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NEWS IN DETAIL
Gold Shaky On Dizzying Spurt In Bitcoin (07/12/2017)
  COMEX Gold witnessed some buying around its four month lows but sentiments remained stressed as the digital currency Bitcoin briefly topped a fresh high of $14000. The metal has been hit by off late by weak demand conditions in the US and reports that major global exchange Chicago Mercantile Exchange (CME) indicated that it would soon be launching derivatives in the crypto currency Bitcoin hit the metal. COMEX Gold has not been able to hold and took a plunge under $1270 per ounce levels to test its four month lows. The metal is currently trading flat at $1265 per ounce. MCX Gold futures have also plummeted, sliding well under Rs 29000 per 10 grams levels. The counter closed around Rs 29970 per 10 grams yesterday and should extend losses if Rs 29K is not overcome. US Mint sales of American Eagle gold and silver bullion coins remained weak in November, amid record high equities. The Mint reported selling 12,000 ounces of American Eagle gold coins last month, down from 15,500 in October. Further, the total last month was down 92% down year-on-year from 147,500 ounces sold in November of 2016. The year-to-date total of 259,500 ounces is down by a whopping 73% from 956,000 in the first 11 months of 2016. US Mint American Eagle silver coin sales were just 385,000 ounces in November, slipping sharply from 1.04 million in October and 3.06 million in November 2016. The year-to-date total of 17.3 million ounces is down from 37.5 million in the first 11 months of 2016 - recording a slide of nearly 54
   
Crude Tests Two Week Low, Traders Eye Rig Counts (07/12/2017)
  Oil prices plummeted yesterday, witnessing a free fall to test two week low as weak equities clubbed with persistent profit selling pressure after recent gains hurt the sentiments. Prices are finding it difficult to surpass their two year highs. WTI Oil slipped under $56 per barrel and took a hefty tumble as equities plunged around Asia and Europe after US President Donald Trump's comments that he plan to transfer his country's embassy to Jerusalem hurt risk appetite. WTI Crude tanked around 3% before some buying emerged and is currently trading at $56.17 per barrel, up modestly on the day. MCX Crude oil futures are slipped nearly 2% to close at Rs 3640 per barrel. Recent spurt in oil prices is triggering a response from the suppliers. The US rig count climbed again for the week ending 1st December 2017. The United States added six rigs, four natural gas-directed and two oil-directed to finish the week at 929 active units, as against 597 a year ago. The increase came entirely from horizontal units. The domestic rig count has now gained four straight weeks to recover from a recent low of 898 rigs in first week of November 2017. Data out from US Energy Information Administration showed yesterday that the US crude stocks fell 5.6 million barrels, more than expected. That was partially due to closure of the Keystone pipeline after a leak in South Dakota in mid-November, which cut flows to Cushing, Oklahoma. However, that line reopened Tuesday. US gasoline stocks rose by 6.8 million barrels and distillate inventories were up 1.7 million barrels, keeping oil bulls under further check.
   
Crude Looks Firm After OPEC Deal To Extend Output Cuts (01/12/2017)
  Oil futures stayed in recovery mode after testing one week low as Oil cartel OPEC members agreed a deal with major producers such as Russia to continue cuts for further nine months to keep oil prices higher. Strength in global economic data and record high equities also kept oil bulls enthused. WTI Oil is currently trading at $57.61 per barrel, up 0.40% on the day. MCX Crude oil futures ended just at Rs 3700 per barrel after hitting highs near Rs 3750 per barrel levels amid an intrday correction but is expected to open on a firm note today Oil is also eyeing strong US growth data. Report released by the Commerce Department on Wednesday showed stronger than previously estimated US economic growth in the third quarter. The report said real gross domestic product surged up by an upwardly revised 3.3% in the third quarter compared to the originally reported 3% jump. The US Energy Information Administration (EIA), in its weekly petroleum status report, showed yesterday that US commercial crude inventories decreased by 3.4 million barrels last week, maintaining a total US commercial crude inventory of 453.7 million barrels. The commercial crude inventory remains in the upper half of the average range for this time of year. EIA also noted that the total gasoline inventories increased by 3.6 million barrels last week, according to the EIA, and remain in the middle of the five-year average range. Powered by Commodity Insights
   
