Jeera closes higher on limited stocks As on 13 july, 2015

Jeera prices closed higher by 0.22 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions. At the NCDEX, jeera futures for on July 2015 contract closed at Rs. 16,205 per quintal, up by 0.22 per cent, after opening at Rs. 16,210 against the previous closing price of Rs. 16,170. It touched the intra-day high of Rs. 16,380.

Sentiment better further as a result of decrease domestic supplies in the

physical markets and some export enquiries.

The Global output of Jeera is about 2.2 lakh MT per annum, of which India produces about 1.5 lakh MT per year. India exports Jeera mostly to the UK, UAE,US , Brazil, Japan, Singapore, Bangladesh and many other countries. Other prime exporters are Turkey and Syria .

Today Natural Gas extends losing streak as on 9 July, 2015

Natural Gas futures tumbled by more than 0.80 per cent in the domestic market on Wednesday as investors and speculators exited positions in the energy commodity amid speculation that moderate weather across parts of the US in the near-term may curb demand for the fuel which is used to fire up power plants as the need for cooling offices and homes arises.
new weather forecasting models predicted maximum average temperatures across most parts of the US in the next two weeks.

Traders were cautious ahead of the weekly US storage data due on Thursday which may show an 85 billion cubic feet rise in natural gas supplies in the week ended June 3, against a five-year average gain of 75 billion cubic feet and a 94 billion cubic feet advance in the same period a year ago.

At the MCX, Natural Gas futures for July 2015 contract closed at Rs 171.80 per 1 kg, down by 0.81 per cent after opening at Rs 172.60, against the previous closing price of Rs 173.20. It touched the intra-day low of Rs 171.20 till the closing.

Today Bullion runs into stronger dollar As on 08 july, 2015

Extending a decline from Monday, the yellow metal fell prey to a steep sell-off with prices tanking more than 1 per cent in the domestic market on Tuesday as a stronger dollar curbed the demand for the bullion as an alternative asset. Stronger greenback makes Gold more costly for those holding other currencies, thus dimming demand. The dollar spiked against a basket of key currencies as investors sought shelter in the safety of the greenback as fears over Greece exiting the euro heightened as European leaders held an emergency summit to decide Greece’s fate in the euro.Bets of Grexit rose after European leaders set a Sunday deadline for Greece to submit a new set of reforms or face the ugly consequences of being pushed out of the common currency.

German chancellor Angela Markel conceded that she wasn’t very optimistic over a solution to Greece’s five-year debt troubles while an event of a Greek exit from the euro threatens to undermine the credibility of the euro that was meant to be irreversible, casting doubts over the strength of the region’s economic, monetary and political integration, prompting an exit from risky assets and bolstering safe haven demand for the US currency. Gold may trade on a subdued note today as traders eye the FOMC minutes which may offer cues over the timing of a maiden rate lift-off since 2006.

At the MCX, Gold futures for August 2015 contract closed at Rs 26,032 per 10 gram, down by 1.12 per cent after opening at Rs 26,276, against the previous Ending price of Rs 26,328. It touched the intra-day low of Rs 25,883 till the closing.

Moderate weather outlook grip back Natural Gas as on 07 july, 2015

Natural Gas futures retire in the home market on Monday as investors and speculators exited positions in the energy commodity as forecasts for moderate July heat across parts of the US curbed the demand outlook for the weather-sensitive fuel as need for gas-fired cooling demand by power plants diminishes.

The Commodity Weather Group LLC predicted more seasonal temperatures in the US East Coast through July 20, 2015.

Natural gas is used for cooling reason by about 49 % of American households.

At the MCX, Natural Gas futures for July 2015 contract closed at Rs 175.70 per 1 kg, down by 0.23 per cent after start at Rs 175.50, against the back closing price of Rs 176.10. It touched the intra-day low of Rs 174.10 till the closing.

bullion loses sheen to import hold as on 1July, 2015

Speculation that Greece may reach a last-minute deal with its creditors that may avert the threat of the cash strapped nation exiting the euro dampened demand for safe haven assets such as Gold.

Just hours before the expiry of its existing bailout program, Greece on Tuesday requested the EU for a new bailout in the form of a two-year bridge loan from the Eurozone bailout fund called the European Stability Mechanism (ESM).

A stronger dollar added to the pain of the yellow metal by curbing the demand for Gold as an alternative asset. Stronger greenback makes Gold more expensive for those holding other currencies, thus dimming gold demand.

A slowdown in Euro area inflation also tarnished the appeal of Gold, a hedge against rising prices. Consumer price inflation in the Euro area fell to 0.2 per cent in June from 0.3 per cent in May.

Gold may be back with renewed vigor today after Greece defaulted on its 1.6 billion euro loan repayment to the IMF while the EU said that Greece’s request for a new bailout would only be considered later, boosting safe haven demand for the bullion.

At the MCX, Gold futures for August 2015 contract closed at Rs 26,471 per 10 gram, down by 0.75 per cent after opening at Rs 26,625, against the previous closing price of Rs. 26,671. Its touched the intraday low of Rs 26,390 till the closing.