Crude oil prices rebounded mildly in Asia on Wednesday after a draw reported in industry inventory data from the U.S. and as speculation swirls on OPEC's production plans ahead of a crucial meeting in Vienna. U.S. crude oil on the New York Mercantile Exchange traded at $45.39 a barrel, up 0.35%. Prices were weighed Tuesday by conflicting media comments that call into question OPEC's ability to come to agreement about a cut in production. OPEC members will meet Wednesday in Vienna, Austria. The American Petroleum Institute late Tuesday said crude oil inventories fell 720,000 barrels last week, 120,000 barrels more than expected and which followed a draw of 1.28 million barrels the previous week. Overnight, oil prices fell more than 3% on Tuesday, extending early losses amid growing doubts that the Organization of the Petroleum Exporting Countries will be able to reach an agreement on a deal to curb output. Global benchmark Brent futures on London's Intercontinental Exchange were last quoted at $47.24 a barrel. OPEC is attempting to get its 14 member states, along with non-OPEC member Russia, to implement coordinated production cuts aimed at reducing a global supply glut that has seen prices more than halve since 2014. Oil came under renewed selling pressure after Indonesia’s energy minister said Tuesday he’s “not optimistic” that OPEC will agree on a deal to rein in oversupply. In September the producer cartel reached an agreement that would reduce production to between 32.5 million and 33 million barrels per day. The organization is to hold a key meeting in Vienna on Wednesday, where the deal was expected to be rubber stamped. But reaching a deal has proved problematic, amid disagreements over which producers should cut and by how much. Technical talks between OPEC members on Monday failed to reach an agreement on output cuts, with Iraq and Iran - OPEC’s second and third-largest producers – resisting pressure from Saudi Arabia to reduce production. Most analysts still believe OPEC will sign an accord to cut output, but doubts remain over whether it will be enough to support the market. Morgan Stanley (NYSE:MS) said Tuesday it still sees a deal as likely but added that the risks of failure have risen. “A strong announcement from OPEC to cut meaningfully could lift oil to $50 or more over the following days, particularly if supported by strong words from non-OPEC, before focus shifts to execution risk, sustainability and any non-OPEC supply response” analysts at Morgan Stanley wrote. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , call ☎ @ Toll Free Number 📲 18003157801 or fill form 🔗 https://www.tradeindiaresearch.com/freetrial.php
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Gold prices inched up in Asia on Tuesday with the dollar in focus as it mildly retraces sharp gains in the past month on the suprise win of U.S. president-elect Donald Trump and widespread expectations for a Fed rate hike in December. Gold for December delivery rose 0.10% to $1,192.00 a troy ounce on the Comex division of the New York Mercantile Exchange. As well, silver futures gained 0.29% to $16.723 atroy ounce, while copper futures jumped 0.49% to $2.672 a pound. Overnight, gold prices rose more than 1% on Monday, rebounding from nine-and-a-half month lows as the dollar reversed some of its post U.S. election gains after surging to almost 14-year highs last week. The dollar slipped lower on Friday as traders took advantage of the holiday-shortened week to take profits after a powerful rally propelled it to the highest level since April 2003. Dollar selling resumed on Monday as investors looked ahead to potentially risky events such as Wednesday’s OPEC meeting and Italy’s upcoming constitutional referendum on December 4, which could see the government resign.Investors were also looking ahead to a raft of U.S. economic data this week, including Friday’s nonfarm payrolls report for November. Gold is priced in dollars and becomes more attractive to holders of other currencies when the dollar falls. Prices of the yellow metal have fallen around 6% so far this month on expectations that increased U.S. fiscal spending under a Trump administration will spur economic growth and inflation, which would ultimately lead to an era of higher interest rates. Gold is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar in which it is priced. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , call ☎ @ Toll Free Number 📲 18003157801 or fill form 🔗 https://www.tradeindiaresearch.com/freetrial.php
