MCX Commodity Market Updates Today 30 nov 2012

Bullion: Domestic gold futures were trading 1% lower as the sharp rise in rupee against the dollar weighed on prices. On COMEX, the metal edged higher on short covering and bargain buying after the metal fell 1.5% on Wednesday. 

Energy: Crude oil futures on domestic exchanges were flat with a negative bias as the effect of bullish overseas cues was offset by the rise of 1.1% in the rupee against the US dollar. Global prices of crude oil got  a boost from optimism US policymakers would reach a budget deal to prevent the so-called "fiscal cliff" in the country once the proposed tax hikes and spending cuts come into effect in January. 

Metals: Base metals on the MCX, barring copper, were trading  firm tracking London Metal Exchange. However, gains were modest, as prices on the LME, though in green, were in a range with the market worried about the impending US "fiscal cliff" and as details of the recently announced steps to help Greece lower its debt remain sketchy. 

Commodity markets negative in opening trade

The Multi Commodity Exchange (MCX) COMDEX opened negative after a fall of 0.79% on Wednesday. 

It is currently trading lower by 1.81 points, or 0.05%, at 3,851.49 at 10.01 a.m. after opening at 3,852.29.

Other index like MCX Metal is trading downward by 17.41 points, or 0.32%, at 5,430.62 after opening at 5,445.40.

MCX Agri is trading up 6.68 points, or 0.29%, at 2,312.76 after opening at 2,289.31.

Meanwhile MCX Energy is trading up 9.36 points, or 0.27%, at 3,426.86 after opening at 3,428.04.

MCX SILVERM Nov contract trades higher

SILVERM prices on MCX were trading higher. At 11:20 hrs MCX SILVERM November contract was trading at Rs 63825.00 up Rs 567.00, or 0.90%. The SILVERM rate touched an intraday high of Rs 63965.00 and an intraday low of Rs 63351.00. So far 17670 contracts have been traded. SILVERM prices have moved down Rs 135.00, or 0.21% in the November series so far.

At 11:20 hrs MCX SILVERM February contract was trading at Rs 65836.00 up Rs 504.00, or 0.77%. The SILVERM rate touched an intraday high of Rs 65988.00 and an intraday low of Rs 65359.00. So far 4857 contracts have been traded. SILVERM prices have moved up Rs 10346.00, or 18.64% in the February series so far.

At 11:20 hrs MCX SILVERM April contract was trading at Rs 67331.00 up Rs 544.00, or 0.81%. The SILVERM rate touched an intraday high of Rs 67473.00 and an intraday low of Rs 67000.00. So far 286 contracts have been traded. SILVERM prices have moved up Rs 3252.00, or 5.07% in the April series so far.

MCX SILVERMIC Feb'13 contract trades higher

SILVERMIC prices on MCX were trading higher. At 13:47 hrs MCX SILVERMIC November contract was trading at Rs 62432.00 up Rs 279.00, or 0.45%. The SILVERMIC rate touched an intraday high of Rs 62516.00 and an intraday low of Rs 62082.00. So far 27295 contracts have been traded. SILVERMIC prices have moved up Rs 1542.00, or 2.53% in the November series so far.

At 13:47 hrs MCX SILVERMIC February contract was trading at Rs 64439.00 up Rs 284.00, or 0.44%. The SILVERMIC rate touched an intraday high of Rs 64490.00 and an intraday low of Rs 64125.00. So far 5984 contracts have been traded. SILVERMIC prices have moved up Rs 7939.00, or 14.05% in the February series so far.

At 13:47 hrs MCX SILVERMIC April contract was trading at Rs 65850.00 up Rs 257.00, or 0.39%. The SILVERMIC rate touched an intraday high of Rs 65918.00 and an intraday low of Rs 65570.00. So far 599 contracts have been traded. SILVERMIC prices have moved up Rs 2235.00, or 3.51% in the April series so far.

MCX Comdex ends higher 0.73%

MCX Comdex, the composite index of metals, energy and agro-commodities was up by 0.73% to 3,804.77, MCX Metal index was up by 0.61% to 5,319.68 and MCX Energy index was up by 0.87% to 3,428.77. 

