10 फीसदी आयात शुल्क गेहूं पर खत्म कर दिया के रूप में घरेलू कीमतों में वृद्धि:-
Thursday, 8 December 2016
10 फीसदी आयात शुल्क गेहूं पर खत्म कर दिया के रूप में घरेलू कीमतों में वृद्धि
10 फीसदी आयात शुल्क गेहूं पर खत्म कर दिया के रूप में घरेलू कीमतों में वृद्धिनई दिल्ली: सरकार ने बढ़ती घरेलू कीमतों और बफर स्टॉक में डुबकी लगाने की चिंताओं को लगातार दो सूखे वर्षों के बाद के बीच गेहूं पर 10 फीसदी आयात शुल्क खत्म कर दिया गया है।
"आयात खिड़की अभी भी कम हो रहा है, लेकिन अभी भी एक अतिरिक्त करोड़ टन कर्तव्य छूट के इस निर्णय के कारण में आ सकता है," राजीव यादव, नोबल प्राकृतिक संसाधन भारत, ट्रेडिंग कंपनी Cofco एग्री के एक सदस्य पर अनाज और तिलहन के लिए उपाध्यक्ष ने कहा ।
नारंग ने कहा कि 1 दिसंबर, 2015 को भारत के केंद्रीय पूल में गेहूं स्टॉक 27 लाख टन था।
Wednesday, 7 December 2016
Rupee opens higher & Tata Steel UK reaches
COMMODITY TIPS | RUPEE OPENS HIGHER AT 67.83 PER DOLLAR:-
The Indian rupee opened higher by 7 paise at 67.83 per dollar on Thursday versus previous close of 67.90.
Euro witnessed some strength, helped by reports that Italian government
is preparing to rescue the country’s third largest bank Monte dei
Paschi as hopes for a private aid are fading. It is widely reported that
Government may buy 2bn euros controlling stake in the bank, which has
triggered moderate decline in Italian bond yields. In this regard,
ten-year Italian bond yields fell 8 basis points to hover around 1.9%.
The Reserve Bank of India’s (RBI) reference rate as on December 07,
2016, for the dollar stood at 67.87 while for the Euro it was 85.86. The
RBI’s reference rate for the Yen stood at 59.41; reference rate for the
Great Britain Pound (GBP) stood at 72.75.
COMMODITY TIPS | Tata Steel UK reaches
Tata Steel UK reached an agreement with trade unions on a number of proposals that would structurally reduce risks and help secure a more sustainable future for its UK business. The company will next week start consultation with its employees on a proposal to close the British Steel Pension Scheme to future accrual. Employees would be offered a competitive defined contribution scheme.
The proposal on pensions and other changes in the employment terms are part of the ongoing transformation plan that the business is undertaking. As part of today’s agreement all parties will work towards making Tata Steel UK a sustainable business.
The company and trade unions have also agreed on the principle that subject to the structural de-risking and de-linking of the British Steel Pension Scheme fund from the business, Tata Steel UK will continue the existing blast furnace configuration in Port Talbot until 2021.
Further, based on achieving the necessary financial performance and cash flows as per the transformation plan of the UK business, the company will continue to invest across the UK sites to enhance the competitive position of Tata Steel UK in the European steel industry. The company has also offered an employment pact until 2021 which supports employees through future changes by investing in their skills to support further plant upgrades, automation and other digital initiatives.
Koushik Chatterjee, Group Executive Director Tata Steel and Executive Director for its European business said: “The agreement between Tata Steel UK and the unions today marks an important step forward in the journey to develop a sustainable future for our UK steel business. These are unprecedented times for the steel industry globally with multiple risks including global economic uncertainty, slow manufacturing growth and currency volatility which continues to present significant challenges to the business.
“The delivery of Tata Steel UK’s transformation plan and generation of free cash flows will be the key enabler for the future sustainability of the business and we are very encouraged by the early signs of the delivery of the plan. There is much more work to be done to make Tata Steel UK more financially sustainable, but I am confident that all stakeholders will do all they can to try to ensure that the company will be able to achieve its plan in the coming months and years. The proposed changes to future pension provision and other employment terms are necessary to de-risk the company and help achieve long-term sustainability. We are also working separately on a necessary structural solution for the British Steel Pension Scheme fund. The trade unions and the company have worked hard to reach today’s agreement and I would like to thank them for their efforts and seek their continued support in the future. We look to other stakeholders such as the UK Government to play their part in addressing the UK’s manufacturing competitiveness position especially with relation to energy prices.”
He continued: “Tata Steel UK has developed a long-term investment plan to make the business more competitive in the future. The delivery of the transformation plan in the next couple of years, combined with a structural solution for the British Steel Pension Scheme fund, is essential to provide the affordability and financial self-sufficiency for future investments and also service its financial obligation to its stakeholders.”
