Commodity Tips: Bullion regains sheen on strong domestic demand

Commodity Tips: Gold futures rebounded in the domestic market on Monday as investors and speculators booked fresh positions in the precious metal as national demand rose amidst the festival of Dhanteras, which is an auspicious day to buy gold.

Weakness in the rupee against the US $ also exerted upward pressure on the bullion. The rupee slid to over a month-low against the greenback as upbeat US jobs data bolstered Fed rate hike bets in December.

Speculation of further policy easing from China amidst a fourth straight slide in the country’s exports and a plunge in imports, in October, also bolstered bullion, a hedge against the inflationary risk of monetary stimulus.

Gold regained some lost ground in the overseas market on Monday as a weaker dollar bolstered the appeal of the bullion as an alternative asset. Weaker greenback makes the gold cheaper for those holding other currencies.

The gains in Gold were trimmed by concerns over US monetary tightening in the near-term, curbing the lure for the yellow metal as a store of value. Federal Reserve Bank of Boston President said that robust US economic data supports the case for a rate lift-off as early as next month.

Gold may slip back into losses today amidst fears over US interest rate hike.

At the MCX, Gold futures for December 2015 contract closed at Rs 25,686 per 10 gram, up by 0.64 per cent after opening at Rs 25,722, against the previous closing price of Rs 25,523. It touched the intra-day high of Rs 25,763.

Commodity Tips: ECB stimulus bets lift Gold

Commodity Tips: Gold futures logged modest gains in the national market on Thursday as investors and speculators booked fresh positions in the precious metal as a weaker growth outlook in the 19-member Euro area economy buoyed bets of a further stimulus firepower from the European Central Bank (ECB), bolstering the appeal of Gold, a hedge against the inflationary risk of monetary stimulus.

Mario Draghi, the ECB President said that the Frankfurt-based central bank will consider how to step up its stimulus program if it feels that the monetary easing measures it has undertaken thus far are inadequate to help the region’s economy return to price stability and solid growth. The EU on Thursday cut the economic growth estimate for the Euro area to 1.8 per cent in 2016 from an earlier 1.9 per cent amidst a global slowdown.

However, the gains in the yellow metal were curbed by renewed worries over a US rate hike in December which curbed the appeal of Gold as a store of value while bolstering the dollar, Gold’s nemesis. A stronger dollar makes Gold more expensive for those holding other currencies, thus dimming Gold’s demand as an alternative asset.

Traders awaited the US jobs data set for release later on Friday which will offer cues over the health of the labour market in the world’s biggest economy, and perhaps dictate whether the US Fed Reserve will raise interest rates in December. American employers probably added 180,000 jobs in October, up from 142,000 in September, analysts’ surveys showed.

A pickup in job growth would lay the ground for policy tightening next month, with most officials from the US Federal Reserve stressing this week that the case for a rate lift-off is very much data dependent. Federal Reserve Bank of Atlanta President said that continued improvement in the US economy may necessitate a rate hike “soon”.

Gold may trade on a cautious note today ahead of US jobs data.

At the MCX, Gold futures for December 2015 contract closed at Rs 25,841 per 10 gram, up by 0.27% after opening at Rs 25,819, against the previous closing price of Rs 25,771. It touched the intra-day high of Rs 25,922.

Mcx Bullions Tips - Gold closes higher on strong global cues as on 06 Aug, 2015

Gold futures ended higher in the indian market on Wednesday after data showed that US non-farm private employment rose less than await in this  July, irrigate optimism over the power of the economy and fanning hopes that the Federal Reserve could delay raising interest rates until the very end of 2015. Payroll processing firm ADP said earlier that non-farm private employment raise by 185,000 last month, below expectations for an increase of 215,000. Market players were also waiting for Friday's US nonfarm payrolls describe. The agreement assume is that the report will show jobs devlop of 223,000. Gold is likely to trade higher today with the focus ahead on US jobs data at the end of the week. At the MCX, Gold futures for this  August 2015 contract closed at Rs 24,705 per 10 gram, up by 0.12 per cent after starting at Rs 24,535, against the previous closing price of Rs 24,675. It touched the intra-day high of Rs 24,706.

Mcx Bullion Tips - Gold up on softer dollar; platinum and palladium at multi-year lows as on 05 Aug, 2015

Mcx Bullion Tips - Gold rose on Tuesday as the dollar debilitated after delicate U.S. financial information, while platinum and palladium hit multi-year lows on oversupply and languid autocatalysts request.

Platinum XPT= plunged to its most reduced subsequent to January 2009 at $940.50 an ounce, while palladium XPD= hit a close to three-year low of $586.30 an ounce.

"Diggers keep on expanding generation in a market that is as of now oversupplied and just critical cuts would help platinum and palladium costs recoup," Bank of America-Merrill Lynch examiner Michael Widmer said.

Both metals, for the most part utilized as a part of impetuses to tidy up vehicle debilitate emanations, were further forced by a private study on Monday that demonstrated China's manufacturing plant movement shrank more than at first assessed in July.

Mcx Bullion Tips - Silver in Bear grip on US rate tightening fears as on 31 July, 2015

Mcx Bullion Tips - Silver futures plunged by more than 1 per cent in noon trade in the domestic market on Friday as investors and speculators exited positions in the precious metal amid fears over near-term interest rate tightening by the US Federal Reserve as strong GDP numbers signaled an improving health of the world’s biggest economy, curbing the lure for Silver as a store of value.

MCX BullionTips - Dollar strength holds back yellow metal as on 31 July, 2015

MCX Bullion Tips - Gold futures ended on a lacklustre note in the domestic market on Thursday as investors and speculators stayed on the sidelines as a stronger dollar curbed the appeal of the precious metal as an alternative asset.

Stronger green-back makes Gold more expensive for those holding other currencies, thus dimming demand.

Gold was also pressured by fears over near-term interest rate tightening by the US Federal Reserve as strong GDP numbers signalled an improving health of the world’s biggest economy.

The American economy expanded at an annualized pace of 2.3 per cent in the June quarter following a revised 0.6 per cent gain in Q1, with consumer spending, the main growth driver, rising at a 2.9 per cent pace, compared to a 1.8 per cent advance in the March quarter.

Mcx Bullion Tips - The Fed on Wednesday signalled further strength in the US labour and housing markets, leaving the door open for a maiden interest rate hike since 2006, over its coming meetings.

Gold which doesn’t earn any interest tends to lose out against competing assets in a rising interest rate scenario.

The bullion may trade on a cautious note today as investors’ eye key US economic data including consumer sentiment and Chicago business activity index, offering latest cues over the health of the country’s economy.

At the MCX, Gold futures for August 2015 contract closed at Rs 24,718 per 10 gram, unchanged after opening at Rs 24,737, against the previous closing price of Rs 24,720. It touched the intra-day low of Rs 24,565.