Gold heads for first monthly loss in 2017 as rally stalls in second quarter

Gold eased on Friday to stay on track for its first monthly loss this year, as hints from leading central banks that the era of easy money may be coming to a close pushed bond yields higher, hurting the non-interest bearing metal.

While it is still up nearly 8 % in the first half, gold has stalled in the second quarter after a strong start to the year, and is little changed from where it ended in March.
Spot gold was down 0.3 % at $1,241.41 an ounce by 2:34 p.m. EDT (1834 GMT), while U.S. gold futures for August delivery settled down 0.3 percent at $1,242.30.The futures market will trade an abbreviated session on Tuesday for the U.S. Independence Day holiday.
Spot prices have fallen around 2 % so far in June, and are on track to fall 0.6 percent in the second quarter.
U.S. Treasury yields rose for a fourth straight day as inflation data was not seen as weak enough to delay the Federal Reserve’s expected path on interest rate hikes.

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Crude Oil Market Latest News Update

coiCrude oil futures on Friday were on track for their biggest weekly gain since mid-May, ending five weeks of losses with prices underpinned by a decline in U.S. output.

 

U.S. crude futures have added 5.1 percent this week, while benchmark Brent has gained 4.7 percent, marking the biggest rise for both markets since the week ending May 19.U.S. crude was trading up 0.7 percent, or 29 cents, at $45.22 a barrel at 0223 GMT on Friday, with Brent climbing 0.6 percent, or 28 cents, to $47.70 a barrel.

 

“Oil prices received momentum from Wednesday’s U.S. data and the market rejected the lows that we saw. It has been a bullish week for the oil market,” said Michael McCarthy, chief market strategist at Sydney’s CMC Markets.

 

Data indicating a fall in U.S. production bolstered markets this week after crude prices hit a 10-month low last week in the face of a mounting supply glut.U.S. crude output fell 100,000 barrels per day (bpd) to 9.3 million bpd last week, the steepest weekly fall since July 2016.

 

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Oil rises 1 percent on weaker dollar, but U.S. drilling drags

coiOil prices rose 1 percent early on Monday on a weaker dollar, but an increase in U.S. drilling activity stoked worries that a global supply glut will persist despite an OPEC-led effort to curb output.

Global benchmark Brent crude futures were trading up 45 cents, or 1.0 percent, at $45.99 per barrel at 0623 GMT.U.S. West Texas Intermediate (WTI) crude futures were up 43 cents, or 1.0 percent, at $43.44 per barrel.

 

Analysts said oil prices extended gains as investors covered short positions, but there was little fundamental news supporting prices.”It is just the fact that the oil market stopped falling. I suspect short covering,” said Ric Spooner, chief market analyst at CMC Markets in Sydney.The U.S. dollar index stayed low on Monday against a basket of currencies amid fading expectations for the Federal Reserve to hike interest rates again later this year. A weaker dollar also makes oil cheaper for countries using other currencies.

 

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कमोडिटी बाजार में आज क्या हो रणनीति

COMMODITYचीनी की कीमतें लगातार गिर रही हैं। ग्लोबल मार्केट में चीनी का दाम पिछले 16 महीने के निचले स्तर पर आ गया है और कल घरेलू बाजार में भी चीनी करीब 6 महीने के निचले स्तर पर बंद हुई। वहीं राजस्थान, पंजाब और हरियाणा में प्री मॉनसून बारिश से कपास की बुआई जोरों पर है। राजस्थान के कई इलाकों में कल से ही रुक रुककर बारिश हो रही है।

 

नॉन एग्री कमोडिटी पर नजर डालें तो कच्चा तेल पिछले 10 महीने के निचले स्तर से संभलने की कोशिश कर रहा है। हालांकि बढ़त के बावजूद नायमैक्स पर क्रूड में 43 डॉलर के नीचे कारोबार हो रहा है। वहीं ब्रेंट का दाम 45.5 डॉलर के नीचे है। वहीं सोने और चांदी में हल्की बढ़त है। चांदी पिछले एक महीने के निचले स्तर से काफी बढ़ चुकी है। आज डॉलर के मुकाबले रुपये में हल्की रिकवरी आई है। एक डॉलर की कीमत 64.55 रुपये के पास है। डॉलर में गिरावट से रुपये को सपोर्ट मिला है।फिलहाल एमसीएक्स पर कच्चा तेल 0.25 फीसदी उछलकर 2785 रुपये पर कारोबार कर रहा है। नैचुरल गैस भी करीब 0.5 फीसदी की तेजी के साथ 188.2 रुपये पर कारोबार कर रहा है। वहीं एमसीएक्स पर सोना 0.2 फीसदी की मामूली बढ़त के साथ 28680 रुपये पर कारोबार कर रहा है। चांदी 0.4 फीसदी की तेजी के साथ 38370 रुपये पर कारोबार कर रही है।

