MCX NATURAL GAS

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 U.S. natural gas slides to 3-month lows amid lack of cold weather

U.S. natural gas futures fell sharply, hitting the lowest level since November as forecasts continued to call for mostly warmer-than-normal weather in key regions across the U.S. for the rest of the winter. Trading activity was light as markets in the U.S. remained closed for President’s Day. Prices of the heating fuel sank 7% last week, taking its losses for the year to almost 24%, as forecasts for warm winter weather weighed on heating demand expectations. Based on data from the National Oceanographic and Atmospheric Administration, this year’s extremely warm winter has pushed heating demand for natural gas to nearly 20% below average. Meanwhile, market participants looked ahead to weekly storage data due on Thursday, which is expected to show a draw in a range between 86 and 97 billion cubic feet in the week ended February 17. That compares with a withdrawal of 114 billion cubic feet in the preceding week, 117 billion a year earlier and a five-year average drop of 158 billion cubic feet. Total natural gas in storage currently stands at 2.445 trillion cubic feet, according to the U.S. Energy Information Administration, 12.4% lower than levels at this time a year ago and 3.5% above the five-year average for this time of the year. Without significant demand for natural gas, inventories could stay near record levels and may even continue to pull prices even lower.

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MCX GOLD NEWS UPDATE

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 Gold marginally down at MCX in quiet trade as U.S. holiday mutes action

Gold prices ended marginally lower at MCX, with investors hesitant to take strong positions due to the U.S. national holiday for President’s Day. Trading activity was light as markets in the U.S. remained closed for President’s Day on Monday. Market players also awaited further hints on the timing of the next U.S. rate hike. In the week ahead, global financial markets will focus on minutes of the Federal Reserve’s latest policy meeting as well as housing-related data for more clues on the timing of the next U.S. rate hike. There are also more than a few Fed speakers this week, including Minneapolis Fed President Neel Kashkari, Philadelphia Fed President Patrick Harker and Atlanta Fed President Dennis Lockhart. Fed Chair Janet Yellen said last week that the U.S. central bank will likely need to raise interest rates at an upcoming meeting, although she flagged considerable uncertainty over economic policy under the Donald Trump administration. Fed fund futures priced in a less than 15% chance of a rate hike in March, according to Fed Rate Monitor Tool. Headlines from Washington will most likely remain in focus in the week ahead, as traders await further details on President Donald Trump's promises of tax reform, deregulation and infrastructure spending.

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MCX BASE METAL & ENERGY

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 Copper, zinc and nickel rebound on supply concerns

The price of copper bounced back above $6,000 a tonne as a dispute affecting production at the world's second-biggest copper mine worsened, while zinc was boosted by a drop in inventories. Supply issues dominated the base metals market, with nickel also gaining ground to reach a two-month high as the market tracked the latest plans by the Philippines to close mines on environmental grounds. Further tightening supplies is a strike at Chile's Escondida copper mine, the world's biggest, which has extended into a second week. Both Grasberg and Escondida declared force majeure last week. Representatives of Escondida, controlled by BHP Billiton, plan to attend talks with striking workers on Monday as long as the union does not interfere with a shift change for non-union employees. Zinc has gained 10 percent this year on concerns that the closure and suspensions of big mines will create shortages. Nickel extended recent gains as the Philippines' environment minister said on Monday that she stands by her decision to shut more than half the country's operating mines ahead of a meeting to review the move.

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Weekly Report MCX Metals & Energy