Bullion:

Gold December 12 contract was up by 0.12% to Rs 31,851.00 per 10 grams, GoldM December 12 contract was up by 0.12% to Rs 31,862.00 per 10 grams, Goldguinea November 12 contract was up by 0.23% to Rs 25,409.00 per 8 grams, GoldPetal November 12 contract was up by 0.22% to Rs 3,183.00 per grm and GoldPetalDel November 12 contract was up by 0.56% to Rs 3224.00 per grm. Silver December 12 contract was up by 0.20% to Rs 62,172.00 per kg, SilverM November 12 contract was by up by 0.25% to Rs 62,173.00 per kg, SilverMIC November 12 contract was up by 0.21% to Rs 62,173.00 per kg and Silver1000 December 12 contract was up by 0.71% to Rs 62,500.00 per kg. 

Metals: NickelDecember 12 contract was up by 0.92% to Rs 932.30 per kg, nickelm January 13 contract was up by 0.98% to Rs 940.10 per kg, copper November 12 contract was up by 0.54% to Rs 428.10 per kg, copperm  November 12 contract was up by 0.53% to Rs 428.10 per kg, lead mini November 12 contract was up by 0.34% to Rs 119.25 per kg, lead November 12 contract was up by 0.34% to Rs 119.25 per kg, zinc January 13 contract was up by 0.56% to Rs 107.15 per kg, zinc mini January 13 contract was up by 0.33% to Rs 107.10 per kg, aluminium November 12 contract was up by 0.33% to Rs 106.55 per kg, alumini November 12 contract was up by 0.33% to Rs 106.55 per kg while steelRPR December 12 contract was down by 0.07% to Rs 29,990.00 per MT.

Energy: Brcrude oil December 12 contract was up by 0.48% to Rs 6,130 per barrel, Crude oil  December 12 contract was up by 0.62% to Rs 4,853.00 per barrel and Natural gas January 13 contract was up by 0.63% to Rs 224.70 per MMBTU.

Agriculture:  Menthaoil January 13 contract was up by 3.83% to Rs 1,339.30 per kg, cardamom December 12 contract was up by 3.63% to Rs 941.60 per kg, kapaskhali January 13 contract was up by 0.55% to Rs 1464.00 per 100 kgs while CPO January 13 contract was down by 0.31% to Rs 445.10 per 10 kgs and cotton November 12 contract was down by 0.25% to Rs 16,190.00 per bales.

Gainer/ losers:  

Menthaoil January 13 contract was up by 3.83% to Rs 13,39.30 per kg while CPO January 13 contract was down by 0.31% to Rs 445.10 per 10 kgs.

Commodity markets positive in opening trade

The Multi Commodity Exchange (MCX) COMDEX opened positive after a rise of 11.59 points, or 0.31% on Wednesday.

It is currently trading higher by 19.83 points, or 0.52%, at 3,797.08 at 10.07 a.m. after opening at 3,788.49.

Other index like MCX Metal  is trading upward by 21.51 points, or 0.41%, at 5,309.17 after opening at 5,305.04.

MCX Agri is trading up 9.28 points, or 0.41%, at 2,277.28 after opening at 2,272.26.

Meanwhile MCX Energy is trading up 25.42 points, or 0.75%, at 3,424.61 after opening at 3,408.68.

Commodities Analysis: MCX Comdex ends marginally higher by 0.3%

Commodities Analysis: MCX Comdex ends marginally higher by 0.3%: MCX Comdex,  the composite index of metals, energy and agro-commodities was up by 0.30% to 3,770.67, MCX Metal index was up by 0.24% to 5...

MCX Comdex ends marginally higher by 0.3%

MCX Comdex, the composite index of metals, energy and agro-commodities was up by 0.30% to 3,770.67, MCX Metal index was up by 0.24% to 5,252.85 and MCX Energy index was up by 0.41% to 3,418.05.

