Wednesday, April 30, 2014
Gold jewellery exports in FY14 fell almost 40 percent
11:58 AM
alphaadvisory
India exported USD 992.03 million worth of gold jewellery in March, up 6.09 percent on the year, the Gems and Jewellery Export Promotion Council (GJEPC) said.
Gold jewellery exports from India, the world's second-biggest consumer of the metal, fell 39.63 percent to USD 7.86 billion in the year to March 2014, an industry body said on Tuesday. India exported USD 992.03 million worth of gold jewellery in March, up 6.09 percent on the year, the Gems and Jewellery Export Promotion Council (GJEPC) said.
Gold jewellery exports from India, the world's second-biggest consumer of the metal, fell 39.63 percent to USD 7.86 billion in the year to March 2014, an industry body said on Tuesday. India exported USD 992.03 million worth of gold jewellery in March, up 6.09 percent on the year, the Gems and Jewellery Export Promotion Council (GJEPC) said.
MCX Goldm June contract declines
11:57 AM
alphaadvisory
Goldm prices on MCX were trading lower on Wednesday. MCX Goldm June contract was trading at Rs 28870 down Rs 104, or 0.36 percent.
At 10:55 hrs MCX GOLDM May contract was trading at Rs 29633 down Rs 80, or 0.27 percent. The GOLDM rate touched an intraday high of Rs 29720 and an intraday low of Rs 29571. So far 767 contracts have been traded. GOLDM prices have moved up Rs 1068, or 3.74 percent in the May series so far. MCX GOLDM June contract was trading at Rs 28870 down Rs 104, or 0.36 percent. The GOLDM rate touched an intraday high of Rs 28967 and an intraday low of Rs 28865. So far 896 contracts have been traded. GOLDM prices have moved down Rs 730, or 2.47 percent in the June series so far. MCX GOLDM July contract was trading at Rs 28570 down Rs 87, or 0.30 percent. The GOLDM rate touched an intraday high of Rs 28637 and an intraday low of Rs 28567. So far 65 contracts have been traded. GOLDM prices have moved up Rs 220, or 0.78 percent in the July series so far.
At 10:55 hrs MCX GOLDM May contract was trading at Rs 29633 down Rs 80, or 0.27 percent. The GOLDM rate touched an intraday high of Rs 29720 and an intraday low of Rs 29571. So far 767 contracts have been traded. GOLDM prices have moved up Rs 1068, or 3.74 percent in the May series so far. MCX GOLDM June contract was trading at Rs 28870 down Rs 104, or 0.36 percent. The GOLDM rate touched an intraday high of Rs 28967 and an intraday low of Rs 28865. So far 896 contracts have been traded. GOLDM prices have moved down Rs 730, or 2.47 percent in the June series so far. MCX GOLDM July contract was trading at Rs 28570 down Rs 87, or 0.30 percent. The GOLDM rate touched an intraday high of Rs 28637 and an intraday low of Rs 28567. So far 65 contracts have been traded. GOLDM prices have moved up Rs 220, or 0.78 percent in the July series so far.
MCX Silver September contract trades lower
11:56 AM
alphaadvisory
Silver prices on MCX slipped nearly 0.5 percent on Wednesday. MCX Silver September contract was trading at Rs 43400 down Rs 186, or 0.43 percent.
At 10:56 hrs MCX SILVER May contract was trading at Rs 41755 down Rs 207, or 0.49 percent. The SILVER rate touched an intraday high of Rs 41889 and an intraday low of Rs 41751. So far 1811 contracts have been traded. SILVER prices have moved down Rs 1296, or 3.01 percent in the May series so far. MCX SILVER July contract was trading at Rs 42527 down Rs 166, or 0.39 percent. The SILVER rate touched an intraday high of Rs 42609 and an intraday low of Rs 42510. So far 1011 contracts have been traded. SILVER prices have moved down Rs 10896, or 20.40 percent in the July series so far. MCX SILVER September contract was trading at Rs 43400 down Rs 186, or 0.43 percent. The SILVER rate touched an intraday high of Rs 43482 and an intraday low of Rs 43396. So far 10 contracts have been traded. SILVER prices have moved down Rs 3600, or 7.66 percent in the September series so far.
