Oil prices settled slightly lower on Friday, the year's last trading day, but attained their biggest annual gain since 2009, after OPEC and partners agreed to cut output to reduce a supply overhang that has depressed prices for two years.
The most active COMEX gold futures contract finished 2016 up 7.1 percent as compared to the end of 2015 after strong gains on economic uncertainty earlier in the year were pared by heavy selling as the U.S. dollar rallied following the U.S. presidential election.
The most-active gold futures contract on Friday settled down $6.4 or 0.6 percent at $1,151.70 an ounce.
The most-active silver futures contract closed down 1.4 percent on Friday at $15.99 an ounce, but up 13.8 percent for the year versus last year. This is also the white metal's first annual rise in four years.
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Industrial metals on the London Metal Exchange have had one of their best years in recent history as receding worries about demand and expectations of tighter supplies fuelled a buying spree that took zinc prices to nine-year highs.
Zinc is on course to end 2016 up about 60%, tin 43 % and copper 17 %, its first annual rise since 2012.
Markets started the year on a sombre note due to weak demand growth in top consumer China and massive supply overhangs. Over the course of 2016 the mood brightened as Chinese authorities pumped money into the economy, much of it into infrastructure.
That was reinforced by optimism about growth after Donald Trump won the U.S. Presidential election in November, providing another reason for funds to jump on the bandwagon.
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Gold discounts in India widened this week as a rebound in global prices prompted buyers to postpone purchases amid a severe cash crunch, while demand across Asia remained subdued.
Spot gold rose to its highest in over two weeks on Friday on a weaker dollar and was set to end 2016 more than 9 percent higher, marking its first annual gain in four years. For the week, gold is up about 2.5 percent and is poised to register its best weekly gain since early June.
In India, the world's No.2 consumer of the metal, dealers were offering a discount of up to $4 an ounce this week over official domestic prices that include a 10 % import tax.They offered discounts of up to $2.00 last week.
In the local market, gold prices were trading around 27,600 rupees ($406.48) per 10 grams on Friday, after falling to 26,862 rupees last week, the lowest level since Feb. 2.
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COMMODITY CALL : BUY ZINC @172.2-@172.1 TGT 172.7,174.3 SL BELOW 170.7.
OPTION INDEX CALL :-BUY BANK NIFTY 18200 PE ABOVE 338 TGT 370,455 SL 270 BELOW.
PLATINUM FUTURE CALL : BUY PCJEWELLER FUTURE ABOVE 375 TGT 379 SL 370 BELOW.
HNI FUTURE CALL: BUY VEDL FUTURE ABOVE 218 TGT 218.50 219.50 SL 217 BELOW.
PREMIUM FUTURE CALL: BUY PCJEWELLER FUTURE ABOVE 380 TGT 382 385 SL 377 BELOW.
CASH CALL- BUY BHARATFIN ABOVE 610 TGT 616,625 SL 600 BELOW.
COMMODITY CALL : BUY NG @258.5-@258 TGT 260.5,264.5 SL BELOW 256.
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Silver futures rose during afternoon trade in the domestic market on Friday as investors and speculators extended their positions in the precious metal on weakness in greenback, but gains were limited on expectations of more rate hikes by the US Federal Reserve next year.
The US Fed raised US interest rates earlier in December for the first time in a year and signalled three more increases next year. Precious metals are highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets, while boosting the dollar, in which it is priced.
At the MCX, silver futures for March 2017 contract is trading at Rs 39,697 per kg, up by 0.19 %, after opening at Rs 39710, against a previous close of Rs 39621. It touched the intra-day high of Rs 39800.
Natural gas on MCX settled down -2.14% at 256.20 retreated in yesterday's session as moderating weather forecasts had traders pulling back slightly from a strong rally despite a larger-than-expected withdrawal from stockpiles. Declined in pre-New Year holiday trade had been seen but prices are still held near a two-year high after data showed that natural gas supplies in storage in the U.S. fell much more than the five-year average for this time of year. The U.S. EIA said in its weekly report that natural gas storage in the U.S. declined by a whopping 237bcf in the week ended December 23, exceeding market expectations for a drop of 222bcf.
Technically market is under long liquidation and getting support at 252.9 and below same could see a test of 249.7 level, And resistance is now likely to be seen at 261.7, a move above could see prices testing 267.3.
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Mentha oil futures were trading higher during morning trade in the domestic market on Friday as participants build up fresh bets in the agri-commodity amid uptick in physical demand for mentha oil from major consuming industries in the domestic spot market.
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Further, widening of positions by traders in the spot market was led by rise in physical demand for mentha oil from consuming industries at the domestic spot market against insufficient stocks position on restricted supplies from producing regions, supported mentha oil prices at futures trade.
At the MCX, mentha oil futures for December 2016 contract is trading at Rs 1034 per kg, up by 0.74 % after opening at Rs 1027.10, against the previous closing price of Rs 1026.40. It touched the intra-day high of Rs 1035.60.