Gold prices gained in early Asia on Monday as investors focused on the recent declines as an opportunity to buy. Gold for December delivery on the Comex division of the New York Mercantile Exchange rose 0.73% to $1,187.00 a troy ounce. Silver futures on the Comex were flat at $16.554 a troy ounce, while copper futures dipped 0.24% to $2.657 a pound. This week brings U.S. nonfarm payrolls report for November on friday as well as data on U.S. economic growth and manufacturing for fresh indications on the likelihood of a December rate hike. Investors will also be watching euro zone inflation data and manufacturing reports out of the U.K. and China. On Monday, European Central Bank President Mario Draghi is due to testify about the ECB’s outlook on economic and monetary developments and the consequences of Brexit to the Economic Committee in the European Parliament. Last week, gold prices closed at the lowest level in nine months on Friday as expectations for higher U.S. interest rates continued to cloud the demand outlook for the precious metal. Safe haven demand for gold has been hit since the U.S. presidential election amid expectations that increased fiscal spending and tax cuts under the Trump administration will spur economic growth and inflation. Faster growth would spark inflation, which in turn would prompt the Federal Reserve to tighten monetary policy a faster rate than had previously been expected. The precious metal has also been weighed down by bets that a rate hike by the Fed in December is a near certainty. According to Investing.com's Fed Rate Monitor Tool, 95.4% If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , call ☎ @ Toll Free Number 📲 18003157801 or fill form 🔗 https://www.tradeindiaresearch.com/freetrial.php
A scarcity of cash at foreign exchange outlets in airports, coupled with the government’s latest move to cap the quantum of exchange as part of its demonetisation drive, may cause inconvenience to foreign tourists flying in and out of India. A scarcity of cash at foreign exchange outlets in airports, coupled with the government’s latest move to cap the quantum of exchange as part of its demonetisation drive, may cause inconvenience to foreign tourists flying in and out of India. The latest directive from the Reserve Bank of India (RBI) on Friday said foreign passport holders can exchange foreign currency for Indian notes up to a limit of Rs 5,000 per week till December 15. This is “subject to the tenderer submitting a self-declaration that this facility has not been availed of during the week. The authorised person shall keep the passport details and the above declaration on record,” the RBI circular said. According to currency exchange companies, the allowed amount is much lower than what tourists usually ask for at their airport kiosks. For instance, CentrumBSE -0.75 % Direct, the foreign exchange arm of Centrum Group, gets 14,000-15,000 foreign tourist arrivals per day at its 17 foreign exchange bureaus at Indian airports. Before the demonetisation drive, foreign passport holders were allowed to exchange up to $3,000 (Rs 2 lakh) and Indian passport holders up to $1,000 (Rs 68,000), said Centrum’s managing director TC Guruprasad. Mahesh Iyer, chief operating officer at Thomas CookBSE 0.05 % (India), said their airport kiosks are complying with the latest RBI order. “At our city outlets, encashments continue to be limited, with exceptions being made for medical emergency cases. For all encashment requests from Indian nationals, our transactions have been facilitated through cheque payments or bank transfer only." The problem is even bigger for outgoing tourists wanting to re-exchange rupee into their own currencies. For those who are carrying the obsolete Rs 500 to Rs 1,000 denominated notes, there is a cap of Rs 5,000 per tourist. Centrum gets about 250-300 such tourists coming for re-encashment across its 17 airport bureaus everyday. The average demand for re-encashment per passenger is $300 (Rs 20,400). “The number of footfalls of outgoing foreign tourists will now increase to about 1,000 everyday as people are going back to their home countries after Thanksgiving on Thursday,” he added. The cash crunch at these kiosks is a reality. Centrum Direct, for instance, needs to maintain a total stock of at least Rs 25 crore at any given point at its airport bureaus. But after the demonetisation move, it is able to stock only up to a fifth of that requirement. “Airport bureaus are still better off. Withdrawal limits for exchange counters in the cities are capped at Rs 50,000 per week. So that’s even worse,” said Guruprasad. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , call ☎ @ Toll Free Number 📲 18003157801 or fill form 🔗 https://www.tradeindiaresearch.com/freetrial.php
