Tag Archives: mcx commodity tips

Cheap Gold and Silver prices – the deal of a lifetime?

20 Jul

Eerily, perhaps the worst precious metals market sentiment currently exists that has been observed since the early 1970’s.

mcx gold silverThe gold and silver markets have fallen dramatically in the wake of the FOMC signaling an end to its controversial Quantitative Easing or QE programs. The pricing in of such FedspeakQE taper-talk has also triggered a yield spike in southern Europe that could deepen that region’s existing debt crisis.

Furthermore, sharply rising interest rates have resulted as billions of investors exit perhaps the largest financial bubble ever seen. The end of cheap real estate refinance has finally arrived as mortgage rates are now approaching five percent.

Rising government bond rates mean more money that will increase the chances of stealth inflation. The Fed acting to crush the effects of inflation may even lead to more money printing.

Other background factors

In addition, rising oil prices have been cutting in to already lofty equity valuations, as fallout from the “Black Swan” in the Gulf of Mexico expands. Gasoline prices are already rising.

The public has also been caught largely off guard by embroiling social unrest in various parts of the world. This dissatisfaction is indirectly the result of exporting inflation that is collateral damage from currency depreciation wars.

A dead precious metals mining sector has been cutting off any “perceptual” idea of supply as paper metal prices are now well below the cost of production. New supply matters little for gold. For silver, by the time the sector catches up with demand, there will be no silver left.

Precious metal prices suffer despite bullish fundamentals

Offset by an unprecedented and record breaking surge in physical demand for silver, from silver coins to international demand. Yet, eerily, perhaps the worst precious metals market sentiment currently exists that has been observed since the early 1970’s.

Bullion banks are currently long buyers by every indication, yet they are still maintaining a concentrated short position in the futures market. This could be an intentional effort to suppress physical metal prices by selling paper so that they can accumulate real metal more cheaply.

In short, it is unfathomable how low the precious metals markets are by any measure. Technically, the market could still go lower, but does this change the likelihood that investors have now been presented with what seems to be the precious metal buying opportunity of perhaps multiple lifetimes?

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What will Greet Gold in H2, 2013: India Festival Demand or India Import Curbs?

8 Jul

While one cannot ascertain if gold imports by India would be met with added curbs, the Finance Ministry here is sure to lose sleep over the matter as festivities kick in and Rupee rout continues.

free gold trading tips

The second half of 2013 is marked by festivities in India and thereby enhanced gold demand. From Ramadan to Diwali to Dusserah to Dhanteras, Indians would go on a spiritual and materialistic binge bringing cheers to the markets and dating optimism.

But will that be the case this time around too as Current Account Deficit is still the Guerrilla in the room contributing substantially to Rupee weakness which has fallen to a record 60.22 against Dollar as of writing this. Will there be additional curbs on imports by India government?

A recent Reuters’ report quoting unidentified official suggests that this is unlikely as there are threats of enhanced smuggling activities in gold.

India recently hiked the import duty on gold to 8% and RBI too put in restrictions on import funding by banks.

These measures helped the gold imports by India to come down substantially as latest data say.

“Import of gold and silver is understood to have declined substantially to $2-2.5 billion in June, much below the $8.39 billion imported in May, and over $7 billion in April,” a senior government official said and was quoted by the Indian Express as saying.

June imports of Gold have dipped to a paltry 28 tons when compared to 162 tons in May. Data says that imports of gold to Gujarat, a major consuming centre, dipped to 3.73 tons in June against the 37.61 tons registered in May as per the air cargo complex data.

Trend seasonal

“The physical trend has always been very seasonal,” said Bernard Sin, the head of currency and metal trading at MKS (Switzerland) SA to Bloomberg on gold physical demand.

“Physical players are a different breed. They are always buying on the dip. Physical support will continue to be present and it will definitely trigger interest,” he added.

It has to be noted that while ETF demand has waned considerably, gold physical demand went up substantially in the past months.

While one cannot ascertain if gold imports by India would be met with added curbs, the Finance Ministry here is sure to lose sleep over the matter as festivities kick in and Rupee rout continues.

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Oil price near $95 ahead of US jobs report

7 Jun

Oil rose modestly Friday ahead of the release of a key US jobs report that traders will examine for clues to the health of the US economy.

Benchmark oil for July delivery was up 14 cents to USD 94.90 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract gained USD 1.02 to finish at USD 94.76 a barrel Thursday.

The US Labor Department will release its employment report for May later in the day. A good result is expected, following a drop in jobless claims reported on Thursday.

Oil prices were also being supported by a weaker dollar and a bigger-than-expected drop in crude inventories reported by the US Energy Department and the American Petroleum Institute for the week ending May 31, said Matt Basi at CMC Markets in a commentary.

crude oil tips | natural gas tips

Brent crude, a benchmark for many international oil varieties, rose 17 cents to USD 103.78 a barrel on the ICE Futures exchange in London.

In other energy futures trading on the Nymex:

Wholesale gasoline was steady at USD 2.851 a gallon.

