Browse Category: Gold Market Tips

Gold prices fall for a third day as dollar bounces off December 2014-lows

Gold prices fell for a third straight session on Tuesday as the dollar rebounded from over three-year lows hit last week, while investors waited for the minutes of the latest Federal Reserve meeting for clues on the outlook for U.S. interest rates.

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Gold prices fall for a third day as dollar bounces off December 2014-lows

Spot gold was down 0.4 percent at $1,341.20 an ounce at 0340 GMT. Earlier, it fell to as low as $1,340.16, the lowest since Feb. 14.

U.S. gold futures were down 1 percent at $1,342.90 per ounce, posting its biggest one-day fall in nearly two weeks.

The dollar index, which measures the greenback against a basket of six currencies, was up 0.3 percent at 89.397. It fell to 88.253 last week, the lowest since December 2014.

The U.S. currency showed signs of a bounce-back as some investors bought in after last week’s declines, though the gains on Tuesday were capped by growing concerns that a rising fiscal deficit in the United States could disrupt the economy.

The minutes of the January Fed meeting will provide key guidance for the dollar and gold, said Helen Lau, an analyst at Argonaut Securities.

“The key driver will be interest rate hikes … How fast and how many times they can raise,” Lau added.

The U.S. Fed will release the minutes of its Jan. 30 to 31 policy meeting on Wednesday. The meeting was held during last month’s drop in equity markets and investors are interested in the Fed’s response to the market gyrations as well as the rate outlook.

Higher U.S. interest rates would limit demand for non-interest bearing gold.

Meanwhile, Asian stocks slipped on Tuesday, their recent recovery stalling after European equities broke a winning streak.

Analysts said despite the rate hike outlook, investors will still be wary of rising inflation in the United States.

Gold prices rose 2.4 percent last week in its best weekly gain in more than five months, as investors bought gold on fears of rising inflation in the United States.

Spot gold is expected to test a support at $1,338 per ounce, with a good chance of breaking below this level and falling more to the next support at $1,326, according to Reuters technical analyst Wang Tao.

Among other precious metals, silver was down 0.6 percent at $16.57 an ounce.

Palladium was 0.4 percent lower at $1,028.65, after rising to the highest since Feb. 2 at $1,050 in the previous session.

Platinum was down 0.1 percent at $1,001.24, after rising to a three-week high on Monday at $1,013.60.

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Top 5 stocks to buy in a volatile market which can give up to 15% return in short term

The markets witnessed a sustained selling pressure throughout the trading day on Monday after opening but managed to hold above 10,300 levels. The recovery seen in the last hour of trade saw the Nifty regain half the losses and closed at 10,378, down by 0.7 percent for the day.

Commodity Market Tips

Top 5 stocks to buy in a volatile market which can give up to 15% return on short-term

The index has formed a Bearish Belt hold type of candlestick pattern as opening and intraday were the same. After the last seven days of sideways price action, the index is showing signs of breakdown and resumption of downtrend with new closing low for the decline starting from its all-time high.

 The index closed below the rising support trendline originating from September 2017 low of 9,688 level. Also, the Nifty closed below 100-day moving which has been acting as support for the index.

The index is seeing supply pressure above 10,600 levels and is unable to sustain it. If Nifty sustains below 10,400 levels, the index is likely to see a continuation of the downtrend.

The next level for the index is seen at 10,170, and then at 10070 where 200-day moving average and November-December lows are seen. In Nifty options, strike price 10,400 calls witnessed a significant amount of open interest addition suggesting call writing activity.

Thus, the index immediate resistance is placed at 10,400-10,450 levels. For strength, the index should cross and sustain above 10650 levels on the tradable basis.

Here is a list of top 5 stocks which could give up to 15% return:

V-Guard Industries: BUY | CMP: Rs 234 | Stop loss: Rs 222| Target: Rs 270 | Return 15%

The stock is in long-term uptrend forming the higher top and higher bottom formation on its weekly chart. Last month, the stock hit an all-time high of Rs 250 on good volumes and price, and then corrected down to Rs 202 levels on below-average volumes; indicating market participants are holding on to the stock despite the decline.

The correction has taken support at 61.8 percent Fibonacci retracement of the rally from Rs 177 to Rs 250 levels. Also, the low coincides with a 200-day moving average indicates a strong support level and the stock has seen a strong bounce back from the previous level.

