BULLION METALS OUTLOOK GOLD -It had been a pleasant week for gold investors until last day correction. After a steep climb from around $ 1,250 to $ 1,260 per oz, the price of the precious metal started to fall and by last month was back at around $1,230. The environment for gold investments remains positive. In the background, global record debt burdens have not magically vanished. Gold prices rallied higher on late Thursday after US President Donald Trump ordered for a missile strike against Syrian airfield. Prices tested a high of $ 1269.4 on Friday and trading in a range of $ 1260 to $ 1270 levels. Gold prices could hold steady for near term for a target of $ 1275 to $ 1280 with its important near term support at $ 1250. Gold prices in MCX opened higher on Friday around 0.8% and face its resistance at Rs.28950 levels. INR appreciation capped Gold upside momentum. Gold prices in MCX could rally after a break of Rs.28950 for a near term target of Rs.29050 to Rs.29100. As of Now gold crucial Resistance would be around 28780-28860 and Supoort 28620-28540. GOLD CHART-
Chart Details - Gold price trading settles at the intraday bullish channel’s support, noticing that the EMA50 keeps providing positive support for the price to protect the trading within this channel, accompanied by stochastic approach from the oversold levels now. Therefore, these factors encourage us to keep our bullish trend expectations in the upcoming period, and the targets begin by confirming breaching 1263.17 level to open the way towards 1300.00 as a next main station, being aware that breaking 1250.00 level will push the price to test the critical support levels between 1231.13 and 1222.00 before any new attempt to rise.Expected trading range for this week is between 28240-28540 support and 29280-29370 resistance on MCX. The Gold facing a Key resistance level at 1260.00 on COMEX. Price action must clearly breach this level to continue further positive growth
. Monday, 10 .April .2017
SILVER - We continue to see more and more precious metals investors becoming negative because the metal prices or values have not performed as many have expected. While We thought the silver prices would correct back higher sooner. However, the revaluation of Silver is not away as some who believe that the Fed and Central Banks will continue manipulating the market indefinitely. Although there would be some good tactical opportunities to invest in silver in the coming weeks, While there was something of a correction in Silver in the latter part of this week, our view of it as a valuable asset to hold in an inflationary backdrop remained. Silver prices rallied higher in COMEX about 0.8% and trading in a range of $18.35 to $18.43. Silver prices were likely to face its important resistance at $ 18.5. A break above $18.5 with volumes could take prices to new high of around $18.75 to $19 levels. Silver in MCX Futures opened higher at around 0.5%, however INR appreciation keeping prices under Rs.42500. Silver prices could rally in evening session above Rs.42500 for a near term target of Rs.42800 to Rs.43000.
Detail of Chart -There is upper Bollinger band of the strong improving pro move is becoming on Rs. 41900 in MCX. Technically Silver is in Bullish trend for the upcoming week, as we have seen Silver prices rose on Friday to a five-week high, heading for the fourth weekly profit in a row after drawing support from higher demand on safe havens today. Silver last traded at $18.32 an ounce, up from the opening of $18.25, with an intraday high at $18.49, and a low at $18.20. As per momentum oscillators the silver to trade in bullish trend in upcoming week, the Bollinger Band clearly indicating the silver may move towars the next crucial Resistance of 41500-41580. The Crucial Resistance for metal is 41530-41620 and Support is 40880-40620
✍ MCX DAILY LEVELS DAILY
EXPIRY DATE
R4
R3
R2
R1
PP
S1
S2
S3
S4
ALUMINIUM
31-MARCH-17
134
131
128
126
125
122
119
116
COPPER
28-APR-2017
402
393
384
380
375
371
366
357
348
CRUDE OIL
20-MARCH-17
3596
3517
3438
3399
3359
3320
3280
3201
3122
GOLD
05-APR-2017
29799
29460
29121
28902
28782
28563
28443
28104
27765
LEAD
31-MARCH-2017
164
158
152
148
146
142
140
134
128
NATURAL GAS 28-MARCH-2017
226
221
216
213
211
208
206
201
196
NICKEL
31-MARCH-2017
706
688
670
663
652
645
634
616
598
SILVER
05-MAY-2017
45558
44254
42950
42165
41646
40861
40342
39038
37734
ZINC
31-MARCH-2017
190
184
178
175
172
169
168
160
154
123
✍ MCX WEEKLY LEVELS WEEKLY
EXPIRY DATE
R4
R3
R2
R1
PP
S1
S2
S3
S4
ALUMINIUM
31-MARCH-17
140
135
130
128
125
123
120
115
110
COPPER
28-APR-2017
429
412
395
385
378
368
361
344
327
CRUDE OIL
20-MARCH-17
3735
3604
3473
3416
3342
3285
3211
3080
2949
GOLD
05-APR-2017
30484
29888
29292
28988
28696
28392
28100
27504
26908
LEAD
31-MARCH-2017
174
165
156
150
147
141
138
129
120
NATURAL GAS
28-MARCH-2017
252
238
224
217
210
203
196
182
168
NICKEL
31-MARCH-2017
761
726
691
673
656
638
621
586
551
SILVER
05-MAY-2017
46852
45160
43468
42423
41776
40731
40084
38392
36700
ZINC
31-MARCH-2017
207
196
185
178
174
167
163
152
141
✍ FOREX DAILY LEVELS DAILY
EXPIRY DATE
R4
R3
R2
R1
PP
S1
S2
S3
S4
USDINR
26-MARCH-17
65.85
65.78
65.56
65.42
65.12
64.88
64.68
64.44
64.32
EURINR
26-MARCH-17
70.12
69.54
69.85
68.87
68.24
67.85
67.52
67.15
GBPINR
26-MARCH-17
86.57
85.11
83.40
82.43
81.16
80.35
80.03
79.82
78.98
JPYINR
26-MARCH-17
62.49
61.70
60.76
59.30
58.49
57.40
56.27
55.47
53.78
66.82
✍ FOREX WEEKLY LEVELS WEEKLY
EXPIRY DATE
R4
R3
R2
R1
PP
S1
S2
S3
S4
USDINR
26-MARCH-17
66.86
65.95
64.52
64.04
63.94
62.78
61.47
61.12
59.52
EURINR
26-MARCH-17
76.32
74.68
72.54
70.65
69.09
68.32
67.53
67.04
66.31
GBPINR
26-MARCH-17
94.15
92.01
90.85
88.94
86.32
84.35
82.69
80.18
78.87
JPYINR
26-MARCH-17
66.13
65.87
64.52
63.72
62.85
58.45
57.20
56.42
55.65
✍ NCDEX DAILY LEVELS DAILY
EXPIRY DATE
R4
R3
R2
R1
PP
S1
S2
S3
S4
SYOREFIDR
20-MAR-2017
652
646
640
637
634
631
628
622
616
SYBEANIDR
20-MAR-2017
2948
2911
2874
2857
2837
2820
2800
2763
2726
RMSEED
20-MAR-2017
4068
3999
3930
3887
3861
3818
3792
3723
3654
JEERAUNJHA
20-MAR-2017
21455
20640
19825
19385
19010
18570
18195
17380
16565
GUARSEED10
20-MAR-2017
4471
4316
4161
4072
4006
3917
3851
3696
3541
TMC
20-MAR-2017
6663
6511
6359
6267
6207
6115
6055
5903
5751
✍ NCDEX WEEKLY LEVELS WEEKLY
EXPIRY DATE
R4
R3
R2
R1
PP
S1
S2
S3
S4
SYOREFIDR
20-MAR-2017
675
662
649
642
636
629
623
610
597
SYBEANIDR
20-MAR-2017
3044
2984
2924
2889
2864
2829
2804
2744
2684
RMSEED
20-MAR-2017
4231
4113
3995
3920
3877
3802
3759
3641
3523
JEERAUNJHA
20-MAR-2017
22828
21498
20168
19557
18838
18227
17508
16178
14848
GUARSEED10
20-MAR-2017
4581
4393
4205
4094
4017
3906
3829
3641
3453
TMC
20-MAR-2017
7097
6815
6533
6353
6251
6071
5969
5687
5405
