Mcx Commodity Market News : Morning Session - 04.08.2016
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Cardamom tad lower amid soft physical demand
04/08/2016 12:39
CARDAMOM : Down Trend
Cardamom futures fell during noon trade in the domestic market on Thursday as investors and speculators stayed cautious over booking fresh positions in the agri-commodity amid sluggish physical demand for cardamom in the domestic spot market.
Further, abundant supplies amid higher physical arrivals from the major cardamom producing belts in the country also exerted downward pressure on domestic cardamom prices.
At the MCX, Cardamom futures for August 2016 contract is trading at Rs 951.7 per kg, down by 0.07 per cent, after opening at Rs 924, against a previous close of Rs 952.4. It touched the intra-day low of Rs 924. (At 12:41PM).
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Firm physical demand buoys Mentha Oil
04/08/2016 12:34
MENTHAOIL : Down Trend
Mentha Oil futures climbed 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 mentha oil from major consuming industries in the spot market.
Further, restricted supplies amid lower physical arrivals from the major Mentha Oil producing regions also exerted upward pressure on domestic prices.
At MCX, Mentha oil futures for July 2016 contract, at MCX, were trading at Rs 942 per kg, up by 0.30 per cent after opening at Rs. 941.8, against the previous closing price of Rs. 939.2. It touched the intra-day high of Rs. 946.5. (At 12:30 PM).
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Silver lower ahead of Friday’s US jobs data
04/08/2016 12:26
SILVER : Down Trend
Silver futures fell during noon trade in the domestic market on Thursday as investors and speculators exited positions in the precious metal amid caution ahead of Friday’s US jobs data which may offer some cues over the timing of the next US Fed interest rate hike.
Analysts are expecting a 180K addition to US non-farm payrolls in July after a 287,000 increase in June. Solid jobs numbers may bolster the case for a rate hike in 2016, dimming the lure for the bullion as a store of value.
Chicago Federal Reserve Bank President Charles Evans on Wednesday has said that he favours an interest rate hike this year.
At the MCX, Silver futures for September 2016 contract is trading at Rs 47,230 per 10 grams, down by 0.93 per cent, after opening at Rs 47,633, against a previous close of Rs 47,671. It touched the intra-day low of Rs 46,956. (At 12:21 PM).
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Copper slips on sluggish US housing data
04/08/2016 12:16
COPPER : Down Trend
Copper futures fell during noon trade in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid soft US housing data which dashed the demand prospects for copper, a metal widely used in construction and building activities.
While a mortgage applications index in the US fell 3.5 per cent last week, marking a third straight decline, purchases also dropped, and construction spending in June surprisingly fell 0.6 per cent.
At the MCX, copper futures for August 2016 contract is trading at Rs 323.85 per kg, down by 0.51 per cent, after opening at Rs 325.2, against a previous close of Rs 325.5. It touched the intra-day low of Rs 323.45. (At 12:14 PM).
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Oil regains bite after US inventory data
04/08/2016 11:23
CRUDEOIL : Down Trend
Crude oil futures climbed during late morning trade in the domestic market on Thursday as investors and speculators booked fresh positions in the energy commodity after a bigger-than-expected drawdown in US gasoline inventories. Traders shrugged off a 1.4 million barrels rise in US crude stockpiles to 522.5 million barrels in the week ended July 29 and focused on data showing a 3.26 million barrels drop in gasoline inventories and a 266,000 barrels a day jump in refiners’ crude demand. Further, crude storage at Cushing, the biggest US oil storage hub in the US, fell by 1.12 million barrels to 64.1 million barrels last week. At the MCX, Crude oil futures for July 2016 contract is trading at Rs 2,760 per barrel, up by 0.73 per cent, after opening at Rs 2,749, against a previous close of Rs 2,740. It touched the intra-day high of Rs 2,765. (At 11:13 AM).
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Yellow metal slips on profit booking
04/08/2016 11:09
GOLD : Down Trend
Gold futures were trading lower during the morning trade in the domestic market on Thursday following a market correction brought on by participants looking to sell and book profits following the recent price upticks. Further, firm dollar also put pressure on gold and influenced the prices for gold in the futures trade. At the MCX, gold futures for August 2016 contract is trading at Rs 31,492 per 10 grams, down by 0.37 per cent, after opening at Rs 31,506, against a previous close of Rs 31,608. It touched the intra-day low of Rs 31,492 (at 10:57 hours).
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Mentha oil futures gain on spot demand
04/08/2016 10:57
MENTHAOIL : Down Trend
Mentha oil futures were trading higher during the morning trade in the domestic market on Thursday as participants indulged in building up fresh positions in the agri-commodity amid a surge in physical demand from major consuming industries for mentha oil in the domestic spot market. At the MCX, Mentha oil futures for August 2016 contract were trading at Rs 944.20 per kg, up by 0.53 per cent after opening at Rs 941.80, against the previous closing price of Rs 939.20. It touched the intra-day high of Rs 946.50 (at 10:57 hours).
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Muted demand drags down cardamom futures by 0.55%
04/08/2016 10:53
CARDAMOM : Down Trend
Cardamom futures were trading lower during the morning trade in the domestic market on Thursday as speculators trimmed their bets in the agri-commodity amid a decline in physical demand for cardamom in the domestic spot market. Further, sufficient supplies amid higher physical arrivals from the major cardamom producing belts in the country too exerted downward pressure on domestic cardamom prices. At the MCX, Cardamom futures for August 2016 contract is trading at Rs 947.20 per kg, down by 0.55 per cent, after opening at Rs 924, against a previous close of Rs 952.40. It touched the intra-day low of Rs 924 (at 10:53 hours).
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