MCX Silver futures falls 1.70% as the dollar strengthened

MCX prices of silver futures fell 1.7% to Rs 35,755 per kg today, with feeble signs of global market amid stronger US dollar.

"The fall in the rupee against the dollar has soared. The price of one dollar has reached beyond Rs 62. After FOMC minutes, the rupee has come at 9-month low. But despite the weakness in the rupee in the domestic market did not support gold and silver." said 100McxTips bullion experts.

Today, a sharp decline is visible in gold and silver. With 1 per cent decline on MCX gold is trading below Rs 26,450. As firmly in the dollar price of precious metal in the international market has come down.

At global market, Silver for delivery in December was down 0.5 percent to $ 16.215 an ounce in New York.

100McxTips a Indian MCX Commodity advisory and generally offers services & news about in bullion gold silver trading market. Follow company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @100mcxtips 

Aluminum to Copper futures fall to 1-week low as stronger dollar erodes demand

Aluminum prices dropped to the lowest this month in London and copper futures slid to a one-week low on Tuesday due to a stronger US dollar erodes commodity demand as an alternative investment. And speculation slower growth in China curb demand for heavy industrial metal.

The dollar traded close to the highest standard since 2009 versus a basket of 10 currencies and commodity price index to Bloomberg was nearing a minimum of five years. Retail sales increased for the eighth month on October 9, according to a Bloomberg survey of economists ahead of the data must Nov. 14, adding to signs of continuing economic recovery in US.

Aluminium futures delivery in three months decreased by 0.9 percent to $ 2,016 a ton at 12:31 pm on the London Metal Exchange, after earlier reaching $ 2.008, the lowest level since Oct. 30. Cash Copper trading at $ 60.75-a-prize-ton for three-month contract LME below $ 62 yesterday.

On the Comex division of the New York, copper futures contracts for December touched a 1 week low of $ 2.991 a pound, the lowest level since 5 Nov. On last session copper traded at $ 2.995 a pound in the morning Europe, down 2.5 cents, or 0.83%.

Copper also withdrew after data showed daily inventories of followed by the LME metal was expanded for a second session to 162.025 tons. Requests for withdraw copper warehouses fell during ninth session to 29,375 tons.

The greenback stayed that way bidding amid expectations the Federal Reserve will raise interest rates ahead of the other major peers.

The dollar index, which tracks the performance of the greenback versus a basket of six major currencies, picked up 0.18% to trade at 88.03, just below up to four years of 88.31 beaten last week.

A stronger US dollar generally weighs on copper as it dampens the metal's appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies.

 While, signs of a slowdown in Chinese economic growth and little hope for stimulation measures broad-based central bank weigh more.

China is the biggest consumer of world copper, representing nearly 40% of world consumption last year.

Offloading in MCX base metals has increased. Copper on the London Metal Exchange is the pressure, the effect is visible on domestic market. MCX Copper nearly 1 per cent  decline to Rs 408.2. Aluminum also declined by 1.25 per cent.

100McxTips a Indian MCX Commodity advisory and generally offers services & news about in bullion gold silver trading market. Follow company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @ 100mcxtips

 

Nickel futures prices moves up on supply concerns boost demand

Nickel futures advanced a second straight day in the direction of most two-day ahead in five months, on speculation that lower prices will drive consumer buying and minimization of production of a lower grade alternative.

On the domestic front, MCX nickel November delivery prices rose by 0.78 per cent or Rs 7.50 to Rs 965.10 per kg in futures trade today as the participants created speculative positions, driven by strong overall trend . Moreover, the growing demand for alloy-makers in the domestic spot markets also affected metals prices.

"We've seen a good physical purchase interest after the recent dealing prices falls. And investors are now redirecting on the basics including ore export ban in Indonesia." metals experts said.

On global front, Nickel for delivery in three months at the LME rose 1.9 percent to $ 15.840 a ​​tonne in Hong Kong, bringing gains in last two days to 7.1 percent, the largest from May 19. The prices yesterday dropped to a minimum of $ 14,690, the weakest since March. The metal is up 13 percent this year as the constraints of Indonesia will conduct a one-month strike starting from next week Nov. 6.


100McxTips a Indian MCX Commodity advisory and generally offers services & news about in bullion gold silver trading market. Follow company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @ 100mcxtips

Copper futures trades 2-week higher on Indonesia supply worries

Copper futures quoted close to the highest in nearly two weeks as a strike lies ahead for the third largest mine in the world have fueled supply worries.

On the Comex, copper futures for December delivery gained a session high of $ 3.082 a pound, the most since Oct. 15.

The metal rallied as much as 0.3 percent in London after gaining 0.6 percent yesterday to close at the highest since October 14. Copper for delivery in three months on the London Metal Exchange gained 0 3 percent to $ 6,746.50 a tonne in Hong Kong, went to the first monthly advance since July.