MCX - WEEKLY NEWS LETTERS ✍ INTERNATIONAL UPDATES ( BULLION & ENERGY ) Gold prices retreated from five-month highs on Friday as the stronger dollar weighed on the precious metal. Gold for June delivery settled up 0.21% at $1,255.95 on the Comex division of the New York Mercantile Exchange, having touched highs of $1,272.85 earlier. Prices surged early Friday after the U.S. launched cruise missile strikes on a Syrian air base in the aftermath of suspected chemical-weapons attacks. But the precious metal gave back gains as the dollar rose despite disappointing U.S. employment data as investors remained focused on the Federal Reserve’s plans to tighten monetary policy. The Labor Department reported on Friday that the U.S. economy added just 98,000 jobs last month, the fewest since last May and well below the forecast for jobs growth of 180,000. Lower temperatures and winter storms accounted for the slowdown in hiring. The unemployment rate ticked down to a 10-year low of 4.5%, pointing to underlying strength in the labor market. The dollar initially sold off following the release of the weaker-than-anticipated employment data before regaining ground. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.47% to 101.08, the most since March 15 late Friday. The dollar was boosted after New York Fed President William Dudley said on Friday that plans to trim the Fed’s balance sheet later this year would prompt only a "little pause" in its rate hike plans. A strong U.S. dollar usually weighs on gold, as it dampens the metal's appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies. Elsewhere in precious metals trading, silver was down 1.39% at $17.99 a troy ounce late Friday. In the week ahead, investors will be eyeing Monday’s speech by Fed Chair Janet Yellen for fresh cues on the timing of the next U.S. rate hike and plans to trim the bank’s balance sheet.Traders will also be looking ahead to Friday’s U.S. data on retail sales and inflation ahead of the long Easter weekend. Gold demand in Asia remained soft this week, with premiums in China notching a slight uptick and those in India remaining unchanged, as higher prices kept physical buyers at bay. Indian demand for the yellow metal fell this week primarily due to a rally in overseas rates, though an appreciating rupee capped upside in local prices. "Retail buyers are struggling to adjust with the sudden price rise. They are delaying purchases expecting a correction in prices. In the local market, gold futures MAUc1 were trading around 28,900 rupees per 10 grams on Friday, up 1.5 percent from a week ago. "If prices remain at higher level for a week or if they rise above 29,000 rupees then people will resume buying. They are waiting for a clear trend,". The Indian rupee has risen 5.5 percent against the U.S. dollar so far in 2017, partly offsetting gains in overseas gold prices. Dealers in India were charging a premium of up to $1 an ounce this week over official domestic prices, unchanged from the last week. The domestic price includes a 10 percent import tax. "The demand should improve by month end due to Akshaya Trititya," said a Mumbai-based gold dealer with a private bank. In the last week of April, Indians will celebrate the Akshaya Trititya festival, when buying gold considered auspicious. In top consumer China, premiums were around $10 to $12 per ounce against the
international benchmark XAU= , up from last week's to $8 to $10. "The demand has been quite stable this year. While investors are looking to sell, the physical flows are quite stable," a trader with a Shanghai-based bullion bank said. Premiums in China had risen early this month as traders said supplies of the precious metal were limited due to tightening import restrictions to stem currency outflows. Hong Kong, premiums were quoted in a range of 70 cents to $1 an ounce, mostly unchanged from last week, while in Singapore, gold was being sold at premiums between around $1.20 to $1.50. "A lot of people, mostly high net worth investors, have been looking into gold kilo bars purely for investments as a safe-haven," said Brian Lan, managing director at gold dealer GoldSilver Central in Singapore. Premiums were flat in Tokyo due to limited demand. Traders, however, said demand for platinum has risen on industrial buying. Gold prices were on track for its fourth straight weekly gain, with the bullion rising over 1 percent so far this week. Gold prices climbed to five-month highs on Friday, as news of U.S. airstrikes against Syria boosted demand for safe-haven assets. On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were up 0.89% at a five-month high of $1,264.55. The June contract ended Thursday’s session 0.38% higher at $1,253.30 an ounce. Futures were likely to find support at $ 1,254.40, Wednesday’s low and resistance at $1,318,60. The precious metal strengthened after the U.S. launched cruise missiles at an airbase in Syria, sparking concerns of an escalation in the Syrian civil war. U.S. President Donald Trump said on Thursday he ordered missile strikes against a Syrian airfield from which a deadly chemical weapons attack was launched. The air strike came during a two-day summit between Trump and Chinese President Xi Jinping which, on Thursday, had a strong focus on trade and North Korea's military program. Trump had warned that he would be ready to act unilaterally to address North Korea's nuclear program if China does not step up to help in the matter. Market participants were also looking ahead to the U.S. nonfarm payrolls report, due later Friday, a day after the release of upbeat jobless claims data. Elsewhere in metals trading, silver futures for May delivery jumped 1% to $18.428 a troy ounce, while copper futures for May delivery declined 0.53% to $2.645 a pound. Gold prices climbed to five-month highs on Friday, as news of U.S. airstrikes against Syria boosted demand for safe-haven assets. On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were up 0.89% at a five-month high of $ 1,264.55. The June contract ended Thursday’s session 0.38% higher at $ 1,253.30 an ounce. Futures were likely to find support at $1,254.40, Wednesday’s low and resistance at $ 1,318,60. The precious metal strengthened after the U.S. launched cruise missiles at an airbase in Syria, sparking concerns of an escalation in the Syrian civil war. U.S. President Donald Trump said on Thursday he ordered missile strikes against a Syrian airfield from which a deadly chemical weapons attack was launched. The air strike came during a two-day summit between Trump and Chinese President Xi Jinping which, on Thursday, had a strong focus on trade and North Korea's military program. Trump had warned that he would be ready to act unilaterally to address North Korea's nuclear program if China does not step up to help in the matter. Market participants were also looking ahead to the U.S. nonfarm payrolls report, due later Friday, a day after the release of upbeat jobless claims data Elsewhere in metals trading, silver futures for May delivery jumped 1% to $ 18.428 a troy ounce, while copper futures for May delivery
