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How many times have we not heard of stories about when a spouse dies, the wife [many of them are home makers with negligible or minimal income] does not have a clue or access to how much assets /debt she has been left with by her spouse. By the time she picks up the pieces of her life and manages to find out her net worth/inheritance and what to do with it, she is so emotionally and physically drained out, she has either given up or lost it all.Although risk appetite re-emerged on prospects of improvement in the European economic scenario, markets continue to remain volatile as long-term risks associated with the implementation of the latest rescue plan remain.
Also, markets still need to assess the long-term impact of the same as announcements of measures will only help ease short-term concerns but may not necessarily translate into a permanent solution from a longer term perspective.
Spot Gold prices came under pressure today and slipped around 0.3 percent till 4.45pm IST, taking cues from mixed market sentiments over the European crisis. Markets had embraced with positivity the plan announced by the policymakers; but this plan now comes with a baggage of questions that yet need to be answered. Gold also came under pressure on account of profit-booking at higher levels.
Inflationary expectations had supported gold prices yesterday and the yellow metal also took cues from movement in the US Dollar Index (DX) that has slipped sharply during this week.
Spot Silver prices on the other hand remained largely stable today and remained less affected from the mixed sentiments in the global financial markets. Prices in the international markets are currently trading around $35.3/oz.
Copper prices came under pressure today despite hopes of improvement in the European economic scenario as demand concerns emerged. Latest data by the International Copper Study Group (ICSG) indicated that in the first seven months of this year, copper demand in China declined 5 percent. Moreover, further demand slowdown can be expected as economic growth in China is expected to slow. This factor led to downside pressure on prices today and the red metal also saw profit-booking at higher levels. In the past few days, copper prices
have increased sharply and bounced back above the crucial $8000/tonne mark.
Nymex crude oil prices declined by 0.6 percent and is trading around $93/bbl till 4:45pm IST, taking cues from fall in Japanese industrial output that declined 4 percent in September as compared to a rise of 0.6 percent a month ago. On the MCX, oil prices declined by 1.8 percent and hovering around Rs.4527/bbl till 4:45pm today.
Outlook
As we approach the weekend, global financial markets are expected to witness mixed trade, as on one hand bulls take charge from positive European cues and on the other hand concerns over long-term economic risks still remain. On the back of this, we expect gold prices to trade higher as building inflationary pressures coupled with mixed views over the macroeconomic scenario will support upside in the yellow metal.
Silver is expected to trade on a rangebound note, taking mixed cues from upside in gold and fall in base metal prices.
Copper is expected to witness downside pressure and prices may not be able to sustain around levels of $8000/tonne in the international markets on account of expectations of slowdown in Chinese demand.
Slowdown in Japanese industrial output coupled with mixed sentiments ahead of the weekend trade is expected to lead to downside pressure on crude oil prices today.
Courtesy: Angel Commodities
0 Dehra Dun, Oct 28 (PTI) Curfew has been fully lifted from the industrial town of Rudrapur in Kumaon region, where four people were killed and scores of others injured in communal riots over an alleged act of sacrilege earlier this month, an official said. As the festival of Diwali passed off peacefully, the administration decided to lift night curfew as well from last night, Udhamsingh Nagar District Magistrate P S Jangpangi said. The administration was giving relaxation in day curfew since October 5 but night curfew was being continued keeping in view the tense situation in the town, he said. However, prohibitory orders under Section 144 CrPC would remain in force for some more days, the DM added. function postquote(keysearch) { len = keysearch.companyname.value.length; if(len 10) { tempvar=companyname; flag1="true"; break; } else { j=i+1; result= companyname.charAt(i); preval=companyname.charAt(j); if(result==" " || preval==" " || result=="." || preval=="." || len=0; i--) revstr+=str.charAt(i) return revstr; } function sector_newsletter(){ var email = document.getElementById("email_newsletter").value; emailRe = /^\w+([\.-]?\w+)*@\w+([\.-]?\w+)*\.(\w{2}|(com|net|org|edu|int|mil|gov|arpa|biz|aero|name|coop|info|pro|museum))$/ if(email=='' || email=='Enter email address') { alert("Enter Email address."); document.getElementById('email_newsletter').focus(); return false; }else if(!emailRe.test(email)) { alert("Enter Valid Email"); document.getElementById('email_newsletter').focus(); return false; }else{ var emailstr = toHex(email); var str = strrev(emailstr); document.nlfrm.action ='/sector-newsletters/index.php?email='+str; return true; } } function tabs_news_rhs(a) { if(a==1) { document.getElementById("news_mp").style.display="block"; document.getElementById("news_ep").style.display="none"; document.getElementById("rhs_tab_1").className = "act"; document.getElementById("rhs_tab_2").className = ""; } else { document.getElementById("news_mp").style.display="none"; document.getElementById("news_ep").style.display="block"; document.getElementById("rhs_tab_1").className = ""; document.getElementById("rhs_tab_2").className = "act"; } } 
Vayalar Ravi Says No Decision On Air India Equity Infusion, Aircraft Buy
The latest earning numbers FIRST on CNBC-TV18
Subscribe toMoneycontrol NewslettersMUMBAI (Commodity Online): Chana futures declined Friday on profit booking by the traders though firm demand in the local markets during the festive seasons limited the downtrend.