In the last four sessions stock has witnessed above average volumes and has moved higher – indicating buying participation in the stock, even in the current market scenario. Thus, the stock can be bought at current levels and on a dip to Rs 230 with a stop loss below Rs 222 for a target of Rs 270 levels.

United Breweries Limited: BUY | CMP: Rs 1,052| Stop loss: Rs 1,000 | Target: Rs 1,200 | Return 14%

The stock had touched a high of Rs 1,226 in April 2015 and then declined down to Rs 700 levels where it witnessed consolidation at lower levels and rallied back to Rs 1,200 levels.

The stock has been trading below Rs 1,200 levels and consolidating its gains for the last three months between Rs 1,200 and Rs 1,000 levels. In the process, the stock has formed a bullish cup and handle pattern on long-term charts.

Price has taken support at Rs 1,000 level i.e. lower end of the range and seen a bounce back. It has formed bullish engulfing candlestick pattern on the daily chart and closed above the previous day’s range.

The relative strength index (RSI) and Stochastic have given positive crossover with their averages suggesting reversal of short-term trend. Thus, the stock can be bought at current levels and on a dip to Rs 1,300 with a stop loss below Rs 1,000 for a target of Rs 1,200 levels.

InterGlobe Aviation Limited: BUY | CMP: Rs 1,282 | Stop loss: Rs 1,220 | Target: Rs 1,450 | Return 13%

The stock touched high of Rs 1,347 in August 2017 and then corrected down to Rs 1,022 levels. Since then the stock has been forming a higher low and closed above 78.2 percent after retracement of the fall.

Price has been consistently taking support at 200-day moving average and is moving higher – indicating that the long-term trend in the stock is up. For the last few months, the stock has been largely consolidating and now is closed at a six month high.

In the last seven sessions, the stock has consistently seen above average volumes with positive price action that indicates to a buying participation at even higher levels. ADX line, an indicator of trend strength has moved above neutral level reaffirming the strength in an uptrend.

Thus, the stock can be bought at current levels and on a dip to Rs 1,260 with a stop loss below Rs 1,220 for a target of Rs 1,450 levels.

Repco Home Finance Limited: SELL | CMP: Rs 537| Stop loss: Rs 560 | Target: Rs 480 | Return 11%

The stock has been in a decline mode for the last eight months. Last month’s pullback in the stock was unable to sustain above its 200-day moving average and price has continued to hit 52-week low confirming the downtrend.,

Last week, the stock witnessed a decline in high volume with follow-through price action yesterday. It has broken its pivotal low of Rs 549 and closed below. Thus, the stock can be sold at current levels and rising to Rs 545 with a stop loss of Rs 560 for a target of Rs 480 levels.

Power Finance Corporation: SELL | CMP: Rs 107 | Stop loss: Rs 112 | Target Rs 95 | Return 11%

The stock has seen a downtrend for last nine months and continues to hit new 52-week low. Recently, the stock price fell below 61.8 percent retracement level of the major up move from Rs 78 to Rs 169 levels which comes at Rs 113 levels.

Since then the price has been trading at lower levels for the last couple of weeks. Thus, the stock can be sold at the current level and on rising to Rs 109 with a stop loss of Rs 111 for a target of Rs 95.

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Free Stock Tips-Nifty likely to open gap down by 11 points

Nifty Future is opening gap down by 11 points against yesterday’s close of 10375 as indicated by SGX Nifty which is currently trading at 10394,

Market Outlook:

The Indian Benchmark Index Nifty continues selling for the 2nd straight day amid loan fraud cases in PSU banks. The index opened higher but could not sustain at highs and consolidated in the negative zone. However, the markets gave a sharp recovery in the final hour of the trade.

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Free Stock Tips-Nifty likely to open gap down by 11 points

The markets are trading highly volatile due to loan fraud cases in the PSU banks and FNO expiry due on Thursday. The index opened at 10489 and closed at 10378 after making a low of 10303. Nifty slumped by 74 points or 0.71% from its previous close.

FII & PRO in combined has sold 111737 contracts in Index options in last 10 days. In the current expiry, they have a combined sell position of 498379 contracts. The next important support level of Nifty is 10276, which is its Week 1 low.

The Small Cap Index has fallen by 119 points or 1.42% from its previous close. The Index made a high of8375 and closed at 8238 after making a low of 8145. The next Weekly support of Small Cap is 7777.

Nifty Future is opening gap down by 11 points against yesterday’s close of 10375 as indicated by SGX Nifty which is currently trading at 10394.