declined 0.53% to $ 2.645 a pound. Gold spiked to five-month peaks Friday in Asia after the U.S. military launched cruise missile strikes against a Syrian air base controlled by President Bashar al-Assad's forces. Gold for April delivery on the Comex division of the New York Mercantile Exchange rose 0.93% to $1,265.00 a troy ounce. Copper dipped 0.04% to $2.658 a pound. The missile strike came after President Donald Trump hosted Chinese President Xi Jinping in Florida for a summit that is expected to focus in major part on North Korea. Overnight, gold prices traded higher on Thursday, despite increased expectations of a June rate hike, after the release of a better than expected initial jobless claims report. Gold futures eased from a session high $1,260.65, after the U.S. Department of Labor reported that initial jobless claims decreased by 25,000 to 234,000 in the week ending April 1 from the previous week’s revised total of 259,000. Analysts had expected jobless claims to drop by 8,000 to 250,000 last week. Meanwhile, expectations of June rate hike grew, after the Federal Reserve released the minutes from its March meeting on Wednesday. The Federal Reserve said that it would start to unwind its $ 4.5 trillion balance sheet “later this year” and maintained its view, rate hikes would be gradual. Some analysts supported the idea that the Federal Reserve is poised to increase interest rates in June. “We have expressed a strong conviction that, unless the data deteriorate or financial conditions ratchet tighter, the Fed will next hike rates at its June meeting.” 58% of traders expect a rate hike in June compared to 50% of traders prior to the release of the Fed minutes. Gold is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion. Meanwhile, a two-day summit between U.S. President Donald Trump and Chinese President Xi Jinping later today, is expected to be closely watched by investors, as a negative outcome could weigh on China-U.S. trade relations. Gold prices firmed in European trading on Tuesday, extending gains into a third session as investors turned their attention to U.S. trade data ahead of President Donald Trump's meeting with Chinese President Xi Jinping. Comex gold futures rose $ 5.80, or around 0.5%, to $ 1,259.80 a troy ounce by 2:55 AM ET, after hitting an overnight high of $ 1,260.15, its strongest level in a week. Meanwhile, spot gold was up $4.20 at $ 1,257.80. Prices of the yellow metal ended gained $ 2.80 on Monday as investors parsed through mixed manufacturing data and weaker-than-expected auto sales numbers. Also on the Comex, silver futures for May delivery tacked on 15.0 cents, or about 0.8%, to $18.36 a troy ounce. It reached its highest since March 2 at $18.37 earlier. The U.S. trade deficit data is scheduled for release Tuesday at 8:30AM ET. Economists expect it to have narrowed in February to $ 44.8 billion from a five-year high of $ 48.5 billion a month earlier. The main focus for markets this week centers on President Donald Trump's first meeting with Chinese counterpart Xi Jinping on Thursday and Friday. The U.S. dollar index was at 100.44 in London morning trade, keeping distance from last week's four-and-a-half month low of 98.67. Market experts do not expect the Federal Reserve to raise interest rates again until June. Futures traders are pricing in around a 50% chance of a hike at the Fed's June meeting. Odds of a September increase was seen at about 75%. The precious metal is sensitive to moves in U.S. rates, which lift the opportunity cost of holding Non-Yielding assets such as bullion. A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases. Elsewhere in metals trading.
Gold rose on Monday on geopolitical worries, but was trading in a tight range in the absence of any fresh clues on U.S. monetary policy and as the market looked to economic data later in the week for more direction. Supporting gold was geopolitical tension sparked by U.S. President Donald Trump who on Sunday held out the possibility of using trade as a lever to secure Chinese cooperation against North Korea. equity markets eased on Monday as investors assessed how Trump's protectionist stance on trade will play out during meetings with Chinese President Xi Jinping slated for Thursday and Friday. Spot gold XAU= was 0.3 percent higher at $ 1,252.66 per ounce by 2:15 p.m. EDT, trading in a range between $ 1,244.05 and $ 1,253.52. "While the European elections, Brexit negotiations and Trump's foreign policies could reignite safe-haven interest, gold is not without hurdles. "We believe the fragile physical market and Fed rate hikes will create a softer footing for gold prices. We maintain our view that Q2 and Q3-2017 are likely to mark the strongest quarters for gold prices this year." Gold is often seen as an alternative investment during times of geopolitical and financial uncertainty. Bullion largely shrugged off a firmer dollar .DXY, which hit a twoweek high against a basket of currencies before easing to trade up 0.2 percent. The dollar was up after U.S. construction spending and manufacturing data on Monday were positive overall, affirming the economy's steady improvement. is holding well in spite of being torn between buyers and sellers now as interest rate curve flattening in the U.S. indicates possibly less inflation. New York Fed President William Dudley, an influential monetary policymaker, did not comment on interest rates in his prepared remarks on Monday. The focus has now turned to U.S. payrolls data on Friday which could provide more clues on the direction of interest rates. Spot gold notched a quarterly gain of about 8.4 percent on Friday, marking its best quarter in a year, mostly driven by uncertainties around Trump's policies and elections in Europe. Hedge funds and money managers raised their net long position in COMEX gold for the second straight week in the week to March 28, and boosted it slightly in silver, U.S. Commodity Futures Trading Commission data showed on Friday. other precious metals, spot silver XAG= edged down 0.3 percent to $ 18.17 per ounce but held near one-month highs. Gold prices edged lower on Monday, kicking the week off with modest losses as investors awaited fresh signals about the timing of the next U.S. interest rate increase this year. Comex gold futures dipped $ 2.50, or around 0.2%, to $ 1,248.65 a troy ounce by 2:45AM ET. Meanwhile, spot gold was down $ 2.30 at $ 1,246.80. Also on the Comex, silver futures for May delivery shed 5.3 cents, or about 0.3%, to $ 18.20 a troy ounce. Global financial markets will focus on Wednesday’s minutes of the Federal Reserve’s latest policy meeting for further hints on the timing of the next U.S. rate hike. There are also a few Fed speakers in the coming week, with New York Fed President William Dudley, Philadelphia Fed President Patrick Harker and Richmond Fed President Jeffrey Lacker all set to speak Monday. Dudley is on tap again on Friday. Investors will also keep an eye on key U.S. economic data, with Friday's monthly employment report in the spotlight. Besides the employment Report, this week's data-heavy calendar also features reports on U.S. auto sales, construction spending and ISM manufacturing on Monday; trade figures and factory orders on Tuesday; ADP private sector Nonfarm payrolls and the ISM non-manufacturing survey on Wednesday; weekly jobless
claims on Thursday, followed by wholesale inventories and consumer credit on Friday.
Ahead of the coming week significant events likely to affect the markets.
Monday, April 10 Fed Chair Janet Yellen is to speak at the University of Michigan.
Tuesday, April 11 Australia is to release private sector data on business confidence. The U.K. is to release what will be a closely watched report on consumer price inflation. The ZEW Institute is to report on German economic sentiment.
Wednesday, April 12 China is to release figures on consumer and producer price inflation. The UK is to release its monthly employment report. The Bank of Canada is to announce its benchmark interest rate and publish a policy statement outlining economic conditions and the factors affecting the policy decision. The announcement is to be followed by a press conference.
