Menu

Mcx Live News

Gold prices end flat on firm rupee, inflation hedge; to hover around Rs 51,200 per 10 gm in June

Gold prices were steady during the week to settle at Rs 48,542 per 10 gram as players sat on the sidelines ahead of inflation data. Precious metal prices saw little reaction to the GDP and new jobless claims data. However, upbeat US data showed that a recovery in the world’s largest economy was on track. Read More

Gold hovers near 4-1/2-month high on tepid dollar, inflation jitters

Gold prices climbed on Monday to hover near a 4-1/2-month high, supported by a weaker U.S. dollar and growing inflationary pressure, while a slide in cryptocurrencies further lifted the safe-haven metal’s appeal. Spot gold was up 0.2% at $1,883.21 per ounce by 0301 GMT. Last week, gold prices hit their highest level since Jan. 8 Read More

Zinc price rises on dollar weakness, inflation concerns; is it time to sell

Zinc prices strengthened to Rs 232.10 per kg as participants rolled over their long position as seen by the open interest. The base metal traded in the positive territory after a gap-down start tracking weaker dollar. On the MCX, Zinc delivery for May gained Rs 0.60, or 0.26 percent, to Rs 232.10 per kg with Read More

Oil falls for third day on rising coronavirus infections, US stockpiles

Oil prices fell on Thursday after a slump in the previous session, as rising U.S. stockpiles added to concerns about a hit to demand from surging coronavirus infections in Asia and possible U.S. rate hikes. Brent crude was down 6 cents, or 0.1%, at $66.60 a barrel by 0141 GMT, having fallen 3% on Wednesday. Read More

Oil falls on concerns of Iranian supply return, inflation fears

Oil prices fell for a second day on Wednesday on the potential of Iranian supply returning and as investors sold on speculation that inflation fears might lead the U.S. Federal Reserve to raise interest rates, which could limit economic growth. U.S. West Texas Intermediate (WTI) crude futures dropped 73 cents, or 1.1%, to $64.76 a Read More

The dollar sank to a six-year trough against the Canadian dollar and teetered near multi-month lows versus other major peer currencies on Tuesday, as Treasury yields stalled amid renewed expectations the United States will not hike interest rates anytime soon. Dallas Federal Reserve President Robert Kaplan on Monday reiterated that he does not expect interest rates to rise until next year, fueling a further decline in bets that inflationary pressure could force the Fed to act sooner. This week a host of Fed policymakers are scheduled to speak, and the U.S. central bank will also release minutes from its most recent meeting, which may give indications about where monetary policy is headed. The growing market consensus is that the Fed will tolerate what it sees as a temporary acceleration in inflation, which will keep the dollar lower against most major currencies. “The dollar is on its knees and this seems to be a direct result of how investors feel about the U.S. inflation outlook and the Fed’s reaction,” said Valentin Marinov, head of G10 FX research at Credit Agricole. Marinov highlighted two inflation outlook scenarios that would have different impacts on the markets – the first one being the current market expectation that price growth will soon ease. “This will keep the Fed dovish, U.S. real yields very negative and the dollar weak … boosting commodity prices and supporting risk assets,” he said. “Under the second inflation outcome, we see a more persistent rebound of the U.S. inflation this and, potentially, early next year.” Under Marinov’s central scenario, that could nudge the Fed towards tapering bond purchases this summer, thus boosting the outlook for U.S. Treasury yields and the dollar. The benchmark 10-year U.S. Treasury yield stood at 1.6471%, extending a pullback from a five-week high reached last week. The dollar traded above $1.22 to the euro, the single currency hitting its highest against the greenback since Feb. 25. The British pound rose past $1.42 for the first time since Feb. 24. Sterling has been buoyed as investors cheer the gradual lifting of strict coronavirus restrictions. The Canadian dollar advanced to a six-year high of 1.2013 to the greenback, aided by a rise in oil prices. Up 5% against its U.S. peer year-to-date, the trader-nicknamed “loonie” is the best performing G10 currency on the year. The dollar lost 0.3% to 108.96 yen. The Japanese currency is the worst-performing G10 currency this year, down over 5% year-to-date against the greenback amid worries about Japan’s slow pace of vaccinations and weakness in the greenback. Some investors were already scaling back expectations for a Fed rate hike this year, and Kaplan’s comments gave traders even more incentive to sell the dollar. The onshore yuan edged up to 6.4188 per dollar, not far from an almost three-year high reached last week. The Australian and New Zealand dollars rose as much as half a percent each against their U.S. counterpart. In the cryptocurrency market, bitcoin rose 3.3% to $45,023.53 but was still close to a three-month low after Tesla boss Elon Musk dented enthusiasm for the digital asset. Rival digital currency ether rose 6.50% to $3,494, steading from a two-week low on Monday.