At NCDEX chana November contract is trading at Rs.3437 per quintal, a decline of 1.09 per cent against the previous close.
In the early sessions the contract traded at a range of Rs.3373-3484 per quintal. Open interest of the contract is 127440 lots and volume traded is 126290 lots for the time being.
Raising MSP of Rabi crop supported market sentiments where an overall bullish sentiment was already prevailing. MSP of Gram was raised by 33% to Rs 2800/Q from Rs 2100/Q.
As per the latest release of the Rajasthan Agriculture department, 228200 hectares has been covered under Chana cultivation as on 18th October 2011. In Maharashtra area sown under Chana cultivation stands around 6100 hectares till 18th October 2011.
MUMBAI (Commodity Online): Cardamom futures traded down on Friday due to rising arrivals from the fresh crop amid subdued demand in the spot markets.
At MCX cardamom November contract is trading at Rs.675.90 per Kg, a decline of 2.86 per cent against the previous close.
In the early sessions the contract traded at a range of Rs.674.90-699.80 per Kg. Open interest of the contract is 3935 lots and volume traded is 2466 lots for the time being.
Spot activity has resumed and rise in arrivals is likely to increase the bearishness in market. According to Spices board of India, total arrivals during the current season till Oct. 1st were up by 122% to 3860 tons against 1735 tons in the same period last year.
LONDON (Commodity Online): The prompt contract suffered as the EIA weekly storage report churned out a larger-than-consensus injection number. The November contract came off 7 cents to $3.52/MMBtu.
Calendar 2012 and 2013 both lost a meager penny to $4.02 and $4.59, respectively. Early next week could see much colder than normal temperatures spreading across most of the East, Midwest, and Southern states, while the weather outlook for the East in the 6-10 day period has also trended colder on the day.
The EIA weekly storage report showed a net injection of 92 Bcf, 6 Bcf above consensus. The East added 44 Bcf, while the West piled on 7 Bcf. The stock in the Producing Region went up 41 Bcf.
Inventory is now 28 Bcf below last year's level at the same time and 158 Bcf above the 5-year average. Currently at 3.7 Tcf, the storage level is well on its way to finish October around our projected 3.8 Tcf.
Cash prices were mostly mixed on the day. Henry Hub cash lost 6 cents, to $3.59. SoCalBorder dropped 9 cents, to $3.61, while New York (Transco-Z6) rose 2 cent, to $4.01. The new intra-Marcellus Tennessee Zone 4 moved 2 cents down, to $1.09.
MUMBAI (Commodity Online): Jeera futures rose Friday on bargain buying by the traders on the back of firm demand in the local markets for the ongoing festive seasons.
At NCDEX jeera November contract is trading at Rs.14700 per quintal, higher by 1.52 per cent on 14:55 IST against the previous close.
In the early session the contract traded at a range of Rs.14419-14846 per quintal. Open interest of the contract is 16692 lots and volume traded is 4044 lots for the time being.
No new Fundamental reports were there as Unjha mandi remained closed for Festival this week, Jeera traded with high volatility.
Latest reports from Spice Board of India indicates the estimated exports of Spices for the period April-August 2011 have fallen by 23% from 255,100 MT in 2010 to 195,500 MT in 2011. Jeera exports fell by 39% from 15,700 MT to 9,500 MT during the same period.
According to Angel Commodities reports, low overseas demand and reports of consumers switching to other cheaper sources of gum for crude extraction due to high prices, the commodity is trading down.
With the new arrival in the market from the end of October, Guar Seed is expected to gain momentum.
At NCDEX, Guarseed November contract traded down 0.02% touching Rs 4380 in the after noon trade on 28th October.
MUMBAI (Commodity Online):No new Fundamental reports were there as Unjha mandi remained closed for Festival this week, Jeera traded with high volatility.
There have been some recovery in the market rates and short covering at these levels cannot be ruled out by this week end. Exporters reportedly waiting for the prices to fall before initiating fresh demand in the markets.
Firmness in International market rates from Turkey and Syria could support the Indian rates –as per traders.
Medium term trend looks firm from expected rise in export demand but short term trend is expected to remain volatile. A firmness in Dollar vs Re too could support the export factor.
Reports of adverse weather conditions in other major producers like Turkey and Syria have created apprehensions of lower output there. Syrian production expected at 40000 tonnes and that in Turkey lower at 12-15000 tonnes.
Indian production expected at 28-30 lakh bags translating to more than 1.5 lakh tonnes.