The workers of the Freeport-McMoRan Grasberg mine in Indonesia will conduct a one-month strike starting from next week Nov. 6, a union official said on Monday, more than concern for employee safety.

Grasberg mine is among the world's biggest copper mines. In 2013, Freeport sold 885 million pounds of copper from Grasberg.

Today on MCX domestic market, in the base metals copper is showing mild gains. MCX Copper with a gain of 0.7 per cent trading around Rs 419.



100McxTips a Indian MCX Commodity advisory and generally offers services & news about in bullion gold silver trading market. Follow company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @ 100mcxtips

Nickel Futures Drops Near Seven-Month Low as Growth Concern Linger

Nickel futures dropped to lowest price since March in London in the midst of persistent concern demand growth can stagnate in China, the biggest consumer of industrial metals, and European with the economies weaken.

Chinese economic growth will slow to 7.2 percent this quarter, Song Guoqing, a faculty member of the People's Bank of China monetary policy advisory board, said on October 25. Business confidence in Germany, the biggest economy in the eurozone, fell for the sixth month, the business climate index Ifo institute showed today.

Nickel futures delivery in three months fell 1.7 percent to $14.759 a tonne on the London Metal Exchange, afterwards in early touching $ 14,733, the lowest since March 4. Nickel stocks were monitored by the LME rose from 90 tons to a record 378,222 tonnes, daily data showed.

On the domestic front, MCX Nickel futures prices declined 0.80% today as speculators cut their exposures amid a weak tendency overseas. At the Multi Commodity Exchange, futures prices of nickel for delivery in October fell by Rs 7.20, or 0.80%, to Rs 906.10 per kg.

The metal had crept 4.4% last week and dropped for the seventh consecutive week, the longest streak of weekly losses since 2001.

German orderbook fell 5.2 percent over the prior year, in August, data from the Federal Statistical Office showed last week. Nickel is used mostly to make stainless steel, which has applications in building including fixtures and door liner, according to BSSA.

100McxTips a Indian MCX Commodity advisory and generally offers services & news about in bullion gold silver trading market. Follow company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @ 100mcxtips

Indian Bullion Industry Body Calls Government to Roll Back Gold Imports Tariff

Indian Bullion Gems and Jewellery Trade Federation (GJF) has requested the Government to roll back tariff in gold by four per cent and hold only "beyond excellent" gold necessary for making jewelry.

At an official statement released here today, the GJF was looking for reduction of import tariffs at least four per cent from the current 10 percent to leave 10 percent difference between the import duties for gold and silver jewelry finished capita, compared with the raw material with a view to deter lower quality jewelry foothold in India.

It also endeavored to implement the 80:20 rule just beyond 55 tonnes of gold it takes a month for jewelry making. Indian bullion traders needs around 650 tons of gold to make jewelry.

Gold can not itself be held liable for the current account deficit. Gold imports in dollar terms fell dramatically from $ 50 billion in 2011-12 level of $ 30 billions levels in 2013-14, the statement said.

Gold imports to Indian bullion traders in US dollar terms has been reduced by about 20 to 25 percent and the size of imported gold has also been reduced in equal measure, GJF chairman Haresh Soni said in the news.

Head of the Council of Economic Advisers government ex C Rangarajan had also said that India can withstand $ 30 billion the value of gold imports, Soni said.

"Over the past three years, the Gold Control Raj has threatened the livelihoods of hundreds of thousands of employees and small jewelers. Industry with direct manpower 25 lakh is the second biggest employer do after in the software industry," said director Ashok Minawala GJF.

As RBI continue to restrict gold, the Government is not only losing revenue but also to encourage a parallel economy, that is putting pressure on the rupee because over dollars are needed to ensure a supply of smuggled goods. By the cartel for regulated channels and unlawful gold suppliers safe small jewelers to get their provision without extensive premium 15-18 percent, putting small jewelers and employees out of business, said representatives of GJF.

In May, the RBI relieved certain restrictions on gold imports that prevailed last year to deal with a sharp rise in the current account deficit of the country. As part of that, the RBI allowed 'star commercial firms' private exporters of jewelry that had been prohibited from import gold from July 2013 to resumption of imports with immediate effect.

Review of past restrictions on gold loans, the RBI has been issued a new circular on Tuesday that facilitated the ceiling for loans sanctioned against the pledging of gold jewelry and ornaments. The Bank completed a review its policy on December 30, limit the amount of loans punishable under RS 1 lakh.

As RBI, "Banks, for their policy approved by the Board, may decide on the ceiling regarding the amount of loans so granted contrary to the pledge of gold jewelry and ornaments final nonfarm uses." The tenor of the loan may not exceed 12 months from the date of sanction.

