Buy Nickel above 1062 Tgt 1168 / 1173 / 1179 Sl 1151 Alpha Adisory (0422-4223221)
Thursday, August 7, 2014
Buy Nickel above 1062 Tgt 1168 / 1173 / 1179 Sl 1151 Alpha Adisory (0422-4223221)
12:23 PM
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11:43 AM
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Friday, July 4, 2014
Free Technical Advice
1:56 PM
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Friday, May 2, 2014
Gold prices may steady, but outlook broadly bearish
11:46 AM
alphaadvisory
A better tone in the U.S. economy despite geopolitical tensions, weak demand from Asia is weighing heavily on gold's appeal as a hedge.
After a 12 year rally, gold prices ended its bull run in 2013, wherein gold prices lost around 28 percent of its value. Bearish investors have been cheering gold's retreat. The popularity of placing bets on lower gold prices has grown throughout the year. The year 2014 seem to be a good year for gold, as prices once again started its bull run and headed towards $1400 mark making an impressive rally of 14 percent by mid March 2014 and then started declining and headed towards $1300 mark. Prices gained by more than 7 percent in the first four months of 2014 appealing gold as an asset class. In the domestic markets, gold prices gained by around 1.2 percent on year till date basis and gained marginally by around half a percent in Q1 of 2014. Gold’s appeal as a safe haven seems to be declining as stocks sitting inside U.S. exchange warehouses have risen to a 10-month high on weakening of physical demand, particularly from Asia. Also, in the retail gold market, buying sentiment among private bullion investors edged down in March. The Gold Investor Index, which measures the balance of customers adding to gold holdings over those reducing them, was down to 53 in March from 53.5 in February. A reading of 50 signals an equal number of net gold buyers and sellers. Demand from China, the biggest consumer of yellow metal also seem to be waning as net gold flows into China from Hong Kong fell to 85.128 tonnes in March 2014 from 112.314 tonnes in February. Banks are reluctant to bring more gold into the country at a time when demand is soft and a weak yuan would force them to take losses on any sales. Prices on the Shanghai Gold Exchange, the platform for all physical gold trades in China, flipped to a discount to spot prices in early March and remained lower than London prices for all of that month. In the last few days, they have been trading either on par or at a very slight premium. This indicates that slowing demand from China the world’s largest consumer of the yellow metal. From Akshaya Tritiya last year, on May 13 till date, gold prices on the MCX is up 7.06 percent (mostly due to weak rupee), while the international markets have declined by around 10 percent in the same time frame as investors have been on a selling mode globally and tough restrictions on import and jewellery businesses have taken the wind out of the sails of the sector. This will continue for this year also as investor’s appetite towards gold as a safe haven has drastically reduced and these will lead to gradual shift of funds from gold to other asset classes like equities exerting downside pressure on gold prices. Outlook Weak physical demand from Asia and continued optimism about US economy are the prime reason for gold prices to be under pressure in the recent weeks. A better tone in the U.S. economy despite geopolitical tensions had recently weighed heavily on gold's appeal as a hedge. A strong economy could mean that the Fed could quicken its path towards a tighter monetary stance. In the immediate-term, support to gold prices will be seen especially as prices in the Indian markets could stabilize before taking a correction further. This is due to the wedding season and the traditional Akshaya Tritiya demand, during which investors and retail consumers in India prefer to make gold purchases (irrespective of the price) due to the auspicious sentiment attached to it. However a note of caution as gold has lost its sheen over the past year on account of waning interest by the ETF investors and investors across the globe are generally in a sell mode.
After a 12 year rally, gold prices ended its bull run in 2013, wherein gold prices lost around 28 percent of its value. Bearish investors have been cheering gold's retreat. The popularity of placing bets on lower gold prices has grown throughout the year. The year 2014 seem to be a good year for gold, as prices once again started its bull run and headed towards $1400 mark making an impressive rally of 14 percent by mid March 2014 and then started declining and headed towards $1300 mark. Prices gained by more than 7 percent in the first four months of 2014 appealing gold as an asset class. In the domestic markets, gold prices gained by around 1.2 percent on year till date basis and gained marginally by around half a percent in Q1 of 2014. Gold’s appeal as a safe haven seems to be declining as stocks sitting inside U.S. exchange warehouses have risen to a 10-month high on weakening of physical demand, particularly from Asia. Also, in the retail gold market, buying sentiment among private bullion investors edged down in March. The Gold Investor Index, which measures the balance of customers adding to gold holdings over those reducing them, was down to 53 in March from 53.5 in February. A reading of 50 signals an equal number of net gold buyers and sellers. Demand from China, the biggest consumer of yellow metal also seem to be waning as net gold flows into China from Hong Kong fell to 85.128 tonnes in March 2014 from 112.314 tonnes in February. Banks are reluctant to bring more gold into the country at a time when demand is soft and a weak yuan would force them to take losses on any sales. Prices on the Shanghai Gold Exchange, the platform for all physical gold trades in China, flipped to a discount to spot prices in early March and remained lower than London prices for all of that month. In the last few days, they have been trading either on par or at a very slight premium. This indicates that slowing demand from China the world’s largest consumer of the yellow metal. From Akshaya Tritiya last year, on May 13 till date, gold prices on the MCX is up 7.06 percent (mostly due to weak rupee), while the international markets have declined by around 10 percent in the same time frame as investors have been on a selling mode globally and tough restrictions on import and jewellery businesses have taken the wind out of the sails of the sector. This will continue for this year also as investor’s appetite towards gold as a safe haven has drastically reduced and these will lead to gradual shift of funds from gold to other asset classes like equities exerting downside pressure on gold prices. Outlook Weak physical demand from Asia and continued optimism about US economy are the prime reason for gold prices to be under pressure in the recent weeks. A better tone in the U.S. economy despite geopolitical tensions had recently weighed heavily on gold's appeal as a hedge. A strong economy could mean that the Fed could quicken its path towards a tighter monetary stance. In the immediate-term, support to gold prices will be seen especially as prices in the Indian markets could stabilize before taking a correction further. This is due to the wedding season and the traditional Akshaya Tritiya demand, during which investors and retail consumers in India prefer to make gold purchases (irrespective of the price) due to the auspicious sentiment attached to it. However a note of caution as gold has lost its sheen over the past year on account of waning interest by the ETF investors and investors across the globe are generally in a sell mode.
