Bullion Insight Report - Sep 09, 2015 : Karvy Commodities-Shanghai Metals Market

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Bullion Insight Report - Sep 09, 2015 : Karvy Commodities

Industry News 03:22:52PM Sep 09, 2015 Source:SMM

By  Paul Ploumis 09 Sep 2015  Last updated at  03:52:20 GMT

Gold: Daily Technical Recommendations

ExchangeContractS2S1PCPR1R2Recommendation
COMEXDec-15 1112.8 1116.7 1121.00 1125.0 1128.6 Trading range 1133-1113
MCXOct-15 26344 26382 26424 26480 26529 Trading range 26600-26300
Gold Hedge NCDEXSep-15 24030 24130 24224 24320 24460 Trading range 24000-24460

REVIEW:

• Gold struggled to find direction and traded in a tight band at COMEX.

• Trend at MCX also remains clueless and ended the day with mild losses of .29 %

OUTLOOK: Gold prices struggled to find direction in yesterday’s trade amidst higher equities led by a pullback in China. The disappointing trade balance data from China raised expectations of more stimulus announcements and monetary easing from the central bank supported the prices. In today’s trade markets will be watching the JOLTS job data due at 7.30PM. In the wake of recovery seen in global equities, gold prices might not be able to build strong gains we therefore recommend a range trading in gold for the day. Silver prices can however benefit from the rally in the base metals we still however recommend a range trading in silver till the clear confirmation of a reversal is seen.

Gold Price in Different Currency 

Exchange9/8/20159/7/2015Change (%)
COMEX (USD/oz)1121#N/A#N/A
London AM Fix (USD/oz)11211121-0.01%
London PM Fix (USD/oz)11211121-0.01%
London (GBP/oz)728733-0.62%
Euro (EUR/oz)100510020.26%
Switzerland (CHF/oz)110110920.82%
Canada (CAD/oz)14851489-0.26%
China(CNY/oz)715471270.37%
Mumbai (INR/10gm)2642426500-0.29%

 Silver: Technical Recommendations

ExchangeContractS2S1PCPR1R2Recommendation
COMEXDec-1514.40 14.57 14.76 14.89 15.02 Trading range 15.00-14.70
MCXDec-1534948 35285 35663 35951 36214 Trading range 36230-35150

REVIEW:

• Prices turned higher and closed at $14.8 an ounce at COMEX

• At MCX also gains were seen and prices closed higher 1.34 % at 35663

• China’s trade surplus widened to $60.2 billion last month from $43.0 billion in July, compared to estimates for a surplus of $48.2 billion. Exports slumped 5.5% from a year earlier, better than forecasts for a decline of 6.0%, while imports plunged 13.8%, far worse than expectations for a drop of 8.2%.

OUTLOOK: The prices can see some continuation of the gains in lines with the base metals pack however the markets will be focusing on the JOLTS job opening and can trade within a range for most part of the day.

Exchange9/8/20159/7/2015Change (%)
COMEX (USD/oz)14.8#N/A#N/A
London AM Fix (USD/oz)14.61454.0-98.99%
London PM Fix (USD/oz)9.69.51.23%
London (GBP/oz)13.213.01.62%
Euro (EUR/oz)14.514.22.24%
Switzerland (CHF/oz)19.519.31.12%
Canada (CAD/oz)21.021.00.00%
China(CNY/oz)94.192.51.77%
Mumbai (INR/10gm)35663351931.34%

Courtesy :Karvy Commodities


Bullion Insight Report - Sep 09, 2015 : Karvy Commodities

Industry News 03:22:52PM Sep 09, 2015 Source:SMM

By  Paul Ploumis 09 Sep 2015  Last updated at  03:52:20 GMT

Gold: Daily Technical Recommendations

ExchangeContractS2S1PCPR1R2Recommendation
COMEXDec-15 1112.8 1116.7 1121.00 1125.0 1128.6 Trading range 1133-1113
MCXOct-15 26344 26382 26424 26480 26529 Trading range 26600-26300
Gold Hedge NCDEXSep-15 24030 24130 24224 24320 24460 Trading range 24000-24460

REVIEW:

• Gold struggled to find direction and traded in a tight band at COMEX.

• Trend at MCX also remains clueless and ended the day with mild losses of .29 %

OUTLOOK: Gold prices struggled to find direction in yesterday’s trade amidst higher equities led by a pullback in China. The disappointing trade balance data from China raised expectations of more stimulus announcements and monetary easing from the central bank supported the prices. In today’s trade markets will be watching the JOLTS job data due at 7.30PM. In the wake of recovery seen in global equities, gold prices might not be able to build strong gains we therefore recommend a range trading in gold for the day. Silver prices can however benefit from the rally in the base metals we still however recommend a range trading in silver till the clear confirmation of a reversal is seen.

Gold Price in Different Currency 

Exchange9/8/20159/7/2015Change (%)
COMEX (USD/oz)1121#N/A#N/A
London AM Fix (USD/oz)11211121-0.01%
London PM Fix (USD/oz)11211121-0.01%
London (GBP/oz)728733-0.62%
Euro (EUR/oz)100510020.26%
Switzerland (CHF/oz)110110920.82%
Canada (CAD/oz)14851489-0.26%
China(CNY/oz)715471270.37%
Mumbai (INR/10gm)2642426500-0.29%

 Silver: Technical Recommendations

ExchangeContractS2S1PCPR1R2Recommendation
COMEXDec-1514.40 14.57 14.76 14.89 15.02 Trading range 15.00-14.70
MCXDec-1534948 35285 35663 35951 36214 Trading range 36230-35150

REVIEW:

• Prices turned higher and closed at $14.8 an ounce at COMEX

• At MCX also gains were seen and prices closed higher 1.34 % at 35663

• China’s trade surplus widened to $60.2 billion last month from $43.0 billion in July, compared to estimates for a surplus of $48.2 billion. Exports slumped 5.5% from a year earlier, better than forecasts for a decline of 6.0%, while imports plunged 13.8%, far worse than expectations for a drop of 8.2%.

OUTLOOK: The prices can see some continuation of the gains in lines with the base metals pack however the markets will be focusing on the JOLTS job opening and can trade within a range for most part of the day.

Exchange9/8/20159/7/2015Change (%)
COMEX (USD/oz)14.8#N/A#N/A
London AM Fix (USD/oz)14.61454.0-98.99%
London PM Fix (USD/oz)9.69.51.23%
London (GBP/oz)13.213.01.62%
Euro (EUR/oz)14.514.22.24%
Switzerland (CHF/oz)19.519.31.12%
Canada (CAD/oz)21.021.00.00%
China(CNY/oz)94.192.51.77%
Mumbai (INR/10gm)35663351931.34%

Courtesy :Karvy Commodities