MCX COMMODITY MARKET NEWS UPDATES - 10 OCT 2017

Gold Prices Gain In Asia On Demand From India, China - Gold prices gained in Asia on Tuesday with physical demand from India during the festival season and the other top importer China as markets gear up after a week-long holiday last week. Overnight, gold prices rose on Monday supported by a dip in the dollar as an uptick in geopolitical uncertainty increased demand for safe-haven gold but growing expectations that the Federal Reserve will hikes rates for the third time this year capped gains. Gold made a strong start to the week amid renewed geopolitical uncertainty as President Donald Trump’s tweets over the weekend, sparked fears that the president is leaning toward military action against North Korea. President Trump said the United States has been “unsuccessfully dealing” with North Korea for 25 years, insisting that “only one thing will work” to curb the isolated nation’s efforts to further develop nuclear weapons. Analysts have been quick to downplay the strong gains in gold prices, insisting that the outlook for the precious metal remains bearish amid expectations that a higher interest rate environment will curb demand for non-yielding bullion.

SHFE Base Metals Surge upon Reopening, with SHFE Zinc Refreshing 10-year High -  December Comex High Grade Copper has clawed back to unchanged after an early session setback. The selling was in response to Friday’s closing price reversal top. The chart pattern was confirmed after sellers took out Friday’s low at $3.0180. The main trend is up according to the daily swing chart, however, momentum shifted to the downside with the formation of the closing price reversal chart pattern. The subsequent follow-through selling on Monday confirmed the chart pattern. The confirmation of the chart pattern doesn’t mean the trend is changing to down, but it could lead to a short-term retracement.

Oil prices stable as OPEC says market is rebalancing - Oil prices were steady on Tuesday as OPEC said there were clear signs the market was rebalancing and as U.S. production remained offline following Hurricane Nate.Traders said prices were supported as the Organization of the Petroleum Exporting Countries (OPEC) said oil markets were rebalancing fast after years of oversupply. "There is clear evidence that the market is rebalancing," OPEC's secretary general Mohammad Barkindo told Reuters on Monday. "The process of global destocking continues, both onshore and offshore, with positive developments in recent months showing not only a quickening of the process but a massive drainage of oil tanks across all regions," he said. OPEC has led an effort to cut output to end years of overproduction that created a huge supply overhang. Tighter market conditions are reflected in the shape of the Brent crude forward curve, which has flipped from contango - when future deliveries are priced higher than those for immediate sale - into backwardation, when it is more profitable to sell oil promptly than storing it for sale later.

sebi registered advisory company , Free Trading Tips  ,  Equity tips , MCX Tips  , Capitalstars , Intraday Stock  tips , Capitalstars pricing

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647