Gold prices fell on Friday as the stronger dollar outweighed concerns about uncertainty surrounding U.S. policy and upcoming elections in Europe. The precious metal still notched up a weekly gain of 0.35% as uncertainty over the policies of U.S. President Donald Trump spurred safe haven demand for bullion. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.44% to 100.89 late Friday, reversing Thursday’s 0.72% drop and leaving it up 0.16% for the week Elsewhere in precious metals trading, silver was at $17.97 a troy ounce late Friday, and ended the week with gains of 0.25%. Data on Wednesday showed that U.S. consumer price inflation jumped 0.6% in January, the biggest increase in almost four years. Another report showed that U.S. retail sales also outstripped expectations, increasing 0.4% last month. The upbeat data came a day after Federal Reserve Chair Janet Yellen said in testimony to the U.S. Senate that the bank is on course to raise interest rates at one of its forthcoming meetings. Oil futures added a few pennies on Friday, but posted their first weekly decline in five weeks as concerns over rising production and swelling stockpiles in the U.S. offset efforts by major producers to cut enough output to reduce a global glut. For the week, New York-traded oil futures slumped 46 cents, or nearly snapping a four-week winning streak. Meanwhile, the U.S. Energy Information Administration said on Wednesday that crude supplies rose by 9.5 million barrels last week to an all-time high of 518.0 million barrels. OPEC and non-OPEC countries have made a strong start to lowering their oil output. Latest data showed the group’s production in January declined by 890,000 barrels a day from the previous month to 32.14 million barrels a day. The drop indicates a 90% compliance level so far. Natural Gas sank 2.0 cents, or almost 0.7%, to a three-month low of $2.834 per million British thermal units. It posted a weekly loss of around 7%. Copper was down 0.39% at $2.708 a pound and ended the week down 2.55% amid profit taking, but prices looked set to remain supported amid concerns over supply disruptions. A strike at BHP Billiton Escondida in Chile, the world's largest copper mine, has boosted sentiment as has an output halt at Freeport-McMoRan's giant Grasberg mine in Indonesia. In the holiday shortened week ahead, the Fed is to publish the minutes of its February meeting on Wednesday, which will be scrutinized for clues on the timing of the next rate hike. Investors will be looking to U.S. housing data in order to see whether the rise in consumer spending and inflation is translating into higher house prices and a pick-up in home sales. Markets will also be watching survey data on private sector activity in the euro zone on Tuesday.

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MCX HNI Crude Oil Update

MCX Crude Oil future were trading higher during afternoon trade in the domestic market on monday as investor and speculators widening their position in the energy commodity amid optimism on efforts by OPEC and other producers to cut output and bring the market into balance.

However, gains were limited as investors gauged whether an increase in the US drilling rings and record stockpiles would undermine efforts by OPEC. Last year, OPEC and other Producers, including Russia, agreed to cut output by almost 1.8 Million barrels per day ( bpd) during the first half of 2017.

At the MCX, Crude oil future for March 2017 contract is trading at Rs. 3625 per barrel, up by 0.58 per cent, after opening at Rs. 3611, against a previous close of Rs. 3604, IT touched the intraday high of Rs. 3628.

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MCX CRUDE OIL WEEKLY LEVELS & DAILY TREND

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Trading Range	3720-3440
Short Term Trend	BULLISH
Long Term Trend	BULLISH
Resistance 3	3865
Resistance 2	3752
Resistance 1	3680
Pivot point	3568
Support 1	3497
Support 2	3384
Support 3	3313

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MCX Crude Oil Intraday Trend

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 Oil eased on concerns over US crude supply

Oil futures eased back Friday, caught between larger-than-expected growth in US crude stocks and reports that OPEC members may exercise an option to extend a pact to cut production by six-months. Many factors are driving oil prices right now, including whether or not OPEC production cuts will be extended past June and the US’s “ability to ramp up shale production to mitigate the impact of the production cuts. Oil traders are also looking at lower demand for U.S. gasoline, amid high supplies of the fuel, and weighing developments in the global economy. The cartel OPEC, along with other key producers including Russia, agreed last year to cut around 1.8 million barrels a day of oil output starting in January. The six-month deal sent prices around 20% higher, which has provided incentive for producers outside of the pact, including in the U.S., to increase their output. On Thursday, Reuters reported that OPEC sources said the cartel could extend the six-month deal to cut supply, or make more severe cuts, if oil stocks don’t drop by around 300 million barrels to the five-year average. According to OPEC’s latest oil report, commercial oil stocks of the OECD countries fell by 33.8 million barrels in December for the fifth consecutive month, but at 2.9 billion barrels, it is still around 299 million barrels above the latest five-year average.

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MCX Gold News Update

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 Gold steadied on weaker dollar, registered third weekly gains 

Gold held steady on Friday as the dollar hovered near one-week lows, keeping the metal on track for a third week of gains amid political uncertainties in the United States and Europe. A gauge of major world equity markets inched to a record for a second straight day on Thursday, but took a breather on Friday. Although the strong likelihood of the Fed raising U.S. interest rates this year may pressure gold in the longer term, it will be the cocktail of events in Europe, Brexit woes and the Trump saga that may ensure gold remains buoyed in the short term. Holdings of SPDR Gold, the world's largest gold-backed exchange-traded fund, have risen 5.6 percent so far this month, the most since June 2016. Fed Chairwoman Janet Yellen spent two days this week testifying on Capitol Hill. She said on Tuesday that the Fed has penciled in three interest-rate hikes this year and on Wednesday she defended the central bank’s monetary and bank regulatory policy from House Republicans unhappy with the pace of economic growth and the health of the financial sector.

