news...

Gold:-

MCX Goldguinea August contract trades flat:-

At 14:03 hrs MCX GOLDGUINEA July contract was trading at Rs 21271 up Rs 14, or 0.07 percent. The GOLDGUINEA rate touched an intraday high of Rs 21380 and an intraday low of Rs 21250. So far 2530 contracts have been traded. GOLDGUINEA prices have moved down Rs 210, or 0.98 percent in the July series so far.

MCX GOLDGUINEA August contract was trading at Rs 21359 up Rs 16, or 0.07 percent. The GOLDGUINEA rate touched an intraday high of Rs 21450 and an intraday low of Rs 21350. So far 801 contracts have been traded. GOLDGUINEA prices have moved down Rs 347, or 1.60 percent in the August series so far.

MCX GOLDGUINEA September contract was trading at Rs 21390 up Rs 24, or 0.11 percent. The GOLDGUINEA rate touched an intraday high of Rs 21490 and an intraday low of Rs 21371. So far 126 contracts have been traded. GOLDGUINEA prices have moved up Rs 680, or 3.28 percent in the September series so far.

Silver :-

On Friday the silver rates were trading higher in major cities of India. In Chennai market, spot silver 999 prices advanced by Rs 400 at Rs 40800 per one kilogram.

Silver futures on MCX were trading lower, but spot prices gained in major metro cities in India. At 15:04 hrs MCXSilver September contract was trading at Rs 40274 down Rs 199, or 0.49 percent.

The Silver rate touched an intraday high of Rs 40740 and an intraday low of Rs 40200. So far 9317 contracts have been traded. Silver prices have moved down Rs 17045, or 29.74 percent in the September series so far.

Crude oil:-

Dani Commodities' report on Crude oil

Crude oil futures extended the rally rising to 16 month high above USD 108 a barrel in the Asia electronic session today buoyed by strong data from US and the fall in inventories. Light, sweet crude for August delivery are trading up 10 cents at USD  108.12 per barrel on the New York Mercantile Exchange. Yesterday, it settled USD 1.56, or 1.5 percent, higher at USD 108.04 a barrel. That's its highest finish since March 19, 2012. The clearest sign of the development has been a steep drop in U.S. oil inventories, down 27 million barrels in the last three weeks, after setting records earlier this year.

Natural Gas:-

'Gas pricing reforms to help produce 12 Tcf of gas'

 The natural gas pricing reforms initiated by the government will help bring to production at least 12 Trillion cubic feet or nearly four KG-D6-sized gas fields, Bank of America Merrill Lynch said in a report.

The government on June 27 approved pricing of domestic gas at an average cost of imported LNG into India and global gas hub prices from April 1, 2014 which would double the rate of USD 4.2 per million British thermal unit.

Copper :-

Green Tribunal lets Sterlite's copper plant to remain open

The National Green Tribunal (NGT) has allowed Sterlite Industries (India)'s controversial Tuticorin copper smelter to remain open and resume normal operations after the committee referred by the environmental body suggested that there was no pollution being created by the Vedanta group company, reports Anshu Sharma.

 Lead:-

MCX Lead prices witnessed a good four wave pattern but looking at the chart price is likely to witness a fifth failure which can lead the commodity to 112-113 levels in the short term.

Wave 2 retraced exactly to 61.8% of the wave 1, and the other side wave 3 already extended more than 261.8% of wave 1. Fifth failure is the possibility in lead after witnessing a breach of immediate support of 122. Lead Prices have been raking a tout resistance around 126 levels and finally breached the immediate support of 122 levels indicating strong sell is expected in the coming days.

To know more what's happening in the market contact Niva Capital Advisory or visit www.nivaca.com. PHONE NUMBER:- +91 90360 55100/200/300