Wednesday, September 13, 2017

MCX Agri Sugar updates for Today

Sugar Futures closed unchanged on Tuesday but the trend is looking positive on anticipation of good festival demand and reports that country may see tight supplies despite a 20% rise in output expected in 2017-18 (Oct-Sep), as ending stocks are seen tumbling to multi-year lows.

Moreover, imposing stock limits on sugar mills government is likely to allow import of 300,000 tn of raw sugar at 25-30% import duty. 

Thursday, September 7, 2017

Indian Government Prepared to provide cheap gold to jewelers

In order to provide Gold easily to jewelers, interest rates on gold loans can be reduced and there is a possibility of importing gold on lease. The Prime Minister's Office has recommended this to the Finance Ministry.

According to sources, the proposal sent by the Prime Minister's Office to the Finance Ministry has recommended that interest rates on Gold loans should be low, not to charge premium on gold loan, to provide a Gold Loan for a longer period and Gold on Lease Allow importing. According to the PMO, allowing the import of gold on lease will not be required to pay the full price of gold and there will be a significant reduction in current account deficit. Explain that jewellers take a gold loan from the bank. At present, gold lends 2 to 4 per cent interest on loan.

Thursday, August 31, 2017

Gold Silver Trading Volatile for Today

In the international market, the pressure of profit booking has been seen in Gold and there is a slight weakness in gold prices. In fact, the figures of jobs in GDP growth and private sector in the US have been better than the estimates.

At present MCX Gold  is trading at Rs 29420 with a drop of 0.5%. MCX Silver is trading below 0.65 per cent below Rs 39,500.

Tuesday, August 29, 2017

Ref Soya Oil Fall today due to Good growth soya crop

Prices fell for Ref Soy Oil as rains in growing regions for Soybean kept trend down for the oil complex sector overall. Fall in International markets too pressurised prices further. A prospect of Govt to further raise import duty is often supporting the market. Meanwhile high prospects of a rise in global ending stocks offers resistance in pushing soya oil higher.

Global markets are maintaining an overall positive tone due to improving demand outlook for bio diesel consumption, and chances of drop in yields of the domestic or the US crop. The recently released bearish reports from the USDA regarding higher global oil seeds production are keeping uptrend limited, unless we get reports of drop in the US soybean yields. The details of the USDA report are mentioned in Soybean section. International market reports are bearish while Indian reports are firm for the counter.

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