At 10:56 hrs MCX SILVER May contract was trading at Rs 41755 down Rs 207, or 0.49 percent. The SILVER rate touched an intraday high of Rs 41889 and an intraday low of Rs 41751. So far 1811 contracts have been traded. SILVER prices have moved down Rs 1296, or 3.01 percent in the May series so far. MCX SILVER July contract was trading at Rs 42527 down Rs 166, or 0.39 percent. The SILVER rate touched an intraday high of Rs 42609 and an intraday low of Rs 42510. So far 1011 contracts have been traded. SILVER prices have moved down Rs 10896, or 20.40 percent in the July series so far. MCX SILVER September contract was trading at Rs 43400 down Rs 186, or 0.43 percent. The SILVER rate touched an intraday high of Rs 43482 and an intraday low of Rs 43396. So far 10 contracts have been traded. SILVER prices have moved down Rs 3600, or 7.66 percent in the September series so far.
Brent slips to $108.50 on stock build, fall in US crude
11:24 AM
alphaadvisory
Brent crude for June delivery fell 27 cents to USD 108.71 per barrel by 0420 GMT after climbing 86 cents to USD 108.98 in the previous session.
brent slipped towards USD 108.50 a barrel on Wednesday, dragged down by a near USD 1 drop in US crude as inventories in the United States were expected to hit the highest level on record. A Reuters poll of analysts revealed expectations that US crude stocks rose 2.4 million barrels to 400 million barrels last week, the highest level since the US Energy Information Administration started collecting data in 1982. The poll was taken ahead of the EIA weekly inventory data due out later on Wednesday. Brent crude for June delivery fell 27 cents to USD 108.71 per barrel by 0420 GMT after climbing 86 cents to USD 108.98 in the previous session. June US crude dropped 80 cents to USD 100.48 per barrel after falling by as much as 93 cents in early trade on Wednesday. This reversed Tuesday's gain when US crude rose 44 cents to close at USD 101.28 per barrel. The fall in Brent was "100 percent" due to the drop in US crude, said Jonathan Barratt, chief executive of Sydney based commodity research firm Barratt Bulletin. And while Libyan exports are starting to come back, the supply situation from the North African nation is far from clear, he said. "I think Brent will come under pressure from Libya," Barratt said, but added Libyan oil exports would have to be sustained without disruptions before there was an impact on Brent prices. A second tanker is due to load oil at Libya's eastern Hariga port after it reopened under a deal between the government and rebels, an oil official said on Tuesday. Zueitina port has also reopened but two others remain closed. Data from industry group the American Petroleum Institute on Tuesday showed that US oil inventories rose 3 million barrels last week, higher than the increase of 2.4 million barrels forecast by analysts. The EIA data, however, is the industry standard that is watched more closely. The European Union on Tuesday imposed further sanctions on Russia over the Ukraine crisis, freezing assets and issuing new visa bans on Russian officials and Ukrainian rebel leaders, as Russian President Vladimir Putin ruled out counter sanctions. "It's extremely unlikely sanctions will extend into the crude oil markets. Europe wants oil and Russia wants cash," said Mike Keenan, head of commodities research at Societe Generale in Singapore. Investors were also watching developments over Iran after the US targeted a Chinese businessman and a Dubai-based entity for alleged offences related to violations of sanctions.
