Spot gold prices declined by 1.2 percent in the yesterday's trading session on the back of strength in DX coupled with mixed global market sentiments. Further, weak economic data from China added dow nside pressure on the prices. Additionally, SPDR gold trust holding continued to decline, which acted as a negative factor for the prices.
The yellow metal touched an intra-day low of $1425.84/oz and closed at $1430.05/oz in yesterday's trading session.
In the Indian markets, prices ended on negative note in the yesterday trading session taking cues from spot gold prices and closed at Rs.26854/10 gms after touching an intra-day low of Rs. 26676/10 gms on Monday. Depreciation in the Indian rupee prevented sharp fall in the prices.
Silver
Taking cues from decline in spot gold prices along with strength in Dollar Index, Spot silver prices fell by 0.9 percent in the yesterday's trading session. Further, mixed global market sentiments added downside pressure. However, favourable economic data from US cushioned sharp downside in the prices.
The white metal prices touched an intra-day low of $23.47 /oz and closed at $23.6/oz in yesterday's trade.
On the domestic front, prices increased by 0.1 percent on the back of depreciation in the Indian Rupee and closed at Rs. 45118/kg after touching an intra-day high of Rs. 45340/kg on Monday.
Outlook
In the intraday, we expect precious metals to trade on a negative note on the back of rise in stock markets may led to decline in demand for safe haven. Additionally, SPDR gold trust holding is near to 4 years low, which may keep prices under pressure. However, weakness in DX coupled with expectation of favourable economic data from euro zone may cushion sharp downside in the prices. In the Indian markets, appreciation in the Indian Rupee may add downside pressure on the prices.
Crude Oil
Nymex crude oil prices declined around 0.9 percent yesterday taking cues from mixed global market sentiments coupled with strength in the DX. Additionally, expectations of rise in the US crude oil inventories from API also exerted downside pressure on the oil prices.
However, sharp downside in the crude prices was cushioned as a result of favorable retail sales data from the US. Crude oil prices touched an intra-day low of $94.47/bbl and closed at $95.20/bbl in yesterday's trading session.
On the domestic bourses, prices gained by 0.9 percent on account of depreciation in the Indian Rupee and closed at Rs.5,237/bbl after touching an intra-day high of Rs.5246 /bbl on Monday.
API Inventories Forecast
The American Petroleum Institute (API) is scheduled to release its weekly inventories today and US crude oil inventories are expected to rise by 0.2 million barrels for the week ending on 10th May 2013. Gasoline stocks are expected to fall by 0.6 million barrels and distillate inventories are expected to shoot up by 0.5 million barrels for the same week.
Outlook
From the intra-day perspective, we expect crude oil prices to trade higher on the back of rise in risk appetite in the global market sentiments coupled with weakness in the DX. Further, favorable retail sales data from US in yesterday's trade and expectations of positive economic data from Euro Zone will also support an upside in the oil prices.
However, sharp upside in the prices will be capped on account of expectations of rise in US crude oil inventories from API. In the Indian markets, appreciation in the Rupee will prevent sharp upside in the crude oil prices.
stock tips today, stock cash tips today,free share market tips for today, free stock tip, share market tips, intraday tips, free stock tips, free trial for share market tips, free equity tips, equity tips, stock future tips, stock cash tips, hni tips, premium tips, free premium tips, share market tips for today.
For more detail and to know about our free trial services you can call us get register here@ http://www.sonictrades.com/commodity-tips-free-trial/
The yellow metal touched an intra-day low of $1425.84/oz and closed at $1430.05/oz in yesterday's trading session.
In the Indian markets, prices ended on negative note in the yesterday trading session taking cues from spot gold prices and closed at Rs.26854/10 gms after touching an intra-day low of Rs. 26676/10 gms on Monday. Depreciation in the Indian rupee prevented sharp fall in the prices.
Silver
Taking cues from decline in spot gold prices along with strength in Dollar Index, Spot silver prices fell by 0.9 percent in the yesterday's trading session. Further, mixed global market sentiments added downside pressure. However, favourable economic data from US cushioned sharp downside in the prices.
The white metal prices touched an intra-day low of $23.47 /oz and closed at $23.6/oz in yesterday's trade.
On the domestic front, prices increased by 0.1 percent on the back of depreciation in the Indian Rupee and closed at Rs. 45118/kg after touching an intra-day high of Rs. 45340/kg on Monday.
Outlook
In the intraday, we expect precious metals to trade on a negative note on the back of rise in stock markets may led to decline in demand for safe haven. Additionally, SPDR gold trust holding is near to 4 years low, which may keep prices under pressure. However, weakness in DX coupled with expectation of favourable economic data from euro zone may cushion sharp downside in the prices. In the Indian markets, appreciation in the Indian Rupee may add downside pressure on the prices.
Crude Oil
Nymex crude oil prices declined around 0.9 percent yesterday taking cues from mixed global market sentiments coupled with strength in the DX. Additionally, expectations of rise in the US crude oil inventories from API also exerted downside pressure on the oil prices.
However, sharp downside in the crude prices was cushioned as a result of favorable retail sales data from the US. Crude oil prices touched an intra-day low of $94.47/bbl and closed at $95.20/bbl in yesterday's trading session.
On the domestic bourses, prices gained by 0.9 percent on account of depreciation in the Indian Rupee and closed at Rs.5,237/bbl after touching an intra-day high of Rs.5246 /bbl on Monday.
API Inventories Forecast
The American Petroleum Institute (API) is scheduled to release its weekly inventories today and US crude oil inventories are expected to rise by 0.2 million barrels for the week ending on 10th May 2013. Gasoline stocks are expected to fall by 0.6 million barrels and distillate inventories are expected to shoot up by 0.5 million barrels for the same week.
Outlook
From the intra-day perspective, we expect crude oil prices to trade higher on the back of rise in risk appetite in the global market sentiments coupled with weakness in the DX. Further, favorable retail sales data from US in yesterday's trade and expectations of positive economic data from Euro Zone will also support an upside in the oil prices.
However, sharp upside in the prices will be capped on account of expectations of rise in US crude oil inventories from API. In the Indian markets, appreciation in the Rupee will prevent sharp upside in the crude oil prices.
stock tips today, stock cash tips today,free share market tips for today, free stock tip, share market tips, intraday tips, free stock tips, free trial for share market tips, free equity tips, equity tips, stock future tips, stock cash tips, hni tips, premium tips, free premium tips, share market tips for today.
For more detail and to know about our free trial services you can call us get register here
No comments:
Post a Comment