Oil Steady Near Multi-Month Lows On OPEC Output Record, U.S. Rig Count

Oil prices were little changed on Monday near multi-month lows, dragged down by worries about oversupply as OPEC saw record output last month and as the U.S. rig count rose again.

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London Brent crude for January delivery was trading up 4 cents at $44.79 a barrel by 0738 GMT, after settling down $1.09 on Friday. The benchmark on Friday hit its lowest since Aug. 11 at $44.19.

NYMEX crude for December delivery was down 5 cents at $43.36 a barrel. The contract closed down $1.25 on Friday after dropping as low as $43.03, its weakest since Sept. 20.

 The dollar rose to a nine-month high against other currencies on Monday, pressuring oil prices.

“Overall the market is seen heading lower because of a strong dollar,” said Kaname Gokon at brokerage Okato Shoji in Tokyo.

The Organization of the Petroleum Exporting Countries (OPEC) said on Friday that its output rose to a record 33.64 million barrels per day (bpd) in October, up 240,000 bpd from the previous month.

Gold Drops To 5-Month Low As Dollar Strengthens

 Gold fell 1% on Monday to hit its lowest in over five months, pressured by a stronger U.S. dollar and expectations the Federal Reserve will raise interest rates in December.

                      Spot gold was down 0.6 % at $1,218.90 an ounce by 0245 GMT. The metal fell as much as 1 percent to $1,213.15 an ounce earlier in the session – its lowest since June 3.

U.S. gold futures slipped 0.5 % to $1,218.50 per ounce.

A broad sell-off in global commodities and surging bond yields on speculation a splurge of U.S. infrastructure spending could stoke inflation, sent the metal dipping nearly 3 % on Friday.

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U.S. Treasury futures declined to 10-month lows on Friday as bond investors worried that U.S. President-elect Donald Trump would enact policies that increase inflation, which reduces the value of debt.

Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar, in which it is priced.

Spot gold may find support in a zone of $1,204-$1,210 per ounce and bounce moderately before falling, as suggested by its wave pattern and a Fibonacci ratio analysis, according to Reuters technical analyst Wang Tao.

IEA Sees global market awash with oil in 2017 if no OPEC Cut

The oil market risks running another surplus in 2017 without an output cut from OPEC, as producers around the globe ramp up supply and demand growth falters, the International Energy Agency said on Thursday.

 In its monthly oil market report, the group said global supply rose by 800,000 barrels per day in October to 97.8 million bpd, led by record OPEC output and rising production from non-OPEC members such as Russia, Brazil, Canada and Kazakhstan.

The Paris-based IEA kept its demand growth forecast for 2016 at 1.2 million bpd and expects consumption to increase at the same pace next year, having gradually slowed from a five-year peak of 1.8 million bpd in 2015.

The Organization of the Petroleum Exporting Countries meets at the end of November to discuss a proposed cut in production to a range of 32.5 to 33 million bpd, but discord among members over exemptions and production levels has raised doubt over OPEC’s ability to deliver a meaningful reduction.

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कच्चे तेल में हलचल जारी, सोने में मजबूती

अमेरिका में चुनावी नतीजों के बाद भी कच्चे तेल में लगातार हलचल जारी है। ब्रेंट क्रूड 46 डॉलर के आस-पास कारोबार कर रहा है। वहीं सोने  में फिलहाल मजबूती बरकरार है। अब अमेरिका में चुनाव की अनिश्चतता खत्म हो गई है और अमेरिका में दिसंबर में दरें बढ़ने की उम्मीद भी घट गई है। इस सबका असर कमोडिटी मार्केट पर भी देखने को मिल रहा है।

शेयर मार्केट में बेहतर निवेश सम्बन्धी जानकरी के लिए हमारी वेबसाइट पे विजिट करे http://ripplesadvisory.com

  1.  सोना एमसीएक्स (दिसंबर वायदा): खरीदें – 29750/29700, स्टॉपलॉस – 29550 लक्ष्य – 30000/30050.
  2. चांदी एमसीएक्स (दिसंबर वायदा): खरीदें – 43100/43000, स्टॉपलॉस – 42750 लक्ष्य – 43500/43600.
  3. कच्चा तेल एमसीएक्स (नवंबर वायदा): खरीदें – 3030/3020, स्टॉपलॉस – 2960 लक्ष्य – 3140/3160.
  4. कॉपर एमसीएक्स (नवंबर वायदा): खरीदें – 358/357, स्टॉपलॉस – 354 लक्ष्य – 363/365.

Oil edges higher after shock Trump victory for U.S. presidency

 Oil prices edged higher on Wednesday as stocks and the dollar bounced back from a huge early slide following Donald Trump’s surprise victory in the U.S. presidential election.

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Crude oil prices tumbled as much as 4.0 percent to near $43 a barrel, a near two-month low, late Tuesday night as it became clear U.S. voters picked Trump as their next president.

That selloff was part of a broad-based market reaction where investors late Tuesday night fled risky assets such as stocks and the dollar  which have since recovered in value. [MKTS/GLOB]

Brent futures rose 32 cents, or 0.7 percent, to settle at $46.36 a barrel, while U.S. crude  gained 29 cents, or 0.6 percent, to settle at $45.27 per barrel.

