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As on Jul 16, 2018 12:00 AM Your results on : Pre Session    
Energy Preview: Domestic Crude Oil Demand Supply Dynamics Tight, Imports Soaring
16-Jul-2018 (10:14)
Precious Metals Preview: Indian Gold Imports Stay Tepid
16-Jul-2018 (10:10)

COMEX Gold slipped to fresh seven month low on Friday amid a renewed wave of strength in US dollar and the firm undertone in global equities. Steady output numbers from junior miners also weighed on the metal. The Indian demand is not rising as a sizeable correction in recent months in global prices had not translated into a meaningful drop in local prices. India's Gold imports came in at Rs 16169 crore in June 2018, up 2.25% on year. Silver imports soared 115% though, coming in at Rs 2469 crore. COMEX Gold is currently trading at $1243 per ounce, up 0.19% on the day. MCX Gold futures ended at Rs 30100 per 10 grams, after testing a low around Rs 30000 per 10 grams.

US stocks turned higher on Friday as the Nasdaq hit a new record high and the S&P 500 edged up to its best closing level in five months. Major indices in Europe also saw with good gains. Global equities have carved out steady upside on bargain buying and supportive economic data even as the broad world trade concerns remains in place. The US has slapped 25% tariff on $US34 billion worth of Chinese goods and the President Donald Trump has threatened tariffs on $US500 billion worth of Chinese imports. However, risk sentiments was supported despite these worries and an impressive rally took the tech heavy Nasdaq Composite to an all-time high. Investors are likely to focus on the corporate earnings season for further cues now.

For local Gold demand, traders are betting on a pickup in Indian buying in festive season following robust increases in Minimum Support Prices for Kharif crops. A recent revival in monsoon is also triggering hopes of robust rural earnings. According to the ASSOCHAM, better realisations for farmers' crops would leave more disposable income with them and would thus give a huge rural demand push to the Indian economy, giving a significant multiplier effect for a large number of sectors like FMCG, agri implements, irrigation equipment, two-wheelers and others.

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Economic Buzz: China Quarterly GDP Registers Strongest Expansion In 3 Quarters
16-Jul-2018 (09:03)
USDA Cuts BlackSea Oilseeds Production For MY 2018/19
16-Jul-2018 (09:02)
Economic Buzz: New Zealand Services PMI Weakens Sharply In June
16-Jul-2018 (08:47)
Base Metals Preview: Copper Still Facing Heat of Trade Tensions
16-Jul-2018 (07:42)
Economic Buzz: US Import Prices Dip, Export Prices Edge Up
14-Jul-2018 (09:12)
Economic Buzz: US Consumer Sentiment Deteriorates In July
14-Jul-2018 (08:56)
Commodities Buzz: Global Corn Production To Increase Marginally In 2018/19
13-Jul-2018 (11:53)
Base Metals Preview: Copper Seeks Revival On Strength In Equities
13-Jul-2018 (10:18)
Precious Metals Preview: Gold Hurt By Weak Technical Picture
13-Jul-2018 (10:04)
Energy Preview: MCX Crude Ends Down Half A Percent
13-Jul-2018 (10:01)
Economic Buzz: New Zealand Manufacturing PMI Expands At Slower Pace In June
13-Jul-2018 (09:11)
Economic Buzz: India Industrial Production Decelerates In May
13-Jul-2018 (09:07)
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