Read more: Govt relaxed loan limits against the pledging of gold ornaments and jewellery

100McxTips a Indian MCX Commodity advisory and generally offers services & news about in bullion gold silver trading market. Follow company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @ 100mcxtips

Trade deficit to 11-month high in June as surge in gold imports

A rise in gold imports, widens trade deficit of India for up to 11 months in June, adding to the uncertainty in the global oil prices could pile further pressure on the current account widened.

The trade deficit widened to $ 11.76 billion last month, an all time high level since July 2013, after a Reserve Bank of India takes tough rules to ease import of gold led to an annual further increased by 65 percent of shopping abroad of the yellow metal.

Exports from India rose by 10.22 percent to U.S. $ 26.4 billion in June this year, while imports amounted to USD 38.24 billion, up 8.33 percent, leaving a shortfall trade of U.S. $ 11.76 billion, according to the Department of Commerce and Industry of the data.

Exports amounted to USD 24 billion in June last year, while imports were $ 35.3 billion, according to data. May exports increased by 12,4 percent to USD 28 billion in the same month last year, whereas imports fell 11.4 percent to USD 39.23 billion.

In the April-June period, exports increased by 9.31 percent to $ 80.11 billion.

Imports, however, fell 6.92 percent to USD 113.19 billion for the first three months of this FY 2014  year.

The trade gap over the period amounted to USD 33.08 billion. Oil imports rose 10.9 percent in June to $ 13.34 billion.

Non-oil imports over the month under review rose 7 percent to $ 24.9 billion.

The country's gold imports rose 65.13 percent to $ 3.12 billion by June this year following USD 1.88 billion in the same month of the previous year.

A greedy appetite for gold among Indian consumers has caused bullion second largest single item of import after oil and was among the key factors in its development of a balance-scale payments crisis on last year.

In a desperate attempt to trim a current account deficit, India last year rose import duties on gold and imposed a rule that requires one-fifth of all imports of precious metals being re-exported.

Although such measures have slashed imports of gold and enhanced the current account, which also pushed up premiums on the national market, which caused an increase in smuggling.

However, picking up strongly gold imports could spell the curbs remain in place for a while as import bill of the country at large to rise on the back from an improvement in investment and activity is expected consumption, increasing the trade deficit.

"The industry has been calling for the disposal of restrictions on imports of gold, but a large trade deficit in the context of geopolitical tension and investment climate recovery could make the government a little more cautious," said commodity advisory 100McxTips.

Finance Minister Arun Jaitley shocked the bullion markets, keeping the import duty on gold and silver unchanged at 10 percent in his maiden budget last week.

"The government will be reconsider easing curbs import of gold once the fiscal situation becomes more comfortable." Finance Minister Arun Jaitley said last week.

100McxTips.com a Indian MCX Commodity advisory and generally offers services & news about in bullion gold silver trading market. Follow company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @ 100mcxtips 

Govt considers easing gold import curbs after situation improves: Arun Jaitley

The government will be reconsider easing curbs import of gold once the fiscal situation becomes more comfortable, Finance Minister Arun Jaitley said.

"Not at the moment (easing curbs on import of gold)...if our situation gives me more comfort level, obviously these are flexible polices. They are not engraved in stone that you can't change them," Jaitley told PTI in an interview.

In the past year, India imposed import restrictions of gold, the second largest after oil imports, after a sharp increase in the current account deficit of the country.

However, stimulated curb smuggle in India, the world's largest buyer, through illegal channels "hawala" networks that are casual international remittance.

 India elevated the import tariff of gold last year to 10 percent from 4 percent and also commanded that 20 percent of the imported gold is exported, which is called the 80:20 rule.

The current account deficit (CAD) hit a record high of 4.8 percent of gross inner product, or about $ 88 billion in the fiscal year through March 2013, pushing the rupee to a record low of 68.85 per dollar August.

CAD has been drastically reduced to 1.7% of GDP, or $ 32.4 billion in 2013-14, helped mainly by the collapse of gold imports. Gems and jewelery exports note approximately 15% of total outbound shipments from India and exporters have been pitching for the lifting of import curbs on the yellow metal.

A report by under internal investigation SBI said even if prices rise to $ 115 (the worst), CAD still be below 3% of GDP in the current financial year (2014-15).

CAD of India, which is the surplus outflow of currency on the entries, hit a record high of 4.7 percent of GDP in 2012-13, mainly due to increased imports of gold and oil.

By January-March quarter stood at CAD $ 1.2 billion or 0.2 percent of GDP, compared to $ 18.1 billion, or 3.6 percent of GDP in the same quarter last year, according with the RBI.