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MCX BASE METAL UPDATE

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 Supply troubles propelled nickel to two-month highs 

MCX Nickel prices rose to two-month highs on mounting concerns about supplies after the suspension of mines in top ore producer the Philippines and its decision to cancel contracts for undeveloped mines. The Philippines this week ordered the cancellation of 75 mineral production-sharing agreements as developing them would threaten water supplies. That came after the closure or suspension of 28 of the country's 41 mines. Indonesia eased a three-year ban on nickel ore exports in January. However, analysts say the rules accompanying the relaxation on using local smelter capacity to process low-grade ore is a hurdle that some firms may not be able to jump. Stocks of nickel in LMEapproved warehouses stand at around 380,000 tonnes, while those in warehouses monitored by the Shanghai Futures Exchange total 89,000 tonnes. They account for more than 20 percent of global consumption estimated at roughly 2 million tonnes this year. Elsewhere, copper closed lower on profit-taking after a failure to build on a recent rally, which took prices to a 21-month high of $6,204 this week. Copper's gains have been fuelled by a strike at BHP Billiton's Escondida mine in Chile and a lack of permits for exports from Freeport McMoRan's Grasberg mine in Indonesia. 

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MCX Crude Oil Update

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 Oil prices surged as OPEC hinted possible output deal extension

Crude Oil prices edged up on Friday, lifted by a report that producer club OPEC could extend an output cut aimed at reining in a global fuel supply overhang. The Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia have agreed to cut output by almost 1.8 million barrels per day (bpd) during the first half of 2017, and estimates suggest compliance by OPEC is around 90 percent. The production cuts are aimed at curbing global oversupply that has dogged markets since 2014. Yet despite action so far, inventories remain bloated and supplies high, especially in the United States. To help rebalance the market, OPEC sources told Reuters that the supply reduction pact could be extended or deepened if all major producers showed “effective cooperation”. U.S. crude oil and gasoline inventories soared to record highs last week as refineries cut output and gasoline demand softened, the EIA said on Wednesday. Gasoline stocks rose 2.8 million barrels, compared with analysts’ expectations in a Reuters poll for a 752,000-barrel drop. That pushed inventories of the fuel to a record 259 million barrels. The latest Energy Information Administration (EIA) natural gas storage data recorded a decline of 114 Billion Cubic feet (Bcf) for the week ending February 10th. This was a smaller decline than last week’s 152 Bcf decline and also significantly smaller than the expected draw of around 130 Bcf.

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MCX BASE METAL UPDATE

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 Copper pulled back from recent highs

Copper prices slipped on Thursday but the prospect of supply disruption kept the price near a 20-month high. Other base metals were mixed. The focus continued to be Chile’s Escondida mine, majority owned by BHP Billiton Ltd., where a strike over pay has reportedly been postponed while union officials hold mediated talks with management. The strike has now entered its seventh day and, while parties are keen to talk to each other, it seems an agreement will take some time to reach. Copper has retreated since briefly cresting $6,200 a ton for the first time since May 2015 on Monday, but remains up 9% for the year. A production outage at Freeport-McMoRan Inc.’s Grasberg mine in Indonesia because it hadn’t received an export license has added to concern about a potential supply crunch. Brokerage firm Marex Spectron said that in recent sessions buyers have stepped in whenever copper has fallen, but warned that without another upward tilt, funds that bought during the recent run-up will sell out of their positions, weighing on the price. Copper, sometimes referred to as having an economics Ph.D for its ability to track the economy’s health, is on a tear. But its supply rather than demand that’s filling headlines in the current rally.

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MCX Gold News Update

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 Gold set sights on a more than 3-month high

Gold futures tried for back-to-back gains Thursday, setting prices up for their highest finish in more than three months. The yellow metal’s gain on Wednesday snapped what had been a four-session fall stoked by expectations that the dollar would rise on heightened expectations for U.S. interest-rate hikes, following two days of testimony this week on Capitol Hill from Federal Reserve Chairwoman Janet Yellen. Some analysts, however, believe that gold’s modest near-term gains look vulnerable as U.S. equities remained near record highs amid optimism for the Trump administration’s plan to deliver tax reforms. Jitters ahead of a coming G-20 foreign ministers’ meeting—the first to be attended by members of the Trump administration—may have encouraged a cautious disposition. Concern over U.S. President Donald Trump’s policies, as well as elections in the Netherlands, France and Germany this year, have fuelled gold’s rise. Adding support to gold prices, SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, increased its bullion holdings for an 11th consecutive day on Wednesday.

