MCX Live Market Data & Commodity Updates

Commodity Live updates

- GOLD FALLS FOR 2ND DAY AS SPAIN FEARS DENT AERO.
- OIL FALLS ON SPAIN, CHINA WORRIES.
- COPPER FALLS ON SPAIN WOES , CHINA LENDS SUPPORT.
 - INDIAN SPICES TRADE LOW ON WEAK EXPORT DEMAND.

MCX Market Data

Date	Time	Currency	Economic Data	Forecast	Previous
THU 31ST MAY 2012	05:00 PM	USD	Challenger Job Cuts y/y		11.20%
	05:30 PM	USD	FOMC Member Pianalto Speaks
	5:45pm	USD	ADP Non-Farm Employment Change	145K	119K
	6:00pm	USD	Prelim GDP q/q	1.90%	2.20%
	6:00pm	USD	Unemployment Claims	369K	370K
	6:00pm	USD	Prelim GDP Price Index q/q	1.50%	1.50%
	7:15pm	USD	Chicago PMI	56.7	56.2
	8:00pm	USD	Natural Gas Storage	75B	77B
	08:30 PM	USD	Crude Oil Inventories	0.2M	0.9M

Copper Updates 

MCX Copper down by almost 1.38%. Expected down for today's sesson.London copper dropped to its lowest level for the year on Thursday, extending the previous session's more than 2 percent fall, as investors continued to exit riskier assets amid mounting worries about the euro zone debt crisis.Faded optimism over more stimulus packages in China and weak data out of the U.S. property market also dragged down prices.

Three-month copper on the London Metal Exchange edged down $2.25 to $7,472.75 a tonne by 0116 GMT, after hitting $7,422.75 earlier, its lowest level since Dec. 29. The most-active September copper contract on the Shanghai Futures Exchange fell 1.6 percent to 54,440 yuan ($8,600) a tonne, bouncing off an earlier low of 54,280 yuan, its lowest level since Dec. 20.

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Live Commoidyt Trend - Gold Trend

Gold Commodity Trend

Gold shows some buying trend, but major seen is bearish, all market go down due to global market & dollar effetc. Spot gold prices declined by 0.4 percent today on the back of strength in the US Dollar Index (DX). The yellow metal touched an intra-day low of $1545/oz and hovered around $1548/oz till 4:30pm IST today. On the MCX, prices traded on a flat note and were trading around Rs.28,862/10 gms today. However, depreciation in the Indian Rupee cushioned further fall in gold prices on the domestic bourses. Taking cues from fall in gold prices and downside in base metals, Spot silver prices declined around 1 percent today. Additionally, strength in the DX also exerted downside pressure on silver prices. The white metal touched an intra-day low of $27.51/oz and was trading around $27.52/oz today. On the domestic front, prices declined by 0.6 percent but depreciation in the Indian Rupee prevented further fall and silver hovered around Rs.53,660/kg on the MCX till 4:30pm IST today. Silver almost down by by 0.30% and seems to more down form htis level. 

All Base metal also down, copper drop down by 0.90% while NG almost drop by 5%. No major correction seems for today's session. 

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MCX Commodity - Gold, Crude Live

Commodity Live

The Rupee gave up gains in yesterday’s trading session as long-term economic risks came to the forefront. Overall strength in the DX also added pressure on the currency which had appreciated in early trade. The currency appreciated by 0.3 percent on Monday and closed at 55.19. But during intra-day the currency gained sharply and touched a level of 55.01 in yesterday’s trading session.

Gold Trend

Prices on the MCX also closed only around 0.2 percent higher and Rupee appreciation capped gains. In the near-term, gold prices will be largely influenced by the ongoing macroeconomic concerns and sharp increase in safe-haven demand may not be seen as investors are cautious over the yellow metal’s fate. Gold imports in India declined by 32.4 percent in 2011-12 and stood at 655 tonnes from 969 tonnes a year ago. Also imports declined in Q1 of 2012 by 68 percent to 90 tonnes compared to 283 tonnes in Q4 of 2011.

 

Crude Updates

Iran, which is second largest crude oil producer in the Organization of Petroleum Exporting Countries (OPEC), will face sanctions and an oil embargo from 1st July. The Persian Gulf nation has double its stockpile of enriched uranium and 20 percent of enriched uranium is purchased since February as per the International Atomic Energy Agency. Supply-side concerns are expected to be supportive for oil prices as problems over Iran re-surface. But sharp gains will be capped as macroeconomic concerns continue and dollar strength will also affect upside.

