Browse Category: commodity tips

Gold Hits Two-Week low on U.S. Rate hike Prospects

Gold fell on Monday to its lowest in nearly two weeks as the dollar strengthened after comments from U.S. Federal Reserve officials increased bets on a U.S. rate hike this year.
Spot gold had fallen 0.6 percent to $1,333.40 an ounce by 0404 GMT, after touching a low of $1,331.35, a level not seen since Aug. 9.
U.S. gold dropped 0.6 percent to $1,337.90 an ounce.
The Fed is close to hitting its targets for full employment and 2 percent inflation, the Fed’s No. 2 policymaker Stanley Fischer said on Sunday.
“The U.S. economic indicators are looking healthy and the probability of a U.S. rate hike will go up further in the coming months, rallying the dollar and putting pressure on gold,” said OCBC Bank analyst Barnabas Gan.
There has been some shifting of funds from gold as oil prices rallied, but the movement will not last long, Gan added.
The dollar index, which tracks the greenback against a basket of six major rivals, was up 0.4 percent at 94.894.
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Indian ADRs: Dr Reddy’s Lab, Tata Motors, Wipro Down 1%

Indian ADRs ended lower on Friday. In the banking space, HDFC Bank was down 0.53 percent at USD 70.82 and ICICI Bank was unchanged at USD 7.49.
In the IT space, Infosys rose 0.13 percent at USD 15.90 and Wipro shed 1.01 percent at USD 10.81.
In the other sectors, Tata Motors slipped 1.19 percent at USD 38.27 and Dr Reddy’s Laboratories fell 1.18 percent at USD 45.08.
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Gold Holds Steady On Weaker Dollar

Gold held steady early on Thursday after rising slightly in the previous session, with lower expectations for a U.S. rate hike weighing on the dollar.

 

 FUNDAMENTALS

 * Spot gold was largely unchanged at $1,345.80 an ounce at 0048 GMT. It ended Wednesday up 0.4 %.

* U.S. gold  was also steady at $1,351.60 an ounce.

* The U.S. dollar struggled to gain traction, amid doubts over whether the Federal Reserve will raise interest rates this year. The dollar index, which measures the greenback’s value against a basket of major currencies, last traded at 95.554 , holding within sight of a near one-week low of 95.442 set on Wednesday.

* Gold consumption in China and India, the world’s top two buyers, is set to drop 15 to 20 percent in 2016 after lower investment demand and jewellery sales, said an official at a leading importing bank.

* Alternative investments such as a Ferrari 335 S Scaglietti, a rare blue diamond or a case of Romanee-Conti Grand Cru wine from Burgundy are going mainstream as investors grapple with ultra-low interest rates and volatile stocks.

* Gold miner Centamin Plc raised its production guidance for 2016, aided by rising output from its Sukari mine in Egypt, and said its second-quarter core profit more than doubled.

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MORNING TREND UPDATE BY RIPPLES

GOLD

SUPPORT: 31000/31150

RESISTANCE: 31400/31550

TREND: SIDEWAYS

 

SILVER

SUPPORT: 45700/46000

RESISTANCE: 46700/47000

TREND: SIDEWAYS

 

CRUDE OIL

SUPPORT: 2770/2820

RESISTANCE: 2900/2950

TREND: DOWN

 

COPPER

SUPPORT: 312/315

RESISTANCE: 321/324

TREND: SIDEWAYS

5 Golden Way For Sucessful Investment in Market

The bait of huge cash has constantly tossed financial specialists into the lap of stock and commodity market. In any case, profit in values is difficult. It requires many of persistence and order, as well as a lot of exploration and a sound comprehension of the business sector, among others.

Albeit no beyond any doubt shot equation has yet been found for accomplishment in market, here are some brilliant tenets which, if took after wisely, may build your odds of getting a decent return:

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126373-004-A9196247Avert the group attitude-:
The run of the mill purchaser’s choice is normally intensely affected by the activities of his colleagues, neighbors or relatives. In this way, if everyone around is putting resources into a specific stock, the propensity for potential financial specialists is to do likewise. Be that as it may, this methodology will undoubtedly blow back over the long haul.

making-expectations-meet-realityNever try to moment of Market-:
One thing that even Warren Buffett doesn’t do is to attempt to time money markets, despite the fact that he has an exceptionally solid perspective on the value levels suitable to individual shares. A dominant part of Investment, in any case, does the polar opposite, something that monetary organizers have dependably been cautioning them to stay away from, and therefore lose their well deserved cash simultaneously.

sip1Follow trained investment viewpoint-:
Generally it has been seen that even incredible bull runs have indicated episodes of frenzy minutes. The unpredictability saw in the business sectors has unavoidably profited regardless of the immense bull runs.