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TRADING RULE

Accept the loss and forget about it.

Record it in your record book and do not rehash it.

Do not discuss the loss with anyone.

Do not recruit anyone’s sympathy or sorrow.

Do not feel sorry for yourself.

Do not soothe your loss by going overboard on food, drink or sex.

Do not feel as if you have been punished.

Do not punish or heat yourself self for losing.

Do not allow yourself to accept any punishment for loved ones.D

Do not accept ridicule or blame from your broker.

Do not blame your trading system.

Do not alter ur Technic, system or methods.

Do not fear making the next trade.

Do not respond by allowing ur market studies to fall behind.

MCX CRUDE OIL PURE INTRADAY TIPS CALLS

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MCX HNI Crude Oil UPDATE

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 Oil seesawed despite inventories jumped to a record weekly level 

Data from the Energy Information Administration released Wednesday revealed a sixth straight weekly rise in US crude inventories, lifting the total to an all-time high. Futures prices for crude, however, seesawed between modest losses and gains. Traders also held out hope that continued production cuts by major oil producers will draw down global oil stockpiles. The EIA Wednesday said domestic commercial crude inventories, excluding oil in the Strategic Petroleum Reserve, rose 9.5 million barrels to total 518.1 million barrels for the week ended Feb. 10. That is a record weekly level, based on EIA data going back to 1982. The previous record was at roughly 512.1 million barrels for the week ended April 29, 2016. Gasoline supplies rose by 2.8 million barrels, according to the EIA, but they were expected to fall by 500,000 barrels, based on the S&P Global Platts survey. Distillate stockpiles were down 700,000 barrels last week, compared with an expected decline of 1.25 million barrels.

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MCX GOLD UPDATE

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 Gold ended up despite strong U.S. data, Yellen rate hike hints 

Gold rose as the dollar came off its highs on Wednesday, shrugging off earlier pressure from stronger-than-forecast U.S. inflation and retail sales that added to expectations for near-term U.S. interest rate rises. U.S. Federal Reserve Chair Janet Yellen said on Tuesday that delaying increases could leave the Fed's policymaking committee behind the curve. On Wednesday, Philadelphia Fed President Patrick Harker repeated his view that the central bank should continue to raise interest rates this year. US consumer prices rose 0.6% for January after a 0.3% increase in December and this was also well above consensus expectations of a 0.3% gain. The monthly increase was the strongest since February 2013 with gains led by energy which rose 4.0% on the month to give a 10.8% annual increase. The year-on-year rate increased to 2.5% from 2.1% and the highest rate since March 2012. Excluding food and energy, prices rose 2.3% over the year from 2.2% previously. The inflation data overall will maintain expectations that inflationary pressures are rising and there will be additional pressure for a Federal Reserve tightening. US retail sales rose 0.4% for January compared with expectations of a 0.1% gain with the December advance revised higher to 1.0% from 0.6%. Underlying sales rose 0.6% on the month and control-group sales rose 0.4%. There was also a stronger than expected reading for the New York Empire manufacturing index at 18.7 for February from 6.5 previously

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MCX BASE METAL UPDATE

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 Copper prices fell as striking miners held talks 

Copper prices pulled back Wednesday, ahead of renewed talks between striking workers and management at the world's largest copper mine. Union workers at Chile's Escondida mine in the Atacama Desert said they would begin talking with management, after five days of striking. The mine is majority-owned by BHP Billiton Ltd. The union went on strike last Thursday over what they said were plans to cut worker benefits after government mediation between the two parties broke down. A quick resolution would most likely put some pressure on copper prices, with the market expecting a lengthy strike. A stronger dollar was also weighing on the metal on Wednesday, after Federal Reserve Chairwoman Janet Yellen raised expectations for a rate increase next month. The union talks come amid a supply pinch, after Freeport-McMoRan Inc. said it had stopped production at its Grasberg mine in Indonesia because it had not yet received an export license for the mine, following new regulations for exports introduced by the government in mid-January. Nickel rose to a 10-week high on Wednesday after the Philippines Department of Environment and Natural Resources said Tuesday that it planned to cancel 75 contracts with mining companies because of environmental concerns. However, those projects aren't yet producing nickel, so the cancellations are more likely to affect long-term production and prevent new mining projects

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MCX CRUDE OIL UPDATE

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Oil climbed as global-output signals sway prices

