Gold prices rose slightly in early trade as geopolitical tensions in the Ukraine and Middle East

Gold prices rose slightly in early trade as geopolitical tensions in the Ukraine and Middle East

Gold futures prices rose slightly in early trade on Friday, with the help of the tensions in Ukraine and the Middle East.

At the Multi Commodity Exchange, GOLD October futures contract was trading at Rs 27845 up Rs 78, or 0.28 percent. Gold in morning session touched an intraday high of Rs 27848 and an intraday low of Rs 27791. So far 123 contracts have been traded on MCX exchange.

While, in the mean timn on MCX Gold  August futures contract was trading at Rs 27662 up Rs 36, or 0.13 percent. Price hit an intraday high of Rs 27693 and an intraday low of Rs 27651. So far 875 contracts have been traded.

On U.S. Comex Exchange, Gold  August futures contract traded at $1,292.60 a troy ounce, up 0.14%, after hitting an overnight session an intraday low of $1,288.00 and off an intraday  high of $1,305.60.

The United States believes, Russia is triggering artillery across the border in military posts of Ukraine, the State Department said on Thursday, a statement that Moscow is playing a more direct part in conflict Ukraine.

Also on the minds of traders is the cycle of violence in the Middle East since Israel and Gaza to Iraq and Syria.

 

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Posted in Commodity, MCX

Natural gas futures prices soar on rising supply report

Natural gas futures prices soar on rising supply report

Natural gas prices soar on Thursday after data showed United States reserves rose less than expected last week. The Energy Information Administration of the United States (EIA) reported Thursday morning that American natural gas inventories rose by 90 billion cubic feet for the week ended July 18.

NYMEX natural gas August futures delivery traded at $3.832 per million BTUs during U.S. trading, up 1.85%. The commodity hit a session intraday  high of $3.883 and a intraday low of $3.747.

NG August futures contract settled down 0.27% on Wednesday to end at $3.762 per million BTUs.

In the same week a last year, the reserves increased by 41 billion cubic feet. Reservations are 20.2% below their levels of a year ago and 23.5% below the five year average.

It is expected that the colder to continue in the Midwest and Northeast, and more of the same temperatures are expected next week. It is expected that the demand for cooling to be low, as a resultand that it should help to build inventories for both winter and support the price of lowest natural gas.

The EIA reported that inventories in the United States working natural gas amounted to 2.22 trillion cubic feet, some 683 billion cubic feet below the five-year average of 2.9 trillion cubic feet. Working gas in storage totaled 2780000 million cubic feet in the same period a year ago. Inventories of natural gas continue to rise, but remain well below the underside of the range of five years.

Natural gas prices have succumbed to heavy selling pressure in the last sessions as a shot cooler temperatures moved through the Midwest and Northeast regions densely populated.

On demand for natural gas tends to move in the summer based on the use of heat and air conditioning.

At the Multi Commodity Exchange, Natural gas July futures  prices rose 2.07 per cent to Rs 231.40.

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Posted in Commodity, MCX

Gold holds near $1,300, physical demand eyed ongoing concerns in Ukraine and Gaza

Gold holds near $1,300, physical demand eyed ongoing concerns in Ukraine and Gaza

Gold prices remained stable on Wednesday in Asia after soaking overnight, and seemed likely to hold above $ 1,300 an ounce in the short term because of ongoing concerns about crises in Ukraine and Gaza.

But the weak physical demand in Asia over the summer period in quiet season could undermine support for any price rises and even stop providing a floor if prices were falling.

Spot gold little changed at $ 1,306.61 an ounce by 0627 GMT, having lost 0.4 percent in the previous session, under pressure from stronger equities.

In the USA Exchange, gold for August futures delivery fell by 0.08% or $ 1.00, to trade at $ 1307.70 a troy ounce during early European morning hours. Prices took place in a narrow range between $ 1305.60 and 1309.30.

Futures were likely to find support at $ 1298.10, the session low of July 17 and resistance at $ 1,325.50, the session high of July 18.

A Reuters survey on Tuesday showed that analysts and traders expected that the prices of gold to average $ 1,277 for the entire year as return monetary policy to normal and demand from Asia is weak.

Demand on Asia, home to major buyers from China and India, has down sharply after heavy purchases last year, when the prices of gold plummeted 28 percent.

Apart from seasonality and higher than normal in 2013 purchases, the possibility of a further decline in prices is also maintaining buyers away, traders said.

Bullion, however, currently receiving well supported by geopolitical tensions in the world. The metal is seen as an alternative to riskier assets such as equities investment.

Gold remained supported as tensions between Russia and the West remained high a result of the bombing of a passenger airplane Malaysia in eastern Ukraine last week, while Israel’s ground offensive in Gaza was also targeted.

SPDR Gold Trust said its holdings rose 1.5 tonnes to 804.84 tonnes on Tuesday to demand safe haven assets.

Gold futures prices on MCX were also trading with marginal gains on Wednesday early morning trade session.  MCX Gold October futures contract was trading at Rs 28065 up Rs 94, or 0.34 percent. Gold touched a session high of Rs 28065 and a session low of Rs 27991.

