Spot gold down 0.7%, Indian Rupee Weakens In Early Trades- MCX NCDEX Calls Today

The Indian rupee weakened on 7th Nov. 2016, opening at Rs. 66.75 against the dollar but climbed to a high of 66.6775, on fresh demand for the American currency from importers. 

Spot gold was down 0.7% at USD 1,295.01 in the earlier in the session, and the metal hit a low of USD 1,287.86. 

Crude oil futures extended their losses under USD 50 per barrel last week amid continued selling pressure and weakness in equities. Crude Oil settled at INR 2,942 per barrel, down 1.14 percent. A high of INR 3,000 per barrel levels was noted during the day. 

Investors around the world are watching the US elections cautiously, and many have reacted to the prospects of a Donald Trump presidency with horror, concerned about his strange and economically questionable proposals.

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. 

Equities report on Zinc, Copper, Jeera, Turmeric: MCX NCDEX Calls Today

As per Achievers Equities report, Zinc surged on worries about shortages and as a cut in capacity across China’s steel and coal sectors buoyed prices. Zinc trading range for the day is 153.5 - 160.1. 

China’s imports of refined zinc at 3,50,500 tonnes between January - September this year, up more than 14% from the same period last year. Global refined zinc stocks are expected to fall as mine supply shrinks after several giant mines were shut in the past year. 

Copper trading range for the day is 309.5 - 322.3. Copper gained amid talk of further fiscal stimulus by top consumer China fuelled buying of commodities. Fiscal and monetary stimulus in the country has enhanced investment and demand for base metals and supported prices this year. As per ICSG data, copper production and usage data indicates to an apparent production deficit of nearly 264,000 metric tonnes. 

Jeera prices dropped due to expectations of higher sowing and weak export buying. Jeera trading range for the day is 17,165 – 17,495. As per market source, acreage under jeera is anticipated to increase 10 - 15% in Gujarat and Rajasthan due to better realization. NCDEX accredited warehouses jeera stocks dropped by 54 tonnes to 2,371 tonnes. Trading range of Turmeric for the day is 7128 - 7300. Turmeric dropped due to better crop prospects due to higher sowing and positive weather conditions in the producing centers.

Today Commodity Market trading tips and updates|Cotton Updates for 31st october

Today Commodity market looking with both shades, some of commodity traded at upside with optimistic prices and some of traded at down side with lower prices. Mcx Gold and silver both precious metals are traded at down side with lower prices.

All base metals looking at above side in commodity market and traded at upside with optimistic prices.aluminum,copper,nickel,lead and zinc all are traded at above side with optimistic prices.

Cotton and mentha oil both commodities are traded at lower side with low prices and stay in negative zone with decremented prices.

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