Trading Ideas
* Menthaoil trading range for the day is 1025.1-1063.1. At the MCX, mentha oil futures for December 2016 contract is trading at Rs 1034 per kg, up by 0.74 % after opening at Rs 1027.10, against the previous closing price of Rs 1026.40. It touched the intra-day high of Rs 1035.60.
Trading Ideas
* Mentha oil spot at Sambhal closed at 1129.80 per 1kg.
Spot prices is up by Rs.4.30/-.
* Mentha oil gained amid pick-up in demand in the
domestic spot market.
* Farmers are keeping most of the stocks in their hands
and most buyers are willing to buy at these levels.
Cardamom futures fell during morning trade in the domestic market on Friday as investors and speculators remained on the sidelines in the agri-commodity amid slide in physical demand for cardamom in the domestic spot market.
Further, sufficient supplies on higher physical arrivals from the major cardamom producing regions, too influenced the downtrend in the domestic cardamom prices.
At the MCX, cardamom futures for January 2017 contract is trading at Rs 1361 per kg, down by 0.62 per cent, after opening at Rs 1365, against a previous close of Rs 1369.50. It touched the intra-day low of Rs 1358.
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Lead futures jumped over 1 per cent during morning trade in the domestic market on Friday as investors and speculators widened their bets in the industrial metal amid pick up in physical demand for lead, from battery-makers, in the domestic spot market.
Further, an upward trend in physical demand from battery-makers in the domestic spot markets, supported lead prices at futures trade.
At the MCX, lead futures for December 2016 contract is trading at Rs 134.15 per kg, up by 1.09%, after opening at Rs 133.70, against a previous close of Rs 132.70. It touched the intra-day high of Rs 134.40.
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पिछले तीन साल लगातार गिरावट के बाद सोना इस साल रिटर्न देने में कामयाब होता दिख रहा है और इस साल के दौरान इसने निवेशकों को करीब 10 फीसदी का रिटर्न दिया है। आज भी इसमें हल्की बढ़त के साथ कारोबार हो रहा है। इस हफ्ते सोने में करीब 2.5 फीसदी की तेजी आ चुकी है। कॉमैक्स पर इसमें 1160 डॉलर के पास कारोबार हो रहा है। चांदी में भी करीब 0.5 फीसदी की तेजी आई है।
अगले हफ्ते से उत्पादन में कटौती शुरू होने से कच्चे तेल में भी बढ़त पर कारोबार हो रहा है। डॉलर में आई गिरावट से बेस मेटल में भी तेजी आई है और लंदन मेटल एक्सचेंज पर कॉपर का दाम करीब 0.5 फीसदी बढ़ गया है। जिंक और एल्युमीनियम भी करीब 1 फीसदी ऊपर हैं। आज डॉलर के मुकाबले रुपये में रिकवरी आई है और 1 डॉलर की कीमत 68 रुपये के नीचे आ गई है। डॉलर में गिरावट से रुपये को सपोर्ट मिला है।
फिलहाल एमसीएक्स पर सोना 0.15 फीसदी की बढ़त के साथ 27,600 रुपये पर कारोबार कर रहा है। चांदी 0.4 फीसदी मजबूत होकर 39,770 रुपये पर कारोबार कर रही है। वहीं एमसीएक्स पर कच्चा तेल 0.25 फीसदी उछलकर 3,675 रुपये पर कारोबार कर रहा है। नैचुरल गैस 0.5 फीसदी से ज्यादा बढ़कर 257.7 रुपये पर कारोबार कर रहा है।
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बेस मेटल्स में भी बढ़त के साथ कारोबार देखने को मिल रहा है। एमसीएक्स पर एल्युमीनियम 0.6 फीसदी बढ़कर 115.2 रुपये पर कारोबार कर रहा है, जबकि कॉपर 0.3 फीसदी की तेजी के साथ 375.5 रुपये पर कारोबार कर रहा है। निकेल 0.3 फीसदी की तेजी के साथ 693.8 रुपये पर पहुंच गया है। लेड 0.9 फीसदी की मजबूती के साथ 135.1 रुपये पर कारोबार कर रहा है। जिंक 0.5 फीसदी बढ़कर 172 रुपये पर कारोबार कर रहा है।
चांदी एमसीएक्स (मार्च वायदा) : खरीदें - 39600, स्टॉपलॉस - 36300 और लक्ष्य - 40100.
कच्चा तेल एमसीएक्स (मार्च वायदा) : खरीदें - 3660, स्टॉपलॉस - 3630 और लक्ष्य - 3710.
जीरा एनसीडीईएक्स (जनवरी वायदा) : बेचें - 17600, स्टॉपलॉस - 17760 और लक्ष्य - 17300.
कपास एनसीडीईएक्स (जनवरी वायदा) : खरीदें - 950, स्टॉपलॉस - 942 और लक्ष्य - 965.
