Nearly 40 oil and gas company IPOs may debut in the New Year, as rising oil prices stir interest in new drilling, and new equities, according to Tudor Pickering Holt & Co. The two-and-a-half year oil bust has harmed the portfolios of many investors, with companies declaring bankruptcy and many more shareholders losing their investments from falling share prices. The industry consolidation, with high-cost producers forced out of the market and healthier companies on much more solid ground, equity markets are eager for potential new offerings. Tudor Pickering’s CEO Maynard Holt said 2017 may bring IPOs from across the spectrum, from new upstream drillers to pipeline companies. “The number of companies expressing interest in going into this window is really high, and the number of investors saying we’d like to see something different is really high," Holt said. The price of crude oil was $53.71, down 0.06 cents per barrel, or 0.09% on light trading this morning. The price of Brent oil was $56.76, down 0.09 cents per barrel, or 0.16%. According to analysts, oil prices are en route to their best yearly percentage point gain since 2009. Part of this is attributed to the move by OPEC and non-OPEC allies, like Russia, to reduce oil output starting Jan. 1. Oil futures have soared on the news since November. 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 , Give Miss call ☎ @ Toll Free Number 📲 18003157801
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Gold up, set to halt three-year losing streak Spot gold hit its highest in more than two weeks and was up 0.3 percent at USD 1,161.93 an ounce by 0103 GMT. The metal rose over one percent in the previous session, its biggest daily percentage gain since late September. A weaker dollar helped gold extend gains into the final trading session of the year on Friday, leaving it on track to mark its first annual gain in four years. FUNDAMENTALS * Spot gold hit its highest in more than two weeks and was up 0.3 percent at USD 1,161.93 an ounce by 0103 GMT. The metal rose over one percent in the previous session, its biggest daily percentage gain since late September. * Gold has risen over 9 percent so far this year despite an 8 percent drop in November, snapping a three-year losing streak. * The safe haven asset was poised to register its best weekly gains since early June, having risen about 2.5 percent thus far. However, it is down nearly one percent in December, and about 12 percent for the current quarter. * US gold futures rose 0.4 percent to USD 1,163 per ounce. * The dollar index , which measures the greenback against a basket of currencies, fell 0.6 percent at 102.09. * A drop in US exports last month pushed the country's trade deficit in goods higher while the number of Americans filing for unemployment benefits fell last week in a positive sign for the labour market. * The Bank of Japan should be flexible about raising its bond yield target and allow long-term interest rates to increase if such moves reflected improvements in the economy, one of its board members was quoted as saying at this month's rate review. * Top consumer China's net gold imports via main conduit Hong Kong dropped 17.84 percent month on month in November, data showed on Thursday. MARKET REPORT US oil prices rose in early Asian trade on Friday shrugging off a second consecutive week of crude oil inventory builds, with a US Energy Information Administration (EIA) report late on Thursday indicating an unexpected rise in crude stocks. 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 , Give Miss call ☎ @ Toll Free Number 📲 18003157801
In terms of US macro numbers, metro area home prices increased modestly in October, while consumer confidence data rose to its highest level in 15 years. Gold prices are trading on a firm ground even though the dollar gained against the euro, the yen, and the pound. The firming up of the gold prices was helped by weakness in US equities and deadlock over recapitalisation of an Italian bank. It is currently trading at Rs 27,300. In terms of US macro numbers, metro area home prices increased modestly in October, while consumer confidence data rose to its highest level in 15 years. On the negative side, pending home sales for November contracted by 2.5% on mom basis. For the balance of this week, the trading conditions are likely to remain uneventful given the lack of market participation ahead of the year end. The Chinese, a major consumer of gold, and a significant buyer of dollars, in the past, told the media in Beijing that there could be trade friction with the US after the appointment of Prof. Navarro, who has been critical of Chinese trade practices as industrial policy advisor. 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 , Give Miss call ☎ @ Toll Free Number 📲 18003157801
