Gold Opens best Investment avenue! Dhanteras and Diwali 2016

Indian gold market is all set to welcome yet another climax in the Festival of lamps, during Dhanteras and Diwali, around the corner. Indian gold prices follow global trends always, while its demand were mainly driven by local factors such as festivals and marriage seasons. 

The prices of Gold prices moved slowly on Thursday to extend losses from the earlier session as the US dollar balanced against the yen, but underlying demand for bullion was witnessed as strong ahead of festive season. The precious Gold 22 carat recovered to ended at Rs 29,893 per 10 gram in the market now. 

With the current rally in the domestic equity market, gold becomes a good investment avenue. Over the long term, investing a part of savings in gold always brings good returns. simultaneously, it generates security against erosion of purchasing power to the exchange rate or inflation.  

However, Gold delivered 15% returns compound annual growth rate over the last 15 years and after negative returns for 3 consecutive years, gold has set positive returns this year, adding up excitement of investors. 

Asia's oil markets tightens as China cuts output, fuel stocks decline

From sharp cuts to Chinese oil production to falling inventories of refined fuel products, there is an extent of possibility that Asia's oil markets are slowly returning to balance.  Global inventories of refined products have all fallen since the start of the month. They are now at or below levels seen this time last year, as per Thomson Reuters data. The drawdown come after China, this week reported a 9.8% fall in the output for Sept, amounting to one of the deepest cuts on record.  

The falling stocks in most oil trading hubs, including Singapore, Europe's Amsterdam, Rotterdam, Antwerp, and in the US, as well as China's declining production, are indications of a market coming closer into balance following 2 years of consistent crude and refined product oversupply.  Analysts are of view that the tighter markets were on account of both strengthening demand and tightening supplies. 

13 May Commodity MCX NCDEX market trading call on Tuesday

SELL Copper Jun below 415 targets 413.50/412/410.5 Stop loss 420 

BUY Dhaniya May below 9740 targets 9765/9790/9820 Stop loss 9680 

SELL Nickel May below 1265 targets 1260/1255/1250 Stop loss 1275 

BUY Soyrefined oil Jun above 698 targets 700/702/704 Stop loss 694 

BUY Crude oil May above 6030 targets 6050/6070/6080 Stop loss 5990

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