Export demand from US and EU could also rise at these lower levels in coming weeks and that could have a moderate bullish impact on the prices.
Latest reports from Spice Board of India indicates the estimated exports of Spices for the period April-August 2011 have fallen by 23% from 255,100 MT in 2010 to 195,500 MT in 2011. Jeera exports fell by 39% from 15,700 MT to 9,500 MT during the same period.
Courtesy: Religare Commodities
Traders expect fall in rates over last few days have been significant and an expected rise in exports in coming weeks could support the price further.
Slight improved production prospects from Kerala and Karnataka and arrival of the new crop could limit the uptrend.
Overall Fundamentals remained firm however from lower stocks and lower production amidst expected rise in export demand n coming weeks
Exports and domestic demand from North India remained good. Traders expect that with low stocks, lower global production and rising export demand, trend is likely to remain Bullish for the commodity from a medium to long term point of view.
Strengthening in the Dollar vs Re rates could have beneficial impact on the export front. But short term correction possibilities remain.
Traders expect that good demand and a firm trend in Vietnam could support the rates further. Good demand from Gulf countries sup-porting the rates. Demand from China and West Asia also reported.
IPC has predicted 2011 crop to be lower by 2% at 309,952 MT. Carryforward stocks are expected to decline marginally to 94,582 MT vs 95,442 MT. Global exports have declined by 11% to 237,650 MT. Indian production expected to decline to 48,000 MT.
Vietnam is having low stocks as per reports. The production there too is expected to fall this year as per some estimates. Brazil and Indonesian crop expected to be lower. Low carryover stock in Brazil and Indonesia is likely to raise exports here in coming months.
Reports of farmers shifting to other more profitable crops have affected the production aspects for the crop in India.
Latest reports from Spice Board of India indicates the likely Pepper exports for the period April-August 2011 have risen by 12% to 8.750 MT in 2011 from 7,800 MT in 2010 same period.
Courtesy: Religare Commodities
On NCDEX, The jeera November contract traded up 1.53% or Rs 222 touching Rs 14701 on Friday in after noon hours.
MUMBAI(Commodity Online): Wheat futures fell Friday on profit booking by the speculators due to rising concerns on higher production in next season.
Spot market activities will continue to remain sluggish as the major physical markets will remain closed during this week due to Diwali festival.
At NCDEX wheat November contract is trading at Rs.1090 per quintal, lower by 1.73% against the previous close.
In the early session the contract traded at a range of Rs.1107-1076 per quintal. Open interest of the contract is 31840 lots and volume traded is 5650 lots for the time being.
Hike in the Minimum Support Prices (MSP) by around 15 per cent to Rs.1285 per quintal might have a positive impact over market sentiments supporting them to trade higher.
Potato March futures at National Commodity and Derivatives Exchange of India (NCDEX) has fallen 1.59 % on Friday to Rs 626.60 as against previous closing price of Rs 636.30. The contract had climbed 5% this week till Thursday. At Multi-Commodity Exchange of India MCX Potato March futures is down 1.75% at Rs 675.10. The contract gained 4.42% till Thursday this week at Rs 685.40 per quintal.
Analysts said that restricted supplies and speculative activity continues to provide firm support to potato futures.
MUMBAI (Commodity Online): Pepper futures fell Friday on sluggish demand in the local markets. Slight improved production prospects from Kerala and Karnataka and arrival of the new crop also put pressure on pepper futures.
At NCDEX pepper November contract closed at Rs.34210 per quintal, a decline of 0.86 per cent against the previous close.
In the early sessions the contract traded at a range of Rs.34175-34700 per quintal. Open interest of the contract stood at 9691 lots and volume traded is 2576 lots.
Production of Pepper in India in 2010-11 is projected to be 48 thousand tonnes (according to the Spices Board) as compared to 50 thousand tonnes last year. However, there are expectations that this estimate would be lowered further on account of the disease attacks and erratic rainfall in the major growing areas particularly Kerala and Karnataka.
Latest reports from Spice Board of India indicates the likely Pepper exports for the period April-August 2011 have risen by 12% to 8.750 MT in 2011 from 7,800 MT in 2010 same period.
MUMBAI (Commodity Online): Soybean futures fell Friday due to rising supply in the physical markets on the back of fresh arrivals from the producing areas.
Poor demand from the domestic as well as overseas buyers also put pressure on the soybean futures.
At NCDEX soybean November is trading at Rs.2212.50 per 10 MT, a decline of 1.68 per cent on 15:05 IST as against the previous close.
In the early session the contract traded at a range of Rs.2207.50-2259.50 per quintal. Open interest of the contract is 131660 lots and volume traded is 53560 lots for the time being.
As per USDA’s weekly export inspections came in at 41.15 million bushels which was in line with trade expectations and compares with an average of 27.8 million necessary each week to reach the USDA projection.