The prices of gold and silver settled higher today on Wall Street. The price of gold was $1140.30, up 0.59%, or $6.50 per troy ounce at settlement on Tuesday. Silver settled higher today too, at $16.01, up 1.56%, or 0.256 per ounce. The settlement was near a two-week high on government inflation data from Japaan. Trading was moderate with investors in the U.S. returning to work after the lengthy Christmas weekend. London markets are still closed. Analysts reckon broad concerns about European bank solvency and uncertainty surrounding President-elect Donald Trump's economic policies will likely bolster gold prices in 2017. Trump today named a new national security advisor for domestic terrorism, Tom Bossert, a former deputy assistant for homeland security to President George W. Bush, but made no economic policy news. But, experts said, the price of gold may slip over the short-term if U.S. bond yields continue to climb. Ten-year U.S. Treasury notes were trading higher late on Tuesday, with yields of 2.563%, an increase of 0.024%. The development was aided by dull Japanese inflation numbers and an impasse over re-capitalisation of the Italian third largest bank. Gold prices moved higher as it was at Rs 27,170, up 0.49%, while silver was trading at Rs 39,118, up 1.57%. The development was aided by dull Japanese inflation numbers and an impasse over re-capitalisation of the Italian third largest bank. In Japan, the core CPI for November contracted by 0.4% on yoy basis, the ninth consecutive decline, indicating that the economy is still deprived of the impetus to attain BOJ’s inflation target rate of 2%. Japanese household spending during November also witnessed an annual contraction of 1.5%. With respect to the Italian banking situation, the European Central Bank (ECB) stated that Italy’s Monte dei Paachi di Siena has a capital shortfall of 8.8 bn euros, larger than the estimated amount of 6.5 bn euros by Italian regulators. On speculative front, CTF reported that funds/non-commercials trimmed their net longs positions on COMEX Gold by 14,994 contracts during last week. On outlook, not many changes are likely to emerge in terms of price trend this week given the thin market participation and light liquidity conditions ahead of the year end. 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 , Give Miss call ☎ @ Toll Free Number 📲 18003157801
Gold prices slumped by Rs 250 to hit over 11-month low of Rs 27,550 per 10 gram at the bullion market here today due to weak demand from jewellers and lower advices from futures trade. Gold prices slumped by Rs 250 to hit over 11-month low of Rs 27,550 per 10 gram at the bullion market here today due to weak demand from jewellers and lower advices from futures trade. Silver also fell by Rs 210 to Rs 38,600 per kg on reduced offtake by industrial units and coin makers. Traders said persistent fall in demand from jewellers and retailers in view of prevailing cash crunch largely weighed on gold prices. The government on November 8 had scrapped old series Rs 500 and Rs 1,000 notes to flush out black money, leading to a cash crunch in the market. Also, investors were clueless about future trends as major world markets such as Singapore, which rule price trends in local markets largely, were closed for holiday. Meanwhile, gold in futures continue to trade below the 27,000 level in afternoon. The February contract of the metal fell to a low of Rs 26,916 per gram on MCX commodity exchange. It was trading lower by Rs 14 at Rs 26,980.00 per 10 gram in afternoon trade. In the local spot market, gold of 99.9 per cent purity plunged by Rs 250 to Rs 27,550 per 10 gram -- a level not seen since February 4 when it had closed at Rs 27,575 per 10 gram. Gold of 99.5 per cent purity too plunged by Rs 250 to Rs 27,400 per 10 grams. The precious metal had lost Rs 150 in the previous three days. Sovereign, traded lower by Rs 100 to Rs 23,900 per piece of eight grams. In tandem with gold, silver ready also lost Rs 210 to Rs 38,600 per kg and weekly-based delivery by Rs 460 to Rs 38,465 per kg. On the other hand, silver coins remained flat at Rs 70,000 for buying and Rs 71,000 for selling of 100 pieces in scattered deals. 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 , Give Miss call ☎ @ Toll Free Number 📲 18003157801