MCX Goldpetal June contract firms up
11:45 AM
alphaadvisory
Goldpetal prices on MCX were trading with marginal gains on Friday. MCX Goldpetal June contract was trading at Rs 3045 up Rs 5, or 0.16 percent.
At 10:46 hrs MCX GOLDPETAL May contract was trading at Rs 3059 up Rs 3, or 0.10 percent. The GOLDPETAL rate touched an intraday high of Rs 3059 and an intraday low of Rs 3052. So far 735 contracts have been traded. GOLDPETAL prices have moved up Rs 35, or 1.16 percent in the May series so far. MCX GOLDPETAL June contract was trading at Rs 3045 up Rs 5, or 0.16 percent. The GOLDPETAL rate touched an intraday high of Rs 3049 and an intraday low of Rs 3038. So far 153 contracts have been traded. GOLDPETAL prices have moved up Rs 195, or 6.84 percent in the June series so far. MCX GOLDPETAL July contract was trading at Rs 3042 down Rs 1, or 0.03 percent. The GOLDPETAL rate touched an intraday high of Rs 3073 and an intraday low of Rs 3042. So far 15 contracts have been traded. GOLDPETAL prices have moved up Rs 64, or 2.15 percent in the July series so far.
At 10:46 hrs MCX GOLDPETAL May contract was trading at Rs 3059 up Rs 3, or 0.10 percent. The GOLDPETAL rate touched an intraday high of Rs 3059 and an intraday low of Rs 3052. So far 735 contracts have been traded. GOLDPETAL prices have moved up Rs 35, or 1.16 percent in the May series so far. MCX GOLDPETAL June contract was trading at Rs 3045 up Rs 5, or 0.16 percent. The GOLDPETAL rate touched an intraday high of Rs 3049 and an intraday low of Rs 3038. So far 153 contracts have been traded. GOLDPETAL prices have moved up Rs 195, or 6.84 percent in the June series so far. MCX GOLDPETAL July contract was trading at Rs 3042 down Rs 1, or 0.03 percent. The GOLDPETAL rate touched an intraday high of Rs 3073 and an intraday low of Rs 3042. So far 15 contracts have been traded. GOLDPETAL prices have moved up Rs 64, or 2.15 percent in the July series so far.
MCX Silvermic August contract rises
11:43 AM
alphaadvisory
Silvermic prices on MCX advanced on Friday. MCX Silvermic August contract was trading at Rs 42490 up Rs 58, or 0.14 percent.
At 10:47 hrs MCX SILVERMIC June contract was trading at Rs 41647 up Rs 60, or 0.14 percent. The SILVERMIC rate touched an intraday high of Rs 41661 and an intraday low of Rs 41510. So far 4716 contracts have been traded. SILVERMIC prices have moved down Rs 5631, or 11.91 percent in the June series so far. MCX SILVERMIC August contract was trading at Rs 42490 up Rs 58, or 0.14 percent. The SILVERMIC rate touched an intraday high of Rs 42500 and an intraday low of Rs 42372. So far 271 contracts have been traded. SILVERMIC prices have moved down Rs 7241, or 14.56 percent in the August series so far.
At 10:47 hrs MCX SILVERMIC June contract was trading at Rs 41647 up Rs 60, or 0.14 percent. The SILVERMIC rate touched an intraday high of Rs 41661 and an intraday low of Rs 41510. So far 4716 contracts have been traded. SILVERMIC prices have moved down Rs 5631, or 11.91 percent in the June series so far. MCX SILVERMIC August contract was trading at Rs 42490 up Rs 58, or 0.14 percent. The SILVERMIC rate touched an intraday high of Rs 42500 and an intraday low of Rs 42372. So far 271 contracts have been traded. SILVERMIC prices have moved down Rs 7241, or 14.56 percent in the August series so far.
Which region is driving gold demand across the world?
11:42 AM
alphaadvisory
WGC expects China's annual demand for gold in the form of jewellery, coins and bars is set to hit "at least 1,350 tonnes by 2017".
China's demand for gold is the highest in the world followed by India, says a World Gold Council report. WGC expects China's annual demand for gold in the form of jewellery, coins and bars is set to hit "at least 1,350 tonnes by 2017". Apart from China and India here's data of how much gold other countries consumed.
China's demand for gold is the highest in the world followed by India, says a World Gold Council report. WGC expects China's annual demand for gold in the form of jewellery, coins and bars is set to hit "at least 1,350 tonnes by 2017". Apart from China and India here's data of how much gold other countries consumed.
CHART: Gold vs Sensex between last Akshaya Tritiya and now
11:41 AM
alphaadvisory
Should the much anticipated global economic recovery materialize, equities will be the clear favourites.
After outperforming equities a handsome margin in FY13, gold lost much of its ‘safe haven’ sheen last year, and ended up lagging the Sensex. Prospects for the yellow metal, in comparison to equities, do not look too bright this year too. Investors are betting on a global economic recovery later this year. Also, the Fed is expected to reduce the pace of its monthly bond purchases going ahead. This in turn should strengthen the dollar. Should the much anticipated global economic recovery materialize, equities will be the clear favourites.
After outperforming equities a handsome margin in FY13, gold lost much of its ‘safe haven’ sheen last year, and ended up lagging the Sensex. Prospects for the yellow metal, in comparison to equities, do not look too bright this year too. Investors are betting on a global economic recovery later this year. Also, the Fed is expected to reduce the pace of its monthly bond purchases going ahead. This in turn should strengthen the dollar. Should the much anticipated global economic recovery materialize, equities will be the clear favourites.
From Akshaya Tritiya to Dhanteras: Gold to shine brighter?
10:12 AM
alphaadvisory
CA Kaushal Jaini, Head – Wealth Management and Research, Dani Securities doesn't see poll outcome driving gold price.
