Free MCX Commodity Market Morning Outlook

MCX Gold

On the MCX, gold prices declined by 1.57 percent to close at Rs.30078 per 10 gms. Gold prices fell as U.S. dollar and stocks rallied after FBI cleared Democratic presidential candidate Hillary Clinton of criminal charges. Commodity Tips On the MCX, gold prices are expected to trade lower today continuing its negativity from the previous trading session; international markets are trading marginally higher by 0.1 percent at $1282.5 per ounce.

MCX Silver

On the MCX, silver prices declined by 1.07 percent to close at Rs.42933 per kg. Silver prices dropped as demand for safe-haven assets ebbed after the FBI said that no charges were warranted against Hillary.

MCX Crude Oil

On the MCX, oil prices rose by 0.9 percent to close at Rs.2967 per barrel. Crude oil gained boosted by a commitment from OPEC to stick to a deal to cut output. Free MCX Tips On the MCX, oil prices are expected to trade sideways, international markets are flat at $44.86 per barrel.

MCX Copper

MCX copper prices traded higher by 2 percent to close at Rs.341.2 per kg on Monday. We expect MCX Copper prices to trade lower today on the MCX. Copper prices gained in step with a firmer Shanghai futures contract as U.S. presidential candidate Hillary Clinton averted charges over use of emails.

INTERNATIONAL MARKET UPDATE

GOLD $ 1283.35.

SILVER $ 18.242,

COPPER $341.40,

CRUDE OIL $ 44.85,

INR 66.714.

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Outlook on MCX Gold, Silver, Crude

Gold 

Last week, spot gold prices rose by 2.2 percent to close at $1303.8 per ounce on account of weak dollar and uncertainty about the outcome of a tight U.S. presidential race.

Commodity Tips On the MCX, gold prices rose by 2 percent to close at Rs.30557 per 10 gms.

Gold gained as investors weighed the need for a haven before American presidential election against expectations of higher U.S. interest rates

Silver 

Spot silver prices rose by 2.9 percent last week to close at $18.4 per ounce in line with rise in gold prices and weak dollar.

On the MCX, silver prices rose by 2.3 percent to close at Rs.43398 per kg.

Silver steadied as jitters over U.S. election offset a solid payrolls report that shored up expectations for a U.S. interest rate.

MCX Gold-Silver Outlook 

On an intraday basis, we expect gold silver prices to trade volatile on account of uncertain environment with regards to the US presidential race. Besides, the FED has also kept the rates unchanged in its recent meeting creating further uncertainty about the timing of the rate hike. Meanwhile, the NFP data has missed market expectations with a number of 161000 clouding further uncertainty.

Free MCX Tips On the MCX, gold prices are expected to trade volatile, international markets are trading lower by 1 percent at $1291 per ounce.

Crude Oil 

WTI oil prices declined by 9.5 percent last week to close at $44.1 per barrel as investors reeled from a record weekly surge in U.S. crude inventories, and remained skeptical about whether OPEC can actually implement its planned output cap.

On the MCX, oil prices declined by 10.4 percent last week to close at Rs.2940 per barrel.

Free Commodity Tips Crude oil dropped as signs of tensions resurfaced between Saudi Arabia and Iran that could scupper a key supply cut pact.

Crude Oil Outlook 

Oil prices have been falling for whole of last week to levels reached in October after the preliminary agreement by OPEC to cap production, reached at a meeting in Algiers. OPEC has not made clear how much each member should cut, and several have been resistant.

On the MCX, oil prices are expected to trade higher today, international markets are trading higher by 1.09 percent at $44.55 per barrel.

Investment Opportunity In Gold and Silver on Dhanteras

Demand for bullion is expected to pick up ahead of upcoming festivals in India such as Dhanteras and Diwali, when gold is traditionally given as a gift. 

Gold prices eased at the domestic bullion market here ahead of Dhanteras festival, while silver too turned weak owing to lower demand from consuming industries. 

Spot gold was little changed at USD 1,268.31 per ounce at 0111 GMT. The safe-haven asset is up about 0.2 percent so far this week.

Commodity Tips Standard gold (99.5 purity) declined by Rs 50 to close at Rs 30,060 per 10 grams from Wednesday's closing level of Rs 30,110. 

Pure gold (99.9 purity) also went down by a similar margin to finish at Rs 30,210 per 10 grams as against Rs 30,260 previously. 

Silver (.999 fineness) to moved down by Rs 10 to conclude at Rs 43,090 per kg from Rs 43,100 previously. 

Free MCX Tips: Globally, gold rose marginally, on track to end the week barely changed as the market waited for more signs about the timing of an expected US interest rate rise from the Federal Reserve. 

Silver was up 0.6 per cent at $17.69 an ounce. 

Sensex, Nifty End Flat | Free Commodity Tips

CLOSING BELL

SENSEX UP + 21.20 @ 28082.34,

NIFTY FUTURE UP + 22.25 @ 8745.00,

BANK NIFTY FUTURE UP + 1.10 @ 19488.55,

Want Free Commodity Tips with accuracy, call at +91-7415033556.

3:30 pm Market closing: The market has ended with minor gains amid low volume. The Sensex was up 21.20 points at 28082.3 and the Nifty was up 11.20 points or 0.1 percent at 8708.80. About 1710 shares have advanced, 1180 shares declined, and 135 shares are unchanged. 

 

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