brent slipped towards USD 108.50 a barrel on Wednesday, dragged down by a near USD 1 drop in US crude as inventories in the United States were expected to hit the highest level on record. A Reuters poll of analysts revealed expectations that US crude stocks rose 2.4 million barrels to 400 million barrels last week, the highest level since the US Energy Information Administration started collecting data in 1982. The poll was taken ahead of the EIA weekly inventory data due out later on Wednesday. Brent crude for June delivery fell 27 cents to USD 108.71 per barrel by 0420 GMT after climbing 86 cents to USD 108.98 in the previous session. June US crude dropped 80 cents to USD 100.48 per barrel after falling by as much as 93 cents in early trade on Wednesday. This reversed Tuesday's gain when US crude rose 44 cents to close at USD 101.28 per barrel. The fall in Brent was "100 percent" due to the drop in US crude, said Jonathan Barratt, chief executive of Sydney based commodity research firm Barratt Bulletin. And while Libyan exports are starting to come back, the supply situation from the North African nation is far from clear, he said. "I think Brent will come under pressure from Libya," Barratt said, but added Libyan oil exports would have to be sustained without disruptions before there was an impact on Brent prices. A second tanker is due to load oil at Libya's eastern Hariga port after it reopened under a deal between the government and rebels, an oil official said on Tuesday. Zueitina port has also reopened but two others remain closed. Data from industry group the American Petroleum Institute on Tuesday showed that US oil inventories rose 3 million barrels last week, higher than the increase of 2.4 million barrels forecast by analysts. The EIA data, however, is the industry standard that is watched more closely. The European Union on Tuesday imposed further sanctions on Russia over the Ukraine crisis, freezing assets and issuing new visa bans on Russian officials and Ukrainian rebel leaders, as Russian President Vladimir Putin ruled out counter sanctions. "It's extremely unlikely sanctions will extend into the crude oil markets. Europe wants oil and Russia wants cash," said Mike Keenan, head of commodities research at Societe Generale in Singapore. Investors were also watching developments over Iran after the US targeted a Chinese businessman and a Dubai-based entity for alleged offences related to violations of sanctions.
Gold edges lower as investors await Fed, US data
10:16 AM
alphaadvisory
"The combination of the FOMC and the economic releases occurring on the same day may cause gold volatility to pick-up in the near-term and may put to test the recent tight USD 30 price range of between USD 1,280-1,310," HSBC analysts said in a note.
Gold edged lower on Wednesday as investors nervously awaited a policy statement by the U.S. Federal Reserve and fresh economic data, with political tensions in Ukraine failing to prompt heavy safe-haven bids. The Fed will make a statement later on Wednesday at the end of its two-day policy meeting, with markets watching for the US central bank's stance on tighter monetary policy. Data on private sector hiring and GDP growth is also expected. Spot gold fell 0.2 percent to USD 1,293.21 an ounce by 0337 GMT, after closing flat in the previous session. "The combination of the FOMC and the economic releases occurring on the same day may cause gold volatility to pick-up in the near-term and may put to test the recent tight USD 30 price range of between USD 1,280-1,310," HSBC analysts said in a note.
Gold edged lower on Wednesday as investors nervously awaited a policy statement by the U.S. Federal Reserve and fresh economic data, with political tensions in Ukraine failing to prompt heavy safe-haven bids. The Fed will make a statement later on Wednesday at the end of its two-day policy meeting, with markets watching for the US central bank's stance on tighter monetary policy. Data on private sector hiring and GDP growth is also expected. Spot gold fell 0.2 percent to USD 1,293.21 an ounce by 0337 GMT, after closing flat in the previous session. "The combination of the FOMC and the economic releases occurring on the same day may cause gold volatility to pick-up in the near-term and may put to test the recent tight USD 30 price range of between USD 1,280-1,310," HSBC analysts said in a note.