The general investor sentiment on gold is weak. Despite many seeking refuge in the metal, gold prices are struggling sustain on higher levels and breach those key levels, and other assets have once again found place on investors' radar since the financial crisis witnessed between 2008-2013 is more or less out of way, say experts. Equity markets are at all-time high with further scope to go up given fair valuations. Post Akashay Tritiya, the next major occasion to binge on gold for Indian investors would be Dhanteras, which is nearly six months away. Between now and then, certain events could play a key role in determining in which direction gold price will move. While El Nino may lead to poor monsoon thereby dragging rural gold demand lower; removal of current curbs on gold-import may aid sentiment. Also Read: El Nino, polls, weak economy: Should you still buy gold? Elections outcome: The equity market seems to have factored in BJP-led NDA coming to power at the Centre. There are expectations that the Nifty may even breach 7,500 level on positive poll outcome. While an unfavourable poll outcome may its toll on Indian indices, it is likely to boost gold demand, which seen as refuge against volatility, says Sandeep Sharma, senior analyst, Hem Securities. Further, rise in dollar demand will make the Indian currency weak and that will ultimately boost domestic gold price, he adds. Agreeing with Sharma, Gnanasekar Thiagarajan, Research Director, Commtrendz adds after equity markets regain stability after digesting unfavourable election outcome, the rally seen in gold will be short-lived. However, CA Kaushal Jaini, Head – Wealth Management and Research, Dani Securities, doesn't see poll outcome driving gold price. Election results will be declared on May 16. Ukraine crisis: Gold was not a hot favourite of investors early this year, but rising tensions between Russia and Ukraine have spurred a safe-haven gold buying. Lacklustre gold was stuck in Rs 28,000-Rs 29,000/10gms for some time now. Sharma expects gold to break this technical resistance of Rs 29,000/10gms, especially if Ukrainian crisis intensifies. Gnanasekar is not too worried about the impact of Ukraine woes on gold prices. "The crisis has had minimum effect and prices are unable to sustain at higher levels. Also, producers have resorted to hedging, which protects them from price risk. So, any rallies could be short-lived as producers could start hedging as prices rise,” he reiterates. If the situation in Ukraine worsens there would be spike in gold prices, but gold is unlikely to test 35,000/10 gms mark because of the crisis alone, he adds. Jaini also feels that the impact of Ukraine crisis won't succeed to take gold price to 35,000/10 gms. Outlook and Key levels: Gnanasekar expects gold prices to come under pressure in the coming six months and there could be intermittent relief rallies leading to bargain hunting at lower levels. He feels that physical buying at lower levels could cushion the downside and on the positive side, if prices fall below the cost of production (nearly USD1200 /oz) then production cuts and cost cuts could support gold. He is bearish on gold from perspective of next six months, however, a decline close to USD 1200/oz or lower could be utilised as an ideal long-term investment opportunity, he advises. Factors like unresolved macro imbalances in some key emerging-market economies and continued uncertainty about the strength of US, Europe and Japan would keep the demand for perceived safe havens such as gold strong going ahead, says Hem Securities. According to the broking firm, key upside and downside levels to watch out for this year would be Rs 31,500-Rs 27,500/10gms. Consumption demand for gold is still intact, however price correction has not lead to heavy demand push, says Jaini. On the global front, USD1250-USD1400/oz is the key range to watch out for, he adds.
The general investor sentiment on gold is weak. Despite many seeking refuge in the metal, gold prices are struggling sustain on higher levels and breach those key levels, and other assets have once again found place on investors' radar since the financial crisis witnessed between 2008-2013 is more or less out of way, say experts. Equity markets are at all-time high with further scope to go up given fair valuations. Post Akashay Tritiya, the next major occasion to binge on gold for Indian investors would be Dhanteras, which is nearly six months away. Between now and then, certain events could play a key role in determining in which direction gold price will move. While El Nino may lead to poor monsoon thereby dragging rural gold demand lower; removal of current curbs on gold-import may aid sentiment. Also Read: El Nino, polls, weak economy: Should you still buy gold? Elections outcome: The equity market seems to have factored in BJP-led NDA coming to power at the Centre. There are expectations that the Nifty may even breach 7,500 level on positive poll outcome. While an unfavourable poll outcome may its toll on Indian indices, it is likely to boost gold demand, which seen as refuge against volatility, says Sandeep Sharma, senior analyst, Hem Securities. Further, rise in dollar demand will make the Indian currency weak and that will ultimately boost domestic gold price, he adds. Agreeing with Sharma, Gnanasekar Thiagarajan, Research Director, Commtrendz adds after equity markets regain stability after digesting unfavourable election outcome, the rally seen in gold will be short-lived. However, CA Kaushal Jaini, Head – Wealth Management and Research, Dani Securities, doesn't see poll outcome driving gold price. Election results will be declared on May 16. Ukraine crisis: Gold was not a hot favourite of investors early this year, but rising tensions between Russia and Ukraine have spurred a safe-haven gold buying. Lacklustre gold was stuck in Rs 28,000-Rs 29,000/10gms for some time now. Sharma expects gold to break this technical resistance of Rs 29,000/10gms, especially if Ukrainian crisis intensifies. Gnanasekar is not too worried about the impact of Ukraine woes on gold prices. "The crisis has had minimum effect and prices are unable to sustain at higher levels. Also, producers have resorted to hedging, which protects them from price risk. So, any rallies could be short-lived as producers could start hedging as prices rise,” he reiterates. If the situation in Ukraine worsens there would be spike in gold prices, but gold is unlikely to test 35,000/10 gms mark because of the crisis alone, he adds. Jaini also feels that the impact of Ukraine crisis won't succeed to take gold price to 35,000/10 gms. Outlook and Key levels: Gnanasekar expects gold prices to come under pressure in the coming six months and there could be intermittent relief rallies leading to bargain hunting at lower levels. He feels that physical buying at lower levels could cushion the downside and on the positive side, if prices fall below the cost of production (nearly USD1200 /oz) then production cuts and cost cuts could support gold. He is bearish on gold from perspective of next six months, however, a decline close to USD 1200/oz or lower could be utilised as an ideal long-term investment opportunity, he advises. Factors like unresolved macro imbalances in some key emerging-market economies and continued uncertainty about the strength of US, Europe and Japan would keep the demand for perceived safe havens such as gold strong going ahead, says Hem Securities. According to the broking firm, key upside and downside levels to watch out for this year would be Rs 31,500-Rs 27,500/10gms. Consumption demand for gold is still intact, however price correction has not lead to heavy demand push, says Jaini. On the global front, USD1250-USD1400/oz is the key range to watch out for, he adds.