Gold prices edged slightly higher in abbreviated trade ahead of the holiday weekend on Friday, but the precious metal still posted its seventh straight weekly decline as expectations for higher U.S. interest rates in the months ahead weighed. Gold for February delivery on the Comex division of the New York Mercantile Exchange tacked on $2.90, or 0.26%, to end the week at $1,133.60 a troy ounce, not far from an 11-month low of $1,124.30 touched on December 15. For the week, gold futures slumped $3.80, or 0.33%, the seventh straight week of declines, its longest weekly losing streak in more than 12 years. Prices of the yellow metal have fallen sharply since Donald Trump was elected president as a soaring U.S. dollar, rising Treasury yields and a record-breaking rally on Wall Street have damped its appeal. The greenback lost some steam on Friday, slipping from its 14-year-high against a basket of currencies as investors took profits ahead of the end of the year. The dollar index dipped 0.1% to settle at 103.00 by close of trade Friday. The index climbed to 103.62 on Tuesday, the strongest level since December 2002. Market analysts warned that the outlook for gold remains cloudy in the near-term, given expectations for higher U.S. interest rates in the months ahead. The Federal Reserve hiked interest rates for the first time in a year earlier this month and projected three more increases in 2017. The precious metal 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. Both a strong dollar and higher interest rates are typically bearish for gold, which is denominated in dollars and struggles to compete with yield-bearing assets when borrowing costs rise. Also on the Comex, silver futures for March delivery shed 11.2 cents, or 0.7%, on Friday to settle at $15.75 a troy ounce, within sight of an eight-month low of $15.67 logged on Tuesday. On the week, silver lost 29.6 cents, or 2.8%. Meanwhile, platinum dropped 1.55%, to $893.20, marking a weekly decline of 3.7%, while palladium slumped 0.3% to $654.85 an ounce, notching a weekly loss of 6.1%. Elsewhere in metals trading, copper for March delivery dipped 2.0 cents, or 0.82%, on Friday to end at $2.479 a pound, booking a weekly slide of around 3.5%. In the week ahead, trading volumes are expected to remain light due to the Christmas holiday and as many traders already closed books before the end of the year, reducing liquidity in the market and increasing the volatility. The U.S. is to release reports on consumer confidence, pending home sales and jobless claims, as traders look for further indications on the strength of the economy and hints on the future path of monetary policy. Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets. Monday, December 26 Stock markets in Australia, New Zealand, Europe, the U.K., Switzerland, Canada and the U.S. will remain closed, to make up for Christmas Day falling on a Sunday. All floor trading for precious and base metals options will be shut for the Christmas holiday. Tuesday, December 27 Markets in the U.K. and Canada will remain closed for Boxing Day. The U.S. is to release private sector data on consumer confidence. Wednesday, December 28 The U.S. is to release data on pending home sales. Thursday, December 29 The U.S. is to produce data on weekly jobless claims, wholesale inventories and the trade deficit. Friday, December 30 The U.S. is to round up the week with data on manufacturing activity in the Chicago-region. 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 , Give Miss call ☎ @ Toll Free Number 📲 18003157801
The price of gold settled at $1133.30 on Friday, up $2.60 per troy ounce, or 0.23%. News from around the globe may be giving the precious metal, whose price has been tarnished lately, a significant boost. Reports emerged this week that the government of India are poised to cut taxes on gold. The government there is seeking to drop gold import taxes to 6%, a major reduction from the present 10% import tax. The lower taxes are part of a policy to curb gold smuggling, experts said, noting the black market for gold there has grown since taxes were increased earlier this year. Analysts reckon the price of gold may be bolstered if this policy is implemented. Singapore's Sharia-Compliant Gold Futures Other gold policy news is influencing the market price today. This week, the Singapore Exchange launched its first sharia-compliant gold futures contract, develooped to meet all requirements for Islamic finance. This will allow buyers in the Muslim world to ethically wade into the market. Earlier, Bahrain’s Accounting and Auditing Organization for Islamic Financial Institutions released new guidelines on gold and silver purchases for Islamic investors. In another development, Nigerian mines minister Kayode Fayemi said the federal government has obtained $150 million from the World Bank to support a national mining investment fund. Developers of gold, zinc and other metals across Nigeria now have a major source of project funding. 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 , Give Miss call ☎ @ Toll Free Number 📲 18003157801
