Life @ TradeIndia Research

Wednesday, 16 November 2016

Today’s Report on Gold, Silver, Crude Oil and Copper


On Tuesday, spot gold costs ascended by 0.67 percent to close at $1228 per ounce snapping a three-session losing streak, on uncertainty over the monetary policies of U.S. President-elect Donald Trump.

On the MCX, gold costs declined by 1 percent to close at Rs.29320 per 10 gms.


Spot silver costs ascended by 1.2 percent to close at $17.1 per ounce in accordance with ascend in gold costs and deal chasing at lower levels. Daily Commodity Tips

On the MCX, silver costs ascended by around 1 percent to close at Rs.41407 per kg.

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Point of View

On an intraday premise, we anticipate that gold costs will trade sideways as business sectors stay unverifiable as to the policies of Trump as he takes control in January.

On the MCX, gold costs are relied upon to exchange sideways today, international markets are trading higher by 0.23 percent at $1230.70 per ounce.


Crude Oil

WTI oil costs ascended by 5.7 percent on Wednesday to close at $45.8 per barrel with U.S. crude indenting its greatest day by day rate pick up in seven months, on restored desires that OPEC will concur later this month to reduce a global supply overabundance. Accurate Free MCX Tips on mobile

On the MCX, oil costs ascended by around 6 percent to close at Rs.3083 per barrel.

On the MCX, oil costs are required to exchange sideways today, international oil costs are exchanging lower by 0.3 percent at $45.66 per barrel.


LME Copper costs exchanged lower by 0.6 percent yesterday at $5525/ton, declining from 15-month highs, as the dollar was consistent close to 15-month high levels states as Trump's guarantee for infrastructure spending and tax breaks supported prospects for rising U.S. development and inflation. Alongside this, Retail deals in the US ascended by 0.8 percent, speedier than probable in October, helped by solid auto deals which rose 1.1 percent a month ago after an expansion of 1.9 percent in September. We also provide Stock Future Tips with accuracy

MCX copper costs exchanged lower by 1 percent to close at Rs.374.7 per kg on Tuesday.

Point of View

LME Copper is at present exchanging lower by 0.6 percent today at $5494/ton. Costs are probably going to trade bring down today as strength in the DX and very nearly 100 percent likelihood of a rate climb in Dec'16 will exert pressure.

We wait for that MCX Copper costs will trade bring down today on the MCX.

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