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Commodity Trading Tips

Higher gold prices to weaken jewellery demand growth

Higher gold prices and tightened credit availability are expected to weaken growth in jewellery demand by 2-4 per cent during 2018, a credit rating agency said on Monday. “The agency expects the jewellery demand growth to weaken by 2-4 per cent for CY2018 (Calendar year 2018), owing to higher gold prices and subdued financing environment. The industry continues to remain susceptible to the regulatory risks, which has affected both demand and supply,” ICRA said. However, over the medium to long…

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Gold dips as dollar holds firm ahead of U.S. Fed meet

Gold prices fell for a second straight session on Tuesday as the dollar firmed near 3-1/2-month highs, with investors awaiting direction on U.S. monetary policy from the U.S. Federal Reserve. Spot gold fell 0.2 percent to $1,312.11 per ounce at 0356 GMT. Prices hit $1,310.11 on Monday, their lowest since March 21. U.S. gold futures for June delivery eased 0.5 percent to $1,313.10 per ounce. “The recent U.S. dollar revival has negatively impact gold as the intensity of the USD…

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Oil prices dip on profit taking after last week`s rally

Crude oil futures slipped on Monday as investors cashed in some profits from last week’s rally but concerns about Saudi-Iran tensions kept losses in check. Brent crude futures  slipped 33 cents, or 0.5 percent, to settle at $70.12 a barrel. U.S. West Texas Intermediate (WTI) crude futures also lost half a percent, or 33 cents, to end at $65.55. Last week, Brent gained 6.4 percent and WTI rose 5.7 percent, the strongest weekly gains since July. “I don’t see anything…

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Gold rises on increasing U.S. protectionism concerns

Gold prices rose on Wednesday to a one-week high on a weaker dollar following U.S. Secretary of State Rex Tillerson’s sudden dismissal, which invigorated concerns of protectionist policies hampering global risk appetite. Spot gold rose 0.12 percent to $1,327.56 per ounce at 0402 GMT. It touched $1,329.22 an ounce during the session, its highest since March 7. U.S. gold futures for April delivery rose 0.09 percent to $1,328.20 per ounce. On Tuesday, President Donald Trump fired Tillerson after a series…

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MCX GOLD FUTURES UP@LEAD FUTURES UPDATE-:HIGHLIGHT INVESTMENT RESEARCH

Gold futures were up today as speculators built up fresh positions, driven by a firm trend overseas. Analysts said fresh positions built up by participants largely in sync with a firm trend overseas, as the dollar eased influenced sentiment here. At the MCX, gold futures for April 2018 contract is trading at Rs 30609 per 10 grams, up by 0.33 per cent, after opening at Rs 30526, against a previous close of Rs 30509. It touched the intra-day high of…

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Indian gold demand wanes as jewellers expect import tax cut in budget

Gold prices in India, the world’s second-biggest user of the precious metal, were at discounts as jewellers were postponing purchases on the expectation that the government will announce an import tax cut in its annual budget on Thursday. The lower import tax could boost India’s gold demand and support global prices that are currently trading near their highest in 17 months. The bullion industry has been urging a tax reduction to combat smuggling, which has increased since India raised the…

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Gold futures up as demand picks up@HighLight Investment Research

Gold prices went up in the domestic market on Tuesday as speculators created fresh positions on pick-up in demand from consuming industries at the spot markets. Market analysts attributed the rise in gold futures to fresh bets created by participants on the back of rising demand at the domestic spot market . At the MCX, gold futures for February 2018 contract is trading at Rs 28750 per 10 grams, up by 0.34 per cent, after opening at Rs 28676, against…

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MCX LIVE RATES-Silver price edge higher@Highlight Investment

Bullions rallied in today’s session. Silver broke the resistance levels of 37,700 and rallied up till 38,000 levels. Gold on the other hand broke the resistance levels of 28,530 and rallied up till 28,640 levels. Crude Oil traded sideways in a small range between 3715 and 3735 levels. Natural Gas prices bounced back in today’s session and rallied up till 170 levels. Base Metals edged higher in today’s session. Copper broke the resistance levels o f 456 and rallied up…

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Tube Inv. zooms 3% on acquisitions in bicycles division@HighLight

TI Cycles of India, a unit of Tube Investments of India Ltd., has acquired 80% stake in two Srilankan companies – M/s. Great Cycles (Pvt) Ltd and M/s. Creative Cycles (Pvt) Ltd, for a consideration of US$3.34mn and a sum equivalent to 80% of the applicable net working capital. The two acquired companies are engaged in the manufacturing of premium bicycles. The acquisition is likely to help the company in securing backend supply chain in the mass premium and super premium…

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Gold nearly unchanged as dollar holds firm@Commodity Tips

Gold prices were mostly steady on Thursday amid a firm dollar, trading within sight of a two-month low hit earlier this week. Spot gold was nearly unchanged at $1,263.21 an ounce by 0406 GMT. It marked its lowest since Oct. 6 at $1,260.71 on Tuesday. U.S. gold futures were flat at $1,265.70. The dollar inched up against its peers on Thursday, as optimism towards U.S. lawmakers making progress on tax legislation continued to grow. U.S. Senate Republicans agreed to talks…

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