Oil prices moved higher Tuesday as evidence that OPEC oil producers fulfilled their pledge to hold back production in January helped prices recoup some of their recent losses. However, lingering concerns that rising output in the U.S. could threaten efforts to balance the crude market weighed on investors’ psyches, capping gains. Data Monday from the Organization of the Petroleum Exporting Countries showed the group’s production in January declined by 890,000 barrels a day from the previous month to 32.14 million barrels a day. The drop indicates a 90% compliance level so far by producers who had agreed to curtail their output. If the rate of reduction continues at the same pace for the next six months, the global oil market could cross to a deficit by the second half of the year when demand is stronger. OPEC predicts global demand to grow by 1.3 million barrels a day this year, with China pegged as Asia’s biggest guzzler as the country’s vehicle sales continue to surge. However, growing production from the U.S. could foil the OPEC’s effort to rebalance the oil market

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MCX GOLD Update.

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Gold fell as dollar gains on Yellen testimony

Gold fell on as the dollar advanced after U.S. Federal Reserve Chair Janet Yellen said the central bank will likely need to raise interest rates at an upcoming meeting with the economy expanding further. The Federal Reserve chair struck a more hawkish tone than investors had expected, although she did flag considerable uncertainty over economic policy under the new Trump administration. U.S. President Donald Trump's national security adviser Michael Flynn resigned on Tuesday over revelations that he had discussed U.S. sanctions against Moscow with the Russian ambassador before Trump took office. "Yellen is trying to nudge the expectations for a rate hike in March higher. This doesn't mean they will move in March, but the Fed wants to have the option to move," said Omer Esiner, chief market strategist at Commonwealth Foreign Exchange Inc. Gold is highly sensitive to climbing U.S. interest rates, which increase the opportunity cost of holding non-yielding bullion while boosting the dollar, in which it is priced. The dollar index reached a three-week peak following Yellen's prepared remarks before the Senate Banking Committee. Ahead of the testimony, a hawkish central banker said the Fed will likely have to raise rates faster than financial markets currently expect given any new policies by the Trump administration, while uncertain, will force the central bank's hand. On the upside for gold, holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.49 percent to 840.87 tonnes on Monday.

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MCX BASE METAL Update

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Aluminium hit highest since May 2015 on China smelter worries 
Aluminium touched its highest in 21 months on Tuesday on renewed concerns about potential closures of Chinese smelters to cut pollution while copper also extended gains on supply worries. Base metals also got fillip from a rise in Chinese credit growth and hopes for more infrastructure spending. In a sign of growing public anger about pollution, hundreds of residents in a northeastern Chinese city on Tuesday protested against the building of an aluminium processing plant. That came a day after Reuters reported a draft policy document showed that the world's biggest metals consumer was considering forcing steel and aluminium producers to cut more output as Beijing intensifies its war on smog. Buying across industrial metals was driven by the size of the fixed asset investment plan with recent comments in the press suggesting investment in railway construction will remain high in 2017. While the latest fixed investment data is due later this month, figures showed on Tuesday that China's banks extended the second highest monthly loans on record in January, indicating credit growth remained robust. Copper slipped into the red on hopes strike talks would restart at the world's biggest copper mine in Chile. Striking workers at Chile's massive Escondida copper mine have accepted a government invitation to try to resume dialogue with mine operator BHP Billiton.

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MCX CRUDE OIL UPDATE

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Crude Oil faced first loss in 4 sessions as U.S. output concerns flare up

Oil prices headed lower Monday as concerns over growing U.S. crude production set prices up for their first decline in four sessions. The concerns offset support from a monthly report from the Organization of the Petroleum Exporting Countries which confirmed that the group’s members are largely complying with an agreement to slash crude output. OPEC’s monthly oil report showed that members last month delivered more than 90% of the production cuts that were agreed late last year in an effort to rebalance the oil market. OPEC said oil production fell by 890,000 barrels a day in January compared with December, with Saudi Arabia the biggest contributor to the output reduction. OPEC on Nov. 30 had agreed to cut production from January by 1.2 million barrels a day to end a persistent oil glut. Later in December, Russia and other producers outside the group committed to take 558,000 barrels a day out of the market. The combined cuts would wipe out around 2% of the world’s daily production. But worries about increasing oil production in the U.S., which isn't part of the agreement, continued to pressure prices, particularly after data Baker Hughes on Friday showed that the number of active U.S. rigs drilling for oil, which serves as a proxy for oil activity, rose for a fourth-consecutive week.