“If you just look at today’s close versus yesterday’s close, not that much happened. But, there was a near $2 a barrel roller coaster ride in the middle,” said James Williams, president of energy consultant WTRG Economics in Arkansas.

कैसा है कमोडिटी बाजार का हाल

ग्लोबल कमोडिटी बाजार में आज भूचाल आया है। ट्रंप के आगे आने से सोने में जहां तूफानी तेजी आई है। वहीं कच्चे तेल का दाम करीब 4 फीसदी लुढ़क गया है। कॉमैक्स पर सोना करीब 3.5 फीसदी की तेजी के साथ 1310 डॉलर के ऊपर कारोबार कर रहा है। इसमें 40 डॉलर से ज्यादा की तेजी आई है। वहीं कच्चे तेल में 3 फीसदी की भारी गिरावट आई है। नायमैक्स पर क्रूड का दाम करीब 3 फीसदी गिरकर 44 डॉलर के नीचे आ गया है। ब्रेंट में भी 2.5 फीसदी की भारी गिरावट आई है और इसमें 45 डॉलर के नीचे कारोबार हो रहा है।

शेयर मार्केट में बेहतर निवेश सम्बन्धी जानकरी के लिए हमारी वेबसाइट पे विजिट करे http://ripplesadvisory.com

ग्लोबल मार्केट में उठापटक को देखकर एमसीएक्स ने सोना, चांदी, कच्चा तेल और नैचुरल गैस में खरीद और बिक्री सौदों पर 2 फीसदी का अतिरिक्त मार्जिन लगाने का फैसला किया है। दूसरी ओर भारत में 500 और 1000 रुपये के नोट पर पाबंदी से भी कमोडिटी मार्केट के सेंटीमेंट पर असर पड़ा है। कई मंडियों में कामकाज ठप पड़ गया है। सोयाबीन, कपास और ग्वार की नई फसल की आवक का सीजन है और एकाएक पमेंट संकट की समस्या आ गई है। इस बीच डॉलर के मुकाबले रुपये में भारी कमजोरी आई है।

फिलहाल एमसीएक्स पर सोना 3.4 फीसदी की तेजी के साथ 30900 रुपये पर कारोबार कर रहा है। चांदी 1.9 फीसदी की बढ़त के साथ 44125 रुपये पर पहुंच गई है। एमसीएक्स पर कच्चा तेल 3.5 फीसदी फिसलकर 2900 रुपये पर आ गया है। नैचुरल गैस 4 फीसदी गिरकर 174 रुपये पर आ गया है।

बेस मेटल्स में भी गिरावट देखने को मिल रही है। एमसीएक्स पर कॉपर 1 फीसदी से ज्यादा गिरकर 345 रुपये के नीचे आ गया है, जबकि निकेल 0.9 फीसदी गिरकर 740 रुपये के नीचे आ गया है। एल्युमीनियम 0.5 फीसदी की कमजोरी के साथ 114.15 रुपये पर कारोबार कर रहा है। लेड 0.9 फीसदी टूटकर 140 रुपये के नीचे आ गया है। जिंक 0.9 फीसदी गिरकर 163 रुपये पर आ गया है।

Gold rallies to 5-week top with Trump, Clinton in tight race

Gold jumped 3 percent to its highest in five weeks on Wednesday as early counting showed a close battle for the White House between Republican Donald Trump and Democrat Hillary Clinton, pushing investors toward safe havens.

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With voting completed in more than two-thirds of the 50 U.S. states, the race was too close to call in Ohio, Florida, North Carolina, Pennsylvania, New Hampshire and Virginia, states that could be vital to deciding which contender wins the presidency.

Spot gold was up 2.9 % at $1,311.80 an ounce by 0235 GMT. Bullion peaked at $1,312.80, its strongest since October 4.

The U.S. dollar skidded in wild Asian trade as every new exit poll in the U.S. presidential election showed the race to be a tight one.

U.S. gold for December delivery was up 3 % at $1,313 an ounce.

Jeera trading range for the day is 17910-18520

Jeera on NCDEX settled up by 1.42% at 18195 on expectations of fresh export and domestic buying. Expectations of higher sowing area under jeera due to higher prices limited the upside. Sowing of jeera for rabi season has started in slower pace and is expected to pickup intensely in the coming days. In the global market, jeera production is expected to witness a decline in other major producing countries such as Syria and Turkey. India imported around 2,550 ton jeera during Apr-Oct 28 as against negligible in the previous year.

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In 2016- 17, the output of jeera is seen falling in other major producers Syria and Turkey to 10,000 ton and 12,000 ton respectively from 15,000 ton and 17,000 ton in 2015-16. As per market source, India is likely to export 40,000-45,000 ton more jeera in coming months.

As per fourth advance estimate of Gujarat State for 2015-16, jeera production is pegged at 238,000 ton as against 197,000 ton a year ago. However, it is much lower than 2013-14 output when the state produced 346,000-ton jeera. According Department of commerce data, the exports of Jeera in the first three months (Apr-Jun) of 2016-17 is at 44,023 tonnes, higher by 71.7% compared to last year same time.