MCX Silver July contract rises

Silver prices on MCX were trading higher on Tuesday. MCX Silver July contract was trading at Rs 37208 up Rs 262, or 0.71 percent.

MCX SILVER March contract was trading at Rs 36333 up Rs 134, or 0.37 percent. The SILVER rate touched an intraday high of Rs 36412 and an intraday low of Rs 36314. So far 1204 contracts have been traded. SILVER prices have moved down Rs 9644, or 20.98 percent in the March series so far. MCX SILVER May contract was trading at Rs 36700 up Rs 144, or 0.39 percent. The SILVER rate touched an intraday high of Rs 36755 and an intraday low of Rs 36680. So far 53 contracts have been traded. SILVER prices have moved down Rs 2309, or 5.92 percent in the May series so far. MCX SILVER July contract was trading at Rs 37208 up Rs 262, or 0.71 percent. The SILVER rate touched an intraday high of Rs 37208 and an intraday low of Rs 37208. So far 1 contracts have been traded. SILVER prices have moved down Rs 1670, or 4.30 percent in the July series so far.

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Rupee gains 7 paise against dollar on increased selling

The rupee strengthened by seven paise to 62.15 against the US dollar in early trade on Monday at the Interbank Foreign Exchange on increased selling of the American currency by exporters and banks.

Forex dealers said besides selling of the US currency by exporters and banks, a higher opening in domestic stock market and the dollar's weakness against other currencies overseas, supported the rupee.

The rupee had closed with a gain of 12 paise against the US dollar at 62.22 in the previous session on Friday.

Meanwhile, the benchmark BombayStock Exchange (BSE) Sensex rose by 113.19 points, or 0.38 per cent, at 29,344.60 in early trade.  

Expect gold, silver prices to trade sideways

Gold

Spot gold prices traded lower for most of the last week with prices trading in the range of $30. Prices traded lower on signs that Greek banks will continue to get emergency funding despite a breakdown in debt talks between their government and euro zone partners. Minutes from the Federal Open Market Committee's January meeting expressed concern that raising interest rates too soon could pour cold water on the U.S. economic recovery. Policy makers also fretted over the impact of dropping "patient" from the central bank's interest rate guidance. Strengthening dollar and investors assessment about standoff over Greece bailout dragged prices further. In the international markets, spot gold prices declined by 2.22 percent last week and closed at $1201.91/oz.

On the MCX, gold prices declined by 1.55 percent last week and closed at Rs.26277/10 gms.

Silver

Last week, spot silver prices in the international markets declined in tandem with fall in gold prices. Strength in the dollar index and weakness in Nickel prices could not stop the rally in silver prices. Spot silver prices in the international markets declined by 6.13 percent and closed at $16.23/oz. On the MCX, silver prices declined by 4.95 percent and closed at Rs.36314/kg.

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SPARK FINSERVE'S NCDEX REPORT AS ON 14 JANUARY 2015

Soybean futures may trade on a mixed note on increased import duty on edible oil and poor buying support on higher prices



Yesterday, NCDEX Soybean Feb futures closed negative on weak demand at higher prices and adequate availability of soyabean in the domestic market. In India, Soymeal exports fell by 59 per cent to 1.94 lakh tonnes in December against 4.70 lakh tonnes in the same month a year ago. The export of soybean meal during December 2014 was 1, 94,012 tonnes as compared to 4, 70,799 tonnes in the same period of previous year.

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SPARK FINSERVE'S YESTERDAYS TARGETS AND PROFIT IN MCX | OPTIONS | FUTURES | CASH

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SPARK FINSERVE YESTERDAY MCX FIRST TARGET AND SINGLE LOT PERFOMANCE 

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GOLD              6000 

CRUDE OIL -3200 

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HDIL CALL 2200.00

AUROPHARMA CALL 2000.00

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YESTERDAY FUTURE PROFIT 

SAIL 3000.00

SBIN 2188.00

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HINDPETRO 2704.00

IDBI BANK 827.00

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SPARK FINSERVE'S MCX AND CASH CALL AS ON 07 JAN 2015

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 SHORT SELL GOLD AT CMP 27325-27330 TARGET 27260/27210/27165 SL 27365

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MCX Gold April contract gains

Gold prices on MCX were trading higher on Monday. MCX Gold April contract was trading at Rs 27025 up Rs 71, or 0.26 percent.

 MCX GOLD February contract was trading at Rs 26804 up Rs 74, or 0.28 percent. The GOLD rate touched an intraday high of Rs 26851 and an intraday low of Rs 26785. So far 914 contracts have been traded. GOLD prices have moved down Rs 1435, or 5.08 percent in the February series so far. MCX GOLD April contract was trading at Rs 27025 up Rs 71, or 0.26 percent. The GOLD rate touched an intraday high of Rs 27030 and an intraday low of Rs 27002. So far 11 contracts have been traded. GOLD prices have moved down Rs 2215, or 7.58 percent in the April series so far. 

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