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Disclaimer:-The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

Commodity Market Tips-Gold prices inch up on weaker dollar

Gold prices edged up on Monday on a softer U.S. dollar and as investors bought the yellow metal as a hedge against inflation.

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Commodity Market Tips-Gold prices inch up on weaker dollar

 

FUNDAMENTALS

* Spot gold rose 0.2 percent to $1,350.51 an ounce at 0120 GMT. It hit a three-week high oft $1,361.76 on Friday.

* The metal rose 2.4 percent last week, its best weekly gain since the week ended Sept. 1.

* U.S. gold futures slipped 0.2 percent to $1,353.10 per ounce.

* The dollar index, which measures the greenback against a basket of currencies, fell 0.1 percent to 88.999.

* The U.S. currency has been weighed down by a variety of factors this year, including concerns that Washington might pursue a weak dollar strategy and the perceived erosion of its yield advantage as other countries start to scale back easy monetary policy.,/p>

* Hedge funds and money managers cut their net long positions in COMEX gold and copper contracts in the week to Feb. 13, U.S. Commodity Futures Trading Commission (CFTC) data showed on Friday.

* Asian shares ticked up on Monday, joining a global recovery for equity markets as sentiment improved gradually from a recent shakeout that stemmed from fears of creeping inflation and higher borrowing costs.

* On Wall Street, the S&P 500 rose marginally on Friday to mark its biggest weekly increase in five years, although earlier gains evaporated after a 37-page indictment filed by U.S. Special Counsel Robert Mueller charged 13 Russians and three Russian companies for meddling in the 2016 U.S. presidential election.

* Trading is expected to be slower than usual due to market holidays in the United States as well as Hong Kong and China.

* SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings rose 0.39 percent to 824.54 tonnes on Friday from 821.30 tonnes on Thursday.

* India’s federal police detained two employees of Punjab National Bank, the state-run lender that says it has been the victim of a $1.77 billion fraud, in the first arrests in a fast-widening probe into the country’s biggest-ever bank scam.

* Physical gold was sold at a discount in India last week for the first time in three weeks as demand for the metal slumped due to a jump in local rates, while the Lunar New Year holiday capped buying at the end of the week elsewhere in Asia.

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Sensex slips 200 pts; all sectoral indices in the red, PSU Bank dips 2%

Natco Pharma, Jet Airways, SpiceJet, InterGlobe Aviation, GVK Power, Jai Corp and KPR Mills gained 0.5-4 percent.

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Sensex slips 200 pts; all sectoral indices in the red, PSU Bank dips 2%

Natco Pharma shares rallied as much as 6.4 percent after the Mekaguda facility received zero observations from the US health regulator.

“….announce the successful completion of regulatory inspection from the United States Food and Drug Administration (USFDA) for its active pharmaceutical ingredient (API) facility in Mekaguda Village, Hyderabad,” the pharma company said in its filing.

The inspection by USFDA was conducted during the period February 12-16, 2018.

“The regulatory audit resulted in zero observations (no form 483 issued),” Natco said.

Crude Oil Update: Oil prices extended gains to hit their highest level in nearly two weeks, buoyed as Asian shares joined a global recovery in equity markets and by worries over tensions in the Middle East.

Prime Minister Benjamin Netanyahu said on Sunday that Israel could act against Iran itself, not just its allies in the Middle East, after border incidents in Syria brought the Middle East foes closer to direct confrontation.

US West Texas Intermediate crude for March delivery was up 86 cents, or 1.39 percent, at USD 62.54 a barrel, after earlier touching its highest since February 7.

London Brent crude was up 58 cents, or 0.89 percent, at USD 65.42, after rising more than 3 percent last week.

Market Update: Benchmark indices extended losses, with all sectoral indices trading in the red.

The 30-share BSE Sensex fell 203.24 points to 33,807.52 and the 50-share NSE Nifty declined 66.80 points to 10,385.50.

About three shares declined for every share rising on the BSE.

PSU Bank index was the biggest loser, falling 2 percent.

PNB fraud case: India’s state-run UCO Bank said it has USD 411.82 million in exposure to fraudulent transactions carried out at Punjab National Bank (PNB).

PNB, India’s second-largest state-run lender, said last Wednesday that it had detected fraudulent transactions worth USD 1.77 billion at a single Mumbai branch that had benefited “a few select account holders”, and that it had reported the matter to law enforcement agencies.