He, however, said the government must be careful in the current account deficit (CAD) and fiscal deficit.

"Both CAD and fiscal deficit, I think we have to be cautious and careful," he said.

With the aim of check the increase in CAD​​, the government had posed import duties for the yellow metal to 10 percent, while RBI imposes restrictions on the import of gold and also provides various preconditions for shipments into the metal beautiful.

As a result of the combined efforts, gold imports has been falling. Fell by 72 percent to $ 2.19 billion in May 2014 due to restrictions imposed by the government.

"The budget also has not proposed any any proposal to cut import duty of 10% in gold or relax the strict conditions imposed by RBI for purchasing metal from overseas which has been the demand from industry, said 100McxTips.com"

100McxTips.com a Indian MCX Commodity advisory and generally offers services & news about in bullion gold silver trading market. Follow company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @ 100mcxtips 

RBI seeks contributions to exchange gold for improve the quality of reserves

The Reserve Bank of India (RBI) on Wednesday said it searched for contributions from banks to exchange gold for their own vaults of gold international level with the aim of improving managing its reserves.

The RBI said the deal would "normalize gold available at RBI in India regarding to international standards" and gold purchased would be delivered to the foreign custodian, the Bank of England.

With the holding of gold stocks in London, the RBI could be become more flexible in order to mobilize if necessary to defend the currency. It is sent to some of its gold holdings to Britain in 1991 as part of a series of emergency actions to deal with a financial crisis.

With leadership from Governor Raghuram Rajan, named last year, the RBI has attempted to upgrade its market operations and enhancing the management of the foreign exchange and gold reserves are a total value of around $ 315 billion.

According to the World Gold Council, India has the 11 largests gold reserves of 557 tons. At current market prices, which would be worth almost $ 24 billion. It was not immediately clear how much of that is to be exchanged.

"RBI, in consultation with the government, decide what further amount that exchange-rate, timed, etc. Gold to be exchanged is concerned," the RBI said in a email reply to questions from Reuters.

The Economic Times informed previously that RBI had probed bankers into a relatively impure, plan to exchange some old gold which has been lying in its own arches since before the independence in 1947.

Read more like this here

100McxTips.com a Indian MCX Commodity advisory and generally offers services & news about in bullion gold silver trading market. Follow company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @ 100mcxtips

Gold prices moved down on global cues

Gold futures August delivery settled down 0.21% to Rs 27,630 per 10 gm on MCX in morning trading. Gold price hit an intraday high of Rs 27,669 and an intraday low of Rs 27,617. So far 761 contracts have entered into trade. The prices of gold have gone down Rs 1658, or 5.66 percent in August series so far.

"The price of gold in India has declined as international prices have fallen despite becoming weaker rupee," said 100McxTips. "Not much market activity like everyone else is waiting for the announcement of the budget 2014-15. Outlook for gold remains on the downside."

In the spot market, gold moved around 28,100 rupees per 10 grams, down by nearly Rs 200 since last Friday.

" We hope that spot prices for trading gold on the upside such as increasing geopolitical tensions in Iraq and dispute between Russia and Ukraine can worsening in demand for safe haven. In addition, weak dollar after weak U.S. economic data can be sustain prices to trade in green. Moreover, the decision of the U.S. Fed to continue its accommodative monetary policy can act good for prices. However, the increased risk appetite in the global markets may restrict sharp spike in in prices. Investors remain cautious before of U.S. economic data and the Euro Zone. In native markets depreciation in Indian rupee may support prices. ", said 100 Mcx Tips Commodity Advisory.

"There is a lot of volatility in the marketplace. Stroke is in range. All eyes are focused on the current budget, which was presented on July 10. Monsoon is also essential for the extraction of gold," said a bullion dealer with based in Mumbai. Nearly 60% of gold consumption in India is explained by the rural India.

The price of the yellow metal posted strong gains of over 5% of $ 1250 to $ 1320 level. As mean the demand for investment for this product has been lower in the last months. Performance SPDR gold holdings remained stable with investing in ETFs was a little higher than 782 tonnes to 785 tonnes. Physical demand in China and India, the two largest consumers worldwide have been systematically lower.

100McxTips.com a Indian MCX Commodity advisory and generally offers services & news about in bullion gold silver trading market. Follow company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @ 100mcxtips

Gold volatile on concern about weak physical demand

Gold was marginlly changed in the Asian markets early Friday, but could be facing a volatile trading on concerns about weak physical demands on top of China's consumers and finding $ 15 billion of loans linked with the agreements fake gold in the country.

Chinese processing companies have used fake gold trades from 2012 to borrow 94.4 billion yuan ($ 15.2 billion) from banks, said the chief auditor of the country.

