MCX Gold June futures up on hopes of customs duty cut

Standard

MCX Gold June futures up on hopes of customs duty cut

Prices of MCX gold futures gained on Wednesday. And futures are also trading up on the spot price on the Multi Commodity Exchange amid generalized that the government will announce a cut in tariffs on the metal in the next EU budget.

At MCX Gold for April futures delivery was trading at Rs 26242 up Rs 183, or 0.70 percent. Gold rate touched an intraday high of Rs 26301 and an intraday low of Rs 26,079. So far 1673 contracts have been traded on the Multi Commodity Exchange.

Also on the Multi Commodity Exchange, afternoon on Wednesday, while the June contract was trading at Rs 26,456, up 0.86%. Prices touched an Intraday high of Rs 26420 and an Intraday low of Rs 26394. This means that the two futures contracts were trading at a discount of Rs 352 and Rs 186, respectively, from the spot gold that was trading at Rs 26,642, said KheloMCX Commodity Advisory.

Snapping its four-day losing streak, in the national capital bullion marketplace, gold by 99.9 and 99.5 per cent purity recovered by Rs 100 each to Rs 27,070 and Rs 26,870 per ten grams respectively besides wedding season demand from jewellers and retailers, a firming global trend.

Gold rallied above the $ 1,200 level in the global marketplace in the perspective of Fed rate. Market observers said the witness gave the Fed more flexibility to move up the latest rates in June this year.

Gold in the Comex division of the New York Mercantile Exchange, for April delivery jumped $11.10, or 0.93%, to trade at $1,208.40 a troy ounce after hitting an Intraday high of $1,211.70.

To contact the KheloMCX Advisory visit here. Or Free trial Advisory Visit KheloMCX.com.

Commodity Free Trial Tips

Advertisements

MCX Gold June contract trades higher by 0.34% to Rs 26,308 per 10 grams

Standard

MCX Gold June contract trades higher by 0.34% to Rs 26,308 per 10 grams

MCX Gold futures contracts trade higher on Wednesday despite weak overseas cues.

At the Multi Commodity Exchange, gold for delivery in April was up by Rs 89, or 0.34 per cent, to Rs 26,308 per 10 grams. Gold prices hit an Intraday high of Rs 26342 and an Intraday low of Rs 26244. So far 980 futures contracts have been traded in MCX.

MCX Gold June contract was trading at Rs 26482 up Rs 77, or 0.29 percent.  Prices hit an Intraday high of Rs 26488 and an Intraday low of Rs 26445 on MCX.

Gold of 99.9 and 99.5 per cent purity plunged by Rs 510 each to Rs 27,190 and Rs 26,990 per 10 grams, a level last seen on January 3 at bullion market today on slackened demand from jewellers and retailers amid weak global cues.

Gold traded close to a six-week low by the optimism of Greek in the global market. The sources said Athens is intended to request an extension of six months of its loan agreement with its international lenders later in the day, relieving concerns about the country’s future in the euro zone.

On the Comex, New York Gold futures for April delivery quoted down by 60 cents, or 0.05%, to trade at $1,208.20 a troy ounce during European morning hours.

To contact the KheloMCX Advisory visit here. Or Free trial Advisory Visit KheloMCX.com.

mcx gold tips

MCX April futures contract trades higher 0.27 per cent to Rs 26,750 per 10 grams

Standard

MCX April futures contract trades higher 0.27 per cent to Rs 26,750 per 10 grams

MCX futures contract trades higher on Monday on global cues.

.At the Multi Commodity Exchange, gold futures April contract was gained by Rs 57, or 0.27 per cent, to Rs 26,750 per 10 grams in early morning trade after the precious metal climbed for the third straight day in global markets.

On wedding season demand and strong global cues, the domestic bullion marketplace, gold of 99.9 and 99.5 per cent purity moved up by Rs 70 each to Rs 27,700 and Rs 27,500 per ten grams respectively.

Meanwhile, gold rose 0.30 percent to $ 1,233.82 an ounce in Singapore, the highest since April 16.

On the Comex, US gold futures for April delivery fell 0.10% to $ 1228.30 a troy ounce.

Meanwhile, officials from Greece and the European Union were attributable to hold further talks on Monday following the discussions on a new debt deal last week ended without an agreement.

In the week ahead, investors will concentrate on minutes of the last meeting of the Federal Reserve for more instructions on when the central bank might start raising interest rates on Wednesday.

To contact the KheloMCX Advisory visit here. Or Free trial Advisory Visit KheloMCX.com.

MCX Crude Oil Tips

MCX Gold prices gains by Rs 119 to Rs 26,638 per 10 grams on global cues

Standard

MCX Gold prices gains by Rs 119 to Rs 26,638 per 10 grams on global cues

Today is the rupee appreciation against the dollar in domestic currency market. As MCX gold in the domestic market, with a 0.5 per cent rise, is trading above Rs 26,600.

In MCX futures trading today, speculators established new positions ahead of strong  signals overseas markets.

At the Multi Commodity Exchange (MCX), gold futures April delivery was quoted up by Rs 119, or 0.45%, at Rs 26,638 per 10 grams.

