Zinc futures rise on pick-up in demand

Zinc futures were trading higher during the afternoon trade in the domestic market on Thursday as speculators created fresh positions on pick-up in demand from consuming industries at the spot markets. Market analysts attributed the rise in zinc futures to fresh bets created by participants on the back of rising demand at the domestic spot market.

At the MCX, zinc futures for August 2017 contract was trading at Rs 199.20 per kg, up by 0.96 per cent, after opening at Rs 198.80, against a previous close of Rs 197.30. It touched the intra-day high of Rs 199.60. 

 

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MCX Commodity tips free

Crude Oil prices to trade lower

WTI oil prices declined by 0.3 percent yesterday to close at D46.4 per barrel as Reuters estimated that at least 3.65 million barrels per day (bpd) of refining capacity was offline or 19.6 percent of total U.S. capacity after Motiva  shuttered the largest U.S. refinery. Tropical Storm Harvey knocked out several refineries and disrupted fuel production, while a backup in crude supplies pushed U.S. crude oil futures down more than 2.5 percent.

Brent crude, the international benchmark for crude trading, was down 30 cents at $51.70 a barrel by 0825 GMT. U.S. crude fell 25 cents to $46.19.

U.S. crude inventories fell by 5.78 million barrels last week, the API industry group reported on Tuesday, suggesting a gradual tightening of the U.S. oil market. The figures, however, do not reflect the impact from Harvey.

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Gold soars to nine-and-half months high

Gold price maintained gaining streak for the third consecutive trading day to reach its highest price since November 2016 as geopolitical tensions escalated due to a new North Korean missile launch.

Spot gold rose 0.6% to USD 1,316.90 per ounce as of 0314 GMT, after earlier touching its highest since November 9 at USD 1,322.33. Gold gained 1.4% in the previous session in its biggest one-day percentage rise since mid-May.

US gold futures for December delivery were up 0.6% to USD 1,322.80 per ounce.

South Korea and Japan said the missile North Korea launched early on Tuesday landed in Pacific waters east of Hokkaido after flying over the northern Japanese island, in a sharp escalation of tensions on the Korean peninsula.

Geopolitical tensions can boost demand for safe-haven assets such as gold which is considered a good store of value during volatility in other markets.

 

BUY GOLD ABOVE  29800 TGT  29860-30040-30160 SL BELOW 29720 CMP 29800

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Aluminium futures gain 0.38% on spot demand

Aluminium futures were trading higher during the noon trade in the domestic market on Monday as speculators built up fresh positions. Analysts said participants created fresh positions on the back of rise in demand from consuming industries in physical market.

At the MCX, aluminium futures for August 2017 contract is trading at Rs 131.80 per kg, up by 0.38 per cent, after opening at Rs 130.70, against a previous close of Rs 131.30. It touched the intra-day high of Rs 132.10.

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Lead futures rise amid pick-up in demand

Lead futures were trading higher during the afternoon trade in the domestic market on Thursday as participants created fresh positions, taking positive cues from spot market on pick-up in demand. Marketmen said building up of positions by traders backed by upsurge in demand from battery-makers at domestic spot market, supported the upside in lead prices at futures trade.

At the MCX, lead futures for August 2017 contract is trading at Rs 152.40 per kg, up by 0.49 per cent, after opening at Rs 152.20, against a previous close of Rs 151.65. It touched the intra-day high of Rs 152.55. (at 12:02 hours).

SELL ZINC  BELOW 199.50  TGT 198.90 SL ABOVE 200.30SELL ALUMINIUM BELOW 199.30 TGT 132.70 SL ABOVE 134.20

BOOK FULL PROFIT IN ZINC SELL CALL OUR TGT 198.90 IS ACHIEVED(RS+3000/-LOT)

BOOK FULL PROFIT IN ALUMINIUM  SELL CALL OUR TGT 132.70  IS ALMOST ACHIEVED(RS+2750/-LOT), CMP:132.75

BOOK FULL PROFIT IN ALUMINIUM  SELL CALL OUR TGT 132.70  IS  ACHIEVED(RS+3000/-LOT)

BUY COPPER ABOVE 424.20 TGT  426.20-429.20-434.20 SL BELOW  421.20 CMP 423.75

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Zinc futures rise on increasing demand

Zinc futures were trading higher during the afternoon trade in the domestic market on Wednesday as speculators created fresh positions on pick-up in demand from consuming industries at the spot markets.

Market analysts attributed the rise in zinc futures to fresh bets created by participants on the back of rising demand at the domestic spot market.

At the MCX, zinc futures for August 2017 contract was trading at Rs 200 per kg, up by 0.20 per cent, after opening at Rs 201.70, against a previous close of Rs 199.60. It touched the intra-day high of Rs 200.50.

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Gold trades little changed as investors focus on geopolitics, central bank meet

Gold edged 0.1 percent higher at $1,285.91 an ounce by 0406 GMT, while U.S. gold futures for December delivery were flat at $1,291.20 per ounce.
The metal surged to its highest since November on Friday when political and security concerns in the United States and Spain jangled investors' nerves and stoked deman.
Asian stocks and the dollar were little changed on Monday.
Gold is highly sensitive to rising U.S. interest rates, as higher rates increase the opportunity cost of holding non-yielding bullion.
Spot gold may retrace towards a support at $1,271 per ounce, as it failed to break a resistance at $1,291.
Among other precious metals, silver was unchanged at $16.93 an ounce, while platinum slipped 0.2 percent to $972.70 an ounce.

 

 

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Gold slips from nine-month high as dollar retreats

Gold prices slipped from nine-month high prices as dollar retreated on the back of political uncertainty in the US and a suspected terrorist attack in Spain aided the bullion prices.

Spot gold, was trading flat at 1,288.06 per ounce on Friday, earlier in the day it had touched its highest since November 9 at USD 1,300.80 per ounce.

US gold futures for December delivery settled down at USD 1,291.60 per ounce.

The Spanish government launched an extensive anti-terrorism operation on Friday, after a van mowed through a crowd of tourists in Barcelona, killing at least 13 people on Thursday.

Oil prices soar as dollar weakens

Oil prices soared on Friday’s trade as the dollar weakened. US crude futures remained on track to close the week down as investors remained worried about the global oil glut.

WTI crude futures for September delivery settled up 3.02%, or USD 1.42, to USD 48.51 per barrel.

Investors also digested rig count data from Baker Hughes which showed that US rigs fell by five to 763.