Gold was marginlly changed in the Asian markets early Friday, but could be facing a volatile trading on concerns about weak physical demands on top of China's consumers and finding $ 15 billion of loans linked with the agreements fake gold in the country.

Chinese processing companies have used fake gold trades from 2012 to borrow 94.4 billion yuan ($ 15.2 billion) from banks, said the chief auditor of the The majority of deals on commodity financing are legitimate, but disclosures false transactions based on the gold market, on the heels of suspected fraud in the metals financing Qingdao port, loans may encourage the authorities to launching another offensive against the financing of commodities.

Spot gold held steady at $ 1,317.76 an ounce by 0331 GMT, after losing 0.1 percent in the previous session.

"It's a wait and watch the status for now, but only if these agreements golden start to relax, there might be a reduction in imports, but not a steep decline," said a trader in Shanghai.

The imports of gold Hong Kong, China are already in the lower levels, with overseas purchases in May fell at its lowest level since January last year round as the rate of purchase of calms down after a record high 2013.

The Shanghai trader said that despite the recent weakness in demand, the global appetite for gold remains strong.

Demand from China has been quiet the last few months as a weaker yuan been blunted by the attractiveness of metal.

The demand from the main Indian consumers has also been undergone since the industry expected a prospective decline in rules on gold imports.

Gold may be also under pressure following comments by a official of the U.S. Federal Reserve that interest rates end of the first quarter of 2015 would be appropriate.

Meanwhile, the technical picture for gold, it positive in the near future, 100McxTips Trading Services analysts said.

"The technical profile reveals the chance of a short-term boost to the area of ​​$ 1.370 to 72" ANZ analysts said. "But this would be seen as a range of motion blur medium term, instead of an inversion of the downward trend."


100McxTips.com a Indian MCX Commodity advisory and generally offers services & news about in bullion gold silver trading market. Follow company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @ 100mcxtips

Why silver outperforming gold and has not yet ended

Silver has in silence scored twice as percentage gains of gold this month, and silver prices are likely did not exceed out during the year.

The actual value of the silver far from being a reality, "said 100McxTips Experts.

Tracking the Delhi market, silver prices have gained roughly at Rs 45,000 June month to date 26, compared with gold down at Rs 28,600.

Silver has a price like it was far more common than gold, but can be very weirder than the price suggests, 100McxTips said. Due to its antibacterial properties and the ability to conduct heat and power, silver is also may prove to be even more important as an industrial metal, "causing a shortage of supply."

Of the 19 market sessions this month, prices of silver have dropped just three times, while the prices of gold registered declines five of them. And while the the prices of gold recently negotiated just over up to two months, the silver threaded their highest level in more than three months.

Analysts said that silver's recent gains to a certain safe haven demand on the heels of the crisis in Iraq. But also said that the improvement in the economic data it helped raise the prospects for metal demand.

The majority of the bullish move of silver was caused by rising demand and this was fueled by improving economic data, which reached the belt earlier this week and last week in the U.S., said 10McxTips.

Proofreading HSBC China's manufacturing sector for May hit a seven months. In the U.S., industrial production in May rose more than you expected and an index of production conditions in the Philadelphia region climbed to the highest reading since last September.

But Wednesday, data showed the U.S. economy shrank 2.9% in the first quarter. Weekly data Thursday found that jobless claims are held near a post-recession low consumer spending and May rose less than expected.

They said that, with increased resistance to silver around Rs 45,000 mark and recent performance of metal, a "small correction" could be on the cards.

In the long term, "silver can keep ahead because fails its precise purpose as gold", which may be viewed as a trade-off of risk and security against inflation, he said. And silver can "keep raising whether the growth starts retrieving and the public view more appetite for jewelry."

Read more how Gold, silver disparities and more

100McxTips.com a Indian MCX Commodity advisory and generally offers services & news about in bullion gold silver trading market. Follow company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @ 100mcxtips

Gold gains continue as mixed U.S. economic data

Gold - Silver is shone. MCX gold is previously showing gains. Gold price has crossed Rs 26,500. In Delhi, gold of 99.9 and 99.5 per cent purity went up by Rs 360 each to Rs 27,600 and Rs 27,400 per ten grams.

Gold surged both on the spot and futures markets Friday, tracking global prices that rose overnight following fresh concerns as mixed U.S. economic data released on Thursday.

At noon, the August  futures contract for gold on MCX traded at 0.44% at Rs 26,447 per 10 grams. An intraday high was Rs 26,469 and the low, Rs 26,321.

In the spot market, gold surpassed the Rs 27,000-per-10-g after almost a week. It was the last to Rs 27,062.

In the international marketplace, gold traded close up of a two-week high, and is publishing the first weekly back-to-back gain since April, in that the U.S. recovery may be bogged and violence in Iraq will enhance the demand driven by a shelter.