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MCX BASE METAL Update

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Copper price hit highest level since May 2015 on supply curbs

The price of copper on Monday hit its highest level since May 2015, extending the previous session's near 5 percent surge after shipments from the world's two biggest copper mines were disrupted. Copper has managed to break higher from its recent range with the supply disruptions from two major producers. A strike at the world's biggest copper mine, Escondida in northern Chile, entered a fifth day on Monday with little sign of an imminent resolution. A strike began at the facility, operated by BHP Billiton , after wage talks failed to end in agreement. On Friday BHP said that it would not be able to meet its contractual obligations on metal shipments two days into what was gearing up to be a prolonged stoppage. Meanwhile, Freeport-McMoRan Inc said an Indonesian export ban remained in place at its Grasberg copper mine, the world's second largest, because it had yet to reach agreement with the government on a new mining permit. That came against a backdrop of encouraging demand signals from China, which posted much stronger than expected trade data for January as demand picked up at home and abroad.

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MCX GOLD Update.

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Gold pulled back on stronger dollar 

Gold prices fell to a more than one-week low on Monday, as a stronger dollar weighed on the metal and investors awaited a Federal Reserve meeting this week. The dollar hit a two-week high against the yen as investors focused again on the U.S. reflation trade which dominated in the aftermath of Donald Trump's election as U.S. President in November, but has stalled this year. A higher U.S. currency makes dollardenominated commodities more expensive for holders of other currencies, potentially subduing demand. Investors bought equities, betting that Trump's tax reform plans will boost economic growth and corporate profits, but they are concerned by his protectionist ideas on trade. Meanwhile national elections in Europe this year, starting with the Netherlands at the end of March, make the political outlook uncertain. The first round of the presidential elections in France follows in April, with the possibility of Marine Le Pen of the National Front winning a root cause of much uncertainty. This week, investors will hear from U.S. Federal Reserve Chairwoman Janet Yellen, who will appear before the Senate Banking committee on Tuesday and the House Financial Services Committee on Wednesday.

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MCX Crude Oil Intraday Trend

MCX Crude Oil Intraday Trend- Buy is advised only above 3660.3 with a stop at 3579.8 Below 3557.9 go for sell and put stop at 3638.3
Intraday Resistance of MCX CRUDE OIL are 3653 : 3689.5 : 3699.7 : 3712.3
Intraday Support of MCX CRUDE OIL are 3565 : 3528.5 : 3519.5 : 3507.1

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MCX HNI Crude Oil Update

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Oil prices rose as OPEC compliance to cuts hit 90%

Oil prices were up more than 1 percent on Friday after the International Energy Agency (IEA) said that OPEC’s supply-cut deal achieved a record initial compliance rate of 90 percent. Oil prices are thus building on yesterday’s rise, driven by a bullish sentiment on the markets. The IEA said that it had estimated OPEC’s crude oil output at 32.1 million bpd in January, with record compliance, and some producers, especially Saudi Arabia, cutting more than pledged. When OPEC decided last November to coordinate an output cut to 32.5 million bpd between January and June, the majority of analysts and experts were skeptical about the cartel achieving a high compliance rate, given its track record of breaching promises and tendency to cheat. OPEC’s average historical compliance rate is around 60 percent. But the latest estimates, 90 percent by the IEA, and 91 percent by S&P Global Platts, suggest that this time around, OPEC may have delivered on its promise, at least for January. Both estimates concur that while some OPEC producers are still above their targeted production level – Iraq, in particular – others, like the cartel’s biggest producer and de facto leader Saudi Arabia, are cutting deeper than required.

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MCX Gold News Update

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Gold at 3-month high on European political risks, Trump uncertainty

Gold steadied on Friday, but remained below this week’s three-month top as the U.S. dollar and Treasury yields came off their highs after the currency initially jumped on U.S. President Donald Trump’s promise of a major tax announcement. Gold prices ended a second weekly gain, up 1 percent. The dollar .DXY pared gains against a currency basket on Friday after earlier strength from U.S. President Donald Trump’s pledge to announce a major tax plan within weeks cooled some market nerves, reinvigorating dollar bulls. U.S. economic data has also stoked talk that the Federal Reserve would press ahead with U.S. interest rate hikes sooner rather than later. U.S. import prices rose more than expected in January, while initial jobless claims dropped unexpectedly last week to the lowest in nearly 43 years. Gold is highly sensitive to rising U.S. interest rates, which increase the opportunity cost of holding non-yielding bullion while boosting the dollar, in which it is priced.