Aluminium Prices gain by 21% in in the month of November 2017 (01/12/2017)
  Indian Aluminium prices gained by 21% at Rs 2101 per kg to end the month of November 2017. On a monthly basis Aluminium prices declined by 1.43%. The data estimates from International Aluminium Institute (IAI) showed that Aluminium production was up to 4.957 million tonnes in October 2017, from 4.93 million tonnes in September 2017. On a yearly basis, Aluminium production shrinked by 3.5% from 5.13 million tonnes in October 2016. China Aluminium production was 2.54 million tonnes in October 2017, up from 2.60 million tonnes in September 2017. Indian industry is in the midst of a mini-crisis more specifically, a power crisis. The power shortage had become so critical that many of India's aluminum smelters dashed off a letter to Prime Minister Narendra Modi seeking his intervention to defuse the fuel crisis. Between April and October this year, Coal India Ltd (CIL), the state-run monopoly, had managed to produce 278 million tons (MT) of coal, while it sold 317 MT by liquidating some existing stocks. Reports said its total stocks at the beginning of the year was about 68 MT, which now stood at 29 MT. Other subsidiaries, like Central Coalfields, Mahanadi Coalfields and Central Coalfields, saw their production during the period fall by 9.1%, 17.7% and 2.3%, respectively.
   
Indian Crude Oil Basket Holds Around $62 Mark (29/11/2017)
  The international crude oil price of Indian Basket as computed today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 61.92 per barrel (bbl) on 28.11.2017. This was lower than the price of US$ 61.95 per bbl on previous publishing day of 27.11.2017. In rupee terms, the price of Indian Basket decreased to Rs 3988.73 per bbl on 28.11.2017 as compared to Rs. 4008.03 per bbl on 27.11.2017. Rupee closed stronger at Rs. 64.42 per US$ on 28.11.2017 as compared to 64.69 per US$ on 27.11.2017. Powered by Commodity Insights
   
Nickel Prices Lowest in Six Weeks (29/11/2017)
  Nickel prices hit their lowest level in more than six weeks this week as the market fretted about weaker demand in top consumer China and rising supplies from major producer Indonesia. Benchmark nickel on the London Metal Exchange ended down 1.9 percent at $11,350 a tonne last evening. In earlier trading the metal used mostly in stainless steel fell to $11,255, its lowest since Oct. 12. The gradual lifting of Indonesia's ban on raw material exports, imposed in early 2014, has seen more nickel ore make its way to world markets, particularly to China. The latest news of higher supplies from Indonesia comes from state-owned diversified miner PT Aneka Tambang Tbk (Antam), aiming to boost sales of nickel ore by more than 160 percent next year to 11 million tonnes, from an estimated 4.2 million tonnes this year. Nickel prices soared to a two-year peak at $13,030 on Nov. 1 in a rally triggered partly by expectations of demand to make rechargeable batteries for electric vehicles. Nickel demand from battery makers is expected to rise only gradually in the coming years. Last year it accounted for 40,000 tonnes in a market estimated at 2 million tonnes.
   
Energy Preview: Crude Stays In Correction Mode (29/11/2017)
  WTI Crude oil extended losses from two-year highs on prospects of higher supply from a planned restart of the Keystone crude pipeline that had played a role in keeping the commodity elevated last week. Mixed equities and uncertainty about the OPEC meet outcome also weighed on the counter. The commodity currently trades at $57.70 per barrel, down 0.50% on the day. MCX Crude oil futures dropped 0.50% to the day to close around Rs 3740 per barrel. The IEA recently cut its oil demand growth forecast by 100,000 barrels per day (bpd) for both 2017 and 2018. Supplies are likely to exceed that level, particularly as US production continues to rise. US crude oil production has jumped more than 14 percent since mid-2016 to 9.65 million bpd and is expected to grow further. The IEA said non-OPEC production would rise 1.4 million bpd in 2018, undermining efforts by the Organization of the Petroleum Exporting Countries and other producers to limit global crude supplies and support prices.
   