Tata Steel is the UK’s largest steel manufacturer. It supplies almost 50% of UK carmakers’ steel requirements, including body panels and chassis, and a range of advanced steels for the UK construction industry which help to reduce buildings’ energy use.
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Tuesday, 6 December 2016
OIL DROPS ON DOUBTS OUTPUT AND RUPEE OPENS HIGHER
OIL DROPS ON DOUBTS OUTPUT AND RUPEE OPENS HIGHER:-
SINGAPORE: Oil prices fell on Wednesday on persistent doubts a planned crude production cut led by Opec and Russia would be deep enough to end a supply overhang that has dogged markets for over two years.
International Brent crude oil futures LCOc1 were trading at $53.69 per barrel at 0131 GMT, down 24 cents, or 0.45 per cent, from their last close.
US West Texas Intermediate (WTI) crude futures CLc1 were down 19 cents, or 0.37 per cent, at 50.74 per barrel.
Oil prices shot up as much as 19 per cent after the Organization of the Petroleum Exporting Countries (Opec) and Russia last week announced they would jointly cut
production next year in an attempt to prop up markets.
However, doubts have since emerged about whether the planned cuts will be big enough to end oversupply as both Opec and Russia have since reported record production.
"With both Russia and Opec producing at record amounts, the market is scratching its head about how both blocs will manage to comply with the Vienna production cut targets. The point is valid, as the more Opec and Russia produce, the higher the starting point will be to have to cut from," said Jeffrey Halley, senior market analyst at brokerage OANDA in Singapore.
The Indian rupee gained in the early trade. It has opened higher by 11 paisa at 67.83 per dollar versus previous close 68.22.
The rupee gained considerably against the USD yesterday on account of dollar selling by exporters and custodial banks.
Euro remains steady ahead of ECB policy meeting, while Yuan continues to remain pressure, notwithstanding the recent softness in the greenback against the basket of currencies. It seems that Donald Trump’s aggressive stance against China is taking a toll on Renminbi.
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Monday, 5 December 2016
US crude settles up 11 cents at $51.79 for best close since July 2015
COMMODITY TIPS | US CRUDE SETTLES UP:-
Brent crude oil prices rose above $55 a barrel on Monday, trading at a fresh 16-month high, as optimism spread about the prospect of a tightening market after OPEC members agreed on a landmark deal to cut production last week.
Monday's gains take the rally since the OPEC agreement was struck on Wednesday to 19 percent for Brent and 16 percent for U.S. crude. Last week's 12.2 percent increase was the largest one-week rise since February 2011.
Brent crude oil futures, the global benchmark used to trade oil, soared to its highest since July 2015 to $55.33 a barrel. It last traded up 24 cents at $54.70 a barrel at 2:39 p.m. ET (1939 GMT).
(WTI) crude oil settled up 11 cents at $51.79 a barrel. It earlier rose as high as $52.42, also a high going back to July 2015.
Prices had eased slightly earlier in the session, sparking renewed buying.
"It seems that any dip is seen as a buying opportunity," said Carsten Fritsch, analyst at Commerzbank in Frankfurt.
The OPEC deal has given speculators impetus to increase bets on higher oil prices. Weekly data from the InterContinental Exchange on Monday showed investors had raised net long positions on Brent to the highest level in four weeks.
"OPEC sentiment continues to support oil markets. Speculative short positions are still at elevated levels and as more traders unwind these positions they could trigger more support for oil prices," said Hans van Cleef, senior energy economist at ABN Amro in Amsterdam.
After the Organization of the Petroleum Exporting Countries last week agreed to curb production by 1.2 million barrels per day (bpd) from January, eyes have now turned to a meeting this weekend between OPEC and non-OPEC producers to expand the deal.
Non-OPEC producers are expected to agree to add an output cut of 600,000 bpd in Vienna on Dec. 10.
"We remain skeptical that non-OPEC producers will line up to pledge their own reductions when OPEC's announcement last week already largely took responsibility for rebalancing the market," said Tim Evans, energy futures specialist with Citigroup in New York. "In our view, the rally in prices represents an economic call for more production, not more cuts."
Expect US shale production rebound next year: Expert Sunday, 4 Dec 2016 | 7:44 PM ET | 02:04
Brent crude oil prices rose above $55 a barrel on Monday, trading at a fresh 16-month high, as optimism spread about the prospect of a tightening market after OPEC members agreed on a landmark deal to cut production last week.
Monday's gains take the rally since the OPEC agreement was struck on Wednesday to 19 percent for Brent and 16 percent for U.S. crude. Last week's 12.2 percent increase was the largest one-week rise since February 2011.