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बेस मेटल्स में कमजोरी का रुख नजर आ रहा है। एमसीएक्स पर कॉपर 0.2 फीसदी गिरकर 370 रुपये के नीचे कारोबार कर रहा है। निकेल 0.25 फीसदी की कमजोरी के साथ 581.3 रुपये पर कारोबार कर रहा है। एल्युमीनियम की चाल सपाट है, जबकि लेड 0.7 फीसदी कमजोर होकर 140.5 रुपये और जिंक 0.5 फीसदी की कमजोरी के साथ 173.1 रुपये पर आ गया है।वहीं एग्री कमोडिटी में एनसीडीईएक्स पर कैस्टर सीड का जुलाई वायदा 0.8 फीसदी की मजबूती के साथ 4190 रुपये पर कारोबार कर रहा है। हालांकि हल्दी का जुलाई वायदा 0.75 फीसदी गिरकर 6200 रुपये के नीचे फिसल गया है। वहीं ग्वार गम का जुलाई वायदा 0.2 फीसदी की बढ़त के साथ 6950 रुपये के आसपास नजर आ रहा है।

 

कैस्टर सीड एनसीडीईएक्स (जुलाई वायदा) : खरीदें – 4160, स्टॉपलॉस – 4050 और लक्ष्य – 4300

 

हल्दी एनसीडीईएक्स (जुलाई वायदा) : खरीदें – 6240, स्टॉपलॉस – 6090 और लक्ष्य – 6600

 

ग्वार गम एनसीडीईएक्स (जुलाई वायदा) : खरीदें – 6900, स्टॉपलॉस – 6750 और लक्ष्य – 7250

 

लेड एमसीएक्स (जून वायदा) : खरीदें – 139, स्टॉपलॉस – 137 और लक्ष्य – 144

 

नैचुरल गैस एमसीएक्स (जुलाई वायदा) : बेचें – 190, स्टॉपलॉस – 196 और लक्ष्य – 180

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These 17 stocks will benefit the most from fall in crude prices

Commodity-TipsRising US Shale production, low oil demand and high inventories have been a triple whammy for crude oil prices which are now trading below USD 45/barrel or some would say has entered the bear territory. Crude oil, also known as black gold made a high of USD 55.24 barrel and now made a low of USD 42.75 barrel, a fall of more than 22 percent in 2017.

“A decline of more than 20 percent from a most recent high is typically considered as a bear market. The last time crude hit a bear market was in August 2016. The ramp-up in US shale oil production raised concerns over the effectiveness of Opec’s supply cuts in balancing the oversupplied market,” D K Aggarwal, Chairman, and MD, SMC Investments and Advisors Ltd told Moneycontrol.

“The shale comeback is displayed by the unrelenting rise in the Baker Hughes rig count. The closely-watched metric has increased 22 weeks in a row — the longest streak since 1987 when the data first started being collected.It is expected that monthly U.S. oil production could hit a new record before the end of the year. As per International Energy Agency, U.S. will lead a surge in non-OPEC supply next year that will outpace growth in global demand.

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GOLD MARKET NEWS UPDATE BY MARKET MAGNIFY

goldkGold trading range for the day is 28425-28649. Gold prices climbed on Thursday as an easing U.S. dollar flattened U.S. Treasury yields to their lowest in nearly a decade.

          FUNDAMENTALS

Spot gold  had risen 0.5 percent to $1,251.91 per ounce at 0120 GMT. It rose 0.3 percent in the previous session, its largest intra-day percentage change since June 6.

U.S. gold futures  for August delivery gained 0.6 percent to $1,253.10 per ounce.

The U.S. Treasury yield curve flattened to almost 10-year lows on Wednesday as investors evaluated the impact of hawkish Federal Reserve policy on the economy even as inflation measures are deteriorating. [US/]

SPDR Gold Trust GLD, the world’s largest gold-backed exchange-traded fund, said its holdings rose 0.04 percent to 853.98 tonnes on Wednesday from 853.68 tonnes on Tuesday.

Technically market is getting support at 28475 and below same could see a test of 28425 level, And resistance is now likely to be seen at 28587, a move above could see prices testing 28649.