International Brent crude oil futures were trading at USD 48.97 at 0102 GMT, down 3 cents from their last close. Oil trading was static early on Friday as uncertainty ahead of a planned OPEC-led crude production cut and thin liquidity after the US Thanksgiving holiday kept traders from taking big new positions. International Brent crude oil futures were trading at USD 48.97 at 0102 GMT, down 3 cents from their last close. US West Texas Intermediate (WTI) crude futures were at USD 47.97 per barrel, up 1 cent from their last settlement. Traders said market activity was low due to the US holiday, while there was a reluctance to take on big price directional bets because of uncertainty about the planned oil output cut, led by the Organization of the Petroleum Exporting Countries (OPEC). OPEC is due to meet on Nov. 30 to coordinate a cut, potentially together with non-OPEC member Russia, but there is also disagreement within the producer cartel as to which member states should cut and by how much. "Crude oil prices treaded water as OPEC and non-OPEC members spent more time in preliminary meetings ahead of the Vienna gathering ... Investors look like they are sitting on the sidelines as they await the OPEC meeting in Vienna next week," ANZ bank said on Friday. Most analysts believe that some form of a production cut will be agreed, though it is uncertain whether this will be enough to prop up a market that has been dogged by a fuel supply overhang for over two years. Beyond OPEC, traders said the strong US-dollar, which this month has hit levels last seen in 2003 against a basket of other leading currencies, was influencing oil prices. A strong dollar, in which oil is traded, makes fuel purchases more expensive for countries using other currencies at home, potentially crimping demand. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , call ☎ @ Toll Free Number 📲 18003157801 or fill form 🔗 https://www.tradeindiaresearch.com/freetrial.php
The Board would inter alia consider “Issue of Bonus Shares” in the Board Meeting scheduled to be held on November 28. Oil India Ltd is currently trading at Rs 442, up by Rs 14.75 or 3.45% from its previous closing of Rs 427.25 on the BSE. The Board would inter alia consider “Issue of Bonus Shares” in the Board Meeting scheduled to be held on November 28. The scrip opened at Rs 438 and has touched a high and low of Rs 444.2 and Rs 437.05 respectively. So far 334049 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 25683.53 crore. The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 432 on 22-Nov-2016 and a 52 week low of Rs 300.5 on 01-Mar-2016. Last one week high and low of the scrip stood at Rs 432 and Rs 404.75 respectively. The promoters holding in the company stood at 67.64 % while Institutions and Non-Institutions held 17.05 % and 15.3 % respectively. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , call ☎ @ Toll Free Number 📲 18003157801 or fill form 🔗 https://www.tradeindiaresearch.com/freetrial.php
Gold trade fails to take advantage of the price of the yellow metal falling 7.33% since November 8 to Rs 29,076 per 10 gm. The demonetisation move has brought down business by 75% in last two weeks. In addition, the fear of taxmen knocking the door is looming largely on them, which has dampened the mood in the market. All jewellers have been asked to refrain from selling gold in exchange of old Rs 500 and Rs 1000 notes and bring it to the notice of the authority. Talking to ET, Sreedhar GV, chairman, All India Gem & Jewellery Trade Federation (GJF), "We are trying to get in touch with the finance ministry. Last week the ministry was busy with the demonetisation issue. We are trying to meet them this week. Our business is down by 75% since November 9. We are worried as one crore people are attached to the trade." While the trade is visibly worried over falling sales, analysts feel that price of gold is expected to fall further internationally. However, in rupee terms, gold prices may not fall in tandem with international prices as rupee depreciates against dollar. Shekhar Bhandari, business head for global transactions and precious metals at Kotak Mahindra BankBSE 0.25 % said "There are chances for prices to weaken below $1,200 per troy ounce in the next few weeks to $1175 -$1180 per troy ounce leading into the Federal Open Market Committee meeting on December 14." If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , call ☎ @ Toll Free Number 📲 18003157801 or fill form 🔗 https://www.tradeindiaresearch.com/freetrial.php
