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After rising for three days, gold prices softened by Rs 30 on Tuesday to Rs 28,600 per 10 grams at the bullion market here due to fall in demand from local jewellers even as the metal strengthened overseas, helping cap a further decline. New Delhi: After rising for three days, gold prices softened by Rs 30 on Tuesday to Rs 28,600 per 10 grams at the bullion market here due to fall in demand from local jewellers even as the metal strengthened overseas, helping cap a further decline. Silver, however, gained Rs 400 to Rs 38,900 per kg due to increased offtake by industrial units and coin makers.Marketmen said easing demand from local jewellers and retailers at existing levels weighed on gold prices but a firm trend overseas capped the fall.Globally, gold rose 0.32 percent to USD 1,234.30 an ounce. Silver too traded 0.60 percent higher at USD 16.70 an ounce in Singapore. In the national capital, gold of 99.9 and 99.5 percent purity fell by Rs 30 each to Rs 28,600 and Rs 28,450 ...

Commodities, both agri and non-agri, witnessed a slump in prices this week. In the agri commodity basket, coriander suffered the most, while in the non-agri category prices of crude oil, gold, copper and nickel slipped significantly.  Crude oil prices have been in a falling territory since past few weeks as prices have declined by around 3.2 per cent since 19th April- 1st May 2017, while MCX oil prices have declined by 4.5 percent in the same time frame. Fading geo-political tension between US and Syria and US and North Korea and increasing oil inventories in the US have resulted in a drop in prices.  "We have noticed fall in all the risk assets including oil as market sentiments remains weak across the globe. Linkage international prices and domestic prices will not change any basic fundamentals, except the adaptation of price behaviour linked to markets. Oil inventories have to fall constantly, which can only happen if the summer driving season starts with a bang ...

  Gold prices fell by 0.94% on Tuesday in the physical market to Rs 28,800 per 10 gm from Rs 29,075 per 10 gm on Monday giving the Indians a chance to buy gold even after Akshay Tritiya that saw gold demand going up by 15% -30% on last Friday.  In the international market, gold prices on Tuesday were near three-week lows hit in the previous session on diminishing demand for safe-haven bullion as Asian equities rallied and the US dollar gained versus the yen. Spot gold was mostly unchanged at $1,256.77 per ounce.  The Indian rupee on Tuesday strengthened against the US dollar, tracking gains in the Asian currencies markets. The rupee opened at 64.14 a dollar and touched a high of 64.12. At 9.15am, the rupee was trading at 64.15 a dollar, up 0.15% from its Friday’s close of 64.25. On Monday, markets were closed due to World Labour Day. At around 1 pm rupee was trading at64.18 against dollar. Contact us: - +91-9913158794 Or visit:- http://www.profitstreet.in/...

Indian equity , forex, money and commodity markets will remain closed today on account of Labour Day/Maharashtra Day.The benchmark indices on Friday settled lower as investors booked profits in index heavyweights such as ITC and HDFC ahead of a long weekend, but posted their biggest weekly gain in six weeks. The S&P BSE Sensex ended at 29,918 down 111 points, while the broader Nifty50 closed at 9,304, down 38 points.  In the broder market, the S&P BSE Midcap and S&P BSE Smallcap indices outperformed to gain 0.2% and 0.6%, respectively.Asian stocks shook off a sluggish start and steadied on Monday, with Japan outperforming on upbeat earnings, while the dollar regained traction as the US government looked likely to avoid a shutdown. MSCI's broadest index of Asia-Pacific shares outside Japan was largely flat. Japan's Nikkei added 0.4%, with high-tech blue chips gaining on strong earnings.Many markets in Asia and Europe are also closed for Labour Day. ...

Akshaya Tritiya, which falls on the coming Friday, is considered an auspicious day to buy the precious metal and this year we might witness a spurt in gold demand. The waning effect of demonetisation coupled with the recent strength of the rupee has made the asset class look attractive. But before taking the decision, it is worth considering the factors that might impact gold prices in the future as a large part of this incremental purchase is likely to be from the perspective of investment rather than consumption. The return on gold investment for Indians would be a function of two broad factors – the movement of gold prices in the international market and the behaviour of Indian currency vis-a-vis the US Dollar. How did gold fare in 2016? After the stellar run in the first half of 2016, gold failed to hold on to the gains in the second half and ended the year with a point to point gains of 8 percent in prices. Volume growth was even more tepid, growing at 2 percent. ...

