MCX MORNING NEWS UPDATES @Capitalstars - 28 June 2018


Gold Prices Hover Above 6-Month Lows as Dollar Reigns Supreme -  Gold prices hovered above six-month lows Wednesday as traders continued to shun the yellow-metal despite signs of a late-day turnaround in risk sentiment as a strong dollar continued to keep a lid on the yellow metal's advance. Gold prices traded in a narrow range, struggling to move off session lows, as the dollar remained supported despite a slight reversal in intraday risk sentiment helping safe-haven currencies pare some of their losses against the greenback. The dollar's move higher was also supported by an announcement from the White House softening its stance on restricting foreign investment. U.S. President Donald Trump said he would back Congress' passage of the Foreign Investment Risk Review Modernization Act (FIRRMA), which would expand the powers of the Committee on Foreign Investment in the United States (CFIUS), helping it combat alleged theft of U.S. intellectual property by China.

Nickel spot premiums lower in Shanghai on high futures - Nickel spot premiums in the Shanghai market were lower on Wednesday June 27 from the level seen the previous day as futures rose. Some traders lowered their offers to offload their cargoes as they were bearish on future nickel prices, SMM learned. Downstream consumers, however, took a watch-and-wait stance as they had stockpiled sufficiently.

Spot zinc premiums stand firm in Shanghai - Zinc smelters in Shanghai withheld from selling spot cargoes at a lower premium as SHFE zinc reversed its downward trend on the morning of Wednesday June 27. Downstream customers also hesitated on buying as they made decisions based on their inventory level, SMM learned. The SHFE 1807 zinc contract hovered around 22,940 yuan/mt in the morning, and climbed up to a high of 23,145 yuan/mt in the afternoon, up nearly 400 yuan/mt from Tuesday.   

Oil dips but markets remain tight due to disruptions, record demand - U.S. oil prices dipped away from three-and-a-half year highs on Thursday amid high output from Russia, the United States and Saudi Arabia, although unplanned supply disruptions elsewhere and record demand stemmed a bigger decline.Oil prices have been rallying for much of 2018 on tightening market conditions due to record demand and voluntary supply cuts led by the Middle East dominated producer cartel of the Organization of the Petroleum Exporting Countries (OPEC). Unplanned supply disruptions from Canada to Libya and Venezuela have added to those cuts. Yet not all indicators point towards an ever-tightening market. Although output growth is slowing, U.S. crude production is approaching 11 million barrels per day (bpd). With Russia and Saudi Arabia at similar levels, and output expected to rise as OPEC and Russia ease their supply restrictions, there will soon be three countries pumping out 11 million barrels of crude each and every day.

Click here for Our Best Services

Free Commodity Tips 

Precious Metal Pack is one of our packages for MCX Traders. In this package, we provide Accurate Mcx Tips & Free Commodity Tips i.e. gold tips & silver tips


Equity Tips

Stock Cash Intraday Trading tips is completely based on technical analysis and charting. U can also get stock market live update news, equity intraday tips.

Free Intraday Tips

Capitalstars is a best Investment share market Advisory Company in India We provide accurate Intraday Tips, Free 


No comments:

Post a Comment