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MCX Metals & Energy

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mcx Copper hit highest since June 2015 on Chile mine strike

Copper prices surged to their highest in 20 months on Friday after BHP Billiton declared force majeure due to a strike at the world’s biggest copper mine in Chile. BHP issued an official warning of supply disruptions after workers at the Escondida mine in Chile walked out on Thursday. The mine’s output for the six months ending Dec. 31 was 452,0000 tonnes, unchanged from a year earlier, BHP said in its latest operational review. It had forecast Escondida would produce 1.07 million tonnes in the 12 months to the end of June. Base metals were also broadly supported, with zinc touching a 2-1/2 month high, after U.S. President Trump calmed international tensions by affirming the “one-China” policy and promised big tax cuts. Trade data from China, the world’s biggest metals consumer, also bolstered prices. The broader import/export numbers look strong which is interesting. It’s not as gloomy as the market was expecting. Trump seems to have come round to the one-China view and he wants to have a good business relationship, together with his promises of ‘phenomenal’ tax cuts. Zinc, mainly used in galvanised steel, was also boosted after Chinese iron ore futures jumped nearly 8 percent on Friday to their highest in three years and Chinese steel rebar futures also gained.

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STOCK MARKET Karnataka Bank

CMP : Rs. 120.10 | Stop Loss: Rs. 107 | Target : Rs. 154 | Returns(%) : 20.2
•	Incorporated in 1924, Karnataka Bank (KTK) is one of the oldest private sector banks. It offers wide variety of corporate and retail banking products and services to around 8 million customers. It forayed into General Insurance business as a JV partner in Universal Sompo General Insurance.
•	KTK has a business turnover of Rs 93,222cr from 2,075 service outlets with 738 branches, 3 Extension Counters and 1,334 ATMs in 486 centres across India as on Dec 31, 2016. It has the strongest presence in South India with 577 branches of which ~79% is in Karnataka state.

Union Bank of India Q3 net surges 32% at Rs 104 cr

Public sector lender Union Bank of India (UBI) has reported a decline of 32.4 per cent in its standalone net profit at Rs 104 crore for the third quarter ended December 31 2016 on healthy earnings from interest.

The bank had posted standalone net profit of Rs 78.54 crore in corresponding quarter of previous fiscal Union Bank of India said in a filing to the BSE.

The total income of the bank too grew by 8.9 per cent to Rs 9589.45 crore in Q3 FY17 from Rs 8802.06 crore in Q3 FY16.

During the quarter under review the bank’s gross non-performing assets grew 11.7 per cent of total loans compared with 7.05 per cent in the year-ago quarter. Net NPA of the bank too increased to 6.95 per cent against 4.07 per cent in the corresponding period last year.

NII the difference between interest earned on loans and interest paid on deposits rose 7 per cent at Rs 2136.62 crore versus Rs 1996.51 crore in the year ago period. Further non-interest income surged 50.1 per cent to Rs 1339.67 crore from Rs 892.69 crore in the same period a year ago.

Meanwhile shares of the Bank were trading at Rs 154.05 apiece down 7.62 per cent from previous close on BSE at 12:39 hours.

MCX BASE METAL UPDATE

Copper futures jumped, on news that workers at the Escondida copper mine in Chile, the largest in the world, were set to strike on Thursday. Workers at Chile’s Escondida mine, the world’s largest copper-mining operation, are expected to strike on Thursday after unsuccessful talks between union officials and management, led by BHP Billiton Ltd., the mine’s largest union said. On Tuesday, union officials at Escondida said they were no closer to a deal with BHP Billiton’s majority-owned Minera Escondida, which it accused of being “very rigid” in negotiations over wages and benefits for workers at the mine. “The position the company has taken doesn’t allow us to see a solution to the conflict,” the mine’s largest union, Union No. 1, said in a statement. “The union and its more than 2,500 workers will continue with its contingency plan to start the strike on Thursday.” The Escondida mine in the Atacama Desert in northern Chile accounts for roughly 5% of global output. BHP manages the operation and holds a roughly 58% stake. Other investors include Rio Tinto PLC and Japan’s Mitsubishi Corp. Expectations of a possible strike at the mine have helped push copper prices higher this year. The mine will stop producing copper if workers strike, Minera Escondida said in a statement.