कल 5 फीसदी की भारी गिरावट के बाद कच्चे तेल में आज रिकवरी लौटी है और ब्रेंट का दाम करीब 1 फीसदी सुधर गया है। हालांकि बढ़त के बावजूद नायमैक्स पर क्रूड 51 डॉलर के नीचे है। दरअसल डॉलर में बढ़त और अमेरिका में कच्चे तेल का भंडार बढ़ने से इसकी कीमतों पर दबाव बढ़ गया था। फिलहाल ये 3 महीने के निचले स्तर के पास है। डॉलर में बढ़त का असर सोने पर भी दिखा है और ग्लोबल मार्केट में सोना करीब 1.5 महीने के निचले स्तर पर आ गया है। फिलहाल इसमें 1205 डॉलर के आसपास कारोबार हो रहा है। चांदी का भाव भी काफी ज्यादा टूट चुका है। दरअसल कल अमेरिका में नॉन फार्म पेरोल डाटा जारी होगा। माना जा रहा है कि अगर डाटा अच्छा रहा तो यूएस फेड इस महीने ब्याज दरें बढ़ा सकता है। घरेलू बाजार की बात करें तो एमसीएक्स पर कच्चा तेल 1.1 फीसदी की कमजोरी के साथ 3390 रुपये के नीचे आ गया है वहीं नैचुरल गैस 1.1 फीसदी की गिरावट के साथ 195 रुपये के आसपास कारोबार कर रहा है। एमसीएक्स पर सोना 0.3 फीसदी की गिरावट के साथ 28530 रुपये के करीब आ गया है जबकि चांदी 0.3 फीसदी टूटकर 41310 रुपये के आसपास कारोबार कर रही है। बेस मेटल्स की बात करे...

"The bank is open to selling its stake in the firm. We have not decided on the amount or time of the stake sale," MD, Usha Ananthasubramanian told the newspaper.  Punjab National Bank (PNB) is looking to sell 7 percent of its stake in its mortgage arm PNB Housing Finance . Two officials familiar with the development told the Economic Times that the public sector bank has received interest from some players and private equity investors.           "The bank is open to selling its stake in the firm. We have not decided on the amount or time of the stake sale," MD, Usha Ananthasubramanian told the newspaper. PNB currently holds a 39 percent stake in the housing finance company. At yesterday's closing price, 7 percent stake on PNB Housing Finance could fetch around Rs 1,200 crore. "We have had some early discussions.              There is a lot of interest as PNB Housing has a great portfolio...

It is common for commodities to drop in unison, says technical analyst Clive Maund, and in tandem with his prediction that oil will drop, he also sees gold and silver going lower. It is common for commodities to drop in unison, especially metals and oil. In my article on oil, I observed that oil looks set to drop hard soon. This was given added significance by the sharp drop in Precious Metals stocks Feb. 27, that calls time on the recent gold and silver rally that occurred this year to date. That drop in the precious metals sector, which occurred without a concomitant drop in gold and silver, was the market “tipping its hand” because stocks tend to lead the metals, so we can expect gold and silver to follow suit shortly and drop—along with oil and copper. On the 6-month chart for gold we can see that the uptrend is weakening, with it taking the form of a bearish Rising Wedge, and as it has now arrived at significant resistance near to its still falling 200-day moving average, ...

The precious metals sector is off to the races in the first six weeks of 2017, as returns in both gold and silver are beating the S&P 500. The silver market is the best performer – with nearly double the gains seen in gold. Here’s a quick look at the numbers: Silver +11% Gold +6% Copper +11% S&P 500 +4% Why are silver prices outperforming gold? Here are four reasons: 1. Silver is Both a Precious and an Industrial Metal This creates a dual demand base for the metal from both investors and from the manufacturing and industrial community. A less expensive cousin than gold, silver offers investors many of the same properties as gold including portfolio diversification and a hedge against in inflation as gold and silver typically trend in the same direction. Silver attracts nearly 50% of its demand from industrial buyers for use in electronics, autos, nanosilver applications, medical devices and solar panels. Both the electronics and solar panel industries that...