Thursday, April 13 Australia is to produce its monthly employment report. China is to publish trade figures. Canada is to report on manufacturing sales and new house price inflation.
The U.S. is to release reports on producer price inflation, jobless claims and consumer sentiment.
Friday, April 14 Financial markets in Australia, New Zealand, Europe and Canada will be closed for the Good Friday
holiday. The U.S. is to round up the week with data on consumer price inflation and retail sales.
� ENERGY Oil prices were firm on Monday, supported by strong demand and political uncertainty in Syria, although another rise in U.S. drilling activity kept a lid on gains. Brent crude futures LCOc1 , the international benchmark for oil, were at $ 55.39 per barrel at 0109 GMT, up 15 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate crude futures CLc1 were up 24 cents, or 0.5 percent, at $52.48 a barrel. Traders said prices were being supported by strong demand, and also political uncertainty following the U.S. missile air strikes on Syria late last week. ANZ bank said on Monday that strong oil demand and "an unsettled global backdrop (is) leaving the market very finely balanced." However, another increase in U.S. oil drilling, which has run up for 12 straight weeks to 672 rigs - the highest level since August 2015, kept markets from breaking last week's one-month highs of over $56 per barrel. bank Goldman Sachs said following the rig data release that year-on-year U.S. oil production "would rise by 215,000 barrels per day in 2017" once a backlog of production waiting to be brought back online was taken into account. Oil futures settled higher for the fourth session in a row on Friday, extending a rally to the strongest level in around a month after the U.S. fired missiles at a Syrian government air base. Oil pared some of the gains later in the session as concerns about a wider escalation in the region faded and U.S. economic data weighed on global markets. On the ICE Futures Exchange in London, Brent oil for June delivery tacked on 35 cents, or around 0.7%, to settle at $ 55.24 a barrel by close of trade. The global benchmark hit $56.08 earlier Friday, the most since March 7. London-traded Brent futures logged a gain of $1.71, or about 3.1%, on the week, the second weekly increase in a row. Elsewhere, the U.S. West Texas Intermediate crude May contract inched up 54 cents to end at $52.24 a barrel by close of trade. It touched its highest since March 7 at $52.94 earlier in the session. For the week, the U.S. benchmark rose $1.64, or around 3.1%. Crude prices jumped overnight after two U.S. destroyers based in the Eastern Mediterranean fired 59 Tomahawk cruise missiles at a Syrian air base, which the U.S. said was in retaliation to Bashar al-Assad's alleged use of chemical weapons against his own people. But analysts said the initial knee-jerk reaction to the airstrike may have been overdone given Syria’s role as a very minor oil producer and after U.S. officials described the attack as a one-off event that would not lead to wider escalation. Meanwhile, oil traders continued to focus on the ongoing rebound in U.S. shale production, which could derail efforts by other major producers to rebalance global oil supply and demand remained in focus. Oilfield services provider Baker Hughes said late Friday that the number of active U.S. rigs drilling for oil rose by 10 last week, the 12th weekly increase in a row. That brought the total count to 672, the most since September 2015. Earlier in the week, the U.S. Energy Information Administration said that crude oil inventories increased by 1.57 million barrels to yet another all-time high of 535.5 million. It was the 13th weekly build in U.S. stockpiles in the past 15 weeks, feeding concerns about a global glut. Market participants, however, remained optimistic that OPEC would extend its
current deal with non-OPEC producers to cut output beyond June in an effort to rebalance the market. In November last year, OPEC and other producers, including Russia agreed to cut output by about 1.8 million barrels per day between January and June. A joint committee of ministers from OPEC and nonOPEC oil producers will meet in late April to present its recommendation on the fate of the pact. A final decision on whether or not to extend the deal beyond June will be taken by the oil cartel on May 25. Elsewhere on Nymex, gasoline futures for May tacked on 1.6 cents, or about 1% to end at its highest since August 2015 at $1.746 on Friday. It closed up around 2.7% for the week. May heating oil added 1.5 cents to finish at $1.628 a gallon, the most since March 1. For the week, the fuel gained roughly 3.5%. Natural gas futures for May delivery dropped 7.0 cents to $3.261 per million British thermal units, trimming its weekly gain to around 2.2%. In the week ahead, market participants will eye fresh weekly information on U.S. stockpiles of crude and refined products on Tuesday and Wednesday to gauge the strength of demand in the world’s largest oil consumer. Meanwhile, traders will also continue to pay close attention to comments from global oil producers for further evidence that they are complying with their agreement to reduce output this year. Oil pared gains Friday after rising as much as 2% in a knee-jerk reaction to U.S. air strikes against Syria. The strikes were against an airbase which the U.S. claims was use to launch the chemical bombing of a rebel-held area. The move sparked concerns about a possible disruption to oil supplies. Major producers Russia and Iran are backers of the Syrian regime. U.S. crude was up 45 cents, or 0.87%, at $ 52.15 at 07:15 ET. Brent crude added 35 cents, or 0.64%, to $ 55.24. Baker Hughes rig count data are due out later in the session. There are underlying concerns that higher U.S. output could cancel out the impact of cuts by major producers. OPEC and non-OPEC producers are cutting output by 1.8 million barrels a day in the first half. Oil prices soared by around $ 1 per barrel on Friday after the United States launched dozens of cruise missiles at an airbase in Syria. U.S President Donald Trump said he had ordered missile strikes against a Syrian airfield from which a deadly chemical weapons attack was launched earlier this week, declaring he acted in America's "national security interest" against Syrian President Bashar al-Assad. tepid trading before the news, Brent crude futures LCOc1 , the international benchmark for oil, jumped by around $ 1 per barrel, or almost 2 percent, to $55.78 per barrel by 0237 GMT. U.S. West Texas Intermediate crude futures CLc1 also climbed around $1 per barrel, or almost 2 percent, to $52.64 a barrel. It was the highest level for both benchmarks since early March. The strikes rattled global markets. While oil prices surged as traders priced in what has in the past been called a Middle East risk premium, and safe-haven products like gold jumped =XAU , stock markets and the U.S. dollar .DXY slumped. U.S. officials said the military had fired dozens of cruise missiles against the airbase, controlled by Assad's forces, in response to a poison gas attack on Tuesday in a rebel-held area. The Pentagon said it had informed Russia ahead of the strikes, and that it did not target sections of the base in Syria where Russian forces were believed to be present. Oil prices dipped on Friday as ongoing concerns about oversupply outweighed an OPEC-led production cut and strong refinery activity. Brent crude futures LCOc1 , the international benchmark for oil, were at $54.85 per barrel at 0109 GMT, down 4 cents from their last close. U.S. West Texas Intermediate crude futures
