Gold Silver Reports — Crude oil futures witnessed a heavy tumble as rising output from the US remained a threat to efforts by other major producers to rebalance the market.
INDIAN RUPEE: REVERSES FOUR-DAY CLIMB
Gold Silver Reports — The Indian rupee edged slightly lower against the dollar in early hours on Friday, 17 March 2017, reversing its 4-day climb, as the American currency got some of its lure back among banks and importers. The dollars strength overseas weighed, but a higher opening in domestic equities cushioned the impact.
GOVERNMENT AGENCIES MAINTAINS 15.33 LAKH TONNES OF PULSES BUFFER AS ON 14TH MARCH, 2017
Gold Silver Reports — As per the official data, as on 14.03.2017, Government has created a buffer of around 15.33 lakh tonnes of pulses including 4.01 lakh tonnes contracted for imports.n++ — GOVERNMENT AGENCIES MAINTAINS 15.33 LAKH TONNES OF PULSES BUFFER AS ON 14TH MARCH, 2017
COPPER RECOVERS ON INFRASTUCTURE PLANS OF US
Gold Silver Reports — Following two sluggish years, copper finally effected a late recovery in 2016. Optimism over President Trumps $500 billion infrastructure plans drove the metal upward. Meanwhile, encouraging economic data from the second biggest economy and the largest copper consumer China have raised expectations of higher demand for the commodity, which in turn have led to an increase in prices. Additionally, continued workers strikes at major copper mines have also helped price escalation.
DOMESTIC MINERAL OUTPUT UP 5.3% IN JANUARY 2017
Gold Silver Reports — The index of mineral production of mining and quarrying sector for the month of January (new Series 2004-05=100) 2017 at 146.1, was 5.3% higher as compared to January 2016. The cumulative growth for the period April- January 2016-17 over the corresponding period of previous year has been (+) 1.4 percent.
PULSES PROCUREMENT STANDS AT 15.33 LAKH TONNES
Gold Silver Reports — The government is continuing its pulses procurement at a generous pace. The pulses procured and imported by the designated agencies are stored in their own godowns as well as godowns hired from CWC/SWC/Private parties. The storage capacity available with FCI, CWC, SWC and other state agencies along with private warehouses available in the country are adequate for storing the buffer stock of pulses.
MCX Natural Gas Support Level at 187
Gold Silver Reports — Technically Natural gas market is under long liquidation as market has witnessed drop in open interest by -1.33% to settled at 5476 while prices down 3.4 rupees.