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Commodity Live - Crude, Copper Updates

Commodity Updates

GOLD RISES AS GREEK ELECTION OUTLOOK LIFTS EURO. BRENT CRUDE OIL RISES ABOVE $107 ON GREECE, IRAN.. COPPER UP ON GREEK HOPES , CHINA STIMULUS. DOMESTIC OIL AND OILSEED TRADE UP ON POSITIVE GLOBAL CUES.

Live Copper Updates

Copper slipped on Tuesday as Spain's debt risk premium hit a euro-era high, reviving fears that the euro zone's debt crisis may worsen and shear off the region's demand for metals. Sentiment was also dampened by comments from a Chinese government economist that growth in the world's second largest economy is likely to dip below 8 percent in the second quarter. The concerns offset easing worries on Monday over Greece's commitment towards bailout conditions. Copper India Taking positive cues from global markets amid rising spot demand, copper futures prices today rose by 0.60 per cent to Rs 426.45 per kg. At the Multi Commodity Exchange, copper for delivery in June rose by Rs 2.55, or 0.60 per cent, to Rs 426.45 per kg, with a business turnover of 4,412 lots. Similarly, the metal for delivery in far-month August was up by Rs 2.50, or 0.58 per cent, at Rs 430.80 per kg, with a trading volume of 306 lots. Globally, copper for three-month delivery rose by 1.4 per cent to USD 7,742.75 a tonne at the London Metal Exchange (LME), while at Shanghai, it climbed 1.1 per cent to 56,000 yuan (USD 8,830) a tonne.

Crude Updates

Oil rose above $107 per barrel on Monday as fears of a euro zone break-up receded, but Middle East oil supply worries resurfaced after minimal progress in talks over Iran's nuclear programme. Opinion polls suggested Greece's pro-bailout conservatives could win elections on June 17, keeping the country in the euro zone and making a swift collapse of the currency bloc less likely. Ben Taylor, a trader at CMC markets, said news from Greece was key to commodities markets.

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Gold Trend Today

Gold was traded on higher side and form this level its expected to trade on up side for upcoming trading session. From the short-term perspective, we expect the Rupee factor to continue to be supportive for Indian gold prices. The commodity in the international markets is performing largely like a risky asset and downside risks remain on the back of worsening macroeconomic concerns along with strength in the US Dollar Index. Holdings in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, declined around 1 percent to 1,270.26 tonnes on 25th May 2012 from the previous level of 1,282.94 tonnes on 18th May 2012.

Copper Updates Live

Copper on its bullish phase & looking good for buy in MCX Commodity. Additionally, stronger dollar index coupled with rise in LME copper inventories by more than 1 percent also led to downside pressure on prices of the commodity. Copper prices touched a low of $7,503/tonne in last week and closed at $7627/tonne on Friday. On the MCX, prices increased by 0.6 percent on the back of appreciation in Indian Rupee and closed at Rs.423.5/kg on Friday after touching a low of Rs.421/kg in last week. The red metal inventories on the LME warehouses increased around 1 percent to 223,500 tonnes on 25th May 2012 from he previous level of 221,175 tonnes on 18th May 2012.

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Live MCX Commodity Updates

Gold Updates

Gold tracked the euro lower on Friday en route to its weakest monthly performance since December, pushed down by fears the debt crisis in Europe could spiral out of control and trigger a global economic slowdown. Even though traditionally seen as a safe haven, gold has borne the brunt of the sell-offs across risk assets such as equities, industrial metals and oil, forcing investors and speculators to sell bullion to cover losses in other markets. Gold fell $3.26 an ounce to $1,554.99 by 0243 GMT after hitting a session high at $1,577.50 on Thursday, when the euro briefly rose against the U.S. dollar. Gold was poised for a 6 percent decline in May.

Commodity Live Trend

GOLD EDGES UP AS EURO CUTS LOSSES. OIL CLIMBS BACK ABOVE $106 AS IRAN TALK STALL. COPPER UP FROM 4-1/2 MONTH LOW , EU DATA WEIGHS. DOMESTIC OIL AND OILSEED TRADE STEADY.

Commodity Data

 

Date	Time	Currency	Economic Data	Forecast	Previous
FRI 25TH MAY 2012	12:30am	USD	Treasury Sec Geithner Speaks
	7:25pm	USD	Revised UoM Consumer Sentiment	77.7	77.8
	7:25pm	USD	Revised UoM Inflation Expectations		3.10%

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