"We expect the market to remain choppy gold with the negative sentiment the coming week. If riots Iraq gains momentum, then it will support the gold prices," said commodity experts.

In India gold demand is low, saying traders.

"There is almost no golden demand in the market. Usually June and July are boring months for the trading gold. Prices is little progress slowly upward as the international price of gold is rising," said Prithviraj Kothari, vice president of Association of Indian Jewellers and bullion. Depreciation of the rupee versus the dollar on Friday, has added to domestic prices, Kothari said.

Gold for immediate delivery slipped 0.2% to $ 1271.39 an ounce at 14:16 in Singapore after going up to $ 1275.65, the highest level since May 27, according to Bloomberg generic prices. The metal adding 1.4% this week after increasing 0.3% the week before.

Bullion has risen 5.8% this year, in part, as the events between Ukraine and Russia spurred demand for safer investment. Gold gained 1% on Thursday, mostly from May 2 since the riots in Iraq oil led to an eight-month high and submitted inventories tumbling. U.S. data on Thursday showed than retail sales rose less than expected while jobless claims beat estimates, according to international news agencies.

100McxTips.com a Indian MCX Commodity advisory and generally offers services & news about in bullion gold silver trading market. Follow company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @ 100mcxtips

Commodities Outlook, MCX Gold August contract in bearish trend

The price of gold edged up in Asia on Friday as a continuation of the ultra-loose monetary policy by the ECB (European Central Bank) during the night with the outbreak now on U.S. The data, which is expected to show a profit of 218,000 jobs. The European Central Bank cut its benchmark interest rate to a historical low of 0.15% Rate 0.25% since November of the same same day. We hope that the spot price of gold to trade on positive note by the European Central Bank cut its benchmark interest rate by 0.1 percent. In addition, weakness in DX and expectation of fall in U.S. data Non-Farm Employment Change can support the prices to trade positively.

However, the world market optimistic sentiments can lead to lower demand for safe haven and expectations in market players that the U.S. Fed may continue to reducing their stimulus package as fast may limit recent sharp rise in prices.

Above all else, the future is in MCX Gold August downtrend and moreover we saw a good selling pressures going last week. MCX GOLD August contract was trading down at Rs 25960. The GOLD rate touched an intraday high of Rs 25988 and an intraday low of Rs 25915. So far 1244 contracts have been traded.
So for the coming week, little bid for the lower levels are expected. For next week 25690/25250 will act as major support while 26340/26560 will act as a major resistance level in the MCX Gold August Contract. For the next week MCX Gold trader can use buy on lower level strategy if MCX Gold August futures contract holds above 26000 levels, then it could test the levels of 26200/26340.

Last week, MCX Silver July futures contract was trading at down Rs 40277. The SILVER rate touched an intraday high of Rs 40361 and an intraday low of Rs 40113. So far 1715 contracts have been traded.
Technically MCX Silver futures contract for July is the strengthening and maintenance around the lowest level. For next week 42800/44000 will perform as major resistance levels where as 39000/37500 will act as substantial support in MCX July silver futures. For the next week MCX Silver futures, traders can use buy on lower level strategy if MCX Silver July futures contact holding above 40500, then it could test the levels of 41500/42800.

100mcxtips.com a Indian MCX Commodity advisory and generally offers services & news about in bullion gold silver trading market. Follow 100McxTips company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @ 100mcxtips

Gold futures up slightly in Asia in thin trade

Gold prices up slightly in Asia on Tuesday in thin trading with the U.S. markets on holiday overnight.


Comex gold for delivery in August quoted at $1,292.4 a troy ounce, up 0.04%.

The prices of gold rose on Monday in electronic commerce, as trading volumes were light with UK markets closed for a public holiday and the markets in closing the remaining U.S. due to the holiday of Memorial Day, 26 May 2014.

Market participants have also followed the evolution linked to elections in Ukraine during weekend, where exit polls showed a decisive victory for the pro-European candidate Petro Poroshenko.

Poroshenko has pledged to restore order in the country, following months of clashes between the Russian forces and pro-government.

Russian President Vladimir Putin on Friday committed to respect the outcome of the elections on Sunday. The U.S. and its allies warned they were going to tighten sanctions against Moscow whether voting was stopped.

At the Multi Commodity Exchange, gold for delivery in June traded lower by Rs 90, or 0.29 per cent, to Rs 27, 402 per 10 gram.

100mcxtips.com a Indian MCX Commodity advisory and generally offers services & news about in bullion gold silver trading market. Follow 100McxTips company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @ 100mcxtips

Gold futures recover by Rs 50 to Rs 28,170 after early decline at Rs 28,120

Gold futures fell on Tuesday morning to Rs 28,120 per 10 gm before recovering to half day Rs 28,170 per 10 gm. It touched an intraday high of Rs 28,245.