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MCX Crude Oil Update

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 Crude regained lost ground on unexpected gasoline draw down

U.S. crude stockpiles surged last week, driven by a big rise in imports and inventory build at the key oil hub at Cushing, Oklahoma, while
gasoline drew down unexpectedly, the Energy Information Administration said on Wednesday. Crude inventories were up 13.8 million barrels in
the week to Feb. 3, compared with expectations for an increase of 2.5 million barrels. Crude imports jumped, rising 1.1 million barrels per day, with
a big increase in imports at the Gulf Coast, where crude stocks rose by 10.9 million barrels, the largest weekly rise on record, to 267.6 million
barrels. That figure is also a record. Crude stocks at the Cushing, Oklahoma, delivery hub for U.S. crude futures rose 1.1 million barrels, EIA said..
Gasoline stocks fell 869,000 barrels, versus analyst expectations for a 1.1 million-barrel gain, offsetting some of the bearish crude data. The rise in
oil prices was somewhat surprising, as the big build in stocks undermines expectations for tighter supply. However, industry group American
Petroleum Institute reported a slightly bigger crude build of 14.3 million barrels on Tuesday, so the EIA data confirmed already lofty expectations.
Speculators have maintained long positions in this market, anticipating further gains in oil as the OPEC continues to reduce production. Distillate
stockpiles, which include diesel and heating oil, rose 29,000 barrels, versus expectations for a 300,000-barrel increase, the EIA data showed.

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MCX Gold News Update

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Gold prices rose for the fifth day in a row on Wednesday, extending a rally to a fresh three-month high amid ongoing worries over political risks in Europe and economic uncertainty in the U.S. Gold for April delivery on the Comex division of the New York Mercantile Exchange rose to a session high of $1,242.50 a troy ounce, a level not seen since November 11. Investors remained focused on French politics, with recent opinion polls showing centrist Emmanuel Macron slightly ahead of conservative Francois Fillon in the first round, but behind far-right National Front leader Marine Le Pen. She has vowed to pull France out of the euro zone and hold a vote on its membership in the European Union. The first round of the election is scheduled for April 23, followed by the final run-off vote on May 7. Adding to the mood of uncertainty, elections will also be held in the Netherlands in March, Germany in September and possibly Italy. Traders also eyed political risk elements in the US, with President Donald Trump's administration on the back foot over its immigration and other policies.

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MCX CRUDE OIL INVENTORY CALL

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Rupee ends stronger on sustain dollar sales

Indian rupee ended stronger against dollar on Wednesday on account of sustained selling of American currency by banks and importers. Local currency got some support from a private report stating that the global economic order is expected to shift from advanced to emerging economies over the next few decades and by 2040 India could edge past the US to become the world's second largest economy in purchasing power parity (PPP) terms. Rupee strengthened further despite the Monetary Policy Committee of the Reserve Bank of India, headed by Urjit Patel, unanimously decided to hold the key repo rate at 6.25 percent and reverse repo rate at 5.75 percent. On the global front, euro slipped against dollar, pressured by political woes in Europe ahead of elections that checked its recent ascent against the dollar.

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Importance & Role of LME Inventory in MCX Commodity Trading ?

Commodity Inventories plays an important role in commodity trading, specially in future trading. It directly provides you an idea about commodity demand and supply. Inventories of commodities, with low inventories typically leading to more volatile future prices and increasing the risk of a “stockout” (inventory exhaustion). Commodity Calls collects the data for its members from various sources and present it for the your convenience. Inventory data of commodities is used on the relationship between inventories and commodity futures risk premiums.
For traders of any kind it is important to wade through the volumes of available information and focus on analyzing data that is accurate, current and pertinent. The LME provides access to information that fits these criteria by publishing price data extracted as a result of general trading activities, which for many metals drives the global pricing mechanism. To understand why the LME is a primary source of market data, you must first grasp how the exchange operates.
In essence, the LME Inventory data allows traders to better predict future price movements or manage the subsequent risk. Traders regularly check to find out official price data to better inform their investment outlook, which has a flow on effect, impacting relevant financial and physical commodities markets worldwide.
Note : LME Inventory Report here, has taken every precaution to provide the most accurate information possible. However it is provided without warranty or claim of reliability. It is accepted by the site visitor on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. The information and data were obtained from sources believed to be reliable, but we do not guarantee its accuracy.It is the responsibility of the reader to perform proper due-diligence before acting upon any of the information provided. It is the duty of the information provider to verify the accuracy and legality of the information they are providing and to accept liability for any actionable defamation objectionable material which they provide. This Report is Updated Daily around 2:30 – 2:35 PM. Information Provided over here is Just for Personal Use and we have taken all the care for accurate data but still there is no responsibilities of this website for any issue.

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