15/09/2017
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15/09/2017
Crude oil futures extend gains on Thursday: Crude oil futures rallied on Thursday, with Nymex crude surging above $50 a barrel for the first time in a month. The prices were buoyed by a pair of reports earlier in the week suggesting that rising global oil demand could stem the glut in crude supplies. Also, investors continue to cheer an International Energy Agency (IEA) report released Wednesday estimating global oil demand this year will climb by the most since 2015.
Copper futures end lower on Thursday: Comex copper futures ended lower on Thursday, while London copper prices too fell to a four-week low after some weaker than expected data from China pointed to slowing demand from the metal’s top consumer.
Gold futures end higher on Thursday: Gold futures ended higher on Thursday as North Korea threatened the United States and Japan, and the dollar softened despite strong US consumer inflation data, which could allow further interest rate increases from the Federal Reserve. The Labor Department released a report showing its Consumer Price index rose 0.4% last month after edging up 0.1% in July. The uptick in consumer prices in August was the largest monthly gain in seven months and lifted the year-on-year increase in the CPI to 1.9% from 1.7% in July.
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15/09/2017
TECHNICAL ANALYST
GOLD
OUTLOOK: TREND: - UP RESISTANCE: - 30100, 30200. SUPPORT: - 29900, 29800. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK
COMEX Gold futures recovered impressively yesterday amid soaring global geopolitical worries and bargain buying. North Korea swung into action yet again as it delivered another missile test and the U.N. Security Council decided to hold an emergency meeting following it. COMEX Gold jumped amid these cues and currently trades at $1233 per ounce, up 0.28% on the day. MCX Gold futures are likely to witness a firm opening on this. The local futures ended up 0.51% at Rs 30039 per 10 grams in last session as a break above Rs 30K triggered good buying in closing trades.
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15/09/2017
SILVER
OUTLOOK: TREND: - UP RESISTANCE: - 41400, 41200. SUPPORT: - 40800, 40600. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK The Prices of silver were down on Thursday. And at end of the day the prices were settled at 41140 per 30 kilogram. On the higher side Rs 41187 per 30 kilogram as resistances were noted while lows were at Rs 40800 per 30 kilograms as support noted. The metals remain under a volatile zone.
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15/09/2017
COPPER
OUTLOOK: TREND: - DOWN RESISTANCE: - 423.50,426. SUPPORT: -417.50, 415. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK Copper prices continued to fall Thursday, with weaker-than-expected Chinese economic data magnifying the jitters currently being felt by traders and sending the base metal to its lowest in nearly a month. Copper prices have now tumbled by more than 7% since hitting their three-year peak on Sept. 6. With margin-seeking investors selling their copper holdings in to London Metal Exchange warehouses, stocks increased a further 16% during Wednesday trading. Indian Copper was trading at Rs 421.3 per kg, down 0.68%. The prices tested a high of Rs 425.6 per kg and a low of Rs 417.8 per kg.
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15/09/2017
CRUDE OIL OUTLOOK: TREND: - UP RESISTANCE: - 3220, 3250. SUPPORT: - 3160, 3030. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK WTI Crude oil futures witnessed sharp gains yesterday, rallying after the US gasoline inventories fell the most on record as refineries continued to be hampered by damage from Hurricane Harvey, according to the Energy Information Administration (EIA). However, prices eased from one week highs of $49.40 per barrel and currently linger in red. MCX Crude oil futures closed up 2.20% at Rs 3160 per barrel.
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15/09/2017
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15/09/2017
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