Brent crude oil futures, the global benchmark used to trade oil, soared to its highest since July 2015 to $55.33 a barrel. It last traded up 24 cents at $54.70 a barrel at 2:39 p.m. ET (1939 GMT).
(WTI) crude oil settled up 11 cents at $51.79 a barrel. It earlier rose as high as $52.42, also a high going back to July 2015.
Prices had eased slightly earlier in the session, sparking renewed buying.
"It seems that any dip is seen as a buying opportunity," said Carsten Fritsch, analyst at Commerzbank in Frankfurt.
The OPEC deal has given speculators impetus to increase bets on higher oil prices. Weekly data from the InterContinental Exchange on Monday showed investors had raised net long positions on Brent to the highest level in four weeks.
"OPEC sentiment continues to support oil markets. Speculative short positions are still at elevated levels and as more traders unwind these positions they could trigger more support for oil prices," said Hans van Cleef, senior energy economist at ABN Amro in Amsterdam.
After the Organization of the Petroleum Exporting Countries last week agreed to curb production by 1.2 million barrels per day (bpd) from January, eyes have now turned to a meeting this weekend between OPEC and non-OPEC producers to expand the deal.
Non-OPEC producers are expected to agree to add an output cut of 600,000 bpd in Vienna on Dec. 10.
"We remain skeptical that non-OPEC producers will line up to pledge their own reductions when OPEC's announcement last week already largely took responsibility for rebalancing the market," said Tim Evans, energy futures specialist with Citigroup in New York. "In our view, the rally in prices represents an economic call for more production, not more cuts."
Most OPEC members will stick to deal: Strategist Friday, 2 Dec 2016 | 12:16 AM ET | 01:57
Transneft, Russia's pipeline monopoly, suggested on Monday a cut to oil output could begin in March.
Iran, which was granted an output rise as part of the OPEC deal as it recovers production curbed by sanctions, will also attend the meeting, SHANA news agency said.
However, one large uncertainty in the global supply balance is output from the United States, whose shale oil drillers proved more resilient than expected to weak oil prices.
U.S. energy firms extended their recovery in oil drilling into a seventh month last week, data from energy services firm Baker Hughes showed on Friday.
Overall, accounting for the recent rise in oil drilling, but also for cutbacks earlier this year on low prices, Goldman Sachs said "year-on-year production will decline by 620,000 barrels per day (bpd) in 2016 and increase by 55,000 bpd in 2017".
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Sunday, 4 December 2016
THIS WEEK OUTLOOK OF GOLD / SILVER / COPPER
GOLD prices rose on Friday, moving higher for the first time in four sessions despite a solid U.S. jobs report as the dollar slid, helping support demand for the precious metal.
Gold for February delivery settled up 0.82% at $1,179.00 on the Comex division of the New York Mercantile Exchange.
Prices hit lows of $1,160.00 a troy ounce on Thursday, their weakest level since February.
The Labor Department reported Friday that the U.S. economy added 178,000 jobs in November from the prior month, while the unemployment rate dropped to 4.6%, its lowest level in nine years.
Economists had forecast nonfarm payrolls rising by 175,000 last month and the unemployment rate remaining unchanged at 4.9%.
However, the report also showed that average hourly earnings fell 0.1% from October, while the annual rate of wage growth slowed to 2.5% from 2.8% in October.
The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was down 0.27% to 100.75 late Friday, helping support
The jobs report underlined the Fed's case for a rate hikes at its upcoming meeting on December 13-14, but the weak wage data clouded the outlook for further rate hikes in 2017.
Investors are currently pricing in a 100% chance of a rate hike this month, according to federal funds futures tracked Fed Rate Monitor Tool.
Investors see a 93.9% chance of a follow up rate increase in February.
Expectations of tighter monetary policy tend to weigh on gold, which struggles to compete with yield-bearing assets when borrowing costs rise.
Elsewhere in metals trading, silver
for March delivery was up 1.74% at $16.79 a troy ounce, while copper for March delivery settled at $2.63 a pound.
In the week ahead, markets will be paying close attention to speeches by Fed officials and U.S. data on non-manufacturing activity and consumer confidence going into the holiday period.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets.
Monday, December 5
The U.K. is to release data on service sector activity.
The Institute for Supply Management is to release its non-manufacturing PMI.
New York Fed President William Dudley is to speak about the macroeconomic outlook in New York.
St. Louis Fed head James Bullard is to speak at an event in Arizona.
Tuesday, December 6
The Reserve Bank of Australia is to announce its benchmark interest rate and publish a policy statement which outlines economic conditions and the factors affecting the monetary policy decision.
In the euro zone, Germany is to report on factory orders.
Canada is to produce a report on the trade balance.