El Nino, polls, weak economy: Should you still buy gold?
10:11 AM
alphaadvisory
Sandeep Sharma, senior research analyst, Hem Securities advises investors to stick to buy on dips approach. From a technical point of view, for traders, gold seems to moving in a sideways trend within Rs 28,000- Rs 29,000/10 gms range.
The gold bug has bitten us yet again! Yes, its Akshaya Tritiya, the second biggest festival after Dhanteras for buying the yellow metal. Gold jewellers would push sales today , while investors would want to add some glitter to their portfolios. The general sentiment for the bullion remains weak as of now and premiums high. Also, there are concerns that ongoing Lok Sabha elections may play as a spoilt sport for overall jewellery business and fears of impact of El Nino on monsoons might dampen gold demand in rural areas. Given these factors, what would be the best way to play the precious metal this Akshaya Tritiya? Moneycontrol.com caught up with experts who shared investment and trading strategies on gold. Sandeep Sharma, senior research analyst, Hem Securities is optimistic on gold from a long-term perspective and he doesn't give much weigthage to these two events in context of hampering gold demand. He advises investors to stick to buy on dips approach. From a technical point of view, for traders, gold seems to moving in a sideways trend within Rs 28,000- Rs 29,000/10 gms range. "One can opt for a buy call at Rs 28,200/10gms and short call at Rs 28900/10gms," he adds. Gnanasekar Thiagarajan, Research Director, Commtrendz has called it quits this time."Whether I advise or not, investors will buy gold for Akshaya Trithiya. Unfortunately, prevailing high premiums could dent their appetite," he says. According to him, both these factors may not work positively for gold. "The new government is not likely to change any policies, which could rub the RBI on the wrong side. The impact of El Nino is still very unclear, it is just a fear as of now," he says. This is good time for investors to buy atleast 50 percent of their requirements, CA Kaushal Jaini, Head – Wealth Management and Research, Dani Securities says. He doesn't see a major correction in gold price going ahead. ETFs Those looking to take the exchange traded fund ( ETF ) route can consider investing in Reliance Gold ETF and Birla Sun Life Gold ETF, recommends Kiran Kumar Kavikondala, Director WealthRays Group, a Bangalore-based PF consulting firm. Investors who don't hold a demat account could buy mutual funds like Axis Gold Fund or Kotak Gold Fund instead of ETFs. Active investors can invest in exclusive gold funds, he suggests. Wealth Builder Funds Passive investors who don't have much idea about asset allocation or are not inclined to rebalance their portfolios regularly, should invest in funds that combine equity, debt and gold hybrid funds, he adds. These are commonly known as wealth builder funds. While parking money in such funds, investors generally expect that at any given point of time at least two of the three asset classes will perform. However, these funds fall under the tax ambit and their performance is not comparable with any other category of funds, he adds. Further, investor should limit their exposure to gold to around 10-15 percent of their overall investment portfolio only if they have an investment horizon in excess of five-seven years, he adds.
The gold bug has bitten us yet again! Yes, its Akshaya Tritiya, the second biggest festival after Dhanteras for buying the yellow metal. Gold jewellers would push sales today , while investors would want to add some glitter to their portfolios. The general sentiment for the bullion remains weak as of now and premiums high. Also, there are concerns that ongoing Lok Sabha elections may play as a spoilt sport for overall jewellery business and fears of impact of El Nino on monsoons might dampen gold demand in rural areas. Given these factors, what would be the best way to play the precious metal this Akshaya Tritiya? Moneycontrol.com caught up with experts who shared investment and trading strategies on gold. Sandeep Sharma, senior research analyst, Hem Securities is optimistic on gold from a long-term perspective and he doesn't give much weigthage to these two events in context of hampering gold demand. He advises investors to stick to buy on dips approach. From a technical point of view, for traders, gold seems to moving in a sideways trend within Rs 28,000- Rs 29,000/10 gms range. "One can opt for a buy call at Rs 28,200/10gms and short call at Rs 28900/10gms," he adds. Gnanasekar Thiagarajan, Research Director, Commtrendz has called it quits this time."Whether I advise or not, investors will buy gold for Akshaya Trithiya. Unfortunately, prevailing high premiums could dent their appetite," he says. According to him, both these factors may not work positively for gold. "The new government is not likely to change any policies, which could rub the RBI on the wrong side. The impact of El Nino is still very unclear, it is just a fear as of now," he says. This is good time for investors to buy atleast 50 percent of their requirements, CA Kaushal Jaini, Head – Wealth Management and Research, Dani Securities says. He doesn't see a major correction in gold price going ahead. ETFs Those looking to take the exchange traded fund ( ETF ) route can consider investing in Reliance Gold ETF and Birla Sun Life Gold ETF, recommends Kiran Kumar Kavikondala, Director WealthRays Group, a Bangalore-based PF consulting firm. Investors who don't hold a demat account could buy mutual funds like Axis Gold Fund or Kotak Gold Fund instead of ETFs. Active investors can invest in exclusive gold funds, he suggests. Wealth Builder Funds Passive investors who don't have much idea about asset allocation or are not inclined to rebalance their portfolios regularly, should invest in funds that combine equity, debt and gold hybrid funds, he adds. These are commonly known as wealth builder funds. While parking money in such funds, investors generally expect that at any given point of time at least two of the three asset classes will perform. However, these funds fall under the tax ambit and their performance is not comparable with any other category of funds, he adds. Further, investor should limit their exposure to gold to around 10-15 percent of their overall investment portfolio only if they have an investment horizon in excess of five-seven years, he adds.
India may not regain world's top gold consumer tag soon
10:10 AM
alphaadvisory
Gnanasekar Thiagarajan, Research Director, Commtrendz, said he expected some token announcement by the authorities before Akshaya Tritiya. Now he feels that the government might follow a more strategic and calibrated approach depending on rupee's stability before taking any decision on gold import norms.