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Gold hits near four-week low as dollar firms

goldmGold edged lower on Monday to touch a near four-week low as the dollar held firm, with the market waiting on comments from a top U.S. Federal Reserve official after last week’s soft economic data.
Spot gold fell 0.1 percent to $1,252.40 per ounce as of 0428 GMT. It hit a fresh low of $1,250.80 during the session, its lowest since May 24.

U.S. gold futures for August delivery fell 0.2 % to $1,254.20 an ounce.

Technically market is under fresh selling as market has witnessed gain in open interest by 2.47% to settled at 4679 while prices down -78 rupees, now Gold is getting support at 28643 and below same could see a test of 28597 level, And resistance is now likely to be seen at 28767, a move above could see prices testing 28845.

                           Trading Ideas
* Gold trading range for the day is 28597-28845.
* Gold prices dropped and ended the week with weakness in the wake of signals from the Federal Reserve for another increase to interest rates this year.
* Downbeat U.S. data, with construction for new houses down in May and a June drop in consumer sentiment, underpinned prices as well.
* Asia gold demand ticked up as global prices came off seven-month highs, while Indian buyers stayed on the sidelines waiting for further price drops.

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कच्चे तेल की कीमत 45.60 डॉलर प्रति बैरल

ie-dark-days-ahead-for-crude-oil2भारतीय बास्केट के कच्चे तेल की अंतर्राष्ट्रीय कीमत गुरुवार को 45.60 डॉलर प्रति बैरल दर्ज की गई। यह बुधवार को दर्ज कीमत 46.48 डॉलर प्रति बैरल से कम है। पेट्रोलियम एवं प्राकृतिक गैस मंत्रालय के अधीनस्थ पेट्रोलियम नियोजन एवं विश्लेषण प्रकोष्ठ (पीपीएसी) द्वारा शुक्रवार को यह जानकारी दी गई। रुपये के संदर्भ में भारतीय बास्केट के कच्चे तेल की कीमत गुरुवार को घटकर 2931.34 रुपये प्रति बैरल हो गई, जबकि बुधवार को यह 2989.06 रुपये प्रति बैरल थी। रुपया गुरुवार को मजबूत होकर 64.28 रुपये प्रति डॉलर के स्तर पर बंद हुआ, जबकि बुधवार को यह 64.31 रुपये प्रति डॉलर था।

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कच्चा तेल फिसला, सोने में लौटी मजबूती

s-bde8752242f5e5fd3c847a9722c47d53e737e94eअंतर्राष्ट्रीय बाजार में कच्चा तेल 4 फीसदी गिरकर 7 महीने के निचले स्तर पर चला गया है। उत्पादन बढ़ने से इस पर दबाव है और ब्रेंड क्रूड में 47 डॉलर प्रति बैरल के नीचे कारोबार हो रहा है जबकि नायमेक्स 45 डॉलर के नीचे दिख रहा है। वहीं अमेरिका में दरों में बढ़ोतरी से सोने को सहारा मिला है और ये 1276 डॉलर प्रति औंस के पार चला गया है।

 

चांदी एमसीएक्स: बेचें – 39100, स्टॉपलॉस – 39300, लक्ष्य – 38600

सोना एमसीएक्स: बेचें – 28900, स्टॉपलॉस – 29000, लक्ष्य – 28650

 

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COMMODITY TIPS:- MCX NEWS UPDAT

SELL ZINC BELOW 159.70 TARGET 159.20-158.70-157.70 WITH SL 162.

Zinc on MCX settled down -0.38% at 158.75 tracking weakness from LME zinc which closed down 0.9% at $US2,473 a tonne, extending a drop of 1.5 % in the previous session pressured by a fall in Chinese steel prices and ahead of expected weaker Chinese data.Zinc prices was pressured after China’s rebar futures fell more than 3 %on Tuesday in their sharpest single-day drop since early May.

SELL GOLD AUG BELOW 28940 TARGET 28910-28870-28820 WITH SL 29100

Gold on MCX settled down -0.17% at 28944 dropped but little changed in yesterday session unable to take back recent losses ahead of Federal Reserve decision. Technically market is getting support at 28839 and below same could see a test of 28734 level, And resistance is now likely to be seen at 29020, a move above could see prices testing 29096.
Spot gold was up 0.3 % at $1,269.45 per ounce by 0426 GMT. On Tuesday, it touched its weakest since June 2 at $1,259.16.
U.S. gold futures for August delivery rose 0.2 % to $1,271.40 an ounce.

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