UCO Bank, in a filing to the Bombay Stock Exchange late on Saturday, said its Hong Kong branch granted loans against letters of credit issued by PNB and was “fully confident” of receiving payment from PNB.

The alleged fraud at PNB benefited billionaire jeweler, Nirav Modi and jewelry retailer Gitanjali.

9:48 am Order Win: The water & effluent treatment business of L&T Construction has secured EPC orders worth Rs 1,680 crore from Pune Municipal Corporation for ‘study, survey, investigation, assessment, design validation and revamping of the entire water supply system for Pune City.

“We are delighted to have bagged this very prestigious order which has the potential to be a game-changer in the realm of water infrastructure development,” said S Rajavel, Senior Vice President & Head – Water & Smart World Communication, L&T Construction.

The scope of the project includes supply, laying, testing and commissioning of water transmission pipelines, optical fiber cable ducts, construction of sumps & house service connections along with water audit, Non-Revenue Water Reduction, SCADA, bill reading & generation and other associated electromechanical & instrumentation works.

Buyback: KPR Mill scrip price gained nearly 6 percent ahead of a board meeting to consider share buyback this week.

“A meeting of the board of directors is scheduled to be held on February 22 to consider the proposal for buy-back of the fully paid-up equity shares,” the textile company said in its filing.

Buzzing: Shares of Bhushan Steel hit 20 percent upper circuit on Monday as investors cheered developments surrounding its takeover bid.

Tata Steel emerged as the highest bidder for Bhushan Steel with a surprise bid of Rs 35,000 crore. JSW Steel, which was the favorite until the end of the race, was second placed with a bid of Rs 29,700 crore. Tata Steel’s stock fell around 5 percent intraday.

A senior bank executive aware of the development confirmed the allotment to Tata Steel and the bid amount.

9:21 am Navi Mumbai Airport: The City Industrial Development Corporation (Cidco), the nodal agency of Maharashtra government implementing the Navi Mumbai International Airport has set a stiff deadline of December 2019 for developer GVK Power & Infrastructure (GVK) to operationalize the first phase of the project.

As part of the first phase – Cidco expects the developer GVK Power & Infrastructure (GVK) to make one runway and a terminal building operational with a capacity to handle 10 million passengers by end of next year.

“It’s achievable,” said Bhushan Gagrani, Vice Chairman and Managing Director of Cidco referring to the first phase deadline.

Gagrani said the company will be handing over the land to GVK in 6-8 months. “We took possession of 98 percent of the land,” said Gagrani.

9:15 am Market Check: The market started off the week on a negative note, with the Nifty and Nifty Bank trading well below its Friday’s low due to further correction in PSU banks.

The 30-share BSE Sensex was down 117.30 points at 33,893.46 and the 50-share NSE Nifty fell 45.10 points to 10,407.20.

PSU Bank index fell over 1 percent. UCO Bank, Union Bank of India, Allahabad Bank, PNB and City Union Bank declined 3-10 percent on PNB fraud case.

Natco Pharma, Jet Airways, SpiceJet, InterGlobe Aviation, GVK Power, Jai Corp and KPR Mills gained 0.5-4 percent.,/p>

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Buy, Sell, Hold: 4 stocks are on analysts’ radar on February 19, 2018

Adani Ports, Titan, among others are being tracked by investors on Monday.

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Buy, Sell, Hold: 4 stocks are on analysts’ radar on February 19, 2018

Adani Ports

Brokerage: CLSA | Rating: Buy | Target: Rs 505

CLSA said that fresh capex will not hurt our argument of the company tripling its dividend. Further, investments shall be self-financing if the company can seal JV deals in time.

Varun Beverages

Brokerage: CLSA | Rating: Buy | Target: Rs 885

CLSA said that off-season makes Q4 less relevant for the firm. It also said that Q4 contributes <5% of its full-year EBITDA. It also highlighted that the firm has been able to secure the rights to more territories. New Territories & products give the firm an opportunity to expand volume & market share.

HUL

Brokerage: Deutsche Bank | Rating: Buy | Target: Rs 1,700

The global investment bank said that the firm expects Q3 volume growth of 11% to sustain. Further, it said that the company plans judicious price increase to counter inflationary pressure.

Titan

Brokerage: Deutsche Bank | Rating: Buy | Target: Rs 970

The bank said that the firm is a big beneficiary of formalization in jewelry sector. Further, it said that it has a strategy to launch new collections every quarter.