While both metals are impact by several common factors, commodity experts believe silver could pip gold in the coming months. If you are a commodity investor looking to bet on precious metals, you must be wondering which one of the two top-of-the-mind metals – gold and silver - would be a better investment bet for 2017. While both metals are impacted by several common factors, commodity experts believe silver could trump gold in the coming months. “I think silver is better placed due to drop in production and pick-up in demand of solar panels and electronics sector. Demand from solar panels is soaring from emerging markets and hence silver looks very attractive to us.” Kunal Shah, Head of Commodity Research, Nirmal Bang Commodities, told Moneycontrol. Hareesh V, Research Head, Geofin Comtrade also favours silver. “Price performance of gold and silver usually move in tandem. However, compared to gold, silver has traded at extremely low range since it tested its peak in 2011. Hence, there are chances that silver can perform better in a medium- to long-term basis,” Silver had hit a high of USD 49.51 an ounce in 2011 in the global market. Spot silver has shed almost 72 percent by January 2016 from those peaks. Silver started the year at USD 13.79 an ounce but gained steadily testing a high of USD 21.10 by July, 2016. However, it witnessed a selloff since taking prices to a low of USD 16.14 an ounce by mid-November. Currently prices are ruling around USD 16.72 an ounce, registering year-to-date gains of around 20 percent. In domestic market, MCX silver futures started the year at Rs 33,335 per kg and moved up sharply to Rs 48,611, a gain of over 45 per cent, before retracing to current levels of Rs 38,949, registering a yearly gain of 16 percent. on the other hand, MCX gold futures began the year at Rs 24,931 per 10 grams and is now faring at around Rs 27,000 levels, which is a gain of around 9 percent. It had touched a year’s high of Rs 32,455 in July. At the London spot market, gold was at USD 1,060 an ounce on January 1, 2016, going up to a peak of USD 1,374 in July and sliding to around USD 1,134 an ounce by mid-December. What would move the metals in 2017? Several major domestic and global events defined the movement of the two previous metals during 2016. Saurabh Gadgil, Director, India Bullion and Jewellers’ Association (IBJA) and CMD, PNG Jewellers, says demonetisation has played a big role towards the end of the year. “The industry has gone through a lot of ups and downs this year, beginning with excise imposed early this year. The 41-day industry strike affected gold consumption and revenue loss for the industry. Additional restrictions including PAN card norm for purchases above Rs 2 lakhs brought in mixed reactions across," Gadgil said. "Pre-Diwali offers, promotions and wedding dates helped boost sales. However, demonetisation and other factors including reiteration of limits on gold buying affected the industry again,” he added. Gadgil says investors should keep track of the impact of demonetisation, GST implementation and other government policies regarding purchase and holding the precious metals in 2017. A slew of global factors, too, had their impact on the metals. “Silver is used heavily in industry. The factors that affected silver demand in 2016 was US dollar, silver supply and improved world economy. One of the reasons silver outperformed gold this year was because of rally in commodity prices which has led to increase in demand for silver by manufacturing industries,” Aasif Hirani, Diector, Tradebulls told Moneycontrol. Hirani feels in 2017, both gold and silver in 2017 prices will be impacted by movement of USD and interest rate moves by US Fed. Invest with a longer horizon Commodity experts feel once should have at least a medium-term horizon for investing. “Silver has outperformed gold in 2016 and we expect demand of silver to rise in 2017 for industrial purposes. Also, there will be a lot of uncertainty in 2017, which should be good for gold and silver. However, like gold, we don’t see silver rallying too much in 2017, so