Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Union Budget
Budget 2011-2012 Home
Industry Expectations - Budget 2011-2012
Industry Reactions - Budget 2011-2012
Budget 2010-2011
Budget 2010-2011 Home
Industry Expectations - Budget 2010-2011
Industry Reactions - Budget 2010-2011
Contributor's Corner
Bonanza Portfolio
Hemant K Gupta
Krish Bhatt
S A A R T H I
Trinity Investments
Exchange Information
BSE 2009 Holidays
NSE 2009 Holidays
Investor Guide
Depository & Dematerialisation
Grievance Redressal
Investor Guide
SEBI
Trading of Securities
Transfer of Securities
Your Rights
Budget 2009-2010
Budget 2009-2010 Home
Industry Expectations - Budget 2009-2010
Industry Reactions - Budget 2009-2010
Interim Budget 2009-2010 Home
Industry Expectations - Interim Budget 2009
Budget 2008-2009
Railway Budget 2008-2009
Industry Expectations - Budget 2008
Union Budget 2008-2009
Highlights of Budget 2008-2009
Summary of Budget 2008-2009
Industry Reactions - Budget 2008
IPOs
Current IPOs
Past IPOs
IPO Subscription
Mutual Funds
Gold Exchange Traded Fund
MF Unique Holding
Forthcoming Dividends
ELSS Schemes Comparison
Tax Plans
New Fund Offers
Research
Arbitrages
Equity
Market Whispers
Tax Planning
Home
Equity Linked Savings Scheme
Post Office MIS
9% GOI Senior Citizens Savings Scheme
8% Savings (Taxable) Bonds
Kisan Vikas Patra
National Savings Certificate
Public Provident Fund
Commodities

| More

View On Gold: AnandRathi Commodities Ltd

Posted On: 2015-07-22 20:28:58

Mr. Ravindra Rao ( Head - Commodity Research, AnandRathi Commodities Ltd) on Gold:

Gold fell to its lowest since 2010 as a strong US dollar and a temporary end to the Greece debt crisis weighed on the bullion. The US dollar has proved to be the best performer against the major basket of currencies as the receding concerns over Greece and the Federal Reserve Chair Janet Yellen's strong intentions of a probable rate hike this year prompted investors to keep their focus on the safer currency, the greenback. According to Bloomberg, Fed Funds futures showed a 31% chance that the central bank would raise its benchmark rate in September from virtually zero. Higher bank rates cut the appeal of precious metals because the latter don't pay interest or give returns as other assets such as bonds and equities do. This has kept up the pressure on the yellow metal as commodities denominated in dollars tend to move lower with the dollar's appreciation.

Uncertainty about Greece came to an end as the debt-ridden country obtained a new lifeline from its European creditors. This has bolstered stocks around the globe as traders dumped safer assets such as gold and entered riskier ones such as equity.

A historic nuclear agreement between Tehran and the West was reached in Vienna. Under the agreement, restrictions imposed by the United States, the European Union and the United Nations are to be lifted in exchange for curbs on Iran's nuclear programme. The safe-haven status that has been built up in gold due to the financial and political crises has faded now and money has already started flowing into riskier assets such as equities.

Investment demand is weak. Domestic sentiment has turned extremely bearish as Federal Reserve chairperson Janet Yellen reiterated her hawkish outlook for an initial interest-rate hike this year, bringing down physical demand. Indian gold imports in June have dipped by almost 37% cent, to $1.96 billion. Imports of the precious metal were $3.12 billion in the same month of 2014. In May this year, imports were $2.42 billion.

Aside from the weak fundamental picture, technical's also point towards bearishness in the metal. $Spot Gold has penetrated the strong support of $1128/Oz, a neckline support of an Head and Shoulder pattern. It's a strong bearish formation and the target comes to $990/Oz. On the domestic front, considering the current rupee dollar conversion, gold price could fall in the range of Rs.24000-23500.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Base metals bear the brunt of macro economic woes: Angel Broking
NCDEX coriander sinks to 15 months low on higher supplies: Angel Broking
Oil in a Catch 22 situation - will prices recovers? - Angel Broking
Gold movement ahead of Akshaya Tritiya - Aurobinda Prasad Gayan, VP Research at Kotak Commodities
Sugar prices to remain under check on stock limits, imports and higher production forecast for next year: Angel Broking
Uncertainty will continue to drive precious metals higher: Angel Broking
Castor seed prices rise on lower production forecast and short covering: Angel Broking
Edible oil prices under pressure in 2017: Angel Broking
Cotton looks bearish on higher stocks, good acreage forecast; weather will be the key: Angel Broking
Geo-political risks lift oil prices: Angel Broking
Geo-political risk and uncertainty in US policy and increase in speculative activity cheers gold prices: Angel Broking
Jeera bullish on lower production, higher exports: Angel Broking
High supplies drag oilseed prices lower: Angel Broking
Sugar sector balance sheets set to turn sweeter - CRISIL
Sugar prices heading for highest weekly gains in 3 months: Angel Broking
Jeera price surge to two month high on higher export prospects: Angel Broking
Supply concerns ease; Copper sneeze: Angel Broking
Castor seed surges on weaker output, higher exports prospects: Angel Broking
Cotton prices to stay firm despite recent correction: Angel Broking
Oil prices at three month lows - Will it recover? Angel Broking
Gold prices heading for a correction now - Angel Broking
Gold prices heading for a correction now: Angel Broking
RMseed prices rise mostly on short covering and rolling over: Angel Broking
Edible oil continue to fall on Commodity Exchanges: Angel Broking
NCDEX Guarseed and Refsoyoil may trade higher: Angel Broking
Views on Cotton - Geofin Comtrade
Gold not likely to glitter in 2016 - Amit Rathi
View on Sugar - Ms. Pallavi Munankar - Research Analyst, Geofin Comtrade Ltd.
Views on Gold schemes - Geofin Comtrade Ltd.
'Gold exposed to further pressures' - ForexTime.com
Views of Geofin Comtrade Ltd on SEBI-FMC merger
Cabinet's approval on Gold monetization and Sovereign Gold Bond Scheme - Geofin Comtrade Ltd
Bullions, Base Metal & Energy - Geofin Comtrade Ltd.
Global crude oil price of Indian Basket was US$ 59.19 per bbl on 26.02.2015
Raw Sugar Export Incentive - A Helping Hand for the Sugar Industry
Trend of MCX Copper November future is in consolidation
MCX Crude October future could test the levels 5420/5250 if sustains below 5550 levels
MCX Gold October future continues bearish trend
Trend of MCX Copper November future is in consolidation and also sustaining in range
5600/5350 will act as major supports levels for MCX Crude oil September futures
MCX Gold October future is in bearish trend
Gold to trade on negative note on weak rupee
MCX Copper August future to face resistance at 428/440
5600/5350 to act as major support levels for MCX Crude oil September Futures
Gold Futures pulled away from 2-month lows
Trend of MCX Copper August future is in consolidation
U.S. crude oil futures fell further below $103 early on Friday
MCX Gold August future is in consolidation
MCX Copper August future is in consolidation and also sustaining in range
6500/6880 will act as major resistance in MCX Crude oil July futures


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2017