27th Feb-3rd Mar, 2017 WEEKLY COMMODITY REPORT · 2017-02-25 · [email protected] MCX...
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Transcript of 27th Feb-3rd Mar, 2017 WEEKLY COMMODITY REPORT · 2017-02-25 · [email protected] MCX...
INDIAN MARKET AS ON THURSDAY
SEGMENT
CURRENT VALUE
PRE.WEEK CLOSING
% CHANGE
GOLD
29640
29358
+0.96%
SILVER
43310
42915
+1.34%
CRUDEOIL
3617
3569
+1.350%
ZINC
188.85
188.05
+0.42%
LEAD
150.40
151.30
-0.59%
ALLUMINIUM
126.05
125.60
+0.35%
COPPER
394.00
400.20
-01.55%
NICKEL
722.80
738.60
-2.14%
NATURAL GAS
184.40
191.30
-3.60%
MCX NEWS OF THIS WEEK
Gold futures continued to trade near session highs on Friday,
buoyed by a slump in the dollar, as optimism concerning
‘Trumpflation’ fades while the latest batch of U.S. economic data
had a limited impact on upside momentum in the yellow-metal.
Gold futures capitalized on continued pressure in the U.S. dollar
with the yellow-metal hitting its highest point in 3-1/2 months in the
intraday session, after the release of mixed U.S. economic data.
Crude futures reversed gains from the previous session to settle
lower on Friday, after the latest Baker Hughes U.S. oil rig count rose
by 5, topping 600 for the first time since October 2015. On the New
York Mercantile Exchange crude futures for April delivery slid 0.83%
to settle at $53.99 a barrel, while on London's Intercontinental
Exchange, Brent lost 59 cents to settle at 55.99 a barrel. Despite the
slump on Friday, crude ends the week 1.1% higher.
DATA OF THE WEEK
DATE DATA PREVIOUS FORECAST EFFECTS
Feb 23 Unemployment 238K 242K +Ve for
Claims Gold
Feb 23 Crude Oil 9.5M 3.4M -Ve for
Inventories Crude Oil
Feb 23 Natural Gas -114B -86B -Ve for
Storage Natural Gas
UPCOMING DATA
DATE DATA PREVIOUS FORECAST EFFECTS
Feb 27 Core Durable 0.5% 0.5% +Ve for
Goods Orders m/m Gold
Feb 27 Prelim GDP q/q 1.9% 2.1% -Ve for
Gold
Feb 27 CB Consumer 111.8 111.1 +Ve for
Confidence Gold
Mar 1 Crude Oil 0.6M
Inventories
Mar 2 Unemployment 244K 245K +Ve for
Claims Gold
Mar 2 Natural Gas -89B
Storage
ADVICE ON GOLD
Trend: Bullish
Recommendation: Buy above 29685
Targets: 29835/29985
ADVICE ON CRUDE OIL
Trend: Bearish
Recommendation: Sell below 3520
Targets: 3475/3430
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