anyone with a 3-years should start investing in silver,” says Hirani. Geofin Comtrade’s Hareesh says demand factors will support silver. “Gold’s prices are likely to be lackluster in 2017. A strong dollar after the recent US rate hike and chances of further increase will weigh down prices. Concerns over demand from top consumers like India and China likely to add negative sentiments on prices. However, expectations over global growth forecast would support silver due to its appeal as an industrial metal,” he said. Hareesh feels gold may trade within USD 980-1400 range an ounce in 2017 with mild negative bias, while MCX gold would trade in Rs 22000-30000 range. Silver, on the other hand, is likely to be steady with stiff downside support at USD 12 an ounce and USD 28 on the higher side is likely as a strong resistance. MCX prices of silver may vary inside Rs 32000-62000 per kg levels. 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 , Give Miss call ☎ @ Toll Free Number 📲 18003157801
Gold settled lower as U.S. markets awaited 20,000 Dow Gold prices strained mightily to settle higher, but closed lower for the day as the greenback retreated from a 14-year record. Gold for February delivery, ended the day down 40 cents, a decrease of less than 0.1%, at $1,133.20 per troy ounce. The bad news follows yesterday's disappointing outcome when the precious metal endured another decline, a loss of 0.8%. Gold's price remains weak as the DJIA plods along, attempting to reach the coveted milestone of 20,000. The market closed at a record on Tuesday, and the new highs for equities are lessening the appetite for the precious metal, which is viewed as a safe haven. The commodity has fallen 3.2% thus far this month, hemmed in by a climbing dollar and newly raised interest rates. Advances for the greenback makes the metal more expensive for other currency owners. Rising yields make it slightly more attractive to invest in assets that pay interest, which gold cannot. The dollar on Wednesday also lost footing against many of the other major currencies. The ICE Dollar Index, fell 0.3% to 102.97. The index measures the strength of the dollar against a mixed basket of six currencies. With few trading days left in 2016, gold appears to be headed for a 6% gain for the year, according to market analysts. 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 , Give Miss call ☎ @ Toll Free Number 📲 18003157801
Gold prices edged lower on Tuesday, as the U.S. dollar bounced back toward its 14-year high against a basket of major currencies with markets focused on the possibility of further U.S. interest rate hikes next year. Gold for February delivery on the Comex division of the New York Mercantile Exchange shed $7.95, or 0.7%, to $1,134.75 a troy ounce by 3:25AM ET (08:25GMT), after rising $5.30, or 0.47%, in the prior session. Prices of the yellow metal sank to $1,124.30 last week, a level not seen since February 2. The dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.25% at 103.32 in early trade, coming within sight of its 14-year peak of 103.55 touched last week. A stronger U.S. dollar usually weighs on gold, as it dampens the metal's appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies. Optimistic remarks on the U.S. labor market by Federal Reserve Chair Janet Yellen strengthened the possibility of further rate hikes next year. Speaking at the University of Baltimore’s midyear commencement ceremony Monday, Yellen said recent improvements in the economy have created one of the strongest job markets in years for graduates. The speech came a few days after the U.S. central bank hiked interest rates for the first time in a year and projected three more increases in 2017, up from the two projected in September. Market analysts warned that the outlook for gold remains cloudy in the near-term, given expectations for higher U.S. interest rates in the months ahead. The precious metal 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. Also on the Comex, silver futures for March delivery dipped 18.7 cents, or 1.16%, to $15.90 a troy ounce during morning hours in London, after falling to $15.83 earlier, the lowest since April 11. Meanwhile, platinum slipped 0.2% to $915.50 and palladium dropped 1.44% to $668.92 an ounce. Elsewhere in metals trading, copper futures declined 0.7 cents, or 0.3%, to $2.492 a pound. 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 , Give Miss call ☎ @ Toll Free Number 📲 18003157801
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January 2017
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