Heating oil added 0.8 cent to USD 2.879 per gallon.

Natural gas dropped 0.8 cent to USD 3.819 per 1,000 cubic feet.

Here are trading tips for crude, nickel, copper & zinc

22 Apr

Renisha Chainani of Edelweiss recommends selling nickel on MCX at Rs 830 per kilogram. “Maintain a stop loss for this trade at Rs 845 per kilogram for a target of Rs 810-800 per kilogram”, Chainani adds.

Ram Pitre of Anand Rathi Commodities advises selling MCX crude at Rs 4,800-4,820 per barrel for a target of Rs 4,760-4,730 per barrel with a stop loss at Rs 4,850 per barrel.

Sumeet Bagadia of Destimoney Commodities advocates buying MCX zinc at Rs 99.50-100 per kilogram levels. Bagadia says, “Keep a stop loss for this trade at Rs 98 per kilogram for an initial target is of Rs 102.50 per kilogram followed by Rs 104 per kilogram”.

Dharmesh Bhatia of Kotak Commodities suggests selling MCX copper on rise up to Rs 379 per kilogram. Place a stop loss for this trade at Rs 383 per kilogram for a target of Rs 371-368 per kilogram.

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Source: http://www.moneycontrol.com/news/commodities/heretrading-tips-for-crude-nickel-copperzinc_856523.html

Comex Gold slips more than 1% as selling pressure continues

18 Apr

US initial jobless claims and continuing jobs claims data are scheduled to be released later today and the outcome may impact the bullion movement slightly.

MUMBAI (Commodity Online): Gold in the international market fell further by more than one percent on persisting selling pressure as investors lost their confidence on health of the global economy.

Investors are withdrawing cash from exchange traded funds (ETFs) there by pulling down gold.

Comex gold futures for June delivery was trading down by 1.41 percent at $1363.25 per troy ounce as of 09.56 AM IST on Thursday.

Gold futures for June delivery on India’s Multi Commodity Exchange (MCX) was trading down by 1% at Rs.25423 per 10 grams as of 10.16 AM IST on Thursday.

Investors are looking for investment other than risk assets after losing confidence on so called ‘safe haven asset’.

“You can see that sentiment is very fragile, very weak. The down trend may not be over and U.S. investors have kept selling over the last two days,” Joyce Liu, an investment analyst at Phillip Futures in Singapore said to Reuters.

“If we continue to see this kind of drop, then maybe the physical buying won’t be sustained because people will think the price is going to go drop further. We may actually see a decrease in physical demand,” Joyce added.

Meanwhile, gold failed to utilize persisting tensions in Korean Pennsylvania and uncertainty over US Federal monetary stimulus.

Other risk assets have also recorded a negative trend as a result of drop in US and European equity market. On Monday, the precious metal recorded its biggest ever daily fall in dollar terms.

US initial jobless claims and continuing jobs claims data are scheduled to be released later today and the outcome may impact the bullion movement slightly.

Silver is also trading negative in the global market. Comex silver for May delivery was down by 0.91 percent at $23.113 per troy ounce as of 10.01 AM IST on Thursday.

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Source: commodityonline

COMMODITY MARKET TRENDS FOR TODAY 11-APRIL

11 Apr

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today commodity tips
GOLD (05 JUNE) TREND: CONSOLIDATE
RES 1 : 30150
RES 2 : 29700
SUPP 1 : 28750
SUPP 2 : 29125STRATEGY: BUY ON DIPS

SILVER (04 MAY) TREND: CONSOLIDATE
RES 1 : 52800
RES 2 : 53250
SUPP 1 : 51120
SUPP 2 : 50400STRATEGY: BUY ON DIPS

CRUDEOIL (19 APR.) TREND: CONSOLIDATE
RES 1 : 5170
RES 2 : 5250
SUPP 1 : 5055
SUPP 2 : 5010STRATEGY: SELL ON RISE

COPPER (30 APR.) TREND: CONSOLIDATE
RES 1 : 416
RES 2 : 420
SUPP 1 : 408
SUPP 2 : 405STRATEGY: BUY ON DIPS

LEAD (30 APR.) TREND: CONSOLIDATE
RES 1 : 115
RES 2 : 116.30
SUPP 1 : 110.40
SUPP 2 : 108STRATEGY: BUY ON DIPS

ZINC (30 APR.) TREND: CONSOLIDATE
RES 1 : 104.80
RES 2 : 105.90
SUPP 1 : 101.20
SUPP 2 : 100.10STRATEGY: BUY ON DIPS

ALUMINUM (30 APR.) TREND: CONSOLIDATE
RES 1 : 105
RES 2 : 106.30
SUPP 1 : 101.40
SUPP 2 : 100.60STRATEGY: BUY ON DIPS

 NICKEL (30 APR.) TREND: CONSOLIDATE
RES 1 : 925
RES 2 : 915
SUPP 1 : 875
SUPP 2 : 844STRATEGY: BUY ON DIPS