against Dollar is trading at 53.23. COMEX Gold around 1% Silver about 2% are weak. NYMEX Crude Oil slipped 0.5% and is trading at $ 92.25. LME Copper declined by 0.5%.

Copper Updates Today :- MCX Copper opened down by Rs. 2.5 per kg, at Rs. 442 per kg. Copper supports for the contract are at Rs. 440 and Rs. 438 per kg. Resistance for the contract are at Rs. 444 and 446 per kg.

MCX Gold Updates :- Gold prices witnessed a sell off after breaking the range below 31750 and closed at 31506. We expect a bounce back till 31650 to 31720 whereby prices are expected to witness selling pressure. With appreciation in INR we expect prices to test 31200 -31100 on lower end. Support - 31200 31330 31450 Resistance - 31630 31720 31800.

MCX Silver Updates :- Silver prices are expected to open gap down, we expected prices to test 62000 -61800 on lower end. For intraday if holds 62000 -61800 one can buy with a strict stop loss below 61700. Support - 61800 62500 63200 Resistance - 63500 64000 64450.

Friday, 21 September 2012

Commodity Market In India

 What is Commodity : A short description.
     A physical substance such as food, grains, and metals, which is interchangeable with another product of the same type, and which investors buy or sell, usually through future contracts. The price of the commodity is subject to supply and demand. Risk is actually the reason exchange trading of the basic agricultural products began.
How It Works:
      More generally, a product which trades on a commodity exchange, this would also include foreign currencies and financial instruments and indexes. The world of commodities is complex, fascinating, and has a profound effect on economies and consumers around the world.

To be considered a commodity, an item must satisfy three conditions:
-- It must be standardized (for agricultural and industrial commodities it must be in a "raw" state).
-- It must be usable (i.e., have a shelf life) upon delivery.
-- Its price must vary enough to justify creating a market for the item.

Trading of Commodity:
       Buyers and sellers can trade a commodity either in the spot market (sometimes called the cash market), whereby the buyer and seller immediately complete their transaction based on current prices, or in the futures market.
               Most buyers and sellers trade commodities on the futures markets because many commodity producers -- particularly those of traditional commodities like grain -- bear the risk of potentially negative price changes when their products are finally ready for the market. Futures contracts, whereby the buyer purchases the obligations to receive a specific quantity of the commodity at a specific date and at a specific price, therefore offer some price stability to commodity producers and commodity users.

Regulation :
       In the year 2003, the Indian Government approved the establishment plan of four commodity exchanges of national level. These national commodity exchanges would operate futures trading contracts for multiple commodities. The Indian Government has included more commodities in the list of permitted commodities, constructed under the Forward Contracts (Regulation) Act.     
           Earlier there was a rule that every spot market transaction has to be completed within 11 days. In order to promote commodity trading, the Government of India has removed this restriction. Indian Government has removed NTSD (Non-Transferable Specific Delivery Contract) option from the Forward Contracts (Regulation) Act.
Commodities Exchanges in India:
      There are three large major national commodity exchanges in India, apart from this there are 18 domestic commodity exchanges.
The 3 major national commodity exchanges are:
·         National Commodity and Derivatives Exchange Limited.
·         Multi Commodity Exchange of India Ltd.
·         National Multi Commodity Exchange of India Ltd.
National Commodity and Derivatives Exchange Limited – NCDEX . Essentially, NCDEX, located in Mumbai, is a public limited company, which was incorporated on 23rd April 23 2003. This was done under the Companies Act, 1956. On 9th May 2003, it was given its Certificate for Commencement of Business, and it started its business operations on 15th December 2003.
This exchange is regulated by the Forward Market Commission with regards to the futures trading in commodities. NCDEX is also subjected to certain laws of the country that include:
·         Companies Act.
·         Stamp Act.
·         Contracts Act.
·         Forward Commission (Regulation) Act
Why It Matters:
      Commodities are the raw materials used by virtually everyone. The orange juice on your breakfast table, the gas in your car, the meat on your dinner plate, and the cotton in your shirt all probably interacted with a commodities exchange at one point. Commodities exchange participants set or at least influence the prices of many goods used by companies and individuals around the globe. Changes in commodity prices can affect entire segments of an economy , and these changes can in turn spur political action (in the form of subsidies, tax changes, or other policy shifts) and social action (in the form of substitution, innovation, or other supply-and-demand activity).
      In general, however, the liquidity and stability of the commodities exchanges helps producers, manufacturers, other companies, and even entire economies operate more efficiently and more competitively.