AGJ1mcr6I0mzSilver futures were trading lower during afternoon trade in the domestic market on Friday as investors and speculators exited their positions in the precious metal on subdued physical demand amid firmer greenback.
At the MCX, silver futures for May 2017 contract is trading at Rs 41394 per kg, down by 0.27 per cent, after opening at Rs 41440, against a previous close of Rs 41505. It touched the intra-day low of Rs 41319.

Technically market is under fresh selling as market has witnessed gain in open interest by 2.68% to settled at 12019 while prices down -393 rupees, now Silver is getting support at 41145 and below same could see a test of 40785 level, And resistance is now likely to be seen at 41920, a move above could see prices testing 42335.

                         Trading Ideas

*Silver trading range for the day is 40785-42335.

*Silver prices edged lower amid fading demand despite jitters ahead of the French presidential election and ongoing geopolitical tensions over North Korea.

*The Labor Department said initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 244,000 for the week ended April 15.

Sluggish demand drags down cardamom futures by 0.70%

Share Market Tips|Stock Advisory Company IndoreCardamom futures were trading lower during morning trade in the domestic market on Thursday as investors and speculators exited their positions in the agri-commodity amid subdued physical demand for cardamom in the domestic spot market. Further, sufficient supplies on higher physical arrivals from the major cardamom producing regions, influenced the downtrend in the domestic cardamom prices.

At the MCX, cardamom futures for May 2017 contract is trading at Rs 1170.50 per kg, down by 0.70 per cent, after opening at Rs 1166.10, against a previous close of Rs 1178.80. It touched the intra-day low of Rs 1160.20.

 

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Gold steady on weak dollar, geopolitical worries

caddis-gif-2Gold held steady on Wednesday, supported by a weaker dollar, geopolitical concerns about North Korea and nervousness ahead of the French presidential election.

FUNDAMENTALS

* Spot gold was down 90 cents at $1,288.39 per ounce as of 0055 GMT. The metal hit its highest since early November at $1,295.42 on Monday before closing lower, and rose 0.4 percent on Tuesday.

* U.S. gold futures were down 0.3 percent at $1,290.10

* The dollar index was hovering near a three-week low on disappointing U.S. housing starts data and nervousness over trade talks between the United States and Japan.

* U.S. homebuilding fell in March after unseasonably mild weather buoyed activity in February and manufacturing output dropped for the first time in seven months, further indications that economic growth braked sharply in the first quarter.

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Cardamom futures flat on muted physical demand

21-Amazing-Health-Benefits-Of-CardamomCardamom futures were flat during morning trade in the domestic market on Wednesday as investors and speculators remained on the sidelines in the agri-commodity amid subdued physical demand for cardamom in the domestic spot market.

Further, sufficient supplies on higher physical arrivals from the major cardamom producing regions, influenced the domestic cardamom prices. At the MCX, cardamom futures for April 2017 contract is trading flat at Rs 1381 per kg after opening at Rs 1371.30, against a previous close of Rs 1381. It touched the intra-day low of Rs 1371.30.
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Market Magnify Turmeric News Update

Turmeric on NCDEX settled up by 0.5% at 6384 on short covering after prices dropped on expectations of higher output and increasing supplies of new crop. The demand for the new season turmeric in recent weeks is lower from the up country traders. The turmeric arrivals in the country slow down last week (20-25 Mar) to 21,220 tonnes compared to 621,061 tonnes during previous week, as per the data. On the export front, country exported about 82,115 tonnes during April-Dec period; up by 28% compared to last year exports of 64,105 tonnes, as per government data.

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                          Trading Ideas

*Turmeric trading range for the day is 6244-6520.

*Turmeric prices gained on short covering after prices dropped on expectations of higher output and increasing supplies of new crop.

*urmeric output is expected to be bumper as not only the acreage was higher but weather remained favourable.

*NCDEX accredited warehouses turmeric stocks gained by 249 tonnes to 1657 tonnes.

*In Nizamabad, a major spot market in AP, the price ended at 6173.1 Rupees dropped -6.9 Rupees.

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कच्चे तेल की कीमत 49.49 डॉलर प्रति बैरल

 भारतीय बास्केट के कच्चे तेल की अंतर्राष्ट्रीय कीमत शुक्रवार को 49.49 डॉलर प्रति बैरल दर्ज की गई। यह गुरुवार को दर्ज कीमत 49.64 डॉलर प्रति बैरल से कम है। पेट्रोलियम एवं प्राकृतिक गैस मंत्रालय के अधीनस्थ पेट्रोलियम नियोजन एवं विश्लेषण प्रकोष्ठ (पीपीएसी) ने सोमवार को यह जानकारी दी। रुपये के संदर्भ में भारतीय बास्केट के कच्चे तेल की कीमत शुक्रवार को घटकर 3239.41 रुपये प्रति बैरल हो गई, जबकि गुरुवार को यह 3247.61 रुपये प्रति बैरल था। रुपया शुक्रवार को कमजोर होकर 65.46 रुपये प्रति डॉलर के स्तर पर बंद हुआ। जबकि गुरुवार को यह 65.42 रुपये प्रति डॉलर था।

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New board for indirect taxes to become operational from June 1

The Central Board of Indirect Taxes and Customs (CBIC), which will replace the current CBEC, will become operational from June 1 in preparation for the Goods and Services Tax (GST) regime, an official source said.

The Central Board of Excise and Customs (CBEC) is presently the top policy-making forum for indirect taxes in the country. “The CBIC will become operational from June 1. There will be no need for different commissionerates for service tax, central excise and others. There will be only one body Commissionerate for GST,” a CBEC source told IANS.

 

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An internal letter from the Directorate General of Human Resource Development said the notification on the CBIC will be issued in the first week of May, ahead of the July 1 rollout date for GST. The CBIC will have 21 zones, 101 GST taxpayer services commissionerates comprising 15 sub-commissionerates, 768 divisions, 3,969 ranges, 49 audit commissionerates and 50 appeals commissionerates.

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Market Magnify Silver Market Update News

Silver trading range for the day is 41045-41861.Silver gained buoyed by a dip in the dollar, as weaker than expected economic data weighed on the greenback.Feds delicate interest-rate hikes are necessary given the economy is stable and any further fall in unemployment could lead to an inflation run-up.The Commerce Department said, orders for core durable goods, a category that excludes aircraft and military goods rose 0.4% in February.

 https://www.marketmagnify.com/freetrial.php Silver on MCX settled up 0.56% at 41530 buoyed by a dip in the dollar, as weaker than expected economic data and fears that President Trump failed to secure enough Republican votes to push a key healthcare bill through congress weighed on the greenback.

 

Technically market is under short covering as market has witnessed drop in open interest by -5.76% to settled at 12636, now Silver is getting support at 41288 and below same could see a test of 41045 level, And resistance is now likely to be seen at 41696, a move above could see prices testing 41861.

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