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Free Stock Case Tips- Nifty likely to open gap up by 59 points

Nifty Future is opening gap up by 59 points against Friday’s close 10442 as indicated by SGX Nifty which is currently trading at 10501, says Dynamic Levels.

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Free Stock Case Tips- Nifty likely to open gap up by 59 points

The Indian Benchmark Index Nifty could not sustain above 10600 levels and has given a sharp fall of 179 points last day. The Index made a high of 10613 and closed at 10452 after making a low of 10434.

FII & PRO in combined has sold 582933 contracts in Index options in last 10 days. In the current expiry, they have a combined sell position of 457618 contracts. The next important support level of Nifty is 10276, which is its week-1 low.

 The Small Cap Index has fallen 397 points in last 3 trading sessions. The Index made a high of 8704 on February 14 and closed at 8357 last day after making a low of 8307. The next Weekly support of Small Cap is 7777.

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Nifty Future is opening gap up by 59 points against Friday’s close 10442 as indicated by SGX Nifty which is currently trading at 10501.

Disclaimer:-The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

 

commodity tips-Gold prices set for biggest weekly gain in nearly two years

Gold prices held firm on Friday to remain on track for their biggest weekly percentage gain in nearly two years, buoyed by a weaker U.S. dollar and as investors looked to hedge against inflation.

commodity tips

FUNDAMENTALS

* Spot gold was largely unchanged at $1,353.51 an ounce at 0125 GMT, after touching a three-week high of $1,357.08 the session before.

* The metal is up 2.7 percent so far this week, set for its strongest weekly performance since the week of April 29, 2016.

* U.S. gold futures climbed 0.1 percent to $1,356.2 per ounce.

* The dollar languished near a three-year low against a basket of currencies on Friday, heading for its biggest weekly loss in nine months, as a slew of bearish factors offset support for the U.S. currency from rising Treasury yields amid firming inflation.

* U.S. producer prices accelerated in January, boosted by strong gains in the cost of gasoline and health care, offering more evidence that inflation pressures are building up. The Labor Department said its producer price index for final demand rose 0.4 percent last month after being unchanged in December.

* In the second report on Thursday, the Labor Department said initial claims for state unemployment benefits increased by 7,000 to a seasonally adjusted 230,000 for the week ended Feb. 10.

* U.S. President Donald Trump’s tax reform will help boost U.S. growth in the short term but may have negative consequences such as on the deficit and debt in the medium term, said International Monetary Fund chief, Christine Lagarde.

* India’s trade deficit in January was the widest in more than 4-1/2 years as a surge in the country’s oil and coal import bill outweighed a rise in exports, government data showed on Thursday.

* SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.29 percent to 821.30 tonnes on Thursday from 823.66 tonnes on Wednesday.

* Polyus, Russia’s largest gold producer, posted a 7-percent increase in 2017 adjusted net profit to $1.02 billion, the company said on Thursday.

* Australia’s top gold miner, Newcrest Mining Ltd, on Thursday reported a 58-percent fall in half-year underlying profit, dragged down by disruptions such as an earthquake hitting one of its key sites earlier in 2017.

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Commodity Market Tips – Lead futures up on rising demand

Commodity Market Tips

Commodity Market Tips – Lead futures up on rising demand

Lead futures were trading higher during the afternoon trade in the domestic market on Friday as participants created fresh positions, taking positive cues from spot market on pick-up in demand. Marketmen said building up of positions by traders backed by an upsurge in demand from battery-makers at domestic spot market, supported the upside in lead prices at futures trade.

At the MCX, lead futures for February 2018 contract is trading at Rs 168.20 per kg, up by 0.48 per cent, after opening at Rs 168, against a previous close of Rs 167.40. It touched the intra-day high of Rs 168.45.

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Indian stock market- Cardamom futures up on surging demand

Indian stock market- Cardamom futures up on surging demand

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Cardamom futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators extended their positions in the agri-commodity amid rising in physical demand for cardamom in the domestic spot market. Further, insufficient supplies on higher physical arrivals from the major cardamom producing regions supported the upward trend in the domestic cardamom prices.

At the MCX, cardamom futures for February 2018 contract was trading at Rs 1162 per kg, up by 2.91 per cent, after opening at Rs 1162, against a previous close of Rs 1129.10. It touched the intra-day high of Rs 1162.

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