Tuesday, September 7, 2010
Posted by janvi on September 3, 2010
Total Views - 30PUNJLLOYD
BUY @ CMP 108.85
SL 106.50
TARGET 112-114
Bhushan Steel Ltd.
Buy above 1870 (CMP : 1860.30)
Target : 1898-1920
Stoploss : 1852
Buy HSIL
SL 132
TARGET 148-152
Thinksoft Global Services Ltd
Buy @ 124 (CMP : 126.30)
Target : 130-136
Stoploss : 122
Posted by dimpyarora on August 31, 2010
Total Views - 33The copper prices witnessed renewed interest of investors on the first trading day of the new week after various central banks signaled that they would continue to vouch for better economic growth. The red metal prices continued to gather momentum through the day inspite of the fact that the US stock markets fell and the greenback rose. The optimistic investor sentiments spurred short covering of the metal that impelled prices through technical resistance.
Copper futures for September delivery gained 1.49% to reach $ 3.41 per lb, after trading in the range of $3.37 to $3.43, on the Comex metals division of the New York Mercantile Exchange. Copper for three-months delivery on the London Metal Exchange closed after adding $154.5 at $7,459 per tonne.
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Posted by dimpyarora on August 23, 2010
Total Views - 51FREE COMMODITY TIPS :: click here
Copper moved higher for the first time in three days on signs China’s demand is improving as domestic stockpiles shrink. Refined copper imports by China, the largest consumer, gained for the first time in four months in July as traders profited from disparities between prices in London and Shanghai.
Copper for three-month delivery on the London Metal Exchange rose as much as 0.6 percent to $7,295 a metric ton, before trading at $7,276.
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Posted by dimpyarora on August 12, 2010
Total Views - 36courtesy:- http://www.mcx-commodity-tips.blogspot.com
Volume on the commodity exchanges spiked up by 63% in second half of July. Total turnover on the local commodity bourses during the July 16-31 period stood at Rs 5,01,046 crore against Rs 3,07,829 crore in the year ago period, as per the latest data from the Forward Markets Commission (FMC). Rise in volume can be attributed to heightened activity in metals and bullion.
During the period under consideration, total turnover in metal (excluding bullion) and bullion increased by 61% and 123% compared to the same period of the last year to Rs 116,060 crore and Rs 202,110 crore, respectively.
Similarly, volume in agri-commodity segment grew by 42% to Rs 76,496 crore during the fortnight from Rs 54,019 crore for July 16-31 period of 2009.
With this, the total turnover on the commodity bourses in the current fiscal till July 31 have gone up by 59% to Rs 33,72,249 crore from Rs 21,23,637 crore for the same period of the previous fiscal.
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Posted by dimpyarora on
Total Views - 65courtesy:- http://www.mcx-commodity-tips.blogspot.com
U.S. gold futures ended slightly higher on Wednesday, erasing initial gains as equity market losses deepened, and as the dollar soared against major currencies on sharply lower risk appetite.
- The world’s largest gold-backed exchangetraded fund, SPDR Gold Trust, said its holdings rose to 1,285.787 tonnes by Aug. 11 from 1,282.746 tonnes on Aug. 5.
- The world’s largest silver-backed exchange-traded fund, the iShares Silver Trust, said its holdings stood at 9151.03 tonnes as of August 11, unchanged from the previous business day.
- Canadian gold miner Aura Minerals Inc’s second-quarter loss widened, hit by heavy rains at its San Andres mine in Honduras, and the company cut its full-year gold production outlook. The company cut its gold production outlook to 157,000- 167,000 ounces, from its previous view of 185,000-195,000 ounces due to bad weather in Honduras.
- Yukon Nevada Gold Corp reached steady state production. The Plant operated during July and produced gold pro-rated at 100,000 ounces per year on an annualized basis.
Precious metals prices are trading marginally up on COMEX. We have unemployment claims data to be released later in the evening today. Any positive surprise may support the dollar that may further cap the upside in the prices of precious metals today.
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Posted by dimpyarora on August 11, 2010
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Spot Gold prices gained in Tuesday’s trading session despite strength in the US Dollar Index (DX). The yellow metal prices rose after the US Federal Reserve said that it would buy more US government debt. The US Federal Reserve left its benchmark interest rate at 0-0.25% and said that it would keep rates low foran exceptionally long period.
We expect gold prices to trade with a positive bias today as uncertainty over the global economic growth front will lead to increased demand for the yellow metal. US economic growth continues to remain weak and economic data from China alsosuggests a slowdown. Hence, worries over economic growth will boost demand for gold.
Gold prices will take cues from the economic data and movement in the DX may not be the only factor which will influence prices. If economic data continues to remain weak then worries over growth could spur demand for gold as a safe-haven. Inflation expectation is another factor which will provide further cues to prices.
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Posted by dimpyarora on August 10, 2010
Total Views - 35FREE COMMODITY TIPS :: click here
MARKET RECAP
Spot Gold prices declined, albeit marginally on Monday to close at 1201/oz. The yellow metal prices touched an intra-day high of $1209/oz, but later pared gains mainly because of the strength in the US dollar index (DX). The DX-a gauge against a basket of currencies gained on Monday ahead of the crucial FOMC meeting which is scheduled later in the night today. The meeting will also decide the interest rates of the Federal Reserve. Markets are expecting the interest rates to remain unchanged at Click Here To Read Full Article »
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