Mcx silver tips: Gold regained sheen with its price surging by Rs 305 to over 7-week high

Mcx silver tips: Gold regained sheen with its price surging by Rs 305 to over 7-week high of Rs 27,355 per 10 grams at the bullion market here today, tracking a firm global trend along with brisk buying by jewellers to meet wedding demand. Silver also spurted by Rs 1,000 to Rs 37,500 per kg on increased offtake by industrial units and coin makers.Bullion traders attributed the sharp rise in gold prices to firm global cues where it rebounded from five-week low. Speculation that the US Federal Bank may wait longer before raising rates weakened the dollar to a seven-week low, boosting demand for gold. Besides, increased buying by jewellers in the local market to meet marriage season demand supported the gains in India.Gold in New York, which normally sets price trend on the domestic front, shot up by 1.80 per cent to $1,201.70 an ounce and silver by 4.09 per cent to $16.40 an ounce in yesterday’s trade.In the national capital, gold of 99.9 per cent and 99.5 per cent purity spurted by Rs 305 each to Rs 27,355 and Rs 27,205 per 10 grams, respectively, a level last seen on March 2. Sovereign, however, remained steady at Rs 23,700 per piece of eight grams. Following gold, silver ready recorded significant jump of Rs 1,000 to Rs 37,500 per kg and weekly-based delivery by Rs 875 to Rs 37,055 per kg. Silver coins also spurted by Rs 1,000 to Rs 56,000 for buying and Rs 57,000 for selling of 100 pieces.

Mcx silver tips: Gold futures closed lower in the domestic and overseas market

Mcx silver tips: Gold futures closed lower in the domestic and overseas market on Friday as investors and speculators exited positions in the precious metal as a record rally in US stocks dampened the demand for the yellow metal as an alternative asset. Meanwhile, caution ahead of the US Federal Reserve’s two-day meet beginning this Tuesday which may offer fresh cues over the timing of a maiden US interest rate hike since 2006 also weighed on sentiment. Gold tends to benefit from ultra loose monetary policies by global central banks. Investors weighed a mixed US factory report which showed a rebound in durable goods orders in March but softness in capital spending. However, a weaker dollar boosted the demand for the bullion as an alternative asset, trimming losses in gold futures. Weaker greenback makes gold cheaper for those holding other currencies, thus boosting demand. Gold may remain lower today amid caution ahead of FOMC meet this week. At the MCX, Gold futures for June 2015 contract closed at Rs 26,701 per 10 gram, down by 0.74 per cent after opening at Rs 26,867, against the previous closing price of Rs 26,900. It touched the intra-day low of Rs 26,630 till the closing.

Gold futures closed lower in the domestic and overseas market

Mcx silver tips: Gold futures closed lower in the domestic and overseas market on Friday as investors and speculators exited positions in the precious metal as a record rally in US stocks dampened the demand for the yellow metal as an alternative asset. Meanwhile, caution ahead of the US Federal Reserve’s two-day meet beginning this Tuesday which may offer fresh cues over the timing of a maiden US interest rate hike since 2006 also weighed on sentiment. Gold tends to benefit from ultra loose monetary policies by global central banks. Investors weighed a mixed US factory report which showed a rebound in durable goods orders in March but softness in capital spending. However, a weaker dollar boosted the demand for the bullion as an alternative asset, trimming losses in gold futures. Weaker greenback makes gold cheaper for those holding other currencies, thus boosting demand. Gold may remain lower today amid caution ahead of FOMC meet this week. At the MCX, Gold futures for June 2015 contract closed at Rs 26,701 per 10 gram, down by 0.74 per cent after opening at Rs 26,867, against the previous closing price of Rs 26,900. It touched the intra-day low of Rs 26,630 till the closing.

Mcx silver tips: Gold futures surged in the domestic market on Thursday

Mcx silver tips: Gold futures surged in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market as a tumbling US dollar boosted the appeal of the bullion as an alternative asset. Stronger greenback makes gold cheaper for those holding other currencies, thus bolstering demand. Disappointing US factory, housing and labour market data signaled softness in the world’s biggest economy, boosting the case for the Federal Reserve to delay monetary tightening, and bolstering the lure for gold as a store of value. Thursday’s economic releases showed an uptick in US jobless claims last week, a drop in new home sales in March and slower gains in manufacturing in April. Gold may trade on a subdued note today as investors stay cautious ahead of US durable goods orders data which will offer further cues over the economy’s health. At the MCX, Gold futures for June 2015 contract closed at Rs 26,900 per 10 gram, up by 2.58 per cent after opening at Rs 26,640, against the previous closing price of Rs 26,624. It touched the intra-day high of Rs 26,917 till the closing.