In the national capital bullion market, gold purity of 99.9 and 99.5 percent recovered by Rs 40 each to Rs 27,670 and Rs 27,470 per ten grams respectively.

Consistent with the overall trend, silver ready bounced by Rs 450 to Rs 38,100 per kg and weekly-based delivery by Rs 460 to Rs 37,640 per kg.

The international market is showing firmly in bullion prices. On the Comex, New York Gold futures April delivery was quoted up 0.77% to $1,230.10. The April contract ended Thursday’s session 0.09% higher at $1,220.70 an ounce.

Gold futures edge strengthened after the United States Department of Commerce said on Thursday that retail sales dropped 0.8% last, worse than expectations for a 0.5% drop month. Retail sales were down 0.9% in December.

USA. financial reports continued to weigh on the US dollar and as investors awaited more US data due later in the day.

To contact the KheloMCX Advisory visit here. Or Free trial Advisory Visit KheloMCX.com.

Commodity Free Trial Tips

Gold April futures down 0.19 per cent to Rs 26,892 per ten grams on profit-booking

Standard

Gold April futures down 0.19 per cent to Rs 26,892 per ten grams on profit-booking

Prices of gold futures on MCX yield today, as the participants were handed in  profit-booking at current levels despite the precious metal rising in the global marketplace.

At the Multi Commodity Exchange, gold futures for April delivery fell by Rs 52, or 0.19 percent, to trade at Rs 26,892 per 10 grams.

Gold of 99.9 and 99.5 per cent purity traded higher by Rs. 90 each to Rs. 27,880 and Rs. 27,680 per ten grams respectively, at the bullion market in Delhi today on emergence of buying by jewellers and retailers at existing levels amid a firm global trend. The precious metal had lost Rs. 510 in last two sessions.

Gold rose in the global trade market in the early morning, as investors remained cautious on the evolution of Greek debt negotiations.

Globally, gold rose on the Comex division of the New York Mercantile Exchange, for April delivery was inserted at 70 cents, or 0.06%, to trade at $ 1242.20 a troy ounce during European morning trade hours.

Gold’s gains were capped in the middle of increased potential for an earlier rise in interest rates by the Federal Reserve, following strong payrolls report from the United States last week, which saw the market agents anticipate expectations for the first rate hike by the Fed to June.

To contact the KheloMCX Advisory visit here. Or Free trial Advisory Visit KheloMCX.com.

MCX Free trial Tips on mobile

MCX Gold June futures up by 0.4% on positive cues from global markets

Standard

MCX Gold June futures up by 0.4% on positive cues from global markets

MCX Gold futures were climbed today as profiteers created new positions amid positive indications from global markets, as investors remained cautious of events in Greece.

At the Multi Commodity Exchange, gold futures prices for June contract was up by Rs 109, or 0.40%, to Rs 27,070 per 10 grams.

In the national capital bullion market, gold purity of 99.9 and 99.5 percent fell by Rs 410 each to Rs 27,790 and Rs 27,590 per 10 grams, respectively, a level not seen since the January 14.

Traders said besides loosening demand at present levels jewelers and retailers, a weak global trend mainly removed low bullion prices.

Also on the Comex, gold futures for April delivery tacked on $7.00, or 0.57%, to trade at $1,241.60 a troy ounce amid Greece jitters.

The euro was under pressure as concerns over the Greek debt talks continued to weigh on market sentiment.

To contact the KheloMCX Advisory visit here. Or Free trial Advisory Visit KheloMCX.com.

 

Commodity trading advisory

MCX Gold rise 0.5% to Rs 27,391 per 10 grams amidst a firming global trend

Standard

MCX Gold rise 0.5% to Rs 27,391 per 10 grams amidst a firming global trendPrices of gold futures climbed at MCX trading on Friday as speculators were given to expanding their positions amid a firming global trend.

At the Multi Commodity Exchange, gold futures for June delivery gained Rs 135, or 0.49%, to Rs 27,545 per 10 grams.

In Delhi bullion market, gold of 99.9 and 99.5 per cent purity fell by Rs 100 each to Rs 28,200 and Rs 28,000 per 10 grams, respectively on easing demand from jewellers and retailers at prevailing levels. Gold prices gained Rs 210 on Thursday.

KheloMCX Commodity Advisory Analysts attributed the rise in gold futures, as traders were looking ahead to the release of the latest U.S. Jobs Data later Friday, for further indications on the strength of the recovery in the labor market.

In the global marketplace gold  rose before a report of US jobs that could give clues on the schedule of the US interest rate increasing as investors raised holdings in exchange-traded products to a up to four months. And as Greece worries continued to dominate sentiment.

Spot gold rallied as much as 0.3 percent to $ 1,268.91 an ounce and traded at $ 1,267.96 by 15:06 in Singapore. On the Comex New York, gold futures for April delivery were up 0.39% to $1,267.60.

The gold market is likely to shift the focus of Greece and the Eurozone and oil, and an increase in oil prices tends to trigger metals buyers shopping for funds commodity index funds.

To contact the KheloMCX Advisory visit here. Or Free trial Advisory Visit KheloMCX.com.

Commodity Free Trial Tips on Mobile