Tuesday, April 29, 2014
Silverm prices slip 28% in June series so far
7:06 PM
alphaadvisory
Silverm prices on MCX slipped. MCX Silverm June contract was trading at Rs 42671 down Rs 597, or 1.38 percent.
at 16:04 hrs MCX SILVERM April contract was trading at Rs 41909 down Rs 570, or 1.34 percent. The SILVERM rate touched an intraday high of Rs 42375 and an intraday low of Rs 41854. So far 13646 contracts have been traded. SILVERM prices have moved down Rs 1091, or 2.54 percent in the April series so far. MCX SILVERM June contract was trading at Rs 42671 down Rs 597, or 1.38 percent. The SILVERM rate touched an intraday high of Rs 43221 and an intraday low of Rs 42635. So far 8258 contracts have been traded. SILVERM prices have moved down Rs 16828, or 28.28 percent in the June series so far. MCX SILVERM August contract was trading at Rs 43572 down Rs 558, or 1.26 percent. The SILVERM rate touched an intraday high of Rs 44020 and an intraday low of Rs 43521. So far 223 contracts have been traded. SILVERM prices have moved down Rs 3534, or 7.50 percent in the August series so far.
at 16:04 hrs MCX SILVERM April contract was trading at Rs 41909 down Rs 570, or 1.34 percent. The SILVERM rate touched an intraday high of Rs 42375 and an intraday low of Rs 41854. So far 13646 contracts have been traded. SILVERM prices have moved down Rs 1091, or 2.54 percent in the April series so far. MCX SILVERM June contract was trading at Rs 42671 down Rs 597, or 1.38 percent. The SILVERM rate touched an intraday high of Rs 43221 and an intraday low of Rs 42635. So far 8258 contracts have been traded. SILVERM prices have moved down Rs 16828, or 28.28 percent in the June series so far. MCX SILVERM August contract was trading at Rs 43572 down Rs 558, or 1.26 percent. The SILVERM rate touched an intraday high of Rs 44020 and an intraday low of Rs 43521. So far 223 contracts have been traded. SILVERM prices have moved down Rs 3534, or 7.50 percent in the August series so far.
MCX Silver July contract trades lower
12:50 PM
alphaadvisory
At 10:47 hrs MCX SILVER May contract was trading at Rs 42248 down Rs 220, or 0.52 percent. The SILVER rate touched an intraday high of Rs 42349 and an intraday low of Rs 42230. So far 1148 contracts have been traded. SILVER prices have moved down Rs 803, or 1.87 percent in the May series so far. MCX SILVER July contract was trading at Rs 43000 down Rs 212, or 0.49 percent. The SILVER rate touched an intraday high of Rs 43087 and an intraday low of Rs 42981. So far 508 contracts have been traded. SILVER prices have moved down Rs 10423, or 19.51 percent in the July series so far.
Crude dips on Libya supply prospects, offsets U.S. housing data
10:10 AM
alphaadvisory
Investing.com - Investing.com - Crude futures fell on Monday amid anticipation that oil shipments will resume from Libyan ports once closed by rebels, offsetting solid U.S. housing data. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in June traded at $100.41 a barrel during U.S. trading, down 0.19%. New York-traded oil futures hit a session low of $100.39 a barrel and a high of $101.52 a barrel. The June contract settled down 1.31% at $100.60 a barrel on Friday. Nymex oil futures were likely to find support at $99.95 a barrel, the low from April 7, and resistance at $102.35 a barrel, Thursday's high. Libyan government officials and rebels reached an agreement to re-open oil ports earlier this month, and expectations for crude to begin flowing sent prices falling on Monday, as investors braced for increased global supply, offsetting bullish U.S. data. The National Association of Realtors reported earlier that pending home sales jumped 3.4% in March, far surpassing expectations for a 1% gain. Pending home sales for February were revised to a 0.5% drop from a previously reported decline of 0.8%, though March's figure marked the first increase in nine month, a sign the U.S. economy is gaining steam and will demand more fuel and energy going forward. Elsewhere, the U.S. slapped fresh sanctions on Russia earlier, which supported the commodity briefly. The third round of sanctions out of Washington targeted seven individuals and 17 companies, which support oil by stoking concerns the crisis could affect Russian exports, though Libya supply expectations kept prices in negative territory. Russia is the world's second largest oil exporter after Saudi Arabia. Elsewhere, on the ICE Futures Exchange in London, Brent oil futures for June delivery were down 1.22%, trading at US$108.25 a barrel, while the spread between the Brent and U.S. crude contracts stood at US$7.84 a barrel.