International Brent crude oil futures rose as high as USD 49.43 per barrel early on Tuesday, their highest since Oct. 31, and they were trading at USD 49.33 per barrel at 0110 GMT, up 43 cents, or 0.9 percent, from their last settlement. Oil prices rose to their highest level since October on Tuesday as the market priced in a potential output cut led by producer cartel OPEC, although analysts warned that a failure to agree a cut could lead to a ballooning supply overhang by early 2017. US West Texas Intermediate (WTI) crude futures were up 44 cents, or 0.9 percent, at USD 48.68 a barrel. The Organization of the Petroleum Exporting Countries (OPEC) is trying by Nov. 30 to bring its 14 member states and non-OPEC producer Russia to agree on a coordinated production cut to prop up the market by bringing production into line with consumption. "With investors becoming more optimistic about OPEC reaching an agreement on production cuts, oil prices should continue to edge higher in trading today," ANZ bank said on Tuesday. Goldman Sachs said in a note to clients that the chances of an OPEC cut had increased as producers needed to react to eroding supply and demand fundamentals, which the bank said "have weakened sharply since OPEC announced a tentative agreement to cut production." Should OPEC and other producers, especially Russia, fail to agree a cutback, Goldman said it expected an oil supply surplus of 0.7 million barrels per day (bpd) for the first quarter of 2017. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , call ☎ @ Toll Free Number 📲 18003157801 or fill form 🔗 https://www.tradeindiaresearch.com/freetrial.php
International Brent crude oil futures were trading at USD 47.35 per barrel at 0023 GMT, up 49 cents, or 1.05 percent, from their last settlement. Oil prices rose around 1 percent on Monday as producer cartel OPEC moved closer to an output cut to rein oversupply that has kept prices low for over two years. International Brent crude oil futures were trading at USD 47.35 per barrel at 0023 GMT, up 49 cents, or 1.05 percent, from their last settlement. US West Texas Intermediate (WTI) crude was up 0.98 percent, or 44 cents, at USD 46.14 a barrel. Traders said that markets were being supported by advancing plans by the Organization of the Petroleum Exporting Countries (OPEC) to cut production in a bid to prop up the market following over two years of low prices as a result of output exceeding demand. Such a deal has proved tricky to agree as some producers, most notably Iran, have been reluctant to cut output. But an agreement has become more likely as Iran, keen to increase output after international sanctions against it were lifted last January, was expected to be given an exemption if it agrees to cap its production rather than cutting it, leaving the onus of a an outright reduction on other OPEC-members, including its political rival and de-facto OPEC-leader Saudi Arabia. As a result, Barclays said that some form of production cut deal was likely, but the bank added that any such agreement might have little impact on markets. "We expect OPEC to agree to a face-saving statement," the British bank said, but added that "US tight oil producers can grow production at USD 50-55 (per barrel) and will capitalize on any opportunity afforded to them by an OPEC cut". Beyond the talk of a potential production cut, there were also signs of ongoing market weakness. Japan, the world's fourth biggest oil consumer, on Monday reported a fall of 9.5 percent in crude oil imports in October from the same month a year earlier, to 2.78 million barrels per day. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , call ☎ @ Toll Free Number 📲 18003157801 or fill form 🔗 https://www.tradeindiaresearch.com/freetrial.php
India is and will remain a key partner of America which is going to remain completely focused on improving and strengthening the bilateral ties during the remainder of the Obama administration, the US has said. India is and will remain a key partner of America which is going to remain completely focused on improving and strengthening the bilateral ties during the remainder of the Obama administration, the US has said. "We greatly value and respect the relationship we have with India today and the one that we have worked very, very hard at improving and strengthening," State Department Spokesperson John Kirby said. "We are going to stay completely focused on that for the remainder of this Obama administration," Kirby said yesterday as he welcomed new Indian Ambassador to the US Navtej Sarna. "We welcome the new ambassador and we look forward to working closely with him as he settles into his new duties, but I can tell you that nothing is going to change for the remainder of Secretary of State (John) Kerry's tenure about the very keen focus that we are going to continue to place on our bilateral relationship with India. "What happens after the inauguration of our new president is really for the new administration to speak to," he said. Kirby said there is no question that India remains and will remain a key partner in that part of the world and that strong bilateral relations will need to continue. "But what it looks like, the form and content and shape, I could not possibly predict what that is," he added. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , call ☎ @ Toll Free Number 📲 18003157801 or fill form 🔗 https://www.tradeindiaresearch.com/freetrial.php
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