India is not the world's top gold consumer anymore. For the first time ever, we lost this title to China. Chinese demand for gold rose 32 percent to a record 1,066 tonne in 2013 while India bought 975 tonne, says a latest World Gold Council (WGC) Gold Demand Trends report. However, on a year-on-year basis, India's demand rose 13 percent in 2013. Higher import duties, slew of restrictions on gold-import implemented by the Indian government and Reserve Bank of India (RBI) over the past two years to fix the country's large current account deficit led to limited supply in the domestic market. This supply crunch pushed premiums and local gold prices even higher, which in turn had some impact on the demand for the precious metal. Meanwhile, India’s current account deficit (CAD) narrowed sharply to USD 4.2 billion (0.9 percent of GDP) in Q3 of 2013-14 from USD 31.9 billion (6.5 percent of GDP) in Q3 of 2012-13 aided by fall in the trade deficit as merchandise exports picked up and imports moderated, particularly gold imports. Now that India's CAD is in a better position, there were widespread expectations among gold jewelers and traders that import curbs would be relaxed sooner than later. But, nothing happened. Gnanasekar Thiagarajan, Research Director, Commtrendz, said he expected some token announcement by the authorities before Akshaya Tritiya. Now he feels that the government might follow a more strategic and calibrated approach depending on rupee's stability before taking any decision on gold import norms. Thiagarajan is hopeful of some positive announcement before Diwali. Apart from weddings, gold-loving Indians consider Akshaya Tritiya and Diwali auspicious occasions for buying the yellow metal. Sandeep Sharma, senior research analyst, Hem Securities believes only when the CAD reaches a comfortable level, these restrictions will be removed, but nothing before that. CA Kaushal Jaini, Head – Wealth Management and Research, Dani Securities also sees no likelihood of any announcement on this front before the next two-three quarters. Does that mean we lost that tag forever? Maybe yes. All the three experts are not too optimistic about India surpassing China's gold demand and regaining its title. From an economic point of view this is good news as we can save lot on forex reserves. Even if imports curbs are removed, China is likely to be the leader because the country uses gold for Quasi financing and that demand could be stronger, says Gnanasekar Thiagarajan. Also, China's reserve position is strong, so they would not put any curbs even if their currency depreciates. That is not the case with India, we would resort to import curbs as soon as the deficit situation worsens, he adds. Sharma sees weak demand for the yellow metal in 2014. "India won't immediately be on the top again," Jaini adds. While analysts may not be too gung-ho on gold, but WGC sees the yellow metal making a comeback this year. In 2014, market estimation of India's gold demand is between 900-1,000 tonne, its report adds.
India is not the world's top gold consumer anymore. For the first time ever, we lost this title to China. Chinese demand for gold rose 32 percent to a record 1,066 tonne in 2013 while India bought 975 tonne, says a latest World Gold Council (WGC) Gold Demand Trends report. However, on a year-on-year basis, India's demand rose 13 percent in 2013. Higher import duties, slew of restrictions on gold-import implemented by the Indian government and Reserve Bank of India (RBI) over the past two years to fix the country's large current account deficit led to limited supply in the domestic market. This supply crunch pushed premiums and local gold prices even higher, which in turn had some impact on the demand for the precious metal. Meanwhile, India’s current account deficit (CAD) narrowed sharply to USD 4.2 billion (0.9 percent of GDP) in Q3 of 2013-14 from USD 31.9 billion (6.5 percent of GDP) in Q3 of 2012-13 aided by fall in the trade deficit as merchandise exports picked up and imports moderated, particularly gold imports. Now that India's CAD is in a better position, there were widespread expectations among gold jewelers and traders that import curbs would be relaxed sooner than later. But, nothing happened. Gnanasekar Thiagarajan, Research Director, Commtrendz, said he expected some token announcement by the authorities before Akshaya Tritiya. Now he feels that the government might follow a more strategic and calibrated approach depending on rupee's stability before taking any decision on gold import norms. Thiagarajan is hopeful of some positive announcement before Diwali. Apart from weddings, gold-loving Indians consider Akshaya Tritiya and Diwali auspicious occasions for buying the yellow metal. Sandeep Sharma, senior research analyst, Hem Securities believes only when the CAD reaches a comfortable level, these restrictions will be removed, but nothing before that. CA Kaushal Jaini, Head – Wealth Management and Research, Dani Securities also sees no likelihood of any announcement on this front before the next two-three quarters. Does that mean we lost that tag forever? Maybe yes. All the three experts are not too optimistic about India surpassing China's gold demand and regaining its title. From an economic point of view this is good news as we can save lot on forex reserves. Even if imports curbs are removed, China is likely to be the leader because the country uses gold for Quasi financing and that demand could be stronger, says Gnanasekar Thiagarajan. Also, China's reserve position is strong, so they would not put any curbs even if their currency depreciates. That is not the case with India, we would resort to import curbs as soon as the deficit situation worsens, he adds. Sharma sees weak demand for the yellow metal in 2014. "India won't immediately be on the top again," Jaini adds. While analysts may not be too gung-ho on gold, but WGC sees the yellow metal making a comeback this year. In 2014, market estimation of India's gold demand is between 900-1,000 tonne, its report adds.
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.
