Tuesday, 17 November 2015

MCX Bullion News Update

                              Commodities News Update

Gold prices-Gold prices eased slightly on Wednesday, languishing close to their lowest in nearly six years, as the U.S. dollar rose and investors braced for the first U.S. interest rate rise in nearly a decade next month, offsetting safe-haven bids. Bullion prices have fallen for 14 out of the past 15 sessions under pressure from expectations that the U.S. Federal Reserve is set to raise interest rates next month. Data on Tuesday showing U.S. consumer prices increased in October fed those expectations

MCX Copper Tips-LME copper started at USD 4,703/mt and drifted lower to USD 4,590/mt during Asian trading hours. LME copper rallied during European and US trading hours and closed at USD 4,674.5/mt, down USD 29/mt. US dollar remains at highs, weighing on base metals prices. LME copper will move in USD 4,640-4,700/mt during Asian trading hours. Base metals prices are expected to remain range-bound. US October housing starts and construction permits will be released today. US September construction permits fell 5% MoM, with multi-family building permits down 12.1% MoM. 

Crude oil prices-U.S. crude oil prices edged above $41 a barrel in early trading in Asia on Wednesday following reports of falling stockpiles and rising refinery activity, but analysts said the market would remain under pressure for the rest of the year and into 2016. Industry group American Petroleum Institute (API) said late on Tuesday that U.S. crude stockpiles fell last week by 482,000 barrels due to lower imports and higher refinery runs. Official inventory data is due later on Wednesday from the U.S. government's Energy Information Administration. 

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  • MCX Bullion News Update Gold prices -Gold fell to its lowest level in four weeks on Monday, extending a sell-off to a fourth straight session, as investors feared the Federal Reserve would hike U.S. rates this year. The metal had posted its wo… Read More
  • MCX Bullion News Update Gold prices-Gold languished near a four-week low on Tuesday as investors bet the Federal Reserve would hike U.S. rates this year, triggering fund outflows. Gold is seeing a sell-off as investors position themselves for a p… Read More
  • MCX Bullion News Update Gold prices-Gold steadied after a five-day slide on Wednesday, but continued to languish near its lowest in four weeks, hurt by fears of a U.S. rate hike this year and investor outflows. Bullion has been under pressure sin… Read More
  • MCX Bullion News Update Gold Prices - seesawed between small gains and dips in Asia on Friday as investors sought bargains after a sharp overnight drop on views over the timing of a widely expected Federal Reserve rate hike. Metal traders con… Read More
  • MCX Bullion News Update Gold prices - Gold held near a one-month low on Thursday and looked likely to drop below the key $1,100-an-ounce level after Federal Reserve Chair Janet Yellen bolstered market expectations for a U.S. interest rate hi… Read More

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