CLc1 were down 1 cent at $ 51.69 a barrel. Traders said that despite a recent uptick in sentiment, which this week helped prices reach a one-month high, there was still concern that markets remained oversupplied, even with efforts led by the Organization of Petroleum Exporting Countries to cut supplies to prop up prices. Oil trading data in Thomson Reuters Eikon shows that globally shipped crude volumes stood at 1.4 billion barrels in March, up from 1.1 billion barrels in February, although on a daily basis the figure was similar to February's 45.5 million bpd due to that month's fewer days. Both figures, however, were higher than at any time during the second half of 2016, before the OPEC-led cuts were implemented, implying either poor compliance with the supply reductions, or plentiful alternative supplies. Despite this, there were factors supporting prices, especially strong demand from refineries, and a supply disruption in Canada. "Utilisation rates at refineries jumped 1.9 percent to 90.8 percent, which should result in a drawdown in U.S. crude oil in coming weeks. "A disruption at a Canadian oil sands operation is also raising concerns of tightness in heavy Alberta oil. A fire at Syncrude Canada's a 350,000 barrels per day plant could be offline for weeks," it added. The disruption stemmed from the shutdown of the Syncrude plant after a fire in March damaged the facility and forced the operator to bring forward planned maintenance. Crude prices jumped in Asia on Friday after the U.S. fired dozens of missiles into Syria in response to a chemical weapons attack on civilians. On the New York Mercantile Exchange crude futures for May delivery spiked 1.51% to $52.48 a barrel, while on London's Intercontinental Exchange, Brent gained 1.55% $55.70 a barrel. Meanwhile, market participants turn attention to Baker Hughes rig count, due to be released on Friday at 13:00 EDT. Overnight, crude futures settled higher on Thursday, as expectations that an OPECled cut would be extended beyond June offset bearish U.S. inventories data. Crude futures settled higher for a third straight day, despite renewed concerns that a ramp up in U.S. crude production would dampened OPEC’s efforts to reduce supply, after U.S. crude inventories swelled to a record high on Wednesday. A report from the Energy Information Administration on Wednesday, showed an unexpected rise in U.S. crude inventories, which confounded expectations of a drop in inventories, as the U.S. approaches the ‘summer driving season’. The summer driving season officially kicks off in April, when U.S. consumer demand for gasoline usually peaks during the summer months. Investors, remained hopeful that OPEC would extend its current deal to cut production beyond June in an effort to curb the current glut in supply. In November last year, OPEC and other producers, including Russia agreed to cut output by about 1.8 million barrels per day. Non-OPEC oil producers that joined the global deal to reduce output delivered only 64% of promised cuts in February, an industry source said March 20, which was far below the roughly 90% compliance with the deal from OPEC members. Crude futures settled higher on Thursday, as expectations that an OPEC-led cut would be extended beyond June offset bearish U.S. inventories data. On the New York Mercantile Exchange crude futures for May delivery gained 55 cents to settle at $51.70 a barrel, while on London's Intercontinental Exchange, Brent gained 52 cents to trade at $54.88 a barrel. Crude futures settled higher for a third straight day, despite renewed concerns that a ramp up in U.S. crude production could dampened OPEC’s efforts to reduce supply, after U.S. crude inventories swelled to a record high on Wednesday. A report from the Energy Information
Administration on Wednesday, showed an unexpected rise in U.S. crude inventories, which confounded expectations of a drop in inventories, as the U.S. approaches the ‘summer driving season’. The summer driving season officially kicks off in April, when U.S. consumer demand for gasoline usually peaks during the summer months. Investors, remained hopeful that OPEC would extend its current deal to cut production beyond June in an effort to curb the current glut in supply. In November last year, OPEC and other producers, including Russia agreed to cut output by about 1.8 million barrels per day. Non-OPEC oil producers that joined the global deal to reduce output delivered only 64% of promised cuts in February, an industry source said March 20, which was far below the roughly 90% compliance with the deal from OPEC members. Meanwhile, market participants turn attention to Baker Hughes rig count, due to be released on Friday at 13:00 EDT. Oil climbed to a near one-month high on Wednesday on signs of a gradual tightening in global oil inventories and on concerns about a supply outage at a field in the United Kingdom's North Sea that feeds into an international benchmark price. Prices for Brent crude futures LCOc1 , the international benchmark for oil, were at $ 54.46 per barrel at 0457 GMT, up 29 cents, or 0.5 percent, from their last close. U.S. West Texas Intermediate crude futures CLc1 were up 33 cents, or 0.6 percent, at $ 51.35 a barrel. Both benchmarks on Wednesday hit their highest levels since March 8. "The immediate reason for the move was an unplanned production outage in the North Sea unplanned production outage at the Buzzard oil field in the North Sea. produces about 180,000 barrels per day. It is the largest contributor to the Forties crude stream that is a key component of the physical Brent oil price that the Brent futures contract settles against. Traders also said that prices gained amid slowly tightening market conditions, with the Organization of the Petroleum Exporting Countries leading an effort to cut output. With most of OPEC's crude exported on tankers, tracking ship movements can be a good gauge of market conditions. Shipped oil supplies have fallen by as much as 17 percent this year. The U.S. rig count rose for an 11th straight week last week to 662, making the first quarter of 2017 the strongest quarter for rig additions since mid-2011, according to energy services firm Baker Hughes. Following a slump in 2015 and 2016, U.S. oil production C-OUT-T-EIA has risen 8.5 percent since mid-2016 to 9.15 million bpd, the same level output stood at in 2014, when the market downturn began. "Price upside will... be capped by the recovering U.S. shale sector. Oil prices climbed on Wednesday on signs of gradual tightening in a market bloated by years of overproduction that has left storage tanks around the world brimming with unsold fuel. Prices for frontmonth Brent crude futures LCOc1 , the international benchmark for oil, were at $54.28 per barrel at 0149 GMT, up 11 cents from their last close. In the United States, West Texas Intermediate crude futures CLc1 were up 16 cents at $51.19 a barrel. Traders said that slowly tightening market conditions were driving price rises, with the Organization of the Petroleum Exporting Countries leading an effort to cut output. With most of OPEC's crude exported on tankers, tracking ship movements can be a good gauge of market conditions. Shipped oil supplies have reduced by as much as 17 percent since the beginning of the year. "We have seen a significant reduction in global oil supply since January, with oil on water going from 978 million barrels on Jan. 1 to 812 million barrels on April 3.