Tuesday, March 18, 2014
Tuesday, March 11, 2014
#LME Ware house Stocks : Copper -7800 Lead -475 Nickel -486 Zinc +6450 Aluminium -9025
3:13 PM
alphaadvisory
Monday, March 10, 2014
Thursday, March 6, 2014
Wednesday, March 5, 2014
Tuesday, March 4, 2014
Gold Apr MCX and Silver May MCX down near 1.40% as selling continue in global market
5:18 PM
alphaadvisory
Putin confirms he is not considering adding Crimea to Russia thereby diffusing the tensions
5:17 PM
alphaadvisory
LME Ware house Stocks : Copper +1475 Lead unchanged Nickel +198 Zinc -4250 Aluminium -6800
2:39 PM
alphaadvisory
Monday, March 3, 2014
Gold base import tariff was raised to $433 per 10 grams from $421 per 10 grams after the global prices surged above $1,300/ounces
12:30 PM
alphaadvisory
Friday, February 28, 2014
#LME Ware house Stocks : Copper +1875 Lead -200 Nickel -78 Zinc -4125 Aluminium -6100
2:41 PM
alphaadvisory
MCX Lead Mar likely to trade with sideways to bullish with strong support at 132
12:28 PM
alphaadvisory
MCX Gold trading marginal down on the back of a rise in weekly U.S. jobless claims and decline in monthly durable goods orders
12:27 PM
alphaadvisory
MCX Aluminium Mar gains with minor change, may trade within range of 107.5-109
12:27 PM
alphaadvisory
Wednesday, February 26, 2014
#LME Ware house Stocks : Copper -2750 Lead +1225 Nickel +2424 Zinc -4950 Aluminium -7775
2:51 PM
alphaadvisory
MCX Gold Apr down by 0.20% tracking weak physical demand, INR appreciation against USD weighted
2:48 PM
alphaadvisory
MCX Gold futures trading flat today as weak data releases from US and pulled lower due to profit booking
2:48 PM
alphaadvisory
MCX Nickel Feb is likely to recover till 897 level, good support is seen at 878
2:05 PM
alphaadvisory
MCX Nickel Feb is likely to recover till 897 level, good support is seen at 878
2:02 PM
alphaadvisory
Monday, February 24, 2014
NCDEX Castorseed March futures likely to touch 4500 in near term. support seen at 4220.
2:39 PM
alphaadvisory
LME Ware house Stocks : Copper -2875 Lead unchanged Nickel -558 Zinc -4850 Aluminium -7675
2:35 PM
alphaadvisory
Gold futures trade slightly positive as weaker dollar offsets higher equities
11:47 AM
alphaadvisory
Friday, February 21, 2014
Weak US data, stronger Dollar may exert downside pressure on Commodities
4:59 PM
alphaadvisory
Weak US data, stronger Dollar may exert downside pressure on Commodities
Spot gold prices are
trading lower by 0.1 percent today on the back of rise in risk aversion
in the markets coupled with strength in the DX. Also, correction seen in
SPDR holdings exerted downside pressure on prices.
February 21, 2014 16:55
MUMBAI:
European equities are trading on a mixed note today ahead of new home
sales data from the US in the evening session. Asian markets ended on a
mixed note and the US stock futures are trading higher.UK’s Retail Sales slumped by 1.5 percent in January as against a jump of 2.5 percent in December. Public Sector Net Borrowing fell by 6.4 billion Pounds in January as compared to a gain of 9 billion Pounds in the previous month.
Spot gold prices are trading lower by 0.1 percent today on the back of rise in risk aversion in the markets coupled with strength in the DX. Also, correction seen in SPDR holdings exerted downside pressure on prices. In the Indian markets, gold prices traded on a flat note today.
Taking cues from fall in gold prices, Spot silver prices fell by around 0.1 percent today. Also, mixed global market sentiments along with strength in the DX acted as negative factor for prices of the white metal. MCX Silver prices gained around 0.1 percent today despite Rupee appreciation.
Base metals pack on the LME except Copper traded on a positive note on the back of positive manufacturing data from the US that came yesterday. Also, decline in inventories acted as a positive factor. However, sharp gains were capped on the back of strength in the DX along with rise in risk aversion in the markets. In the Indian markets, base metals traded higher except Copper despite Rupee appreciation.
LME Copper prices fell by around 0.2 percent today taking cues from unfavourable Philly Fed manufacturing data from the US along with negative manufacturing data from the biggest consumer, China. Also, strength in the DX along with mixed global market sentiments acted as a negative factor. However, positive manufacturing PMI data from the US coupled with decline in LME inventories by 1.5 percent to 285,350 tonnes restricted sharp fall in prices. MCX Copper prices declined by 0.1 percent today.
Nymex crude oil prices declined by 0.4 percent today taking cues from rise in the US crude oil inventories which has gained for the fifth consecutive week ending on 14th Feb’14. Further, drop in gasoline and distillate demand along with strength in the DX exerted downside pressure on prices. MCX crude oil prices fell by 0.3 percent and touched a low of Rs.6365/bbl till 4:00pm IST.
In the evening session, we expect precious metals, base metals and crude oil prices to trade on a mixed note on the back of mixed global market sentiments. Also, strength in the DX will act as a negative factor.
Further, expectations of weak economic data from the US in the evening session will exert downside pressure on prices
#LME Ware house Stocks : Copper -4250 Lead +75 Nickel -504 Zinc -4975 Aluminium -7050
2:53 PM
alphaadvisory
Thursday, February 20, 2014
Commodities may trade negative on weak global market sentiments, stronger Dollar
4:54 PM
alphaadvisory
NEWS MARKETS TRADING ADVISORY AGRI SERVICE FOLLOW US facebook facebook Home News Details Other Stories Rising Crude Oil prices a worry for Indian economy, CAD may rise 20 Feb 14 BTG Pactual net profit rises 3% in 4Q2013 20 Feb 14 Myron Scholes appointed to CME Group's Competitive Markets Advisory Council 20 Feb 14 Natural Gas rally subsides on profit booking, trend still positive 20 Feb 14 Gold mining output has little impact on prices: Jeff Nichols 20 Feb 14 Could graphite demand for lithium-ion batteries double in five years? 19 Feb 14 How retail demand sliced 400oz London Good Delivery bars in 2013 19 Feb 14 Sweetening Sugar in an election year: Will it pay? 19 Feb 14 Eagle Ford Shale play: The identity crisis 19 Feb 14 Natural Gas flares up on winter storms, cold weather, MCX Nat Gas may target 385 near term 19 Feb 14 China’s Commodity diplomacy in the Caribbean aka US backyard 19 Feb 14 Fourth consecutive gain on D-Street; IT, Pharma stocks rally 19 Feb 14 Market Pulse LME Inventory: Aluminium falls the most by 4275 tons 2014-02-20 15:41:16 Mustard market under long liquidation, open interest drops 2.85% 2014-02-20 12:16:00 Fresh selling seen in Maize, support at 1210 2014-02-20 12:08:22 More Future Prices Gold (2014-12-05) 28618(379) (LTP) Gold (2014-12-05) 28220(0) (LTP) Gold (2014-07-29) 25998(0) (LTP) Gold (2014-07-29) 25998(0) (LTP) More Technical Analysis Schatz resistance at 110.62/63 Bobl: Immediate resistance at 126.83/84 Bund: Immediate resistance at 144.00/02 More Fundamentals Japan's trade deficit continues to rise, hits $27.3 bn in Jan Pakistan Sugar exports rise 90.59% to 111806 tons in Jan: PBS India's Natural Rubber imports may fall to 200000 tons in 2014-15 More Pivot Point Gold 20 Feb 2014 29978 Pivot Silver 20 Feb 2014 47730 Pivot More Nifty ends below 6100; Financial, FMCG stocks makes hay
4:28 PM
alphaadvisory
MUMBAI (Commodity Online): Indian bourses opened gap
down amid weak global cues. Indices plunged half percent after Fed
minutes released late Wednesday signaled continuation of trimming its
bond buying program at the usual pace of $10bn-a-month unless economy
surprises significantly.
