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.

Commodity Market- MCX Gold, Copper futures end higher on Tuesday

MCX gold silver Gold futures ended higher on Tuesday since the US dollar headed lower and investors were keen to look at the Federal Reserve’s recent minutes of meeting due midweek from expecting for clues on plans for interest rates.

Gold futures for December delivery added USD 6.40 or 0.5% to settle at USD 1,281.70 per ounce on the primary market, Comex of the NY Mercantile, while spot gold was up 0.3% at USD 1,280.63 an ounce.

Conversely, Comex copper futures ended higher on Tuesday. Copper futures for December delivery rose 1.2% to settle at USD 3.129 a pound on the Comex metals division of NY Mercantile Exchange.

Meantime, oil extended gains after data showed a considerable draw in inventories. U.S. light crude added 25 cents to USD 57.08 while Brent crude oil was flat at USD 62.57.

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.

Gold prices falls by Rs. 225 on muted demand from jewellers, MCX Silver rate

gold silver prices Gold prices slumped by Rs. 225 to Rs. 30,375 /10 gram at the bullion market on Thursday afternoon on muted demand from local jewellers, while Silver dropped by Rs. 450 to Rs. 40,000/kg on account of reduced off-take by industrial units and coin makers. Internationally, the price of gold rose 0.06% to USD 1,275.40 per ounce and silver by 0.24% to USD 16.61 per ounce in Singapore.

In New Delhi, the gold of 99.9% and 99.5% purity slumped by Rs.225 each to Rs. 30,375 and Rs. 30,225/10 gram, respectively. However, Sovereign remained unaltered at Rs. 24,700 piece of eight gram in limited deals, while Silver coins remained fixed at Rs. 74,000 for buying and Rs. 75,000 for selling of 100 pieces.