 

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Posted in Commodity, MCX, Stocks Market

Gold futures prices slip lower on profit-taking, safe-haven bids support after Malaysian airliner crash

Gold futures prices slip lower on profit-taking, safe-haven bids support after Malaysian airliner crash

Gold futures edge fell lower on Friday, since the operators locked-in profits wake of the recent upward trend in the precious metal due to increasing safe-haven demand in the midst of geopolitical tensions in Ukraine and the Middle East. But the metal is further supported by a wave of risk aversion after a Malaysian aircraft was shot down in eastern Ukraine, killing nearly 300 people.

At the US Comex Exchange, gold for August futures contract was quoted at $ 1,312.60 a troy ounce during European afternoon trade, down 0.33%. August gold contract settled 1.32% higher on Thursday to close at $ 1,316.9 per troy ounce

Spot gold was fallen 0.1 percent to $ 1315.40 an ounce at 0254 GMT. Asian shares slumped in early trading and a decline in Treasury yields pushed the dollar after news of the felled Malaysia Airlines plane sent investors running in defensive assets.

The stock lost 13% to 19.5 sen as of 9:59 am in Kuala Lumpur, to drop this year runs to 37%, while Malaysia Airports Holdings Bhd fallen 4.2%. The FTSE Bursa Malaysia KLCI Index fell 0.4% and 0.4% Malaysian ringgit weakened versus the dollar. The Bloomberg World Airlines Index fell 0.2%, after a decline of 2% on Thursday amid speculation that the accident will deter flyers.

The crash came a day after the USA and the EU announced another round of sanctions against Russia, after the annexation of Crimea in April and the ongoing tensions in the rest of Ukraine. The package of the United States was the major round of UN sanctions to date.

Precious metal also found support after Israel said late Thursday starting a ground war in Gaza after 10 days of air and ship bombing not succeeded in stopping Palestinian rocket attacks.

Gold, seen like an alternative investment in times of geopolitical concerns, rose 1.5 percent at the previous session after the news broke airplane accident, a Ukrainian official said was caused by a missile fired by militants pro-Russian .

The Happening sharply raised the shareholdings in a dispute between Kiev and Moscow pro-rebels has been occurring for months, and has increased tensions between Russia and the West.

However, the metal has dropped and nearly 2 percent in the week after a six-week winning run, as fears of financial problems in a molten Bank of Portugal and as investors worry about a hike sooner expected in interest rates in the United States.

On a measurement of investor confidence, SPDR Gold Trust exchange-traded fund backed world’s largest gold, said its holdings fell 2.69 tonnes to 803.34 tonnes on Thursday.

“We hope generate high volatility in gold, as well as a lean to climb over dip” 100McxTips Commodity Futures analysts said in a research note, quoted of geopolitical tensions.

At the Multi Commodity Exchange, gold August futures fell by Rs 44, or 0.16 per cent to Rs 28,155 per 10 grams in early morning trade.

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Posted in Commodity, Stocks Market

Rise in gold prices higher than most equity markets, should you invest in gold this year

Rise in gold prices higher than most equity markets, should you invest in gold this year

If you thought the equity investment and the kinds of higher risk assets was the “in thing”, think again! The increase in the prices of gold in the first quarter of this year has been lot higher than most equities markets, excluding India. Yields have also been exceeding inflation based on National Consumer Price Index in India, which ranged between 8.79 percent and 7.31 percent over this period.

“So far in this year, gold has risen 9.2 percent. This surprised many participants in the market like the majority of Commodity Advisory had predicted that lower prices. Some investors may used the pricing adjustment from last year to buy gold, but investment demand has stayed lukewarm, “said the World gold Council (WGC) in its recent press investment commentary for the first half of this year.

Gold has continued to recover in escalating geopolitical risks in the Middle East and Russia, and rising the financial risks in Europe and return to the volatility of the equity markets, according to a weekly review of ETF Securities Ltd (ETFs).

To the real interest rates slope and potential cracks that make at the historic market rally of 5 + years equities, gold trends positive. Some remaining cautious diversification towards safer assets H2 the tendency has been early, ETFS said .

“So far, that’s good prices are rising, volatility has been reduced and gold has challenged the bearish bias so many gold analysts proclaimed in early 2014. Early indicators suggest that demand from consumers remains tough even after a record year in 2013 .. The net purchases by Central banks have collected by adding about 180 tons to official reserves January to 1 May. while jewelery demand had its best first quarter since 2005, “said the note.

In comparison, most of the global markets have surged less, other landmarks of India – BSE Sensex and Nifty (National Stock Exchange) – which increased by 20 percent each during this period ahead of Narendra Modi led-NDA government victory in Election 2014.

Sorted by WGC, only a few goods saw a perform better: selected commodities (such as grains, nickel and palladium); Indian stocks (who benefit from the Bharatiya Janata Party scan the elections); and REITs in the United States.