Selling in Banking & Financial and Metal stocks put the pressure on indices. On the flip side, Realty and Capital Goods stocks witnessed buying in opening session. Market traded choppy most of the day. Market extended losses in closing session tracking weak European cues.
Market breadth remained negative amid broader weakness. Midcap and Smallcap indices closed almost flat. Benchmark indices ended with loss of almost one percent in today's session.
Sensex closed at 20536.64 with the loss of 186.33 points and at NSE Nifty closed at 6191.45 with the loss of 61.30 points at the end of the day. BSE MIDCAP index closed at 6377.02 with the gain of 0.08 points and BSE SMALLCAP index closed at 6361.85 with the loss of 10.35 points.
In percentage term key losers were Bank of Baroda Ltd (NSE: BANKBARODA), Kotak Mahindra Bank Ltd (NSE: KOTAKBANK) and Grasim Industries Ltd (NSE: GRASIM) while key gainers were Jaiprakash Associates Ltd (NSE: JPASSOCIAT), Dr Reddy's Laboratories Ltd (NSE: DRREDDY) and Bajaj Auto Ltd (NSE: BAJAJ-AUTO).
On sectoral front almost all the sectoral indices closed in red barring Power and Capital Goods sectors closed marginally in green. Major selling was seen in Banking & Financial, Metal, FMCG, Oil & Gas and IT sectors. Market breadth remained negative amid 1193 advances and 1479 decline stocks.
From the Nifty weight perspective, key losers were ITC Ltd (NSE: ITC), ICICI Bank Ltd (NSE: ICICIBANK) and Housing Development Finance Corporation Ltd (NSE: HDFC) while key gainers were Dr Reddy's Laboratories Ltd (NSE: DRREDDY), Bajaj Auto Ltd (NSE: BAJAJ-AUTO) and Larsen & Toubro Ltd (NSE: LT).
Selling in Banking & Financial and Metal stocks put the pressure on indices. On the flip side, Realty and Capital Goods stocks witnessed buying in opening session. Market traded choppy most of the day. Market extended losses in closing session tracking weak European cues.
Market breadth remained negative amid broader weakness. Midcap and Smallcap indices closed almost flat. Benchmark indices ended with loss of almost one percent in today's session.
Sensex closed at 20536.64 with the loss of 186.33 points and at NSE Nifty closed at 6191.45 with the loss of 61.30 points at the end of the day. BSE MIDCAP index closed at 6377.02 with the gain of 0.08 points and BSE SMALLCAP index closed at 6361.85 with the loss of 10.35 points.
In percentage term key losers were Bank of Baroda Ltd (NSE: BANKBARODA), Kotak Mahindra Bank Ltd (NSE: KOTAKBANK) and Grasim Industries Ltd (NSE: GRASIM) while key gainers were Jaiprakash Associates Ltd (NSE: JPASSOCIAT), Dr Reddy's Laboratories Ltd (NSE: DRREDDY) and Bajaj Auto Ltd (NSE: BAJAJ-AUTO).
On sectoral front almost all the sectoral indices closed in red barring Power and Capital Goods sectors closed marginally in green. Major selling was seen in Banking & Financial, Metal, FMCG, Oil & Gas and IT sectors. Market breadth remained negative amid 1193 advances and 1479 decline stocks.
From the Nifty weight perspective, key losers were ITC Ltd (NSE: ITC), ICICI Bank Ltd (NSE: ICICIBANK) and Housing Development Finance Corporation Ltd (NSE: HDFC) while key gainers were Dr Reddy's Laboratories Ltd (NSE: DRREDDY), Bajaj Auto Ltd (NSE: BAJAJ-AUTO) and Larsen & Toubro Ltd (NSE: LT).
MCX chief financial officer resigns
4:08 PM
alphaadvisory
http://profit.ndtv.com/news/corporates/article-mcx-chief-financial-officer-vastani-resigns-381144 …
Strong resistance for Turmeric NCDEX Apr seen at 7360. trading above the same likely to touch 7560 in near term.
10:56 AM
alphaadvisory
Wednesday, February 19, 2014
MCX Base Metals may trade volatile for evening following list of US economic data
5:48 PM
alphaadvisory
Commodities may trade mixed, awaits FOMC minutes
5:03 PM
alphaadvisory
February 19, 2014 16:45
MUMBAI:
European equities are trading lower today ahead of the housing starts
data from the US in the evening session. Asian markets ended on a
positive note and the US stock futures are trading in the red.UK’s Claimant Count Change fell by 27,600 in January as against a decline of 27,700 in December. Unemployment Rate rose to 7.2 percent in December from 7.1 percent in November. Average Earnings Index gained 1.1 percent in December as compared to a rise of 0.9 percent in November.
Spot gold prices are trading lower by 0.2 percent today taking cues from rise in risk aversion in the markets coupled with strength in the DX. Also, correction seen in SPDR holdings exerted downside pressure on prices. The prices touched an intra-day low of $1313.94/oz till 4:00pm IST.
Taking cues from decline in gold prices, Spot silver prices plunged around 0.5 percent today. Also, mixed global market sentiments along with strength in the DX acted as a negative factor for prices of the white metal. However, sharp downside was cushioned on the back of again in base metal prices.
