Commodity market outlook
- By Advisorymandi |
- Jan 19, 2017
- Last Updated at 11:10 IST
Gold prices eased
Gold eased yesterday following recent spurt as profit selling took a toll on the metal. The commodity dropped after the Federal Reserve Chair Janet Yellen comments on interests rates to rise 'a few times a year' until end of 2019. The Fed hiked interest rates in December for only the second time in a decade. Gold also eyed generally upbeat US economic cues. Economic growth continued at modest pace . COMEX Gold is trading down 0.83% at $1202 per ounce
MCX GOLD FEB FUT trading at 28625 down 166 points(-0.58%)
MCX Silver March FUT trading at 41492 down 505 points (-1.20%)
Oil prices fall in spite of Bullish OPEC Data.
OPEC, in its latest monthly oil market report, raised its forecast for global crude oil demand to 95.60 million barrels daily, up by 1.16 million bpd from the estimated 2016 average of 94.44 million barrels daily. This is a slight upward revision from the previous 1.15 million bpd estimated for global daily oil demand this year.
MCX Crude Jan FUT Trading at 3582 up 12 points (0.31%)
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OPINION POLL
Will Nifty able to test 11,700 level in August series ?
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