Analysts also ascribe the surge in gold to geopolitics situation in West Asiathat created an uproar in higher risk assets such as equities. “The geopolitical situation in Iraq and Syria has established panic situations as petroleum markets and equities market worldwide. Secondly, besides the U.S. and India, the equities markets have not done spectacularly well. Thus, people chose to invest in gold, given the low price and low volatility. Gold turned out to be a steal investing and a cover in times of uncertainty. More than, prices had seen a tremendous fix before and were in a bearish mode. It also attracted investors to the yellow metal, “said commodities analyst.

The start of 2014, the for precious metals closed the week with year earnings to date over the 6.5% increase y-o-y date on the S & P 500 index. FOMC minutes of the meeting published the last week pointed out that some Fed policy makers believe that “market players were insufficient factoring on the uncertainty about the trajectory of the economy and monetary policy.” Gold rose strongly with the VIX volatility index, which ended the week at 12.1 versus to 10.3 the previous week, which was the lowest rate since February 2007. gold must be a major payee if the volatility again the equity markets.

WGC thinks investors might benefit through the addition of gold as a hedge to their portfolios, irrespective of whether they see this as a tactic to current market conditions or any part of an overall strategy to manage long-term risks answer.

Note WGC says, “Gold helps reduce the volatility of long-term portfolio, acting as a diversificador and it can help increase risk adjusted yield. Some investors may see the current climate of lower volatility as a chance to add the gold, considering that, in addition, the gold must be seen as a strategic element portfolio. “

 

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Posted in Commodity, MCX, Stocks Market

Gold prices have started rising again, holds near 4-week low ahead of Yellen testimony

Gold prices have started rising again, holds near 4-week low ahead of Yellen testimony

After yesterday’s decline, gold prices have started rising again. On MCX is nearly 0.5 per cent and Comex price of gold has increased 0.2%.

Gold futures edge held near four-week low the prior session on Tuesday, as investors awaited the semiannual testimony of Federal Reserve Chair Janet Yellen on Capitol Hill at the end of the day.

Gold on Tuesday, scrambling to get beyond the losses caused by the sharp night profit-taking and the stronger global stock that battered attractive safe haven metal.

Spot gold had begun to enhance mildly to $ 1308.90 an ounce at 0637 GMT, after falling by over 2 percent on Monday – its biggest one-day drop since December. Gold hit a low of $ 1,302.90 at the last session, its lowest since June 19.

On the other hand, U.S. gold for delivery in August entered in a 0.2%, or $ 2.60, to trade at $ 1309.30 a troy ounce during early European morning hours. Prices stay within a narrow range between $ 1306.70 and $ 1310.90.

At MCX Gold August contract was trading at Rs 27910 up Rs 148, or 0.53 percent. Gold  touched an intraday high of Rs 27929 and an intraday low of Rs 27810.

Gold had gone up to a four-month high near $ 1,345 last week as financial problems on top of the Bank of Portugal rekindled fears of a renewed banking crisis in the euro zone, but those fears have vanished now .

Market participants remained cautious ahead of Fed President Yellen testifies before Congress later in the session amid speculation as to whether the central bank will begin raising interest rates.

The minutes meeting of Fed June policy released last week, the central bank envisages close October to its stimulus package of bond buying, but hint at a timetable of when interest rates may start up later.

Meanwhile, SPDR Gold Trust – the world’s largest gold-backed exchange-traded fund – said its holdings rose 8.68 tonnes to 808.73 tonnes on Monday.

 

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Posted in Commodity, MCX

Gold prices eases but still near 4-month high on safe-haven bids

Gold prices eases but still near 4-month high on safe-haven bids

Gold marked low on Monday as Asian stock markets gained momentum, but the metal hovered near a 4-month high hit last week in safe haven demand of climbing tensions in the Middle East and Ukraine.

International commodity markets, gold – silver are trading with losses. Comex gold with 0.08 per cent drop to $ 1336.30 an ounce, while silver is a slight decline of 0.15 percent is trading at $ 21.

The Goldman Sachs once again by the end of this year, gold prices could slip to $ 1050. Today’s mild weakness of the rupee against the dollar.

Spot gold was slipped 0.2% to $ 1334.89 an ounce at 0301 GMT, after posting its sixth consecutive weekly gain last week.

At MCX Gold August futures prices fell 0.96 per cent to Rs 28084. However, silver September futures declined 1.32 percent strongly is trading at Rs 45 461.

The metal had reached $ 1.345, the highest level since March, on Thursday following concerns about the financial stability of the largest listed bank Banco Espirito Santo of Portugal hammered stocks and equities fears of a European banking crisis.

However, concerns declined slightly on Friday after the central bank of Portugal said that he was convinced that the lender is able to meet its capital requirements.

“However, the demand for safe haven of gold is still there because of the stresses in the Middle East. Portugal was just one of the reasons why offers safe haven, geopolitical situation remains changed,” said the 100McxTips.com.

Gold is considered as an alternative to risky assets in times of geopolitical uncertainties and financial investment.

The data from the Commodity Futures Trading Commission have shown that hedge funds and money managers stepped up their bullish bets with gold and silver futures and options in the week ended July 8, underscoring the appeal of safe haven metal.

Next week, investors will be alert for testimony on monetary policy by the Fed chairman, Janet Yellen, and key data on retail sales in June.

 

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Posted in Commodity, MCX
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