Aluminium Nears Three Month Low, Could See Some Buying (22/11/2017)
  Global Aluminium prices slipped near near-three-month low yesterday as traders focused on ideas the pace of supply cuts from top producer China would slow. Benchmark aluminium on the London Metal Exchange dropped 0.2% at $2,080 a tonne. Demand conditions remain generally supportive for the metal though and a major slide is being overruled. China's aluminium production in October was 2.546 million tonnes, down from 2.606 million tonnes in September, latest data from the International Aluminium Institute (IAI) showed. MCX Aluminium futures closed down half a percent at Rs 134.40 per kg yesterday and should see some buying in dips. Global equities are up and crude oil is also approaching its recent highs- likely creating a supportive scenario for base metals complex. Powered by Commodity Insights
   
Silver Speculative Longs Hit Nine Week High (20/11/2017)
  Large speculators increased their net positions in the Silver futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Silver futures, traded by large speculators and hedge funds, totaled a net position of 69,173 contracts in the data reported through Tuesday November 14th. This was a small weekly gain of 271 contracts from the previous week. Speculative positions rose for the second straight week and are now placed to the highest net position level of the past nine weeks. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -80,448 contracts on the week. This was an increase of 1,193 contracts. Powered by Commodity Insights
   
WTI Crude Oil Speculative Longs Hit Record High (20/11/2017)
  Large energy speculators sharply increased their net positions in the Crude Oil WTI Futures markets last week to a record high level, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 596,466 contracts in the data reported through Tuesday November 14th. This was a weekly spurt of 51,260 contracts from the previous week. Speculative positions have now risen for five straight weeks (by a total of +179,405 contracts) and on to a new record high that surpasses the previous high of +556,607 contracts that was registered on February 21st of this year. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -614,084 contracts on the week. This was a weekly drop of -62,677 contracts. Powered by Commodity Insights
   
Copper Speculative Longs Gain For Third Week In Row (20/11/2017)
  Large metals speculators trimmed their net positions in the Copper futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Copper futures, traded by large speculators and hedge funds, totaled a net position of 39,714 contracts in the data reported through Tuesday November 14th. This was a weekly drop of -2,861 contracts. Speculative positions have now fallen for three straight weeks. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -45,644 contracts on the week. This was a weekly addition of 3,995 contracts. Powered by Commodity Insights
   
Natural Gas Off Five Month High (13/11/2017)
  Natural Gas futures slipped a bit today as five month high levels triggered some profit selling amid a corrective spell in equities. The commodity is currently quoting at $3.19 per mmbtu, down 0.40% on the day. MCX Natural Gas futures are trading at Rs 208.80 per mmbu, down marginally on the day. The US Energy Information Administration (EIA) reported Thursday that US. natural gas stocks increased by 15 billion cubic feet for the week ending November 3. The five-year average for the week is an injection of 45 billion cubic feet, and last year’s storage injection for the week totaled 54 billion cubic feet. Prices have rallied off late as demand for the next seven days is expected to be high as chilly weather in the northern tier of states moves toward the more heavily populated northeastern states. Total US gas stockpiles fell week over week to 5.5% below last year’s level and remain 1.8% below the five-year average. The EIA reported that US working stocks of natural gas totaled about 3.790 trillion cubic feet, around 71 billion cubic feet below the five-year average of 3.861 trillion cubic feet and 219 billion cubic feet below last year’s total for the same period. Working gas in storage totaled 4.009 trillion cubic feet for the same period a year ago. Powered by Commodity Insights
   