Base metals pack on the LME traded on a positive note on the back of decline in inventories. However, mixed global market sentiments along with strength in the DX capped sharp gains in prices.
LME Copper prices traded higher by around 0.1 percent today taking cues from decline in inventories by 0.9 percent to 290,625 tonnes. However, rise in risk aversion in the markets along with strength in the DX acted as prevented sharp gains. The red metal prices touched an intra-day high of $7220/tonne till 4:00pm IST.
Nymex crude oil prices declined by around 0.2 percent on the back of expectations of gain in API crude oil inventories. Also, strength in the DX acted as a negative factor. The crude prices touched an intra-day low of $102.49/bbl till 4:00pm IST.
The American Petroleum Institute (API) is scheduled to release its weekly inventories today and US crude oil inventories are expected to gain by 1.8 million barrels for the week ending on 14th February 2014.
In the evening session, we expect precious metals, base metals and crude oil prices to trade on a mixed note on the back of mixed market sentiments. Additionally, direction to the prices will be provided if any major announcement happens in the FOMC meeting minutes.
While on the other hand, strength in the DX will act as a negative factor. Further, expectations of weak economic data from the US in the evening session will exert downside pressure on prices.
Airtel first to cross 200 million mobile-user mark in India http://profit.ndtv.com/news/industries/article-airtel-first-to-cross-200-million-mobile-user-mark-in-india-381071 …
4:47 PM
alphaadvisory
LME Ware house Stocks : Copper -2525 Lead -1050 Nickel -132 Zinc -3525 Aluminium -5475
2:54 PM
alphaadvisory
Tuesday, February 18, 2014
Double crown for China: Largest gold producer and consumer http://tinyurl.com/oss3lw4
7:15 PM
alphaadvisory
Empire State Manufacturing Index may impact positive for #Bullions and negative for #Metals and #Energy
7:11 PM
alphaadvisory
Crude Oil looks bullish in short-term, buying on dips recommended http://tinyurl.com/mqd2xwd
7:09 PM
alphaadvisory
Feb is likely to trade up till 453 level, having good support at 445. http://tinyurl.com/mcfrpep
7:07 PM
alphaadvisory
Gold jumps almost 3% on MCX as no import duty cut was announced in the budget 2014
11:48 AM
alphaadvisory
Monday, February 17, 2014
LME Ware house Stocks : Copper -3100 Lead -500 Nickel -180 Zinc -3575 Aluminium -9250 Tin -60
2:37 PM
alphaadvisory
budget2014 USD/INR falls to day low after FM sees Indian FY15 fiscal deficit at 4.1%
12:16 PM
alphaadvisory
budget2014 FM: Agri credit to cross Rs 7 lakh cr; exports to gain over $45 billion
12:16 PM
alphaadvisory
India Govt intervened swifty to ensure National Spot Exchange crisis did not spread to other sectors: FM
12:13 PM
alphaadvisory
budget2014: Govt committed to amending Forward Contracts Regulation Act to regulate commodity futures
12:12 PM
alphaadvisory
budget2014: FM announces moratorium on interest payment for education loans; details to be announced shortly
12:12 PM
alphaadvisory
Gold and Silver move towards day high post #budget2014 speech, up by 1.7% and 2.7% respectively
12:11 PM
alphaadvisory
Friday, February 7, 2014
10:23 AM
alphaadvisory
|
GOLD
|
BUY
ABOVE
|
TGT 1
|
TGT2
|
TGT3
|
SL
|
HIGH BRK
OUT
|
TGT 1
|
TGT2
|
|
|
28769.83333
|
28851.66667
|
28952.5
|
29053.333
|
28737.8333
|
28940
|
29060.33
|
29134.67
|
|
PIV.POINT
|
SELL
BELOW
|
TGT 1
|
TGT2
|
TGT3
|
SL
|
LOW BRK
OUT
|
TGT1
|
TGT2
|
|
28738.33333
|
28706.83333
|
28536.66667
|
28480
|
28423.333
|
28738.8333
|
28625
|
28504.67
|
28430.33
|
|
|
|
|
|
|
|
|
|
|
|
LEAD
|
BUY
ABOVE
|
TGT 1
|
TGT2
|
TGT3
|
SL
|
HIGH BRK
OUT
|
TGT 1
|
TGT2
|
|
|
131.4766667
|
132.2833333
|
132.6
|
132.91667
|
131.156667
|
131.95
|
132.5612
|
132.9388
|
|
PIV.POINT
|
SELL
BELOW
|
TGT 1
|
TGT2
|
TGT3
|
SL
|
LOW BRK
OUT
|
TGT1
|
TGT2
|
|
131.3166667
|
131.1566667
|
130.6833333
|
130.2
|
129.71667
|
131.476667
|
130.35
|
129.7388
|
129.3612
|
|
|
|
|
|
|
|
|
|
|
|
ZINC
|
BUY
ABOVE
|
TGT 1
|
TGT2
|
TGT3
|
SL
|
HIGH BRK
OUT
|
TGT 1
|
TGT2
|
|
|
124.4766667
|
125.6333333
|
126.025
|
126.41667
|
124.156667
|
125.1
|
125.9022
|
126.3978
|
|
PIV.POINT
|
SELL
BELOW
|
TGT 1
|
TGT2
|
TGT3
|
SL
|
LOW BRK
OUT
|
TGT1
|
TGT2
|
|
124.3166667
|
124.1566667
|
123.5333333
|
122.875
|
122.21667
|
124.476667
|
123
|
122.1978
|
121.7022
|
|
|
|
|
|
|
|
|
|
|
|
ALUMINUM
|
BUY
ABOVE
|
TGT 1
|
TGT2
|
TGT3
|
SL
|
HIGH BRK
OUT
|
TGT 1
|
TGT2
|
|
|
105.165
|
105.65
|
105.925
|
104.935
|
104.935
|
105.6
|
106.0393
|
106.3107
|
|
PIV.POINT
|
SELL
BELOW
|
TGT 1
|
TGT2
|
TGT3
|
SL
|
LOW BRK
OUT
|
TGT1
|
TGT2
|
|
105.05
|
104.935
|
104.5
|
104.2
|
105.165
|
105.165
|
104.45
|
104.0107
|
103.7393
|
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