Gold Silver Reports (GSR) – Natural Gas on MCX settled down 1.08% at 156 dropped as the Indian rupee gains by another 39 paise to 68.50 a U.S. dollar, tracking firmer emerging market currencies, lower crude oil prices while International Natural gas prices did very little during the trading session as it was a major holiday in the United States.
MCX Live Tips – MCX Natural Gas Futures Prices Above 160 Buy Buy 500—1000 Lots – Neal Bhai
From the weather side a hot US pattern through Saturday with highs in the upper 80s to lower 90s from the Great Lakes to the Northeast, including Chicago and NYC.
The Southwest will be hottest w/highs into the 100s, although the nation’s strongest demand will be across the Southeast and Mid-Atlantic Coast as highs reach the mid-90s, while combining with high humidities to push the Heat Index into the 100s. The Northwest & N. Plains will be mostly comfortable w/highs of upper 70s to 80s.
Demand will ease early next week as cooling arrives across the Midwest. Overall, demand will be HIGH through Saturday, then easing to MODERATE. In recent pase U.S. natural gas prices have collapsed since the end of winter, even as inventory levels remain below average levels for this time of year.