The U.S. is also to release trade data, along with reports on nonfarm productivity and factory orders.
Wednesday, December 7
Australia is to release data on third quarter economic growth.
The U.K. is to release industry data on house price inflation, as well as official figures on manufacturing and industrial production.
The Bank of Canada is to announce its benchmark interest rate and release its latest policy statement.
Thursday, December 8
Both China and Australia are to release trade data.
The European Central Bank is to announce its latest monetary policy decision. The announcement is to be followed by a press conference with President Mario Draghi.
Canada is to produce reports building permits and new house price inflation.
The U.S. is to release the weekly report on jobless claims.
Friday, December 9
China is to release data on consumer and producer price inflation.
The U.S. is to round up the week with a preliminary reading on consumer sentiment for December from the University of Michigan.If you want to more information regarding the Stock cash tips, Stock tips, Nifty tips, Commodity tips, Equity tips call @8370098946 or fill form http://equityresearchlab.com/Freetrial.php please drop your number for profit calls...?
Friday, 2 December 2016
Gold, silver trade higher
GOLD, SILVER TRADE HIGHER:-
NEW
DELHI: Gold and silver were trading nearly 1 per cent higher in early
trade on Friday amid buying from jewellers, stockists and industries. On
the Multi Commodity Exchange (MCX), gold was trading 1 per cent up at
Rs 28,200 per 10 gm, while silver was trading 0.80 per cent higher at Rs
40,020 per kg.
The country's gold imports remained stable at around 100 tonnes in November despite a fall in jewellery sales due to a cash crunch post demonetisation. India imported around 97 to ..
NEW DELHI: Gold and silver were trading nearly 1 per cent higher in early trade on Friday amid buying from jewellers, stockists and industries. On the Multi Commodity Exchange (MCX), gold was trading 1 per cent up at Rs 28,200 per 10 gm, while silver was trading 0.80 per cent higher at Rs 40,020 per kg.The country's gold imports remained stable at around 100 tonnes in November despite a fall in jewellery sales due to a cash crunch post demonetisation. India imported around 97 to ..
he country's gold imports remained stable at around 100 tonnes in November despite a fall in jewellery sales due to a cash crunch post demonetisation. India imported around 97 tonnes of gold during October.
The yellow metal plunged by Rs 430 in spot market on Thursday following sustained selling by stockists amid bearish international markets.
Rohit Gadia, founder and Chief Executive Officer, CapitalVia Global Research, said, "Gold prices moved down on Thursday as the dollar again regained strength. India has launched a plan to swap nearly 86 per cent of high-value currency notes in circulation, hitting consumer demand during the peak season for weddings, where gold is a typical gift. For Friday, Rs 27,900 and 27,600 per 10 gram will act as the major support levels whereas Rs 28,500 and 28,900 levels will act as major resistance level ..
Spot prices of gold and silver in Ahmedabad closed at Rs 28,217 per 10 gram and Rs 39,845 per 1 kg on Thursday, according to the data available with NCDEX.
Meanwhile, the domestic equity market opened lower on Friday following weak global cues. The BSE Sensex was trading 252.83 points, or 0.95 per cent, down at 26,307 at 11 am (IST), while NSE's Nifty50 index was trading 83.45 points down at 8,109.
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Wednesday, 30 November 2016
Gold price hit by fresh weakness
GOLD PRICE HIT BY FRESH WEAKNESS:-
COMMODITY TIPS | now pricing in a 100% chance of a hike
Gold was coming under renewed pressure in Asian trading on Thursday with the strong dollar and an imminent interest rate rise in the US taking most of the blame.
Gold for delivery in February, the most active contract on the Comex market in New York, hit a low of $1,163.80 an ounce, levels not seen since the beginning of February this year.
With an 8% fall, November was the worst month for the metal since June 2013, gold has now trimmed its its year to date gains to 9.8%.
Higher interest rates boost the value of the dollar and makes gold less attractive as an investment because the metal is not yield-producing. Fed funds futures, a measure of expectations for Federal Reserve rate movements, are now pricing in a 100% chance of a hike when the central bank meets in two weeks' time.
The dollar measured against a basket of the currencies of major US
trading partners has surged since Donal Trump's victory in the US
presidential elections hitting 14-year highs above 100 this week.
The greenback's all-time peak of 164.7 was reached in February 1985. That coincided with a bottom in the price of gold of $284.25 an ounce.
“From an investor point of view there is little reason to hold gold,” Georgette Boele, a currency and commodity strategist at ABN Amro told Bloomberg yesterday:
“Rising inflation expectations are more than countered by the rise in U.S. Treasury yields and expectations about upcoming rate hikes by the Fed. As long as real yields rise and there are no major inflation fears, prices will go lower.”
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