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'Farmer' The men behind you
Tuesday, December 31, 2013
Monday, December 30, 2013
Copper finds support
The London Metal Exchange copper price retreated on Monday December 30 after hitting a four-month high last week but positive global macroeconomic data checked any significant falls.
At 02:15 London time, three-month copper was down $13 per tonne from its opening to trade at $7,368 per tonne. The eurozone consumer confidence improved in December to -13.6, the best reading since July 2011 while the GfK consumer confidence in Germany reached 7.6 in January, the highest since August 2007....
Silver lining to China-Russia trade clouds
China-Russia trade has downshifted, rising only 0.5 percent so far in 2013, and concern is growing that trade for the whole year might not grow at all from 2012.
With December's data not due till January, a sharp slowdown of bilateral trade this year is almost certain.
Fundamental Analysis
Silver took a major fall today giving up 439 points or 2.19% to trade at 19.61 taking cue from gold along with a selloff in silver holding by iShares the largest silver ETF in the world.
With December's data not due till January, a sharp slowdown of bilateral trade this year is almost certain.
China-Russia trade value in Jan.-Nov. stood at 81 billion U.S. dollars, up 0.5 percent. The growth rate is more than 10 percentage points down on a year ago, according to China's general customs administration.
During the period, exports to Russia reached 44.56 billion U.S. dollars, up 11.3 percent while Russian exports to China stood at 36.52 billion U.S. dollars, down 10.1 percent.
"The global economic situation is the major cause of the slowdown," said Li Jianmin, a researcher on Russia, Eastern Europe and Central Asia studies at the Chinese Academy of Social Sciences (CASS).
External factors began to effect what was 88.2 billion U.S. dollars of trade in 2012, a record year. Growth that year of 11.2 percent, however was far below the dizzy heights of 42.7 percent and 43.1 percent in 2011 and 2010. The first half of 2013, saw the first contraction of trade since the global financial crisis in 2008, down 1.2 percent. Things have picked up slightly since.
Silver took a major fall today giving up 439 points or 2.19% to trade at 19.61 taking cue from gold along with a selloff in silver holding by iShares the largest silver ETF in the world.
Lower inventory levels send oil up above US$100
Crude-oil futures finished above US$100 a barrel on Friday after
government data showed a greater-than-expected drop in inventory levels
in the past week.
Crude for February delivery rose 0.8% to finish at US$100.32 a barrel on the New York Mercantile Exchange, for a 1% gain on the week.
On the other hand, gasoline for January delivery dropped by less than a penny to settle at just under US$2.82 a gallon after trading higher for most of the day.
Crude for February delivery rose 0.8% to finish at US$100.32 a barrel on the New York Mercantile Exchange, for a 1% gain on the week.
On the other hand, gasoline for January delivery dropped by less than a penny to settle at just under US$2.82 a gallon after trading higher for most of the day.
Market outlook
Although silver has gained price but more or less it has happened because of bottom out hype created by bulls in market otherwise no real reason behind this price rigging only if it gives closing above ₹46k then upside trend can happen
Friday, December 27, 2013
China Seeks Comments on Revisions to Foreign Investment Laws
China’s Ministry of Commerce (MOFCOM) is mulling over revising the country’s foreign #investment laws and is currently soliciting comments
Thursday, December 26, 2013
Indian Rupee Falls
Indian rupee weakened against the US dollar in morning deals on Thursday.
The rupee fell to a 2-day low of 61.915 against the greenback. Further weakness could help the rupee to find support at the 62.6 area.
The rupee fell to a 2-day low of 61.915 against the greenback. Further weakness could help the rupee to find support at the 62.6 area.
Tuesday, December 24, 2013
Russia Central Bank
The U.S. Federal Reserve's decision to scale back economic stimulus won't have a big effect on Russia's financial system."We do not foresee any significant effect or risks, and there is no need to factor (the tapering) into our monetary policy," Kseniya Yudayeva
Emerging-market currencies dropped in the days after the announcement. Stock markets in Brazil, Indonesia and other emerging economies also slumped. Ms. Yudayeva said the ruble exchange rate won't be affected much. Capital outflow from Russia is driven by internal factors and likely won't increase considerably, she said.
She said the bank has no plans to support the Russia currency and that its stress tests show the financial system can withstand external shocks from the tapering.
Emerging-market currencies dropped in the days after the announcement. Stock markets in Brazil, Indonesia and other emerging economies also slumped. Ms. Yudayeva said the ruble exchange rate won't be affected much. Capital outflow from Russia is driven by internal factors and likely won't increase considerably, she said.
She said the bank has no plans to support the Russia currency and that its stress tests show the financial system can withstand external shocks from the tapering.