Bullion:

Gold December 12 contract was up by 0.12% to Rs 31,678.00 per 10 grams, GoldM December 12 contract was up by 0.12% to Rs 31,690.00 per 10 grams, Goldguinea November 12 contract was up by 0.18% to Rs 25,293.00 per 8 grams, GoldPetal January 13 contract was up by 0.22% to Rs 3,225.00 per grm and GoldPetalDel December 12 contract was down by 0.77% to Rs 3,222.00 per grm. Silver December 12 contract was up by 0.50% to Rs 61,187.00 per kg, SilverM November 12 contract was by up by 0.49% to Rs 61,192.00 per kg, SilverMIC November 12 contract was up by 0.50% to Rs 61,193.00 per kg and Silver1000 November 12 contract was up by 0.47% to Rs 61,078.00 per kg.

Metals:
Nickel November 12 contract was up by 0.32% to Rs 886.80 per kg, nickelm January 13 contract was up by 0.33% to Rs 905.90 per kg, copper November 12 contract was up by 0.49% to Rs 423.85 per kg, copperm  November 12 contract was up by 0.49% to Rs 423.85 per kg, lead January 13 contract was up by 0.29% to Rs 119.65 per kg, lead mini November 12 contract was up by 0.21% to Rs 120.20 per kg while zinc November 12 contract was down by 0.09% to Rs 105.25 per kg, zinc mini November 12 contract was down by 0.09% to Rs 105.25 per kg, aluminium November 12  contract was down by 0.33% to Rs 106.90 per kg, alumini November 12  contract was down by 0.33% to Rs 106.90 per kg and steelRPR January 13 contract was down by 0.81% to Rs 30,660.00 per MT.

Energy:  
Brcrude oil January 13 contract was up by 1.12% to Rs 6,058.00 per barrel,Crude oil  December 12 contract was up by 0.43% to Rs 4,867.00 per barrel and Nature gas November 12 contract was up by 0.62% to Rs 210.60 per MMBTU.

Agriculture:  
Menthaoil November 12 contract was up by 2.87% to Rs 1,254.90 per kg, cardamom January 13 contract was up by 2.10% to Rs 936.20 per kg, cotton November 12 contract was up by 0.31% to Rs 16,230.00 per bales while CPO January 13 contract was down by 0.18% to Rs 447.40 per 10 kgs and kapaskhalia January 13 contract was down by 0.24% to Rs 1,456.50 per 100 kgs.

Gainer / losers:  

Menthaoil November 12 contract was up by 2.87% to Rs 1,254.90 per kg while steelRPR January 13 contract was down by 0.81% to Rs 30,660.00 per MT.

MCX Comdex trades down 7 points

The Multi Commodity Exchange (MCX), COMDEX is trading  down by 7.18 points or 0.19%, at 3,746.96 after opening at 3,754.35. (02.13 p.m.)

Other index like MCX Metal  is trading downward by 9.39 points, or 0.18%, at 5,245.66 after opening at 5,255.60.

Meanwhile MCX Energy is trading up 0.17 points, or 0.01%, at 3,371.97 after opening at 3,376.16.

MCX Agri is trading down by 18.84 points, or 0.83%, at 2,248.96 after opening at 2,275.12.

Commodity markets positive in opening trade

The Multi Commodity Exchange  (MCX) COMDEX belled on a positive zone after a rise of 34.05 points or 0.92% on Wednesday.

It is currently trading  higher by 3.43 points, or 0.09%, at 3,757.57 at 10.04 a.m. after opening at 3,754.35.

Other index like MCX Metal is trading downward by 0.61 points, or 0.01%, at 5,254.44 after opening at 5,255.60.

MCX Agri is trading up 12.67 points, or 0.56%, at 2,280.47 after opening at 2,275.12.

Meanwhile MCX Energy is trading up 3.46 points, or 0.10%, at 3,375.26 after opening at 3,376.16.

Commodity markets open negative in opening trade

The Multi Commodity Exchange (MCX) COMDEX opened negative after a fall of 0.04% on Saturday.

It is currently trading  lower by 5.15 points, or 0.14%, at 3,699.01 at 10.01 a.m. after opening at 3,703.99.