Indian Crude Oil Basket Surges Above Rs 4070 Level (13/11/2017)
  The international crude oil price of Indian Basket as computed today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 62.66 per barrel (bbl) on 10.11.2017. This was higher than the price of US$ 62.40 per bbl on previous publishing day of 09.11.2017. In rupee terms, the price of Indian Basket increased to Rs 4073.51 per bbl on 10.11.2017 as compared to Rs. 4049.46 per bbl on 09.11.2017. Rupee closed weaker at Rs. 65.01 per US$ on 10.11.2017 as compared to 64.90 per US$ on 09.11.2017. Powered by Commodity Insights
   
Copper Gains Ground in Evening Trades (13/11/2017)
  London copper on Monday climbed away from one-month lows hit last week, buoyed by steady demand and as the dollar hovered below recent peaks. Chinese data this month is expected to show the world's second-biggest economy cooled further in October as policy makers harden efforts to reduce financial risks and foster long term sustainable growth.Hedge funds and money managers reduced their net long position in COMEX copper contracts in the week to Oct. 31, U.S. Commodity Futures Trading Commission data showed on Friday. Non-commercial net longs turned lower from what had been the strongest since February. China will raise foreign ownership limits in financial firms in a step granting access to a tantalizing multi-trillion dollar financial services market, as the country seeks to position itself as a major global finance hub. Indian Copper was trading at Rs 446 per kg, up 0.36%. The prices of Copper tested a high of Rs 447.4 per kg and a low of Rs 445 per kg. Powered by Commodity Insights
   
US Weekly Jobless Claims Dip To 229,000 (04/11/2017)
  The Labor Department released a report on Thursday unexpectedly showing a modest drop in first-time claims for U.S. unemployment benefits in the week ended October 28th. The report said initial jobless claims edged down to 229,000, a decrease of 5,000 from the previous week's revised level of 234,000. Powered by Commodity Insights
   
Gold Seen Muted Ahead Of Nonfarm Payrolls Data (04/11/2017)
  Gold stayed in a choppy range amid steady equities and continued decent economic updates. The metal is likely to see another muted session today as markets wait for the US nonfarm payrolls data. COMEX Gold has come off three week low but major gains have been lacking in the metal this week. Gold is currently trading at $1277 per ounce, flat on the day. MCX Gold futures closed flat at Rs 29250 per 10 grams. Stocks turned in a relatively lackluster performance during trading on Thursday as traders digested the details of the House Republican tax reform bill as well as the announcement of President Donald Trump's nominee as the next Federal Reserve Chair. The Dow climbed 81.25 points or 0.4% to a new record closing high of 23,516.26, although the broader Nasdaq and S&P 500 ended the day nearly unchanged. With output jumping by much more than hours worked, the Labor Department released a report on Thursday showing a bigger than expected increase in US labor productivity in the third quarter. The report said labor productivity surged up by 3% in the third quarter. Eurozone manufacturing activity expanded at the fastest pace in more than six years in October, final data from IHS Markit showed Thursday. The manufacturing Purchasing Managers' Index rose to an 80-month high of 58.5 in October from 58.1 in September.
   
Natural Gas Spikes, US Inventories Down 4.6% On Year (04/11/2017)
  Natural Gas futures edged up today as a recovery from three month lows extended. Supportive equities, bargain buying and positive cues from other key energy counters like crude oil have been acting as critical factors for the Natural Gas futures. The US Energy Information Administration (EIA) reported Thursday that US natural gas stocks increased by 65 billion cubic feet for the week ending October 27th 2017. The five-year average for the week is an injection of 60 billion cubic feet, and last year’s storage injection for the week totaled 54 billion cubic feet. However, total US stockpiles fell week over week to 4.6% below last year’s level and remain 1.1% below the five-year average. The US working stocks of natural gas totaled about 3.775 trillion cubic feet, around 41 billion cubic feet below the five-year average of 3.816 trillion cubic feet and 180 billion cubic feet below last year’s total for the same period. Working gas in storage totaled 3.955 trillion cubic feet for the same period a year ago. Last week marked the end of the EIA’s official natural gas injection season. From now until April is the withdrawal season, when stocks are drawn down to provide winter heating. About half of all US homes are heated with natural gas and the peak demand would be normally hit around February-March. The prices are currently quoting at $2.95 per mmbtu, up 0.80% on the day. MCX Natural Gas futures are trading at Rs 191.60 per mmbtu, up 0.68% on the day. Powered by Commodity Insights
   