"The market is anxiously waiting for the outcome of the FOMC (Federal Open Market Committee) meeting tomorrow. Fed President and CEO Janet Yellen will speak tomorrow and bullion market is holding a close watch over the Yellen review on the purchase program of U.S. bonds.

In the spot market, gold an additional 110 rupees dropped by 10 grams to Rs 28,610.

"The outlook for gold appears to be stable at this time. If the rupee is strong, then a further decline is expected. There is a great excitement in the market that the new government will do partially back of import duties, by which is making the cheapest gold. All eyes are on the new government's stance on gold.

Gold demand in India fell 26% in the first quarter of calendar year 2014 due to higher duties for the import and Rule 80-20 that has held the supplies, so the landed cost of the yellow metal expensive. Rules 80 to 20 refer to the condition that 20% of the gold imported must be exported.

In the international marketplace, gold traded below $ 1,300 an ounce after clumsily purchases and wounded yesterday as investors weigh the outlook for monetary stimulus measures in the USA.

100mcxtips.com a Indian MCX Commodity advisory and generally offers services & news about in bullion trading market. Follow 100McxTips company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @ 100mcxtips

Gold prices holds above $1,300 with U.S. data in focus and Chinese buying eases

Gold prices fell, but remained above the $ 1,300 level on Thursday key, as market players looked ahead to key U.S. data further in the session for additional indications on the economic strength and need for stimulus.

Gold clung to overnight gains that pushed it over the key level of $ 1,300 an ounce, supported by geopolitical crisis in Ukraine and technical buying in China.

On the Comex, gold for delivery in June lost 0.29%, or $ 3.80, to trade at $ 1302.10 a troy ounce during early European morning hours.

Prices remain in a range from $ 1,301.50 and $ 1,307.30 an ounce. Gold rose to $, $ 1309.20 an ounce on Wednesday, the highest figure since May 7, before settling at $ 1305.90, up 0.86%, or $ 11.10.


The prices of gold were likely to find support at $ 1289.10 an ounce, the low of May 13 and resistance at $ 1,315.00, the high of May 7.

The U.S. will unveil data on baseline jobless claims as consumer price inflation and industrial output, and a report on manufacturing activity in the Philadelphia region later Thursday.

The official data demonstrated that French GDP held in the first quarter, disappointing prospects for growth of 0.2% as consumer spending plummeted.

While, investors controlled current tensions in eastern Ukraine, since the conflict between pro-Russian separatists and Ukrainian forces continued.

Interim Leader of Ukraine on Wednesday drove a plan to make more voice over their affairs regions, but excluding separatists roundtable talks cast doubts on whether the measure would defuse the crisis.

The rise in prices has discouraged physical buyers with premium main buyer China fell to less than $ 1 per ounce in spot rates, compared with $ 2.50 in the previous session.



www.100mcxtips.com a Indian MCX Commodity advisory and generally offers services & news about in bullion trading market. Follow 100McxTips company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @ 100mcxtips

4-time rise in gold smuggling during 2013-14, Rs 245 cr gold seized

On a worrisome trend, there has been a rise of almost 4-time higher in the case of smuggling gold as 148 such cases have been reported and yellow metal worth about 245 crore rupees seized by the Directorate of Revenue Intelligence (DRI) officials during 2013-14.

No fewer than 40 cases of smuggling gold were recorded in 2012-13. Gold value seized in such cases was approximately Rs 44.80 crore, according to the DRI, which acts as the lead agency to verify smuggling.

The seized gold was being smuggled into nationwide through various mediums - hiding into luggage and even through a false statement for the imported goods, among others.

DRI officials had been arrested 464 people over the past year, compared to 202 in 2012-13 for their involvement in smuggling gold.

The customs officials at international airport in Delhi have also logged 363 cases of smuggling of gold and 353 kilograms of the precious yellow metal were seized during 2013-14. The value of the seized gold is about Rs 90 crore, the officials said, adding 123 people were detained in these cases.

"There has been a significant rise in case of smuggling gold. Last year, only 20 to 25 kg gold seized here," first published a customs officer in the Indira Gandhi International Airport said.

Finance Minister P Chidambaram, who has been urging people to monitor their passion for gold, had earlier this year said about 1,000-3,000 kg of yellow metal was smuggled into nationwide each month.

By the way, gold smuggling exceeded cases of illicit trafficking.

DRI officials had been recorded 44 cases of smuggling gold, smuggle valuing is Rs 209 million rupees in 2013-14 as compared with 36 cases of contraband narcotics worth Rs 194 million rupees seized in 2012-13.

