MCX CRUDE
Gold Price Today: Gold opens flat at Rs 71,689 per 10 gram, silver trades at Rs 89,867/kg
Gold and silver prices remain stable but cautious as markets await speeches from Fed Chair and ECB President. Manoj Kumar Jain predicts price volatility this week.
After a 13% rally so far this year, is upside in MCX crude oil futures capped?
European Union's sanctions and China's economic concerns pose challenges for oil demand. Amidst the ongoing rally, uncertainties like a potential ceasefire in Gaza and China's economic health could influence oil prices. Expert projections hint at sustainability hurdles for the current uptrend in crude oil prices.
Crude oil prices near 2-month lows. What’s next?
The global benchmark, US WTI crude currently clinging below $80 a barrel, has lost more than 10% from a near two-year high tested last month. A similar correction was witnessed in the Asian Brent and the domestic MCX futures as well.
Is the stock market closed for Ram Navami on Wednesday?
Equity markets closed for Ram Navami. All segments shut. Multi-commodity exchange opens at 5:00 pm. Trade settlements closed.
Israel-Iran conflict, Q4 earnings among 11 factors that will steer D-Street this week
The upcoming week promises to show top action with the Iran-Israel conflict taking center stage along with the earnings season which kicked off with the announcement of earnings by TCS. Oil prices, China GDP data, US retail sales figures, and movements in US bond yields and the dollar index will be important macroeconomic events that may influence market sentiments
Sudip Bandyopadhyay on sectors that will do well in Q4 and sectors that will not
Sudip Bandyopadhyay anticipates strong performance in infra, defence, BFSI, real estate. Mixed outlook for IT, FMCG; subdued for cement. Concerns over crude at $91 impact Indian markets. Banks focus on deposit mobilisation, stable asset quality. Long-term bullish on insurance sector. He further says crude oil at $91 does not mean good for the Indian equity market and the Indian economy.
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Stock markets closed for trading today on account of Good Friday
Equity markets will remain closed on two occasions in April, once each in May, June, July, August, October, December, and twice in November. November 1, Friday will be Diwali (Laxmi Pujan) and Muhurat Trading will be conducted by the exchanges, the timings for which will be notified later.
Commodity Talk: Crude oil at multi-month highs. Jigar Pandit suggests dip buying
Jigar Pandit forecasts $92-$95 Brent crude price and Rs 7,300 MCX price for 2024, urging investors to capitalize on corrections amid geopolitical uncertainties impacting crude oil supply and demand dynamics. He also says: "As the US FOMC has indicated a possible three rate cut in 2024, we expect the dollar to weaken, while the demand remains healthy for crude oil from emerging markets and Asia."
Crude oil prices are already up 10% this year. What’s next?
The Middle East is a critical area for global energy production and transportation, with several major oil-producing countries that combinedly contribute more than 30 percent of global oil production.
Commodity Talk | Crude outlook remains moderately bullish amid patchy demand: Anuj Gupta
Analyst Anuj Gupta predicts moderately bullish outlook for crude oil with prices likely to remain at current levels due to higher supply from non-OPEC producers and patchy demand from China and Eurozone. Middle East tensions and US dollar strength also impact prices.
Technical glitch delays trading at MCX on Tuesday
"The delayed start was attributed to the slow processing and generation of backend files for the members... The matter is being examined for identifying the root cause which led to the issue," said the exchange in a press release.
MCX commences trading after a four-hour delay
The exchange deferred the timings of resumption twice before the trade started. In a circular issued by MCX, it said that the trading hours for the commodity derivatives segment for February 13, 2024, have been revised from 9 am to 1 pm.
Q3 Results Today: Divi’s Lab, ONGC, MCX among 170 companies to announce earnings
Among other important results will be those by Aurobindo Pharma, Chemcon Speciality Chemicals, Sai Silks (Kalamandir), Mawana Sugars, MM Forgings and Yatharth Hospital & Trauma Care Services.
Gold Rate Today: Yellow metal set to end with weekly gains. Is it time to buy?
While the MCX April gold futures were trading at 62,900 per 10 grams at 10:30 am, down Rs 65, the March Silver contracts were down Rs 53 or 0.07% at Rs 72,165 per kg.
Budget 2024: Industry calls for govt revisit on agri commodity futures trade ban
The continued linked the prosperity of the market on the agility of policies, adherence to principles of fairness, and timely adaptations to meet the evolving needs of both the market and its investors
Geopolitical crisis, Fed, and China factor hampered commodity demand in 2023
Gold was the best-performing asset in the commodities gaining more than 15 percent in 2023.
