MCX - WEEKLY NEWS LETTERS
✍ Precious Metals
Gold was a good under performer on Friday with the recording another slide backed by rising USD while weaker economic data from China lately raised worries over further demand drop for world’s largest buyer.
Gold Comex Dec slipped 0.5% to $1239 an ounce while MCX October expiry fell 0.7% to Rs 26985/10 Gms
Silver saw good drop a couple weeks ago with Comex and MCX marketplaces saw a drop over 1.5% and over 2% respectively. Higher drop regionally was on account of lower spot requirement and Rupee admiration. Sluggish requirement in Native indian also lead into under performance in Oct agreement as associated to far month.
Herein we should look at significant factors which could keep perform negative on gold. European tumbled to levels a couple weeks ago after ECB reduced interest rate by 0.1% across the board as rising prices and growth stayed a issue. Money on the other part has been building up, enhanced by drop in European and also led by mostly company US economic information. Increasing USD has larger part to perform in recent drop in gold wherein both usually usually move inverse. Investment requirement in Silver has been displaying no enhancement. SPDR Silver having which declined nearly 40% in 2013 once again are re coding ongoing drop which current studying near 790 MT.
International value marketplaces on the other part keep outshine, making gold to trade down whereas we are not seeing any significant issues associated with geopolitical part lately. Last 7 days, we saw mostly better information from US though Monthly Tasks numbers frustrated. However despite the bad studying, wider marketplaces expect this might be just a one-off event and not a pattern thus we feel stress on gold to proceed. Supported by these factors over wider positive outlook in the US economic system, continually rising value marketplaces and also looking at the increasing US Money, we maintain our bearish position on the product and look to sell the same on pullbacks next 7 days.


✍ BASE METALS
All Base Metal trading down and on Friday too we saw its extended impact. We discuss birdwatcher it advancing for a third weekly fall due to symptoms that china’s financial system is likely to weaken further. We have to be actually careful nowadays about each especially when we have the commercial manufacturing variety from major consumers of steel on the globe. Therefore, movements is very much likely nowadays. Since, the latest pattern have been bearish, we wish to maintain the same position with the exception of a few like dime.
Economic data: Chinese suppliers launched its cash provide variety which has declined a tad especially the M1 and M2 cash. This indicates poor circulation of resources in the financial system, forcing soon a stimulus package. Japan: Industrial manufacturing, Germany: General price index, Euro-zone: Industrial manufacturing and the career information. India: CPI, likely to slowly down a bit and the IIP variety. US: retail sales, transfer cost catalog and the company stocks.
Copper advancing for a third weekly fall and exchanged near a 12-week low among symptoms that China’s economic system is decline before commercial outcome information from the greatest customer of platform materials. Chinese suppliers is prediction to report commercial manufacturing in Aug increased by 8.8 %, according to the average calculate in a Bloomberg Information study. That would be down from 9 % in This summer and the second 30 days of reducing development. Consumer rising prices reduced to a four-month low in Aug and factory-gate costs prolonged their decrease to 30 several weeks, information launched last night show. Birdwatcher for distribution in three several weeks on the LME was little. For nowadays, we keep a bearish perspective on copper and suggest promoting from greater stages.
We saw another day of decrease which resolved at $18370 down by more than $165 from its past close. Good news is very much obvious now that Filipino may not recommend to ban its ore exports and that was enough to carry down the dime costs intensely by more than 7 % in just two working classes. However, if we look at the price situation and the old tale of provide hardness possibly the steel may soon recovery greater. Therefore, for nowadays we are not indicating for a clean promoting while purchasing from 'abnormal' amounts is recommended. News: While dime led falls in base metals yesterday as issue over Filipino ore trade ban receded, the market still shifting into important lack in near phrase, ANZ says in e-mailed review. The concentrate on the Malaysia seems little short-sighted, with the market experiencing much larger issues around Indonesian trade ban.


✍ ENERGY
Crude oil price in the US innovative from month lows on Friday , getting over a % as per the ending rate though Brent oil ongoing to stay under stress for most aspect of the period.WTI Oct agreement at NYMEX slid to $90.40 per barrel mark however handled powerful restoration from there to close higher by 1.3% to $92.80 per gun barrel.While there were no significant hints regarding oil, MCX Raw too followed fit while was an under performer last night adding just 0.8% to Rs 5633 per gun barrel.
As per the newest improvements, Oriental value marketplaces are trading sluggish publish the combined to sluggish Chinese suppliers loaning information which surged more than 80% on a MoM evaluation however still stood marginally reduced than objectives. Already we have seen Chinese PPI and CPI variety last night wherein both figures disappointed heavily and also one of the factors behind stress on industrial products lately such as oil.
Looking at the oil costs, last night we saw US oil moving smartly from levels which was with better amounts which increase by near 27% at NYMEX however OI figures are unavailable to us right now. While we examine the same figures for MCX crude,data indicates Vol improved by 13% though OI dropped by a identical rate and thus illustrating towards a probably short-covering publish the huge fall in costs in last few times. With Brent oil ongoing to trade on a sluggish observe, financial information from Chinese suppliers and EU remaining subdued, we think wide stress on oil costs would proceed.


NCDEX - WEEKLY NEWS LETTERS
✍ CHANA
Chana Oct futures trading on a Negative note on Friday on enhanced in rain conditions, relaxed provides in the actual marketplaces and enhanced kharif impulses and settled 0.42% lower. However, lower demand and joyful purchasing cushioning the downside.
Prices have dropped over the last few several weeks on gradual requirement in the actual marketplaces along with history chana outcome in 2013-14.
According to the Secretary of state for Farming, planting of kharif impulses as on 4th Sept appears at 9.72 mn ha as against 10.37 mn ha last season. Sowing of Tur, Urad and Moong as on Twenty-first Aug appears at 3.48 mn ha, 2.42 mn ha and 2.03 mn ha respectively.
CCEA improved the MSP of tur and urad by Rs.50 to Rs.4,350 each, while the MSP of moong was improved by Rs.100 to Rs.4,600/qtl.
The 4th Enhance Reports placed complete impulses outcome for 2013-14 at 19.27 mn tn, up from 18.34 mn tn previously. There was a wait in the growing of the chana plants along with some plants harm in Madhya Pradesh, Rajasthan, Maharashtra and Andhra Pradesh.
As per the Secretary of state for Farming, place under Rabi Pulses 2013-14 was standing at 161.9 lakh ha as against 152.65 lakh ha last season. Chana planting was standing at 10.21 mn ha in comparison to 9.51 mn ha during the same interval last season.
Provides of Chana since past one season has been adequate as the country gained fender Chana outcome in 2012-13 season. For 2013-14 too, the govt in their 4th advance reports has estimated record outcome of at 9.88 mn loads in the Rabi season.
Chana would however, continue to maintain the tag of biggest created beat plants in Native indian having a lion’s discuss of 48-50 percent in total Native indian Impulses manufacturing.
According to Native indian Impulses and Grain Organization, Apr-Dec’13 was standing at transfer 2.4 mn tn vs 2.8 mn tn last season. In value terms, Native indian brought in $2.3 billion dollars of pulses in 2012-13, almost 28% greater over $1.85 billion dollars in the previous season. However, imports in 2013-14 season may decrease 11% to 3.2 mn tn on objectives of greater outcome.
According to APEDA, Impulses exports (kabuli chana) between Apr-Feb ’14 increased 228% to 517,095 tn as against 157,799 tn between Apr-Feb ’13.

For Quick Trial – 8962000225 ✔
✆ - 0731-6554125
Mail us here: [email protected]
or visit http://www.ways2capital.com/