Copper Trading With Minor Gains Under its Belt (04/11/2017)
  Indian Copper was trading at Rs 449.9 per kg, up 0.50%. The prices of Copper tested a high of Rs 450.6 per kg and a low of Rs 445.3 per kg. World number one mining company BHP plans to step up copper exploration and expansions as it wants to be ready to meet electric vehicles sector's rising demand for copper. Unlike most miners, which slashed exploration budgets during the downturn that ended last year, BHP has kept its copper exploration budget steady at an average of $60 million annually over the last four-to-five years out of its overall budget for exploration of around $1 billion. That announcement followed the mining giant's decision last year of raising its annual exploration spending by 29%, allocating nearly all its $900 million budget to finding new copper deposits, to add to a strong portfolio that includes assets such as Escondida in Chile, the world's biggest copper mine, and Olympic Dam in Australia. International Energy Agency (IEA) organization estimates there were 2 million electric vehicles on the world's roads in 2016. But the agency is more moderate than BHP when it comes to projections, as it expects the number of electric vehicles to reach around 40 million by 2040. Chile's state-run copper mining company Codelco could begin to mine lithium in northern Chile in six to seven years, Chilean Mining Minister Aurora Williams said this week. At the start of the year, Codelco announced it was looking for a strategic partner to help exploit lithium reserves at the Maricunga and Pedernales salt fields in Atacama in north Chile's desert region. Lithium is a basic component in electric car batteries, a sector expected to boom in the coming years, and Chile's reserves are estimated to be the world's largest, holding some 14.3 million tons of the mineral and the deposits are also easily accessible. Powered by Commodity Insights
   
Copper Sideways in Opening Session Trades on MCX (26/10/2017)
  Indian Copper futures opened mixed and showed a sideways movement in early moves Thursday. The MCX Copper futures are trading at Rs 456.5 per kg, flat on the day. The prices of Copper declined by 1.08% last session as a drop under Rs 460 extended. Further declines will bring down Copper to Rs 452 per kg. The overall drop in Copper is attributable to investors getting calmer once China's National Communist Party Congress concluded with the announcement that President Xi Jinping will remain in power and few immediate changes should take place in the realm of economic policy. Also dragging on prices were data from Chilean mining association Sonami. According to the organization, the 2018 copper output from the South American country will rise 7% year-over-year. Powered by Commodity Insights
   
Goldcorp Profits Rise, Gold Production Drops 11.50% In Q3 (26/10/2017)
  Goldcorp Inc has announced a rise in third-quarter profit, as well as increased proven and probable reserves. Net earnings were $111 million, or 13 cents per share, up from $59 million, or 7 cents, in the third quarter of 2016, noted the company. Gold production was 633,000 ounces between July and September at all-in sustaining costs of $827 per ounce, compared to 715,000 ounces at AISC of $812 per ounce in the year-ago period, Goldcorp said. The company said its program to implement $250 million of sustainable annual efficiencies by the middle of 2018 is on track, with $200 million expected to be achieved in 2017. More than 100% of the $250 million in efficiencies have been identified, with the program likely to be extended and the efficiency target increased once the company achieves its current target, Goldcorp said. Goldcorp also said it is on track for its 20/20/20 plan for a 20% increase in gold production, 20% increase in gold reserves and 20% reduction in AISC by 2021, while delivering increasing cash flows over the next five years. Powered by Commodity Insights
   