Oil was the world's best-performing asset class in 2016, after being the worst in each of the two previous years.
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Brent crude was on track for a gain of around50%, following a 35% tumble in 2015.
Copper was up around 16 % in 2016, compared with the previous year's 26 % plunge.
In China, an infrastructure and housing boom sparked a months' long rally in materials prices, with iron ore futures surging 170 % and coking coal more than doubling.
The dollar index gained about 4 % this year, or less than half of its 9.3 % advance in 2015.MSCI frontier stocks were down about 2 %, compared with a 7 % gain for MSCI developed equities. Shanghai A shares, which rose 4.4 % in 2015, about dropped 18 % in 2016.
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Gold was set to rise more than 9 % in 2016, its first annual gain in four years, edging higher in the final trading session of the year on Friday on the back of a weaker dollar.
Spot gold was up 0.1% at $1,159.36 an ounce by 0325 GMT, having earlier hit a more than two-week high of $1,163.14 an ounce. The metal rose over one percent in the previous session, its biggest daily percentage gain since late September. U.S. gold futures rose 0.2 % to $1,160.3 per ounce.
Gold has added more than 9 % so far this year despite a steep fall in November, following three successive years of losses."Gold made robust gains as demand surged during the periods of economic and political uncertainty until the third quarter," said Mihir Kapadia, CEO of London-based Sun Global Investments Ltd.
अमेरिका में क्रूड स्टॉक बढ़ने के बावजूद क्रूड के दाम में तेजी आई है। फिलहाल ब्रेंट क्रूड 57 डॉलर के बेहद करीब कारोबार कर रहा है। नायमैक्स पर डब्ल्यूटीआई क्रूड 0.3 फीसदी उछलकर 54 डॉलर पर पहुंच गया है।
वहीं, अंतर्राष्ट्रीय बाजार में साल के आखिरी ट्रेडिंग हफ्ते में डॉलर गिरने से सोना भी चढ़ा है। फिलहाल कॉमैक्स पर सोना करीब 0.25 फीसदी की तेजी के साथ 1160 डॉलर के करीब पहुंच गया है। कॉमैक्स पर चांदी का भाव 16.25 डॉलर पर पहुंच गया है।
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सोना एमसीएक्स (फरवरी वायदा) : खरीदें - 27400, स्टॉपलॉस - 27200 और लक्ष्य - 27650.
कच्चा तेल एमसीएक्स (जनवरी वायदा) : खरीदें - 3650, स्टॉपलॉस - 3580 और लक्ष्य - 3750.
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The supply of coal to the power sector by state-owned CIL saw a fall of 6 per cent at 33.7 million tonnes last month, even as the government claimed in October that the demand for fossil fuel has started picking up. The dispatch of dry fuel by Coal India Ltd (CIL) to the power sector in November last year stood at 35.9 million tonnes (MT), according to government data said.
The supply of coal by CIL in April-November period of the ongoing fiscal also dropped by 4 % to 250.7 MT, over 261.4 MT in the corresponding quarter last fiscal. The supply of coal by Singareni Collieries Company (SCCL) during the April-November period was almost flat at 31.3 MT against 31.1 MT in the year-ago period. SCCL is a government coal mining company jointly owned by Telangana and the Centre on a 51:49 equity basis.
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The government, in October, had said that there were no plans to cut down coal production as the demand had already picked up. In October, the demand started picking up for both coal and power sectors, it had said. CIL, which accounts for over 80 per cent of the domestic coal production, is eyeing 598 MT production in 2016-17. CIL has a target to produce 1 billion tonnes of fossil fuel by 2020.
Soyabean on NCDEX settled up by 0.6% at 3033 on account of good crushing demand from the mills, even though improving supplies in the domestic market capped some gains. However expectation of higher supply in global market and weak meal demand from poultry limited the upside.
It maintained soybean acreage at 19.6 million tons for 2016-17. In addition to that, according to Safras, Brazil's soybean planting is 97% completed compared to 95.5% a year ago.
For 2016-17, USDA has estimated world soyabean production at 338 million tonnes (mt) with 65 per cent of it coming from Brazil and the US. Global consumption is estimated at 330 mt leaving the year-ending stock at 82.85 mt, 7.3% higher than last year.
At the Indore spot market in top producer MP, soybean gained 9 rupee to 3043 rupee per 100 kgs.Technically now Soyabean is getting support at 3019 and below same could see a test of 3006 level, And resistance is now likely to be seen at 3044, a move above could see prices testing 3056.
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Nickel futures fell during evening trade in the domestic market on Thursday as investors and speculators exited their bets in the industrial metal to book profits amid subdued demand and concerns about demand growth in the world's top commodities market lingered. Also, participants indulged in speeding up book-squaring ahead of year-end holidays.
At the MCX, nickel futures for December 2016 contract is trading at Rs 685.70 per kg, down by 0.19 per cent, after opening at Rs 690, against a previous close of Rs 687. It touched the intra-day low of Rs 684.
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