MCX prepones launch of WTI crude oil, natural gas options contracts to October 9
On September 26, India's largest commodity exchange announced that it has received a nod from the Securities and Exchange Board of India (Sebi) to launch options contracts on underlying WTI crude oil and natural gas futures on the NSE
MCX crude oil at 10-month high. Should you buy at current levels?
After a strong rally, crude oil futures are witnessing some profit-booking at higher levels, but the overall trend remains positive, and a buy-on-dips strategy is recommended, analyst Anuj Gupta, Head Commodity & Currency at HDFC Securities, told ETMarkets. He suggests a buy at Rs 7,050 with a stop loss of Rs 6,950 and a target of Rs 7,300.
Gold Rate Today: Gold falls as dollar, bond yields go up. Check price of yellow metal in Delhi, Ahmedabad, and other Indian cities
Tracking cues from their foreign peers, both gold and silver futures ended with declines in the previous session. While the former ended Rs 118 per 10 grams lower, the latter was down Rs 27 per kg.
Why crude oil prices are under pressure even after surprise output cut from Saudi Arabia
Despite Saudi Arabia's announcement of output cuts and efforts by OPEC Plus to limit supplies into 2024, global crude oil prices continue to remain low due to high Russian oil flows, increased US production, and weak economic growth outlook. Rising inventories and expectations of increased US production alongside a fragile demand further dampen price outlook. Russia's unabated flow of oil and China's struggling economy also contribute to a moderate demand outlook, which may cap potential price gains and keep active US WTI crude prices between $79 to $64 a barrel.
Commodity Talk: Crude oil to remain volatile amid US debt crisis, says Prathmesh Mallya of Angel One
Oil prices are likely to remain volatile until the US debt ceiling crisis is resolved on June 1, according to Prathamesh Mallya of Angel One. As the US government has always approved the debt ceiling in the past, it is likely to be a last-minute approval on this occasion as well. Regardless of the outcome, the consumption of oil will continue, with factors such as a slowdown in China and a stronger dollar creating impact on the prices of oil and resulting in high volatility in the market.
Bank Nifty poised to move towards 41,500; gold can reach $2100 and crude may inch up to $6,700: Rajesh Palviya
“The Pharma Index is now trading above its 50-day moving average, indicating that buying interest is likely to continue in the short term.”
Crude on boil! Surprise Opec+ cut may fire oil prices to $90-95 by 2023-end
Meanwhile, Goldman Sachs raised Brent crude price forecast for December 2023 to $95 per bbl and December 2024 forecast to $100 per bbl following the announcement. The global investment bank lowered its end-2023 production forecast for OPEC+ by 1.1 million bpd.
Goldman Sachs cuts Brent crude futures forecast to $94
He said that weakness in oil prices is welcome news from the Indian standpoint as this would lower India’s import bills lowering the current account deficit (CAD). Imports account for over 80% of the country's oil requirements, Gupta noted.
MCX Crude oil futures fall 10% since SVB collapse; should you sell on rise?
"With the adverse perception of the banking crisis and the rising crude stockpiles, crude prices are anticipated to be under pressure," Prathamesh Mallya, Assistant Vice President (AVP) - Research, Non-Agri Commodities, and Currencies at Angel One said.
Gold Price Today: Yellow metal’s YTD gains at 5.4%; analyst sees buying opportunity as prices soften
"Gold prices bounced back after a pullback seen the other day, as a fresh crisis in the banking sector turned investors turned attention towards the safe haven asset, gold," Prathamesh Mallya, Assistant Vice President - Research, Non-Agri Commodities, and Currencies at Angel One said.
Gold Price Today: SVB crisis is opportunity to buy bullion, says analyst
"The Gold extended its crazy bullish momentum and surged with 2.43% gain on Monday, benefited from renewed risk-aversion, with the focus on a banking crisis born in the United States and spreading across the Atlantic," Marc Despallieres, Chief Strategy and Trading Officer at Vantage said.
Gold Price Today: Yellow metal shines on dollar weakness; buy futures for this target
"Over the weekend, the Fed rolled out emergency measures to make borrowing easier for embattled banks. The White House also assured Silicon Valley Bank depositors that it would cover all withdrawals. Comex Gold is heading towards $1900, which may act as a strong resistance for prices. Support is seen around the $1840 level,"
Hope to see very good participation in crude and natural gas contracts: Rishi Nathany, MCX
Well, the reason for the lack of widespread participation is that, one we try to introduce as many contracts as possible and so do other exchanges. However, the value chain or the industry needs to come out and hedge more on the domestic exchanges that is one reason why industrial hedging is not so prevalent in India.
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