Ukraine may keep the gold bulls out in force
10:09 AM
alphaadvisory
The stand-off between Russia and the West over Ukraine saw gold climb to its highest level in one-and-a-half weeks on Monday, steadying above USD 1,300/oz as weaker equities and escalating geopolitical tensions boosted the metal's safe-haven appeal, Reuters reported.
The deepening crisis in Ukraine will continue to boost safe-haven demand for gold though any evidence of a resilient US economy in this week's key scheduled data releases may erode prices, CNBC's weekly sentiment survey showed. "We have been warning about the headline risk out of the Ukraine for some time now, something we felt the bears should not get too complacent about," said Edward Meir, an analyst at INTL FCStone in New York. "We would prefer to tip our trading books towards the long side in gold." Just over half of the respondents in CNBC's weekly survey (51 percent) agree with Meir, saying the price of gold will rise this week. Reinforcing the bullish view of CNBC's poll, the latest data from IG Markets shows 81 percent of their more than 501 clients with open positions expect gold prices to advance.
The deepening crisis in Ukraine will continue to boost safe-haven demand for gold though any evidence of a resilient US economy in this week's key scheduled data releases may erode prices, CNBC's weekly sentiment survey showed. "We have been warning about the headline risk out of the Ukraine for some time now, something we felt the bears should not get too complacent about," said Edward Meir, an analyst at INTL FCStone in New York. "We would prefer to tip our trading books towards the long side in gold." Just over half of the respondents in CNBC's weekly survey (51 percent) agree with Meir, saying the price of gold will rise this week. Reinforcing the bullish view of CNBC's poll, the latest data from IG Markets shows 81 percent of their more than 501 clients with open positions expect gold prices to advance.
Indian rupee opens higher at 60.59 per dollar
9:38 AM
alphaadvisory
The Indian rupee opened with marginal gains
of 5 paise at 60.59 per dollar on Tuesday as against previous day's
closing value of 60.64 a dollar.
Ashutosh Raina of HDFC Bank said that, “The escalating tension in Ukraine has had some bearish impact on the developed as well as emerging markets. Indian markets, though, have outperformed peers.”
“The consistent but slightly reduced FII flows have resulted in currency as well as equity market gains. The expected positive election results are keeping sentiment positive. The range for rupee for the day is seen between 60- 61/dollar,” he added.
The euro traded at multi-week highs against the yen early and held firm against the dollar following a surprisingly strong performance overnight as expectations for additional stimulus from the European Central Bank waned
Ashutosh Raina of HDFC Bank said that, “The escalating tension in Ukraine has had some bearish impact on the developed as well as emerging markets. Indian markets, though, have outperformed peers.”
“The consistent but slightly reduced FII flows have resulted in currency as well as equity market gains. The expected positive election results are keeping sentiment positive. The range for rupee for the day is seen between 60- 61/dollar,” he added.
The euro traded at multi-week highs against the yen early and held firm against the dollar following a surprisingly strong performance overnight as expectations for additional stimulus from the European Central Bank waned
Monday, April 28, 2014
sell silver @ blw 42450 1st Tgt - 42300 2nd Tgt - 42200 3rd Tgt - 42100 S.L - 42600
3:23 PM
alphaadvisory
Silver prices slip 19% in July series so far
1:11 PM
alphaadvisory
At 10:53 hrs MCX SILVER May contract was trading at Rs 42620 up Rs 13, or 0.03 percent. The SILVER rate touched an intraday high of Rs 42746 and an intraday low of Rs 42612. So far 999 contracts have been traded. SILVER prices have moved down Rs 431, or 1 percent in the May series so far. MCX SILVER July contract was trading at Rs 43337 up Rs 22, or 0.05 percent. The SILVER rate touched an intraday high of Rs 43439 and an intraday low of Rs 43333. So far 212 contracts have been traded. SILVER prices have moved down Rs 10086, or 18.88 percent in the July series so far.
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