Oil prices fell on Tuesday as a rebound in Libyan oil production combined with an increase in U.S. drilling to signal the potential for increased crude supply.International Brent LCOc1 crude futures were trading down 22 cents, or 0.41 percent at $ 52.9 a barrel as of 0643 GMT from the previous session. U.S. benchmark West Texas Intermediate crude oil prices CLc1 were down 23 cents, or 0.46 percent, to $ 50.01 a barrel. U.S. oil may drop to $ 49.62 per barrel as it failed to break a resistance at $ 50.95. Brent oil may also retrace its steps back to $ 52.79 per barrel. oil prices fell as increased drilling in the United States and a rebound in Libyan output weighed on investor sentiment. Libya's crude output increased after state-owned National Oil Corp lifted a force majeure on loadings of Sharara oil from the Zawiya terminal in the west of the country, sources familiar with the matter told Reuters. U.S. drillers last week added rigs for an 11 th week in a row, data from energy services company Baker Hughes showed on Friday, extending a 10-month drilling recovery. OPEC producers are also raising output. Iran's exports of crude oil and gas condensate hit a record 3.05 million barrels per day by March 20, the end of the Iranian month of Esfand, according to a report by the Islamic Republic News Agency. oil market continues to look for signs of a tightening market as concerns linger that compliance with producer-led output cuts remains insufficient to erode a supply glut and the United States raises oil output. The Organization of the Petroleum Exporting Countries, and non-OPEC members including Russia, agreed late last year to cut output by almost 1.8 million barrels per day in the first half of 2017. The market's focus has now shifted to whether the major oil producers will extend the cuts. Oil prices edged lower in early Asian trading on Tuesday as a rebound in Libyan production put pressure on the market, along with a rise in U.S. drilling rig capacity that signals potential for increased supply. International Brent LCOc1 crude futures were trading down 3 cents at $ 53.09 a barrel at 0141 GMT from the previous session. U.S. benchmark West Texas Intermediate crude oil prices CLc1 was down 1 cents to $ 50.23 a barrel. "Crude oil prices fell as increased drilling in the United States and a rebound in Libyan output weighed on investor sentiment," Libya's crude output increased on Monday after state-owned National Oil Corp lifted force majeure on loadings of Sharara crude oil from the Zawiya terminal in the west of the country, sources familiar with the matter told Reuters. U.S. drillers added the most rigs in a quarter since the second quarter of 2011, data from energy services company Baker Hughes showed on Friday, extending a 10-month drilling recovery. to Libya's oil production recovery, Iran's exports of crude oil and gas condensate hit a record 3.05 million barrels per day by March 20, the end of the Iranian month of Esfand, according to a report by the Islamic Republic News Agency. oil market continues to await signs of a tightening market as concerns over OPEC production cut compliance, designed to erode a global crude oil glut, and high U.S. oil output linger. The Organization of the Petroleum Exporting Countries, and non-OPEC members including Russia, agreed late last year to cut output by almost 1.8 million barrels per day in the first half of 2017. The market's focus has now shifted whether the major oil producers will extend the cuts. China's loadings of West African crude oil are expected to slip in April from the record level reached the month before, according to a Reuters survey of shipping fixtures and oil traders on Monday. West Africa's loadings for China, the world's second-largest oil consumer, are on track to fall to 1.357 million barrels per day, down from their highest ever tracked by Reuters, 1.41 million bpd, in March. Overall loadings for Asia
fell to 2.07 million bpd as a result, roughly 2 percent lower than March. Spring refinery maintenance across Asia has cut consumption, while the decline has also followed months of strong imports. "The east has been buying huge amounts of crude ... They need to find a way to digest these barrels, either by processing them or by storing them," Asia, and China in particular, has been absorbing rising amounts of West African oil in recent months, much of it from Angola. The region's overall crude oil deliveries jumped 13.7 percent in March to 105.03 million tonnes. Storing oil has also become less attractive this year as contango, the gap between current prices and those in the future, has narrowed, cutting the potential profit of holding barrels of oil. Ahead of the coming week significant events likely to affect the markets.
Tuesday, April 11 The American Petroleum Institute, an industry group, is to publish its weekly report on U.S. oil supplies.
Wednesday, April 12 The U.S. Energy Information Administration is to release weekly data on oil and gasoline stockpiles.
Thursday, April 13 The U.S. government is to produce a weekly report on natural gas supplies in storage. Baker Hughes will release weekly data on the U.S. oil rig count. The report comes out one day earlier than usual due to Friday's Easter holiday.
BASE METAL’S OUTLOOK : BASE METAL GUIDE Trading Ideas : Copper
Copper trading range for the day is 366.6-384.2.
Copper fell after a U.S. air strike on Syria prompted investors to move out of riskier assets.
The discount of LME cash copper to the three-month contract closed at $31.25 a tonne, close to the
biggest in four years, indicating adequate supply.
China's foreign exchange reserves rose slightly in March, though by a bit less than the market expected.
Zinc
Zinc trading range for the day is 167.3-178.5.
Zinc dropped as supply tightness eased recently after restarts at mines driven by high zinc prices
The discount of LME cash zinc to the three-month contract shrank to $ 23.80 a tonne from $27.75
earlier in the week.
Votorantim saying Cajamarquilla in Peru would resume operations at 50% of capacity after a period of
suspension due to floods.
Nickel
Nickel trading range for the day is 634.3-670.3.
Nickel recovered on short covering as nickel ore supply remains tight, which is leading to a significant
output cut at nickel smelters
According to China Customs, China imported a total of 300,000 tonnes of nickel ore from Indonesia
during the first two months of 2017.
Indonesian nickel ore are estimated to keep flowing into China and the monthly supplying volumes
from the country to China will reach around 100,000 tonnes.
BASE METAL
✍ NICKEL
( 10 - April - 2017 )
Nickel prices were down by 0.53 per cent at Rs 659.10 per kg in futures trade today as speculators cut down their bets. At the Multi Commodity Exchange, nickel for delivery in May was trading down by Rs 3.50, or 0.53 per cent, at Rs 659.10 per kg, in a business turnover of 16 lots.The metal for delivery this month was also down by Rs 3.40, or 0.52 per cent, to trade at Rs 653.40 per kg in a turnover of 250 lots. Analysts said the fall in nickel prices was mostly in line with a weakening trend in metals at the domestic markets due to sluggish demand from alloy-makers.
✍ LEAD
( 10 - April - 2017 )
Lead eased by 0.34 per cent to Rs 144.65 per kg in futures trade today in tandem with a weakening trend in base metals at the domestic spot markets due to muted demand. At the Multi Commodity Exchange, lead for
delivery in April was trading 50 paise or 0.34 per cent down at Rs 144.65 per kg in a business turnover of 26 lots. The metal for delivery May also fell by a similar margin to trade at Rs 145.20 per kg with a business volume of just one lot. Marketmen said a weak trend in select base metals at the domestic spot markets due to slackened demand form consuming industries, mainly kept pressure on lead futures here.
✍ COPPER
( 10 - April - 2017 )
Copper futures traded 0.63 per cent lower at Rs 378.15 today as speculators cut down their positions at prevailing levels. In futures trading at the Multi Commodity Exchange, copper for delivery in far-month June fell Rs 2.40, or 0.63 per cent, at Rs 378.15 per kg, in a business turnover of eight lots. Similarly, the metal for delivery in April was down Rs 2.05, or 0.55 per cent, at Rs 374 per kg in 112 lots. Analysts attributed the fall in copper futures to profit-booking by speculators who trimmed their positions at existing levels amid subdued demand at the domestic spot markets.
✍ COPPER -
( 06-April-2017 )
Copper futures traded 0.48 per cent lower at Rs 384.30 per kg today as speculators offloaded their bets. Furthermore, subdued demand at domestic spot market pushed down metal prices. At the Multi Commodity Exchange, copper for delivery in April shed Rs 1.85, or 0.48 per cent, to Rs 384.30 per kg, in a business turnover of 328 lots. Also, metal for delivery in far-month June was trading down by Rs 1.85, or 0.47 per cent, at Rs 388.65 per kg in 6 lots. Analysts attributed the fall to offloading of positions by participants amidst muted demand at the domestic spot markets and weakness in select base metals at the London Metal Exchange. 03 - April-2017
✍ COPPER Copper prices fell by 0.35 per cent to Rs 379.40 per kg in futures market today as speculators cut down their positions amid subdued demand in the spot market. At the Multi Commodity Exchange, copper for delivery in April fell by Rs 1.35, or 0.35 per cent to Rs 379.40 per kg in business turnover of 782 lots. Similarly, the metal for delivery in far-month June contracts was trading lower by Rs 1.30, or 0.34 per cent to Rs 383.95 per kg in business turnover of 18 lots. Marketmen attributed the fall in copper prices at futures trade to a weak demand from consuming industries at the domestic markets.