Profit Selling Pulls Copper Lower (25/10/2017)
  COMEX Copper pulled back in Asia after witnessing a massive spurt in last session. Some profit selling emerged in the counter following sharp gains that took the metal near its three and half year highs yet again. A prominent global investment bank raised the 12 month Copper prices estimate above $7000 per ounce for the LME futures. This was sharply higher than the earlier estimates of $5500, according to media reports. Copper soared following this and supportive equities boosted the sentiments even more. The metal eased a bit in Asia though and currently trades at $3.19 per pound, down 0.28% on the day. MCX Copper ended with modest gains at Rs 461 per kg yesterday after a sharp intraday upswing. Expect some weakness today as long as prices stay under Rs 460 levels
   
Natural Gas Supported After Recovering From Two Month Low (25/10/2017)
  US Natural Gas futures are lingering just under $3 per mmbtu levels, approaching its highest mark in nearly one week. According to the latest EIA weekly Natural Gas Storage Report, US Natural gas stocks increased by 51 Bcf last week, rising from 3,595 Bcf to 3,646 Bcf. This is 3.1% less than what was in storage at this point last year and is 1.5% below the five-year average. This week's storage build was roughly in line with expectations but prices have been edging up after testing around two month low near $2.70 mark.
   
Gold Speculative Longs See Marginal Increase After Falling For Four Weeks (23/10/2017)
  Large speculators slightly raised their bullish net positions in the Gold futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Gold futures, traded by large speculators and hedge funds, totaled a net position of 200,724 contracts in the data reported through Tuesday October 17th. This was a weekly increase of just 612 contracts from the previous week. Speculative positions had declined for the previous four weeks before this week’s small rise. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -221,624 contracts on the week. This was a weekly gain of 1,373 contracts. Powered by Commodity Insights
   
Crude Oil Speculative Longs See Sharp Surge (23/10/2017)
  Large oil speculators added to their bullish net positions in the WTI Crude Oil futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 429,525 contracts in the data reported through Tuesday October 17th. This was a weekly surge of 12,464 contracts. The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -431,518 contracts on the week. This was a weekly fall of -11,348 contracts. Powered by Commodity Insights
   

 

 
Commodity D
  Strategy Day Total (30/11/2017)
  Entry Price .
  Target .
  Stop Loss .
Commodity ZINC
  Strategy Buy (30/11/2017)
  Entry Price 204.9 OR CMP
  Target T1/205.7 T2/206.1 T3/206.7
  Stop Loss 204.4
Commodity GOLD
  Strategy Sell (30/11/2017)
  Entry Price 29330 OR CMP
  Target T1/29240 T2/29188 T3/29140
  Stop Loss 29420
Commodity CRUDEOIL
  Strategy Buy (30/11/2017)
  Entry Price 3720 OR CMP
  Target T1/3758 T2/3774 T3/3802
  Stop Loss 3690
Commodity NATURALGAS
  Strategy Buy (30/11/2017)
  Entry Price 204.3 ORCMP
  Target T1/206.5 T2/207.4 T3/208.5
  Stop Loss 202.3
Commodity D
  Strategy Day Total (29/11/2017)
  Entry Price .
  Target .
  Stop Loss .
Commodity NATURALGAS
  Strategy Buy (29/11/2017)
  Entry Price 203.5 OR CMP
  Target T1/205.9 T2/206.5
  Stop Loss 201.2
Commodity NICKEL
  Strategy Sell (29/11/2017)
  Entry Price 725 OR CMP
  Target T1/716.5 T2/709 T3/700.5
  Stop Loss 733
Commodity CRUDEOIL
  Strategy Buy (29/11/2017)
  Entry Price 3717 OR CMP
  Target T1/3749 T2/3762 T3/3763
  Stop Loss 3694
Commodity D
  Strategy Day Total (28/11/2017)
  Entry Price .
  Target .
  Stop Loss
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