Other index like MCX Metal is trading upward by 0.49 points, or 0.01%, at 5,212.52 after opening at 5,211.58.

MCX Agri is trading down by 22.98 points, or 1.05%, at 2,160.98 after opening at 2,162.94.

Meanwhile MCX Energy is trading down by 2.42 points, or 0.07%, at 3,324.40 after opening at 3,326.20.

Gold may trade in range of 31,200-31,500:

 Outlook on bullions, base metals  and energy segments:

Bullions: Bullion counter may remain sideways with upside bias on safe haven demand. Euro zone concerns are expected to keep upside capped. Meanwhile Dollar index can move in range of 80-82 levels. On domestic bourses, gold can trade in range of 31,200-31,500 while silver can trade in range of 59,000-60,500 in near term. Some fresh safe-haven demand is surfacing this week, amid concerns about the approaching U.S. fiscal cliff and about the European Union sovereign debt crisis. The fresh safe-haven demand in the gold market Thursday was further evidenced by very strong demand at a U.S. government treasury note auction at midday. 

Base metals: Base metals counter may remain on mixed path as some short covering can be seen after recent fall. Copper can trade in range of 413-419 in MCX while Lead can trade in range of 120-122 in MCX while Zinc may trade in range of 103-104.5 while Nickel may also trade in range of 865-885 in MCX and Aluminium can also trade in range of 103.50-105. Copper edged higher on Thursday in cautious trade ahead of a leadership transition in top metals consumer China, which may result in fresh economic stimulus measures, while concerns about weak demand and the U.S. economy capped the upside. Metals prices were pressured as the euro fell to a two-month low after the European Central Bank kept interest rates at a record low and said the euro zone economy showed little sign of recovering before the year-end. 

Energy: Crude oil can trade in range of 4,550-4,650 in near term. Crude oil ended higher on Thursday, recovering from a steep plunge in the previous session, but gains were only modest as trepidation over Europe`s economy and looming negotiations over the U.S. fiscal cliff weighed on the market. After U.S. President Barack Obama won a second term on Tuesday, anticipation is high that Democrats and Republicans will move quickly to avert the $600 billion package of automatic spending cuts and tax increases that could crush the U.S. economic recovery.Natural gas may remain on volatile note in range of 193-198 in MCX.  

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information.

Gold, Silver, Copper, Crude Updates Today 06 nov 2012

Bullion: Gold futures contracts were trading higher on domestic exchanges as the rupee fell to a seven-week low against the dollar. Precious metals prices are trading little changed on MCX today. We do not expect any major movement ahead of the US presidential elections which is likely to affect the US dollar thus, leading the direction for precious metals.

Metals: Base metal futures on the MCX were trading higher due to sharp fall in rupee against the US dollar, while benchmark contracts on the London Metal Exchange moved with a negative bias, as market remained cautious ahead of US election. Industrial metals prices are trading higher on international bourses today. We expect Lead and Aluminium prices to remain firm for the day on account of high physical premiums in major markets.

Support for November copper is seen at Rs.416 while Resistance is seen at Rs. 426. 

Energy: Crude oil prices are trading little changed on MCX today. We do not expect any major rise in the prices of oil on account of subdued US demand due to the Hurricane season.

MCX Commodity Market Updates Today 02 Nov 2012

Bullion: Gold futures were marginally lower on domestic exchanges, in line with the trend on the MCX. 

Metals: Base metal futures on the MCX traded higher tracking  a similar movement in parent contracts on the London Metal Exchange, where prices rose on bargain buying and following encouraging data from China. 

Energy: Domestic crude oil futures traded with a positive bias tracking a similar movement in benchmark contracts on the New York Mercantile Exchange, where prices gained marginally on bargain buying. 

Precious metals prices are trading lower on MCX today. In the evening session we have the Initial claims and unemployment rate data to be released by the US. Industrial metals prices are trading a tad lower on International bourses today. We expect prices to trade firm for the day on account of positive economic data from China and US. Crude oil prices are trading lower on MCX today. We expect prices to bounce back on account of positive economic data and firm Asian equity indices.