✍ NICKEL -
( 06-April-2017 )
Nickel prices fell by 0.61 per cent to Rs 668.50 per kg in futures trade today as speculators cut down their bets amid sluggish demand and a weak trend overseas. Besides, profit-booking at existing level too put
pressure on the metal prices. At the Multi Commodity Exchange, nickel for delivery in current month was trading down by Rs 4.10, or 0.61 per cent, at Rs 668.50 per kg, in a business turnover of 419 lots. The metal for delivery in far-month May was also down by Rs 3.50, or 0.52 per cent, to trade at Rs 674.50 per kg, in a turnover of 2 lots. Analysts said the fall in nickel prices was mostly in line with a weak trend at the domestic spot markets due to muted demand and profit-booking by participants at prevailing levels. Moreoever, a weak trend in base metals at the London Metal Exchange too weighed on prices, they added. Globally, nickel dropped 0.8 per cent at the LME. ( 03 -April - 2017 )
� NICKEL Nickel prices edged up by 0.05 per cent to Rs 651.30 per kg in futures trade today as speculators built up fresh positions, driven by pick up in demand from alloy-makers in the spot market. At the Multi Commodity Exchange, nickel for delivery in April edged higher by 30 paise, or 0.05 per cent to Rs 651.30 per kg in business turnover of 1,428 lots. Likewise, the metal for delivery in May contracts was trading higher by 20 paise, or 0.03 per cent to Rs 657.70 per kg in 23 lots. Analysts said speculators created fresh positions due to pick up in demand from alloy-makers at the domestic spot markets, which mainly influenced nickel prices in futures trade.
� ZINC
( 06-April-2017 )
Zinc prices declined by 0.17 per cent to Rs 179.90 per kg in futures trade today as speculators cut down their bets, driven by sluggish demand from consuming industries in the spot market. At the Multi Commodity Exchange, zinc for delivery in current month fell by 30 paise, or 0.17 per cent, to Rs 179.90 per kg in business turnover of 156 lots. Similarly, the metal for delivery in May contracts shed 20 paise, or 0.11 per cent, to Rs 180.75 per kg in 2 lots. Analysts said offloading of positions by traders owing to slackened demand from consuming industries in the physical market and a weak trend in select base metals overseas, mainly led to decline in zinc prices at futures trade.
� NICKEL
( 03 - March - 2017 )
Nickel prices edged up by 0.05 per cent to Rs 651.30 per kg in futures trade today as speculators built up fresh positions, driven by pick up in demand from alloy-makers in the spot market. At the Multi Commodity Exchange, nickel for delivery in April edged higher by 30 paise, or 0.05 per cent to Rs 651.30 per kg in business turnover of 1,428 lots. Likewise, the metal for delivery in May contracts was trading higher by 20 paise, or 0.03 per cent to Rs 657.70 per kg in 23 lots. Analysts said speculators created fresh positions due to pick up in demand from alloy-makers at the domestic spot markets, which mainly influenced nickel prices in futures trade.
✍ COPPER
( 03 - March - 2017 )
Copper prices fell by 0.35 per cent to Rs 379.40 per kg in futures market today as speculators cut down their positions amid subdued demand in the spot market. At the Multi Commodity Exchange, copper for delivery in April fell by Rs 1.35, or 0.35 per cent to Rs 379.40 per kg in business turnover of 782 lots. Similarly, the metal for delivery in far-month June contracts was trading lower by Rs 1.30, or 0.34 per cent to Rs 383.95 per kg in business turnover of 18 lots. Marketmen attributed the fall in copper prices at futures trade to a weak demand from consuming industries at the domestic markets.
NCDEX - WEEKLY MARKET REVIEW FUNDAMENTAL UPDATES OF AGRI MARKET ✍ MENTHA OIL ( 10- April - 2017 ) Amid pick up in demand at domestic spot market against restricted supplies from producing regions, mentha oil prices traded higher by 0.49 per cent to Rs 999.40 per kg in futures market today as participants enlarged positions. At the Multi Commodity Exchange, mentha oil for delivery in April rose by Rs 4.90, or 0.49 per cent, to Rs 999.40 per kg, in a business turnover of 134 lots. Likewise, the oil for delivery in May went up by Rs 4.20, or 0.42 per cent, to Rs 1,002.90 per kg in eight lots. Analysts said widening of positions by traders due to pick up in demand from consuming industries in the spot markets against tight stocks on fall in arrivals from Chandausi led to the rise in mentha oil prices in futures trade.
✍ CRUDE PALM OIL - ( 10- April - 2017 ) Crude palm oil prices declined further by 0.82 per cent to Rs 517.40 per 10 kg in futures trading today as speculators engaged in reducing their positions, triggered by easing demand in the spot market. Besides, ample stocks position on increased supplies from producing belts too fuelled the downtrend. At the Multi Commodity Exchange, crude palm oil for delivery in April fell by Rs 4.30, or 0.82 per cent, to Rs 517.40 per 10 kg, in a business turnover of 96 lots. Likewise, the oil for delivery in May traded lower by Rs 3.60, or 0.72 per cent, to Rs 495.90 per 10 kg in 40 lots. Analysts said trimming of positions by traders due to subdued demand in the spot market against sufficient stocks position mainly attributed the slide in crude palm oil prices at futures trade. ✍ WHEAT
( 10- April - 2017 )
Wheat prices went up by 0.67 per cent to Rs 1,642 per quintal in futures trading today as speculators built up fresh positions. At the National Commodity and Derivatives Exchange, wheat for delivery in April moved up by Rs 11, or 0.67 per cent, to Rs 1,642 per quintal, with an open interest of 2,050 lots. Likewise, the wheat for delivery in May held steady at Rs 1,665 per quintal in 9,720 lots. Analysts attributed the rise in wheat
futures to speculative positions created by traders.
� REFINED SOYA OIL
( 10- April - 2017 )
Refined soya oil prices moved down by 0.45 per cent to Rs 620.05 per 10 kg in futures trade today as participants cut down their bets due to low demand in the spot market. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in May fell by Rs 2.80, or 0.45 per cent, to Rs 620.05 per 10 kg, with an open interest of 59,500 lots. Similarly, the oil for delivery in April shed Rs 1.50, or 0.24 per cent, to Rs 634.08 per 10 kg in 25,770 lots. Analysts said offloading of positions by traders on the back of easing demand in the spot market against adequate stocks position mainly influenced refined soya oil prices at futures trade.
