Commodity MCX – Gold rises 200, silver shines

gold silver price high Apart from the Global Market, the increased demand for the wedding season, between local jewellers and retailers, has become increasing price by Rs 200. Gold prices in the Delhi bullion market have risen to Rs 30,950 per ten gram. This is a three-month high level. Due to demand among Industrial units and quin makers, the silver price has gone up to 40 thousand per kg.

The reason for this increasing price Gold and Silver-
Due to increasing gold price between demand local jewellers and retailers say bullion traders. In addition, gold is also strong in global trends. Globally, Gold high 0.42 percent to $1,343 an ounce in the Singapore market. In this same Silver gained 0.90 percent to $17.36 an ounce.

Monday high- Sensex jumps 209 pts, Nifty hits 10,700 for first time

Sensex Nifty highKey indices moved on a higher note on Monday with Sensex & Nifty hitting all-new record peaks on the back of Q3 earnings hopes and positive global cues.

The BSE Sensex spiked 238.64 points at 34,831.03 while NSE Nifty added 67.75 at 10,749 in the late morning, for the first time ever. It is hoped all through this week, the stock markets are expected to be guided by the third-quarter earnings of major companies like HDFC Bank, ITC Ltd, Wipro Ltd, Kotak Mahindra Bank, Bharti Airtel and Yes Bank etc.

The stock of ICICI Bank extended the gains rising 3.29% to the day’s high of Rs 328.05 while HDFC shares rose 2% to the day’s high of Rs 1,796.7 after the company approved raising up to Rs 13,000 crore in its banking arm.

Shares of ICICI Bank, HDFC, Power Grid, Wipro, TCS, RIL, and SBI were the major gainers IN Sensex while Bharti Airtel and IndusInd Bank traded a little lower.

Infosys shares rose 1.26 percent to a fresh 52-week high of Rs 1092.05 after the company on Friday reported a rise of 38.22 percent in the net profit to Rs 5129 crore for the Oct –Dec quarter for the current fiscal.

5 Dec Tuesday Sensex, Nifty slip in early trade; RCom tanks 7%

sensex nifty downThe benchmark indices Sensex & Nifty opened moderately lower on Tuesday as most of the Asian shares slipped in the early morning led by the falls in I.T stocks.

At 10.48 am, the BSE Sensex shed 114.33 points to begin at 32,755.39 whereas NSE Nifty 50 started the day at 10,090.10, down by 37.65

Shares of Wipro Ltd, Adani Ports, Power Grid and NTPC were the top losers today followed Infosys and HDFC Bank which contributed the most to the Sensex fall, while the shares of Bharti Airtel, ICICI Bank, supported to reduce the losses.

Shares Reliance Communications (RCom) slipped 6.93 percent to hit the day’s low of Rs 10.74 while Reliance Naval dipped 4.22 percent to day’s low of Rs 34.

The Reserve Bank of India’s two-day monetary policy review starts today and the decision will be released by tomorrow. The RBI’s monetary policy committee is expected to keep the policy repo-rate unchanged in the upcoming monetary policy review owing to various factors.

Commodity Tips MCX Gold, silver end flat on lack of demand today

Gold Silver prices Gold and silver were being traded flat in morning trade on Monday due to lackluster demand of precious metals from jewellers, industries and retailers.

MCX Gold futures were trading 0.12%, or Rs. 36, down at Rs 29,282 /10 gram whereas MCX Silver futures were down 0.08%, or Rs. 33, at Rs 39,116 / 1 kilo.
Investors remained watchful before the naming of the subsequent US Fed Reserve chair and ahead of a 2-day FOMC meeting, both scheduled this week.

Meanwhile, the rupee, the domestic currency, rose higher by increasing 16 paise to 64.89 V/s U.S dollar after the European Central Bank announced that it would soon shrink off its monetary stimulus.

The weakness of dollar against the Euro and other key currencies overseas following the European Central Bank move set off the rise in the local unit.

Commodity Tips- MCX Crude & Palm, Gold Silver Price today

crude palm oil

MCX Crude Palm Oil futures are doubtful to grow much given the overhang of inventories in Malaysia, where price of vegetable oil rose 3.9% month on month to hit 2.02 million tonnes in September, as per latest update.

The increase took stocks to their peak since February 2016. However, the local production declined for a second consecutive month. As per latest data, it is shown that a fall of 1.7% to 1.78m tonnes. MCX Crude Palm Oil futures closed at Rs 539.50 /10 kg in last session and could face selling on moderate rallies.

Meantime, Oil prices eased on Thursday as US fuel inventories rose in spite of efforts by OPEC to cut production and tighten the market. WTI crude futures were trading at USD 50.98 /barrel today, down 0.6 percent, from their last settlement.

Brent crude futures were at USD 56.58, down 0.6% from the previous close.  Starting the current year, the OPEC and other oil producers including Russia agreed to cut output by 1.8 mn. BPD /day to prop up prices.