Strong demand for gold has been a concern for the Ministry of Finance, which went out of control Current Account Deficit (CAD), difference between the exit and entry of foreign currency.

The CAD had hit a historic high of USD 88.2 billion, or about 4.7 percent of GDP in 2012-13 and was primarily ascribed to higher imports of oil products and gold.


www.100mcxtips.com a commodity Bullion (gold, silver), Energy (crude oil , natural gas) advisory and generally offers services & awareness about trading mistakes in trading market. Follow 100McxTips company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @ 100mcxtips

Gold trade 3-week high on Wednesday as softer dollar, Ukraine tensions

Gold went up to trade near its highest level within 3-weeks on Wednesday, aided by the dollar weakness and underlying tensions in Ukraine that led to safe-haven bids.

On the Comex division of the NYMEX, gold futures for delivery in June quoted at $ 1,308.70 a troy ounce, up 0.01%, after hitting a intra session low overnight of $ 1304.60 and a maximum of $ 1314.20.
Spot gold was rose 0.4 percent to $ 1311.71 an ounce at 0344 GMT, having earlier touched a session high of $ 1,313.50. He hit a 3-week high of $ 1315.60 on Monday.

At the MCX, gold for delivery in June moved up by Rs 87, or 0.30 per cent, to Rs 28,974 per 10 grams.

The periods of economic and political uncertainties in general tend to polish gold's appeal as a safe haven investment.

Growing tensions Ukraine also could get even worse the relationships between Russia and the West, pushing gold. The Obama government is working on a new round of penalties against Russia if the ramps dramatically attack on Ukraine.

Gold has also been aided by the weak U.S. dollar, which was languishing at six-month lows against a basket of major currencies.

A lower dollar makes it cheaper for other currency holders to buy gold.

Get gold investments trading tips with NO risk and free od cost for 2 days visit us here: http://www.100mcxtips.com Follow our company Facebook profile page ( https://www.facebook.com/100mcxtips) and get market news tweets @ 100mcxtips

At MCX India, Commodities Opening Market Prices – As on 15 Oct 2013

MCX gold is trading with a loss of 0.3 percent. While silver plunged close to 0.6 percent. At the Multi Commodity Exchange, crude oil is trading with marginal gains of 0.2 percent. Natural gas is trading along the edge of nearly 1 percent.  MCX is trading at modest decline in base metals. Copper is trading with weakness marginally by 0.1 percent. 0.1 percent in aluminum, lead, nickel and zinc have dipped by 0.2 percent.

At MCX India, Commodities Opening Market Prices – As on 15 Oct 2013

• CRUDEOIL 21-OCT2013, Opening Price: 6292.00, High: 6292.00, Low: 6292.00, Volume: 1
• GOLD 05-DEC2013, Opening Price: 28607.00, High: 28607.00, Low: 28601.00, Volume: 13
• NATURALGAS 28-OCT2013, Opening Price: 235.50, High: 236.60, Low: 235.50, Volume: 41
• SILVER 05-DEC2013, Opening Price: 47105.00, High: 47105.00, Low: 47100.00, Volume: 2
• SILVERMIC 30-NOV2013, Opening Price: 47372.00, High: 47372.00, Low: 47000.00, Volume: 51
• SILVERM 30-NOV2013, Opening Price: 47300.00, High: 47300.00, Low: 47300.00, Volume: 2 
• COPPER 29-NOV2013, Opening Price: 453.60, High: 459.80, Low: 451.95, Volume: 62
• COPPERM 29-NOV2013, Opening Price: 451.00, High: 451.00, Low: 451.00, Volume: 1
• ZINCMINI 31-OCT2013, Opening Price: 116.90, High: 116.90, Low: 116.90, Volume: 1
• LEADMINI 31-OCT2013, Opening Price: 130.45, High: 130.45, Low: 130.20, Volume: 3
• NICKELM 31-OCT2013, Opening Price: 860.00, High: 860.00, Low: 858.10, Volume: 2
• GOLDGUINEA 31-OCT2013, Opening Price: 24000.00, High: 24000.00, Low: 23952.00, Volume: 5
• GOLDM 05-NOV2013, Opening Price: 29801.00, High: 29911.00, Low: 29780.00, Volume: 6
• GOLDPETAL 31-OCT2013, Opening Price: 2990.00, High: 2990.00, Low: 2990.00, Volume: 1

Today MCX Trading Tips by 100 MCX Tips

MCX SILVER Tips (December futures): Buy - 46 800, stop-loss - 46400 and the target - 47989

MCX Copper Tips (Nov Futures): Buy - 455, stop-loss - 441 and Goals - 459

Natural Gas MCX Tips (OCT futures): Sell - 235, stop-loss - 239 and Goals - 223