� CARDAMOM
( 10- April - 2017 )
Cardamom prices drifted lower by 1.89 per cent to Rs 1,253 per kg in futures trade today as speculators trimmed their positions, taking negative cues from spot market on tepid demand. At the Multi Commodity Exchange, cardamom for delivery in May fell by Rs 24.10, or 1.89 per cent, to Rs 1,253 per kg, in a business turnover of 41 lots. Market analysts said offloading of positions by participants amid sluggish demand in the spot market against adequate stocks position mainly led to the fall in cardamom prices at futures trade. 06- April - 2017 Cardamom prices drifted by Rs 8.30 to Rs 1,416 per kg in futures market today as traders trimmed their holdings amid sluggish demand at the spot market. Besides, adequate stocks position following increased arrivals from producing regions too fueled the downtrend. At the Multi Commodity Exchange, cardamom for this month delivery declined by Rs 8.30, or 0.58 per cent, to Rs 1,416 per kg, in a business turnover of just two lots. The spice for delivery in May month was trading down by Rs 3.30, or 0.25 per cent, to Rs 1,311 per kg, with a trading volume of 0.25 lots. Traders said offloading of positions by participants amid sluggish demand in the spot market against adequate stocks position on higher supplies from producing belts, mainly led to the decline in cardamom prices at futures trade. 06- April - 2017 Crude palm oil prices were up by 0.55 per cent to Rs 507.10 per 10 kg in futures trade today as speculators enlarged positions driven by a firm demand at the spot market. Moreover, a firming trend overseas supported the uptrend. At the Multi Commodity Exchange, crude palm oil for delivery in May rose by Rs 2.80, or 0.55 per cent, to Rs 507.10 per 10 kg in business turnover of 196 lots.. Similarly, the oil for delivery this month contracts went up by Rs 2.10, or 0.40 per cent, to Rs 525.90 per 10 kg in 211 lots. Analysts said widening of positions by participants driven by pick up in demand in the spot market against tight stocks position on
restricted supplies from producing regions mainly kept crude palm oil prices higher at futures trade.
06- April- 2017 � CARDAMOM Cardamom prices were trading up by 0.63 per cent at Rs 1,312 per kg in futures trade today as speculators enlarged their positions amid an upsurge in physical demand in the domestic spot market. Further, tight supplies from major producing regions also supported the upside in cardamom prices.. At the Multi Commodity Exchange, cardamom for delivery in May rose by Rs 8.20, or 0.63 per cent, to Rs 1,312 per kg, with a trading volume of 14 lots. Similarly, spice for delivery this month was up by Rs 1.60, or 0.11 per cent, to Rs 1,402 per kg in 20 lots. Traders said widening of positions by participants, driven by surge in demand at the spot market against restricted supplies from producing regions, mainly kept cardamom prices higher at futures trade. 03- April- 2017 � CARDAMOM Cardamom prices were trading up by 0.63 per cent at Rs 1,312 per kg in futures trade today as speculators enlarged their positions amid an upsurge in physical demand in the domestic spot market. Further, tight supplies from major producing regions also supported the upside in cardamom prices.. At the Multi Commodity Exchange, cardamom for delivery in May rose by Rs 8.20, or 0.63 per cent, to Rs 1,312 per kg, with a trading volume of 14 lots. Similarly, spice for delivery this month was up by Rs 1.60, or 0.11 per cent, to Rs 1,402 per kg in 20 lots. Traders said widening of positions by participants, driven by surge in demand at the spot market against restricted supplies from producing regions, mainly kept cardamom prices higher at futures trade. 03- April- 2017 � REFINED SOYA OIL 1. Amid pick up in domestic demand against restricted supplies from producing regions, refined soya oil prices were up by 0.39 per cent to Rs 625.55 per 10 kg in futures trade today as speculators enlarged positions. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in May rose by Rs 2.45, or 0.39 per cent, to Rs 625.55 per 10 kg, with an open interest of 53,800 lots.. Likewise, the oil for delivery in April moved up by Rs 2.40, or 0.38 per cent, to Rs 637.50 per 10 kg in 34,830 lots. Analysts said widening of positions by traders following pick up in demand in the spot market against tight stocks position on fall in supplies from producing belts, mainly attributed the rise in refined soya oil prices at futures trade..
03- April- 2017 � MENTHA OIL Mentha oil prices were up 0.68 per cent to Rs 1,000.40 per kg in futures market today as participants raised their holdings on the back of pick-up in spot demand from consuming industries. Besides, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also provided support to mentha oil prices.. At the Multi Commodity Exchange, mentha oil for delivery May month rose Rs 6.80, or 0.68 per cent, to Rs 1,000.40 per kg, clocking a business volume of 14 lots. The oil for delivery this month traded higher by Rs 6.10, or 0.61 per cent, to Rs 999 per kg, with a trading volume of 109 lots.. Analysts said raising of bets by speculators, driven by rising demand from consuming industries in the spot markets against restricted supplies from Chandausi led to the rise in mentha oil prices in futures trade. 03- April- 2017 � CRUDE PALM OIL Crude palm oil prices were up by 0.31 per cent to Rs 514.30 per 10 kg in futures trade today as traders created fresh positions, supported by pick-up in demand at the spot market. Besides, a firming trend in overseas markets too fuelled the uptrend. At the Multi Commodity Exchange, crude palm oil for delivery this month rose by Rs 1.60 or 0.31 per cent, to Rs 514.30 per 10 kg in a business turnover of 215 lots. Similarly, the oil for delivery May month went up by Rs 1.20 or 0.24 per cent to Rs 495 per 10 kg in 47 lots. Analysts said widening of positions by participants driven by pick-up in demand in the spot market against tight stocks position on restricted supplies from producing regions mainly kept crude palm oil prices higher at futures trade. � MENTHA OIL
( 03 - April - 2017)
Mentha oil prices were up 0.68 per cent to Rs 1,000.40 per kg in futures market today as participants raised their holdings on the back of pick-up in spot demand from consuming industries. Besides, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also provided support to mentha oil prices. At the Multi Commodity Exchange, mentha oil for delivery May month rose Rs 6.80, or 0.68 per cent, to Rs 1,000.40 per kg, clocking a business volume of 14 lots. The oil for delivery this month traded higher by Rs 6.10, or 0.61 per cent, to Rs 999 per kg, with a trading volume of 109 lots. Analysts said raising of bets by speculators, driven by rising demand from consuming industries in the spot markets against restricted supplies from Chandausi led to the rise in mentha oil prices in futures trade.
� CRUDE PALM OIL
( 03 - April - 2017)
Crude palm oil prices were up by 0.31 per cent to Rs 514.30 per 10 kg in futures trade today as traders created fresh positions, supported by pick-up in demand at the spot market. Besides, a firming trend in overseas markets too fuelled the uptrend. At the Multi Commodity Exchange, crude palm oil for delivery this month rose by Rs 1.60 or 0.31 per cent, to Rs 514.30 per 10 kg in a business turnover of 215 lots. Similarly, the oil for delivery May month went up by Rs 1.20 or 0.24 per cent to Rs 495 per 10 kg in 47 lots. Analysts said widening of positions by participants driven by pick-up in demand in the spot market against tight stocks position on restricted supplies from producing regions mainly kept crude palm oil prices higher at futures trade.
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