Mcx Commodity Market News : Evening Session - 29.9.2016
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White metal regains sheen on firm global cues
29/09/2016 13:58
Following gold, silver futures were trading higher during the afternoon trade in the domestic market on Thursday as investors and speculators widened their positions in the precious metals tracking a firm cues globally.
Further, a rise in prices for silver was in-line with a firm trend in overseas markets as Fed Chair Janet Yellen said that there was no fixed timetable for US interest rate tightening.
Still, many of Yellen’s colleagues have signaled that an interest rate hike would be appropriate before the end of the year.
The Fed is looking for continuation of the job market recovery, and if no new risks arise, than a rate hike in December could be well on the cards.
At the MCX, silver futures for December 2016 contract is trading at Rs 45,909 per kg, up by 0.72 per cent, after opening at Rs 45,805, against a previous close of Rs 45,583. It touched the intra-day high of Rs 45,978 (at 13:48 hours).
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Soft physical demand bites Mentha Oil
29/09/2016 13:55
Mentha oil futures fell during noon trade in the domestic market on Thursday as investors and speculators exited positions in the agri-commodity amid weak physical demand for mentha oil from major consuming industries in the domestic spot market.
Further, abundant supplies amid higher physical arrivals from the major mentha oil producing regions in the country also exerted downward pressure on domestic mentha oil prices.
At the MCX, mentha oil futures for September 2016 contract were trading at Rs 857.4 per kg, down by 0.76 per cent after opening at Rs 862, against the previous closing price of Rs 864. It touched the intra-day low of Rs 855.1(at 13:16 PM).
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Firm physical demand lifts Cardamom
29/09/2016 13:16
Cardamom futures rose during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for cardamom from major consuming industries in the domestic spot market.
However, the gains in domestic cardamom prices were curbed by abundant supplies amid higher physical arrivals from the major cardamom producing regions in the country.
At the MCX, cardamom futures for September 2016 contract is trading at Rs 1122.3 per kg, up by 0.17 per cent, after opening at Rs 1116.7, against a previous close of Rs 1120.40. It touched the intra-day high of Rs 1140.10 (at 13:10 PM).
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Gold stronger after Yellen comments
29/09/2016 13:05
Gold futures rose during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the yellow metal as Fed Chair Janet Yellen said that there was no fixed timetable for US interest rate tightening, bolstering the lure for the bullion as a store of value.
Still, many of Yellen’s colleagues have signaled that an interest rate hike would be appropriate before the end of the year.
The Fed is looking for continuation of the job market recovery, and if no new risks arise, than a rate hike in December could be well on the cards.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,093 per 10 grams, up by 0.45 per cent, after opening at Rs 30,990, against a previous close of Rs 30,955. It touched the intra-day high of Rs 31,100 (at 12:59 PM).
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Lead futures zoom 0.64% on pickup in demand
29/09/2016 12:09
Lead futures were trading higher during the noon trade in the domestic market on Thursday as participants widened their positions in the industrial metal amid expectations for brisk demand.
Further, the winter season is high season for battery replacement because extreme cold weather conditions typically causes battery failures. Also, batteries account for about 80 per cent of lead demand. Thus, ahead of peak season battery makers typically start re-stocking metal in the September or October months.
At the MCX, lead futures for September 2016 contract is trading at Rs 134.05 per kg, up by 0.64 per cent, after opening at Rs 133.20, against a previous close of Rs 133.20. It touched the intra-day high of Rs 134.70 (at 12:01 hours).
