Ripples Advisory News Update's

Turmeric on NCDEX settled up 0.65% at 6838 on receipt of fresh upcountry demand for the turmeric at the spot market. Though, some gains were capped on heavy arrivals from the producing regions. The turmeric arrivals in the country increase to 28,337 tons last week (20-25 February) compared to 7,300 tons during previous week. At Nizamabad market, sources reported arrivals at 13000 quintals, lower by 2000 quintals from previous trading day. At Warangal market, arrivals were reported at 200 bags, steady as against previous day’s arrival. Some traders have received fresh upcountry demand for the turmeric. At the Erode Turmeric Merchants Association Sales yard the finger turmeric sold at Rs. 5,366-9,211 a quintal, root variety sold at Rs. 5,211-7,879.

Trading Ideas: 

*Turmeric trading range for the day is 6724-6984. 

*Turmeric prices gained on receipt of fresh upcountry demand for the turmeric at the spot market. 

*The turmeric arrivals in the country increase to 28,337 tons last week (20-25 February) compared to 7,300 tons during previous week.

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Saudi oil giant Aramco is buying an equity stake in Malaysian firm Petronas' major refining and petrochemicals project in the southeast Asian country, investing a total of $7 billion, the companies confirmed on Tuesday. 

In a joint statement, the firms said Aramco will take a 50 percent stake in select ventures and assets in the Refinery and Petrochemical Integrated Development (RAPID) project developed by Malaysian state-controlled Petroliam Nasional Berhad, known as Petronas. 

The deal signing was formally witnessed by Malaysian Prime Minister Najib Razak and Saudi King Salman, currently on a state visit to Malaysia.Petronas' Chief Executive Officer Wan Zulkiflee Wan Ariffin told reporters Aramco will take a 50 % stake in RAPID's refinery and cracker project. 

Cardamom futures were trading higher during the morning trade in the domestic market on Tuesday as investors and speculators built up fresh bets in the agri-commodity amid increase in physical demand for cardamom in the domestic spot market. Further, insufficient supplies on restricted physical arrivals from the major cardamom producing regions, supported the upward trend in the domestic cardamom prices. 

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At the MCX, cardamom futures for March 2017 contract is trading at Rs 1478 per kg, up by 0.56 %, after opening at Rs 1478.90, against a previous close of Rs 1469.70. It touched the intra-day high of Rs 1483.80.

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Turmeric prices are trading steady on speculative buying by the market participants. Supplies have improved in the spot market. The demand for exports has also improved. On the export front, country has exported about 74,524 tonnes, up by 32% during April-Nov period compared to last year exports of 56,471 tonnes, as per government data.

Gold prices held steady on Friday near 3-1/2-month highs hit in the previous session amid tempered expectations of a U.S. rate hike in March and as investors awaited clarity on President Donald Trump's economic policy.

Spot gold was mostly unchanged at $1,249.37 per ounce at 0326 GMT after hitting its highest since Nov. 11, 2016 at $1,251.14 in the previous session. The metal has gained more than 1 % so far this week. U.S. gold futures were also firm at $1,250.80.   www.ripplesadvisory.com.

Spot gold may gain more to $1,278 as it has more or less broken above a resistance at $1,249, Reuters technical analyst Wang Tao said. 

 "Thursday's action showed us that gold bugs assumed that the U.S. Federal Reserve will likely stand pat in March and may not move until much later," INTL FCStone analyst Edward Meir said.