COMMODITY MARKET NEWS :- Gold gains amid renewed North Korea fears

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Gold prices climbed to their highest in more than a week on Monday as renewed concerns over North Korea’s nuclear ambitions stoked safe-haven demand for the precious metal and weighed on the dollar.

Spot gold was up 0.5 percent to $1,282.39 an ounce by 0357 GMT, after earlier touching its highest since Sept. 29.

U.S. gold futures for December delivery gained 0.8 percent to $1,284.80 per ounce.

U.S. employment fell in September for the first time in seven years due to impacts from Hurricanes Harvey and Irma.

                                       Trading Ideas

  1. Gold trading range for the day is 29208-29780.
  2. Gold prices gained on concerns stoked by a Russian report that North Korea is preparing to test a long-range missile.
  3. Earlier, bullion fell on an upbeat reading of the U.S. unemployment rate and wage growth last month.
  4. The data showed the largest gain in U.S. wages since December 2016 bolstered bets on an interest rate hike by year-end.

Nifty may shed 36 points at opening

Indian Stock Market Tips| Commodity Trading Tips| Share Market Tips| Mcx Tips| Nifty Future Trading Tips

Maximus Securities’ Daily Report:

 

F&O Outlook:

Nifty PCR-OI has increased to 1.10 from 0.94. The rise in the ratio may be due to increase in PE of 9900 and decrease in CE of 10000. PE of 9900 and CE of 10000 are the highest number of contracts traded.

Opening for the Day:

Trading of SGX Nifty futures on the Singapore stock exchange indicates that the Nifty could lose 36 points at the opening bell.

 

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Indian rupee opens flat at 65.37 per dollar

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The Indian rupee opened flat at 65.37 per dollar on Monday versus 65.38 Friday.

 

Pramit Brahmbhatt of Veracity said, “We expect the rupee to trade with a negative bias. The trading range for the spot USD-INR is seen between 65.20-65.50 for the day.”

 

The dollar is steady versus major currencies, but the Turkish lira plunges on diplomatic tensions between the country and the US.

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