Gold prices plunged by Rs 200 to trade at Rs 27,000 per 10 grams

Mcx silver tips
Gold prices plunged by Rs 200 to trade at Rs 27,000 per 10 grams at the bullion market today on weak overseas cues and easing demand from jewellers. Silver also drifted by Rs 350 to Rs 36,250 per kg due to reduced offtake by industrial units and coin makers. Bullion traders said a weak trend overseas where Gold was priced at lowest level in over one week after signs of a recovery in the US economy supported the case for higher borrowing costs, mainly influenced sentiments here. Globally, gold in Singapore, which normally sets price trend on the domestic front, fell 0.2 per cent to USD 1,184.45 an ounce, the lowest since April 14. In the national capital, gold of 99.9 and 99.5 per cent purity dropped by Rs 200 each to Rs 27,000 and Rs 26,850 per 10 grams, respectively. It had gained Rs 100 yesterday. The Sovereign, however, remained flat at Rs 23,700 per piece of eight grams in restricted buying. In line with gold, silver ready also declined by Rs 350 to Rs 36,250 per kg and weekly-based delivery by Rs 245 to Rs 35,940 per kg. Silver coins, however, continued to trade at previous levels of Rs 55,000 for buying and Rs 56,000 for selling of 100 pieces.

Mcx silver tips and gold tips: Gold futures ended higher in the domestic and overseas market

Mcx silver tips and gold tips: Gold futures ended higher in the domestic and overseas market on Tuesday as investors and speculators booked fresh positions in the precious metal as a weaker dollar boosted the appeal of the precious metal as an alternative asset. Weaker greenback makes gold cheaper for those holding other currencies, thus bolstering demand. Further, lingering worries over Greece’s possible exit from the Euro area and elections in the UK next month amid fears that the country may head for referendum over its EU membership bolstered safe haven demand for the bullion. A media report emerged that the European Central Bank was pondering restricting funding to Greek banks, a move that could push Greece closer to a catastrophic default. Gold futures may trade on a steady note today ahead of key US housing data which will offer further cues over the health of the world’s biggest economy. At the MCX, Gold futures for June 2015 contract closed at Rs 26,936 per 10 gram, up by 0.37 per cent after opening at Rs 26,880, against the previous closing price of Rs 26,837. It touched the intra-day high of Rs 26,950 till the closing.

Zinc futures closed higher in the domestic market on Tuesday

Commodity updates: Zinc futures closed higher in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid strong physical demand for zinc in the domestic spot market. However, a drop in investor confidence in Germany this month signaled a cooling recovery in Europe’s biggest economy, clouding the demand outlook for industrial metals, curbing gains in Zinc futures. The gauge measuring German investor confidence fell to 53.3 in April, the first drop in six months, from 54.8 in March, ZEW said. At the MCX, Zinc futures for April 2015 contract closed at Rs 138.95 per 1 kg, up by 0.72 per cent after opening at Rs 137.9, against the previous closing price of Rs 137.95. It touched the intra-day high of Rs 139.1 till the closing.

Mcx silver tips: Silver futures fell in the domestic market on Monday

Mcx silver tips: Silver futures fell in the domestic market on Monday as investors and speculators exited positions in the precious metal after firming US inflation raised speculation that the US Federal Reserve may begin pondering an exit from its zero money policy stance in the coming months, dimming the appeal of the bullion as a store of value.Core consumer prices in the US on an annual basis rose at the quickest pace since October, up 1.8 per cent in March 2015, while they climbed 0.2 per cent from February.At the MCX, Silver futures for June 2015 contract is trading at Rs 36,399 per 10 gram, down by 0.15 per cent after opening at Rs 36,777, against the previous closing price of Rs 36,455. It touched the intra-day low of Rs 36,263.

Commodity updates: Zinc prices rose by 0.58 per cent on Friday

Commodity updates: Zinc prices rose by 0.58 per cent on Friday at the domestic markets due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 300 metric tonnes to 495550 metric tonnes as on April 17, 2015. Zinc futures for April 2015 contract, at MCX, were trading at Rs 139.70 per kg, up by 0.58 per cent after opening at Rs. 138.70 against the previous closing price of Rs. 138.90. It touched the intra-day high of Rs. 139.75 till the trading.

Crude oil prices fell by 1.29 per cent on Friday at the domestic markets after OPEC said that its output surged in March, adding to a global glut. The Organization of the Petroleum Exporting Countries (OPEC) said that its March production jumped 810,000 barrels per day (bpd), to 30.79 bpd which is equivalent to a third of global supply. At the MCX, crude oil futures for June 2015 contract were trading at Rs. 3,513 per barrel, down by 1.29 per cent, after opening at Rs. 3,536 against the previous closing price of Rs. 3,559. It touched the intra-day low of Rs. 3,500 till the trading.

Copper prices rose by 0.11 per cent on Wednesday

Mcx silver tips and copper tips: Copper prices rose by 0.11 per cent on Wednesday at the domestic markets as dismal Chinese growth data fuelled speculation policymakers in Beijing will have to do more to jumpstart the economy raising expectations of more stimulus soon. China’s economy grew 7.0 per cent in the first quarter, in line with forecasts and down from growth of 7.3 per cent in the preceding quarter. At the MCX, copper futures for April 2015 contract were trading at Rs. 372.90 per 1 kg, up by 0.11 per cent, after opening at Rs. 372.45 against the previous closing price of Rs. 372.50. It touched the intra-day high of Rs. 374.30 till the trading. (At 4.25 PM today). However, gains were curbed due to the surge in the copper stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME copper stocks rose by 7200 metric tonnes to 337250 metric tonnes as on April 15, 2015.