Today Commodity News Update

                    GOLD
Gold prices gave up strength and were unchanged to end the trades at Rs 28080 per 10 grams. Transaction volumes picked up and there has been decrease of long positions. The prices of Gold tested a high of Rs28237 per 10 grams and a low of Rs 28071 per 10 grams was noted.
                     SILVER
Silver trading range for the day is 37485-38809. Silver prices settled flat as expectations for a June rate hike surged, after the U.S. economy created more jobs than expected in April, while unemployment fell to its lowest level since May 2007.
                   CRUDEOIL
Crudeoil trading range for the day is 2769-3109. Crudeoil on MCX settled up 1.3% at 2969 following positive U.S. jobs data and assurances by Saudi Arabia that Russia is ready to join OPEC in extending supply cuts to reduce a persistent glut.
                       COPPER
Copper declined sharply in a single session on 8 May 2017. The tormenting by bears halted Copper and the prices have now breached all important Rs 360 per kg levels and have been able to set Rs 350 per kg as next benchmark support. From here the declines can take metal towards Rs 352 and 350 per kg. Copper settled at Rs 356.95 per kg. The session on Tuesday can see Copper in range of Rs 350-365 per kg.

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कच्चे तेल की कीमत 50.36 डॉलर प्रति बैरल

ie-dark-days-ahead-for-crude-oil2भारतीय बास्केट के कच्चे तेल की अंतर्राष्ट्रीय कीमत मंगलवार को 50.36 डॉलर प्रति बैरल दर्ज की गई। पेट्रोलियम एवं प्राकृतिक गैस मंत्रालय के अधीनस्थ पेट्रोलियम नियोजन एवं विश्लेषण प्रकोष्ठ (पीपीएसी) द्वारा बुधवार को यह जानकारी दी गई।

रुपये के संदर्भ में भारतीय बास्केट के कच्चे तेल की कीमत मंगलवार को 3233.78 रुपये प्रति बैरल रही। रुपया मंगलवार को 64.21 रुपये प्रति डॉलर के स्तर पर बंद हुआ।

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Gold falls after dollar firms on deal to fund U.S. government

mmgoldGold fell on Monday after the dollar edged up as U.S. congressional negotiators hammered out a deal on a spending package to keep the federal government funded through September.
FUNDAMENTALS
* Spot gold dropped 0.3 % to $1,264.06 per ounce, as of 0236 GMT.
* Gold, last week, saw its biggest weekly percentage fall since the week of March 10, ending about 1.2% lower.
* U.S. gold futures eased 0.2 % to $1,265.20 an ounce.
* The dollar index rose 0.1 % to 99.118. [USD/]
* U.S. congressional negotiators have hammered out a bipartisan agreement on a spending package to keep the federal government funded through the end of the current fiscal year on Sept. 30, a senior congressional aide said on Sunday.

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Gold on track for biggest weekly decline in seven weeks

Gold trading range for the day is 28572-28894. Gold was little changed on Friday but poised for the biggest weekly fall in seven weeks as investors sought out riskier assets, dampening demand for gold, which pays no interest.
 
Gold on MCX settled down -0.33% at 28719 as investor appetite for riskier assets surged on renewed optimism over the U.S. economy and as political uncertainty in France receded, softening demand.
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Technically market is under long liquidation as market has witnessed drop in open interest by -2.37% to settled at 5733 while prices down -95 rupees, now Gold is getting support at 28645 and below same could see a test of 28572 level, And resistance is now likely to be seen at 28806, a move above could see prices testing 28894.

Oil falls on bulging U.S. crude inventories, record global supplies

Commodity-TipsOil prices resumed their downward trend on Wednesday as data showed a rise in U.S. crude inventories and record supplies in the rest of the world cast doubt on OPEC’s ability to cut supplies and tighten the market.

U.S. West Texas Intermediate (WTI) crude oil futures  were trading at $49.32 per barrel at 0052 GMT, down 24 cents, or 0.5 percent from their last close, after gaining 0.7 percent in the previous session. WTI has fallen for seven of the past eight sessions.

Traders said that a report late on Tuesday by the American Petroleum Institute (API) that U.S. crude oil inventories rose by 897,000 barrels in the week to April 21 to 532.5 million barrels had weighed on WTI.

Brent crude futures <LCOc1>, the international benchmark for oil prices, were at $51.88 per barrel, down 22 cents, or 0.4 percent, from their last close. Brent is around 8.5 percent below its April peak.

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