Bullion Insight Report - Sep 10, 2015 : Karvy Commodities-Shanghai Metals Market

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Bullion Insight Report - Sep 10, 2015 : Karvy Commodities

Industry News 03:32:44PM Sep 10, 2015 Source:SMM

By  Paul Ploumis 10 Sep 2015  Last updated at 04:12:29 GMT

OUTLOOK: Gold prices slipped to their lowest levels after August 11 after a sharp recovery in the dollar led by the strong JOLTS openings which surged to record highs of 5.75 million in the month of July. The high reading underpinned expectations of an early rate hike by the US fed.

Gold: Daily Technical Recommendations

ExchangeContractS2S1PCPR1R2Recommendation
COMEXDec-15 1089.5 1095.5 1102.00 1113.7 1124.0 Sell at 1110-1112 TP 1093 SL 1123
MCXOct-15 25794 25920 26057 26280 26477 Sell at 26220-26230 TP 25860 SL 25400

REVIEW:

• Gold plunged to September lows amid stronger dollar and China Stimulus
• Prices at MCX slipped by 1.4 % to close at 26057 levels

OUTLOOK: Gold prices slipped to their lowest levels after August 11 after a sharp recovery in the dollar led by the strong JOLTS openings which surged to record highs of 5.75 million in the month of July. The high reading underpinned expectations of an early rate hike by the US fed. The strong gains in the equity markets across the board, after the stimulus announcements by the Chinese finance ministry put additional pressure on the bullion prices. Some recovery is can be seen in morning session after the positive CPI data from China but the broader trend remains weak and a sell on rise strategy is recommended

Gold Price in Different Currency 

Exchange9/9/20159/8/2015Change (%)
COMEX (USD/oz)11021121-1.67%
London AM Fix (USD/oz)112211210.13%
London PM Fix (USD/oz)112211210.13%
London (GBP/oz)721728-1.05%
Euro (EUR/oz)9881005-1.63%
Switzerland (CHF/oz)10781101-2.13%
Canada (CAD/oz)14591485-1.81%
China(CNY/oz)70337154-1.69%
Mumbai (INR/10gm)2605726424-1.39%

Silver: Technical Recommendations

ExchangeContractS2S1PCPR1R2Recommendation
COMEXDec-1514.39 14.48 14.58 14.75 14.91 Sell at 14.60-14.62 TP 14.25 SL 14.80
MCXDec-1534935 35108 35294 35645 35955 Sell at 35500-35550 TP 34700 SL 35860

REVIEW:

• Prices fell at COMEX fell more than 1.20% after the strong dollar put pressure on the prices.
• At MCX prices ended lower 1 % at 35294
• China consumer prices rose 0.5%, higher than the 0.4% gain seen in August and producer prices fell 5.9%, ore than the expected drop of 5.5% year-on-year.

OUTLOOK: The prices saw a knee jerk reaction after the positive opening and surrendered the gains by the close of the day to end lower by more than 1 %. The weakness is expected to continue in today’s session also we therefore recommend a sell strategy for the day.

Silver Price in Different Currency

Exchange9/9/20159/8/2015Change (%)
COMEX (USD/oz)14.614.8-1.23%
London AM Fix (USD/oz)14.81463.0-98.99%
London PM Fix (USD/oz)9.59.6-1.08%
London (GBP/oz)13.113.2-0.92%
Euro (EUR/oz)14.314.5-1.40%
Switzerland (CHF/oz)19.319.5-1.12%
Canada (CAD/oz)20.820.80.00%
China(CNY/oz)93.294.1-0.98%
Mumbai (INR/10gm)3529435663-1.03%

 

Courtesy :Karvy Commodities


Key Words:  precious metals  gold prices 

Bullion Insight Report - Sep 10, 2015 : Karvy Commodities

Industry News 03:32:44PM Sep 10, 2015 Source:SMM

By  Paul Ploumis 10 Sep 2015  Last updated at 04:12:29 GMT

OUTLOOK: Gold prices slipped to their lowest levels after August 11 after a sharp recovery in the dollar led by the strong JOLTS openings which surged to record highs of 5.75 million in the month of July. The high reading underpinned expectations of an early rate hike by the US fed.

Gold: Daily Technical Recommendations

ExchangeContractS2S1PCPR1R2Recommendation
COMEXDec-15 1089.5 1095.5 1102.00 1113.7 1124.0 Sell at 1110-1112 TP 1093 SL 1123
MCXOct-15 25794 25920 26057 26280 26477 Sell at 26220-26230 TP 25860 SL 25400

REVIEW:

• Gold plunged to September lows amid stronger dollar and China Stimulus
• Prices at MCX slipped by 1.4 % to close at 26057 levels

OUTLOOK: Gold prices slipped to their lowest levels after August 11 after a sharp recovery in the dollar led by the strong JOLTS openings which surged to record highs of 5.75 million in the month of July. The high reading underpinned expectations of an early rate hike by the US fed. The strong gains in the equity markets across the board, after the stimulus announcements by the Chinese finance ministry put additional pressure on the bullion prices. Some recovery is can be seen in morning session after the positive CPI data from China but the broader trend remains weak and a sell on rise strategy is recommended

Gold Price in Different Currency 

Exchange9/9/20159/8/2015Change (%)
COMEX (USD/oz)11021121-1.67%
London AM Fix (USD/oz)112211210.13%
London PM Fix (USD/oz)112211210.13%
London (GBP/oz)721728-1.05%
Euro (EUR/oz)9881005-1.63%
Switzerland (CHF/oz)10781101-2.13%
Canada (CAD/oz)14591485-1.81%
China(CNY/oz)70337154-1.69%
Mumbai (INR/10gm)2605726424-1.39%

Silver: Technical Recommendations

ExchangeContractS2S1PCPR1R2Recommendation
COMEXDec-1514.39 14.48 14.58 14.75 14.91 Sell at 14.60-14.62 TP 14.25 SL 14.80
MCXDec-1534935 35108 35294 35645 35955 Sell at 35500-35550 TP 34700 SL 35860

REVIEW:

• Prices fell at COMEX fell more than 1.20% after the strong dollar put pressure on the prices.
• At MCX prices ended lower 1 % at 35294
• China consumer prices rose 0.5%, higher than the 0.4% gain seen in August and producer prices fell 5.9%, ore than the expected drop of 5.5% year-on-year.

OUTLOOK: The prices saw a knee jerk reaction after the positive opening and surrendered the gains by the close of the day to end lower by more than 1 %. The weakness is expected to continue in today’s session also we therefore recommend a sell strategy for the day.

Silver Price in Different Currency

Exchange9/9/20159/8/2015Change (%)
COMEX (USD/oz)14.614.8-1.23%
London AM Fix (USD/oz)14.81463.0-98.99%
London PM Fix (USD/oz)9.59.6-1.08%
London (GBP/oz)13.113.2-0.92%
Euro (EUR/oz)14.314.5-1.40%
Switzerland (CHF/oz)19.319.5-1.12%
Canada (CAD/oz)20.820.80.00%
China(CNY/oz)93.294.1-0.98%
Mumbai (INR/10gm)3529435663-1.03%

 

Courtesy :Karvy Commodities


Key Words:  precious metals  gold prices