Be that as it may, the speculators who put in cash deliberately, in the right shares and clutched their ventures quietly have been seen creating remarkable returns. Thus, it is reasonable to have tolerance and take after a taught speculation approach other than remembering a long haul wide picture.

making-expectations-meet-realityHave reasonable desires-:
There’s nothing amiss with seeking after the “best” from your speculations, yet you could set out toward inconvenience if your monetary objectives depend on impossible presumptions. For example, bunches of stocks have created more than 50 for each penny returns amid the colossal bull keep running of late years.

Observaticalculate-investment-performance-expectationson Thoroughly-:
We are living in a worldwide town. Any imperative occasion happening in any part of the world affects our money related markets. Henceforth we have to continually screen our portfolio and continue influencing the fancied changes in it.

COMMODITY MORNING TREND NEWS


GOLD

SUPPORT: 29900/31050
RESISTANCE: 31300/31500
TREND: SIDEWAYS

SILVER
SUPPORT: 45600/45900
RESISTANCE: 46500/46800
TREND: SIDEWAYS

CRUDE OIL
SUPPORT: 2800/2850
RESISTANCE: 2940/2990
TREND: SIDEWAYS

COPPER
SUPPORT: 314/317
RESISTANCE: 323/325
TREND: SIDEWAYS

Gold Holds Steady After Recovering From One-Week Low

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Gold held steady early on Tuesday after recovering from one-week lows hit the day before, with the dollar edging down and investors using the correction in prices to hunt for bargains.

FUNDAMENTALS

* Spot gold was mostly unchanged at $1,335.82 an ounce by 0104 GMT. Bullion touched its lowest since July 29 at $1,329.55 on Monday.

* U.S. gold was nearly flat at $1,341.40 an ounce.

* The dollar index, which gauges the greenback against a basket of six major currencies, slipped as much as 0.1 percent to 96.344.

* The U.S. economy is at increasing risk of becoming trapped in a prolonged phase of slow growth that points to the need for lower interest rates than previously expected, Federal Reserve policymaker Jerome Powell was quoted as saying.

* Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.67 percent to 973.81 tonnes on Monday.

* The London Metal Exchange (LME) said on Tuesday it is planning to launch spot and futures contracts for gold and silver in the first half of 2017, adding to its list of products which includes copper and aluminium.

Oil Prices Up In Asian Trade

Oil edged higher to near USD 42 a barrel in Asia today but analysts said the increase was unlikely to last as the commodity remains under pressure by a supply glut and a strong dollar.

Prices have been fluctuating since entering a bear market last week, falling more than 20 percent and closing below USD 40 a barrel for the first time since April.

U.S. West Texas Intermediate (WTI) crude futures were at $41.90 per barrel at 0411 GMT, up 10 cents from their last close. Brent futures were trading at $44.34 per barrel, up 7 cents.

Brent crude was down 43 cents, or 1 %, at $43.86 per barrel. It earlier fell to $43.51.

“The dollar/oil correlation may be back today to pressure crude but the reality is we just have too much oil supply out there to continue supporting prices at these levels,” said Phil Davis, trader at PSW Investments in San Diego, California.

Government To Prepare Roadmap To Resolve Steel Sector Issues Minister

GOV

The Indian Government has said that a roadmap will be prepared for the steel sector facing issues on multiple fronts, including repaying bank loans. The Steel Minister also said that over USD100-billion domestic steel sector needs to enhance its efficiency in the long run to be globally competitive.

Commenting on the issue, Union Minister Chaudhary Birendra Singh told the media, “What I have told the industry that now we will have a roadmap where you will have your responsibility to see whether you are improving as far as efficiency is concerned, whether you are improving in giving back outstanding of bank loans, whether you are improving to make your industry competitive in the world market.

These things are also to be looked at.” So what I have told them that on one way we talk of your production, the other way we must find out (the way) that you should get out of this rut within six months,” he added.

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Gold Hits One-Week Low After US Jobs Data Beats Forecasts

Gold fell as much as 1.2 % on Friday, as the dollar rose after U.S. data showed employment increased more than expected in July, raising the probability of an interest rate hike from the Federal Reserve this year.

Nonfarm payrolls increased by 255,000 jobs last month as hiring rose broadly after an upwardly revised 292,000 surge in June, the Labor Department said on Friday.

Spot gold, steadier initially, fell to one-week low of $1,344.85 an ounce and was down 1.1 % at $1,345.51 by 1326 GMT.
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SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.37 % to 973.21 tonnes on Thursday.

Among other precious metals, spot palladium was down 0.6 percent at $699.40 an ounce. The metal, used in autocatalysts and as an investment, was heading for its first weekly loss after six weeks of gains.

Physical gold sales remained sluggish in Asia this week, but appetite is expected to pick up with festive seasons approaching in top markets India and China.

Economists polled by Reuters had forecast payrolls increasing 180,000 in July and the unemployment rate dipping one-tenth of a percentage point to 4.8%.