Market updates : Currency, Share tips & overview for 18 Feb, 2016

The market breadth was strong as around five shares advanced for every share declining on the Bombay Stock Exchange. Dr Reddy's Labs, Hindalco Industries,  Tata Motors, ICICI Bank, ONGC, Bank of Baroda, Vedanta and Cairn India rallied 2-5 per-cent while Bharti Airtel and Idea Cellular were in red lines. Click for Share tips

The INR(rupee) opened high by 8 paise at 68.39 per dollar today as compared to 68.47 on yesterday. Mohan Shenoi of Kotak Mahindra Bank told "Despite better-than-estimated US industrial production data, the next Fed rate lift is unpredictabily to be before June 16."

"Given weak equity markets in India, the USD-INR is assumed to trade today in a range of 68.30-68.60/dollar," he later contributed. The USD weakened as compared the japanese yen after the Federal Reserve released the minutes from its January meeting.

Markets of asia were trading higher with Hang Seng & Nikkei gaining over 2 percent each following a strong end in the US and market of Europe.

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Commodity & currency updates for 16 feb, 2016

The INR(rupee) depreciated by 7 paise to 68.14 as compared to the USD in early trade on today.Click for Mcx crude tips

The local currency had appreciated 16 paise to end near 68.07 after after the People's Bank of China PBOC) on Monday raised its daily fixing against the greenback by 0.3 per-cent, the most since November month.

Most other Asian markets were trading high on ECB comments & surge in Mcx crude oil prices. Japan's Nikkei were trading higher by 0.9 per-cent while the South Korean Kospi was up 1.41 per cent. Hong Kong's Hang Seng index was up 1.6 per-cent. China's CSI 300 index went up by 2.4 per-cent.

Gold bullish, amid flight to safety 12 feb

Commodity updates : Gold futures soared by more than 5 per-cent in the local market on Thursday, whilst marking their best performance in seven years overseas, as investors, scarred by the prospects of dwindling world wide growth, doubting world central banks’ ability to prop up a fading recovery, shunned risky assets, seeking shelter in the safety of the yellow metal.

An ongoing mcx oil price collapse, worries over a China slowdown and renewed fears over the health of the US(United States) economy have strike risk taking appetite, pushing world wide stock markets on the brink of a bear market, bolstering the safe haven appeal of the bullion.Click for Commodity tips

World stocks sank on yesterday as Fed Chair Janet Yellen warned over the risks posed by the worsening financial market turbulence on the US economic overview, conceding that the world’s top central bank is toying with the idea of negative interest rates as a policy tool as recession fears mount. Yellen’s remarks that the Fed may get back the timetable for further interest rate hikes have bolstered the lure for gold as a store of value.

Commodity tips & updates for 14 Dec, 2015

Commodity updates : After the worst commodity collapse in few years, there may be some glimmers of hope. Gold, wheat & natural gas probably will increase in 2016, in accordance with the Bloomberg survey of 108 traders, economists & strategists across Europe, Asia and the Americas. It won't all be positive. For oil, mired in the highest slump since 1998, bearish respondents told prices may drop below this week's 6-year low, while the survey showed overwhelming pessimism for copper.

The year 2015 meltdown sent almost every commodity lower, shrinking profits for companies including South African mine owner Anglo American and energy producer Royal Dutch Shell. 

The world got stuck with raw-material surpluses after years of expansion met a slowing economy in China. With producers struggling to halt losses, they are selling assets, cutting dividends and slashing output, which may be sufficient to put a floor on prices.

Today's Bullion update : Gold sits tight 10 Dec, 2015

 

Gold market update : Gold was treading water from today morning as investors stuck to the sidelines ahead of a widely anticipated US rate increase next week, with even a slump in the dollar failing to set interest in the metal.

Spot gold was little bit changed at USD 1,073.31 an ounce by 0043 GMT, after closing down 0.1 per-cent in the previous session.

Yellow metal investors are cautious as the US(United States) central bank is about to increase interest rates for the 1st time in nearly a decade at its up coming policy meeting on Dec. 15-16.

Greater rates should dent requirement for non-interest-paying gold, which already lost 9 per-cent of its value at presently and is on track for its 3rd year of losses.

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Gold closed with some losses 9 Dec, 2015

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Gold futures closed with slim losses in the native market on yesterday as bullion traders stuck to the sidelines ahead of the much anticipated two-day US Fed Reserve monetary policy meet on Dec 15-16, in which the world’s top central bank is almost certain to lift interest rates for the 1st time in almost a decade, dimming the lure for the precious metal as a store of value.

Last week’s upbeat jobs data which signaled the momentum in US labour market recovery strengthen the case for monetary tightening while most Fed officials have also release strong hints that the world’s leading central bank is all set to exit the era of zero interest rates.

Gold, a non-interest bearing asset loses sheen in a rising interest rate scenario.

Jumping in oil prices, which hit a 7-year low earlier this week dented gold’s appeal as an inflation hedge while concerns that demand from China, one of the largest bullion consumers in the world, may weaken early next year amidst a worsening low down, indicated by Tuesday’s tepid trade data, also weighed on the yellow metal. 

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Bullion metal Gold regains some losses 8 Dec, 2015

Today, Gold struggled to recover from overnight losses on estimations of a Federal Reserve rate hike next week and a robust dollar.

Spot gold was little tumbled at $1,071.52 an ounce by 0009 GMT. It fell down as much as 1.6 per-cent on Monday to strike a session low of $1,069.66.

Friday's strong U.S. nonfarm payrolls data supported widely held market views that the Fed would increase interest rates for the first time in nearly a decade later in current month.

Gold gained 2.3 per-cent last week on short-covering immediately after the data, but with the focus back on the rate rise up coming week, investors sold off the metal on yesterday.

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