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Monday, November 3, 2014

DAILY COMMODITY REPORT FROM RESEARCH VIA 3/OCT/2014


GOLD
Gold futures fell in the domestic market on Friday as investors and speculators exited positions in the precious metal tracking a weak trend in the overseas market as faster than expected US economic growth last quarter vindicated the US Federal Reserve’s decision to end bond buying while dampening safe haven demand for the bullion, and denting bullion’s appeal as an inflation hedge. The US economy grew by an annualized 3.5 per cent in the July-September 2014 quarter, beating estimates of a 3 per cent gain. Holdings in the SPDR Gold Trust, the biggest bullion-backed exchange traded product fell to a six year low, signaling weak investment demand for the precious metal. Gold futures for December 2014 contract, at MCX, is trading at Rs. 26,345 per 10 grams, down by 0.97 per cent, after opening at Rs. 26,563, against the previous closing price of Rs 26,603. It touched an intra-day low of Rs 26,335. (At 11:36 AM).
SILVER
Silver prices hit a four-year low on Friday morning following losses in the world market. At 0611 GMT, the actively traded December contract on India's Multi Commodity Exchange was down 1.83 per cent at Rs 35,903 per kilogram, after falling to Rs 35,866 earlier in the day, the lowest level since October 29, 2010. In the overseas market, silver tumbled to its lowest since early 2010, as strong US economic data and fears of an early rate hike curbed the metal's appeal.
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9 comments:

  1. Nickel fell for the first time in five days after data showed continued manufacturing weakness in China, damping the outlook for demand in the world’s largest metals consumer.
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  2. Shares of real estate and infrastructure companies continue their upward movement after the government relaxed foreign direct investment (FDI) rules in the construction sector by reducing minimum built up area as well as capital requirement and easing exit norms.
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  3. Thanq So much for giving a kind of information about MCX Tips .This type of Daily News help to Investors and Traders who trading in MCX Commodity market.
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  4. Daily commodity reports includes various recent updates of the market and trading recommendations as well.

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  6. Bhushan Steel added nearly 10 percent intraday as investors placed positive bets on the buzz of the company being acquired by Vedanta.capitalstars

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  7. Neuland Lab approves purchase of manufacturing unit in Telangana
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