Oil prices climbed on Tuesday, extending gains from the previous day, as optimism over the reopenings of the U.S. and European economies outweighed fears of slower fuel demand in Asia due to surging COVID-19 cases and a new wave of restrictions. Brent crude oil futures were up 20 cents, or 0.3%, at $69.66 a barrel Read More

Natural gas prices rise on cooling demand; speculators increase net long positions

Natural gas futures climbed on May 17 as the forecast suggested warmer weather and a decline in rig count. The gas price fell 0.41 percent last week on the domestic bourse. On the Multi-Commodity Exchange (MCX), natural gas delivery for May rose Rs 5.60, or 2.59 percent, to Rs 222 per mmBtu at 14:44 hours IST Read More

‘Portfolio that comprises gold provides better risk-adjusted returns, so allocate 15-20% of portfolio’

Gold symbolizes wealth that appreciates over time, never diminishes, and provides financial security during difficult times. In our country, people buy gold whatever the celebration is, and wonderfully there is one festive occasion in the Hindu calendar ‘Akshaya Tritiya’ when buying gold is considered auspicious. From the ancient times to the modern age, from the Read More

Gold eases on firmer dollar, yields; all eyes on US inflation data

Gold prices fell on Wednesday, as a rise in U.S. Treasury yields and a firmer dollar dented the metal’s safe-haven appeal, while investors awaited U.S. consumer price index data due later in the day. FUNDAMENTALS * Spot gold was down 0.2% at $1,832.73 per ounce by 0109 GMT. * U.S. gold futures eased 0.1% to Read More

Gold firms as US jobs data miss cements low rates view

Gold prices inched higher on Monday to trade near a three-month peak hit last week after weaker-than-expected U.S. jobs data supported hopes that interest rates will remain low for some time, bolstering the metal’s appeal. Spot gold was up 0.1% at $1,832.26 per ounce by 0315 GMT, after hitting its highest since Feb. 11 at Read More

Oil prices edge up as investors eye fuel demand recovery

Oil prices edged up in early Asian trade after a 1% dip in the previous session, as global economic recovery and easing travel curbs in the United States and Europe buoyed the fuel demand outlook while the surging pandemic in India capped prices. Brent crude futures for July were at $68.17 a barrel by 0052 Read More

Oil prices fall as US gasoline stocks rise for a fifth week

Oil prices fell on Thursday as gasoline inventories in the United States, the world’s largest oil consumer, rose for a fifth consecutive week although a draw in crude stockpiles helped to underpin prices. Brent crude oil futures fell by 16 cents, or 0.2%, to $68.80 barrel by 0123 GMT, and U.S. West Texas Intermediate (WTI) Read More

Yellow metal mirrors global weakness to trade lower on Fed comments, stronger dollar

Gold prices corrected in the Indian market on May 4 as a stronger dollar and Federal Reserve Chair Jerome Powell’s comments that the US economy was poised for strong growth but would need the bank’s support weighed on the yellow metal. Silver, too, was trading lower by 0.38 percent. On MCX, June gold futures were trading Read More

Gold gains as rising virus cases, pullback in US yields lift demand

Gold prices rose on Monday as a retreat in U.S. Treasury yields and worries over surging COVID-19 cases in some countries boosted the metal’s appeal, while palladium held firm after surpassing the $3,000-per-ounce level in the previous session. Spot gold was up 0.3% at $1,773.90 per ounce by 0418 GMT. Trading in Asian hours was Read More

Crude oil falls 1% to Rs 4,763/barrel on weak China data, rising coronavirus cases

Crude oil futures slumped to Rs 4,763 per barrel on April 30 as participants increased their short positions as seen by the open interest. Crude oil declined on weak China factory activity data, surging coronavirus cases in India, Japan and Brazil despite upbeat US GDP data. The energy commodity extended decline after a gap-down start Read More

Oil markets will have to live with the pandemic for another year

Oil prices saw a record rally in the week gone by, posting the biggest weekly gain since early March after experiencing a downward trend for weeks as investors cheered impressive data from China and the US, giving a boost to chances of a quick economic recovery. The International Energy Agency joined the world’s major oil Read More

Gold eases off seven-week peak as US yields rebound

Gold prices slipped on Tuesday after hitting a seven-week high in the previous session, as a rise in U.S. Treasury yields eclipsed support from a weaker dollar. Spot gold was down 0.2% to $1,766.32 per ounce by 0245 GMT, after hitting its highest since Feb. 25 at $1,789.77 on Monday. U.S. gold futures eased 0.3% Read More

Oil rises on drawdown in US oil stocks, OPEC demand outlook

Oil prices rose in early trade on Wednesday, adding to overnight gains, after industry data showed U.S. oil inventories declined more than expected and OPEC raised its outlook for oil demand. Brent crude futures rose 28 cents, or 0.4%, to $63.95 a barrel at 0057 GMT, after climbing 39 cents on Tuesday. U.S. West Texas Read More

Gold edges lower as firmer bond yields, recovery hopes weigh

Gold slipped on Tuesday as firmer U.S. Treasury yields took some sheen off the yellow metal, with optimism about a quick economic rebound weighing on prices further. FUNDAMENTALS * Spot gold fell 0.3% to $1,728.15 per ounce at 0122 GMT. U.S. gold futures were down 0.2% at $1,729.10 per ounce. * Treasury yields in the Read More

Oil prices climb on favourable outlook for US fuel demand

Oil rose on Monday amid hopes that fuel demand is picking up in the United States as the summer driving season approaches and the rollout of COVID-19 vaccinations there accelerates, though increasing case numbers in other countries are set to cap gains. Brent was up 25 cents, or 0.4%, at $63.20 a barrel by 0155 Read More

McxLive.org is for Stock / Commodity Market Information purposes only and is not associated with MCX India

McxLive.org is not a Financial Adviser / Influencer and does not provide any trading or investment skills / tips / recommendations via its website / directly / social media or through any other channel.

Disclaimer / Disclosure and Privacy Policy / Terms and conditions are applicable to all users /members of this website.

The usage of this website means you agree to all of the above