Rmseed downtrend
Rmseed calendar spread between current & far month contract has risen from discount of ₹160 to ₹170 which signalled downtrend
Monday, December 23, 2013
Gold downtrend
#Gold far month contract is nearly trading at discount of ₹650 which is not a good sign caution for buyers
Friday, December 20, 2013
Gold Sinks Below $1,200
The price of gold slumped below $1,200 an ounce Thursday, a day after the Federal Reserve said it would pull back on its stimulus program.
Gold went as high as $1,900 an ounce in August 2011 partly because traders feared that the Fed’s efforts to support the U.S. economy with easy money policies would cause inflation. That never happened.
The price of silver also fell sharply. The March contract fell 87.3 cents, or 4.4 percent, to $19.186 an ounce.
High-grade copper for March delivery fell 2 cents, or 0.7 percent, to $3.2955 a pound. March palladium fell $3.15, or 0.5 percent, to $693.30 an ounce and January platinum fell $24.30, or 1.8 percent, to $1,318.40 an ounce.
In other trading, crude oil rose 97 cents, or 1 percent, to $98.77 a barrel.
Wholesale gasoline futures rose 4 cents to $2.74 a gallon and heating rose 2 cents to $3.03 a gallon. Natural gas rose 21 cents to $4.46 per 1,000 cubic feet.
Gold went as high as $1,900 an ounce in August 2011 partly because traders feared that the Fed’s efforts to support the U.S. economy with easy money policies would cause inflation. That never happened.
The price of silver also fell sharply. The March contract fell 87.3 cents, or 4.4 percent, to $19.186 an ounce.
High-grade copper for March delivery fell 2 cents, or 0.7 percent, to $3.2955 a pound. March palladium fell $3.15, or 0.5 percent, to $693.30 an ounce and January platinum fell $24.30, or 1.8 percent, to $1,318.40 an ounce.
In other trading, crude oil rose 97 cents, or 1 percent, to $98.77 a barrel.
Wholesale gasoline futures rose 4 cents to $2.74 a gallon and heating rose 2 cents to $3.03 a gallon. Natural gas rose 21 cents to $4.46 per 1,000 cubic feet.
Thursday, December 19, 2013
FED ANNOUNCES IT WILL BEGIN DRAWDOWN OF QUANTITATIVE EASING
The Federal Reserve on Wednesday sent its strongest signal of confidence in the U.S. economy since the Great Recession, deciding that the nation’s economic prospects are finally bright enough to withstand a slight pullback in stimulus spending
Yet the Fed also made clear that it will keep supporting an economy that remains less than fully healthy. It will continue to keep interest rates low and try to boost unusually low inflation, which can be a drag on spending and borrowing
In a statement after a two-day policy meeting, the Fed said it would trim its $85 billion a month in bond purchases by $10 billion starting in January. Bernanke said the bank expects to make “similar moderate” cuts in its purchases if economic gains continue
Immediately after the Fed said it would reduce the pace of monthly asset purchases to $75 billion from $85 billion, #gold prices fell from their Comex settlement price then recovered to trade a bit higher
The bond-buying program, also known as quantitative easing, has been a supportive factor for gold prices so some analysts expected that a decision to taper the program would pressure gold prices
Yet the Fed also made clear that it will keep supporting an economy that remains less than fully healthy. It will continue to keep interest rates low and try to boost unusually low inflation, which can be a drag on spending and borrowing
In a statement after a two-day policy meeting, the Fed said it would trim its $85 billion a month in bond purchases by $10 billion starting in January. Bernanke said the bank expects to make “similar moderate” cuts in its purchases if economic gains continue
Immediately after the Fed said it would reduce the pace of monthly asset purchases to $75 billion from $85 billion, #gold prices fell from their Comex settlement price then recovered to trade a bit higher
The bond-buying program, also known as quantitative easing, has been a supportive factor for gold prices so some analysts expected that a decision to taper the program would pressure gold prices
Tuesday, December 10, 2013
US Dollar Weakens Against Most Majors
The US dollar fell sharply against most major opponents in the Asian session on Tuesday, even though the possibility of reduction in the Federal Reserve's bond purchase program loomed near.
Following a raft of upbeat US economic data last week, the traders have been pricing a withdrawal of stimulus measures in the near future. The comments from Federal Reserve officials yesterday supported the view that Fed may start tapering as early as next meeting.
Following a raft of upbeat US economic data last week, the traders have been pricing a withdrawal of stimulus measures in the near future. The comments from Federal Reserve officials yesterday supported the view that Fed may start tapering as early as next meeting.
The Federal Reserve may taper their USD85 billion dollar per month asset purchase plan next week in response to better-than-expected jobs growth, said James Bullard, the president of the St. Louis Federal Reserve Bank.
A small taper might recognize labor market improvement while still providing the [Fed] the opportunity to carefully monitor inflation during the first half of 2014," Bullard said.
The risks associated with the Federal Reserve's unprecedented support measures are beginning to outweigh further benefits, according to Richmond Fed President Jeffrey Lacker.
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