Commodities Latest News..

TraderPRO

Well-Known Member
#2
CME Group Announces Record Trading Volume for WTI-Brent Crude Oil Spread Options

Oct. 24, 2013 /PRNewswire/ --
CME Group, the world's leading and most diverse derivatives marketplace, today announced record daily trading volume for its NYMEX WTI-Brent Crude Oil Spread Option contract (BV) yesterday, October 23 of 25,474 contracts, compared to 19,400 on July 1, 2013, the last record for this contract.

This comes at a time when the spread between NYMEX WTI and Brent has widened recently to approximately $11 a barrel. Yesterday was also a record day for the NYMEX WTI-Brent exchange-listed spread on the CME Globex electronic platform, which allows market participants to trade both sides of the spread electronically with no spread risk.

"With robust trading in our spread products, as well as the benchmark NYMEX WTI and Brent outright contracts, our crude oil and refined products complex is in a very strong position right now," said Gary Morsches, Managing Director of Global Energy at CME Group. "More and more, market participants are choosing CME Group as the preferred venue for trading the WTI-Brent spread and for managing risk in global energy markets."
 

TraderPRO

Well-Known Member
#4
METALS OUTLOOK: Gold Traders Watching $1,350/Oz Level, FOMC For Next Week's Action

Debbie Carlson

Traders who follow technical charts and those who watch fundamental factors both have something to monitor next week in the gold market, as gold trades around the pivotal $1,350-an-ounce area ahead of a Federal Open Market Committee two-day meeting.

December gold futures rose Friday, settling at $1,352.50 an ounce on the Comex division of the New York Mercantile Exchange, up 2.9% on the week. December silver fell Friday, settling at $22.639 an ounce, but up 3.3% on the week.

In the Kitco News Gold Survey, out of 34 participants, 26 responded this week. Of these, 20 see prices up, while five see prices down and one sees prices sideways. Market participants include bullion dealers, investment banks, futures traders and technical-chart analysts.

Gold prices rallied this week, supported by a weaker dollar. December gold futures prices on Thursday settled a hair above $1,350, and on Friday managed to shrug off earlier losses to add to a second day of settlements north of $1,350.

Bob Haberkorn, senior commodities broker, RJO Futures called the move “impressive for the bulls.”

Because of the near-$38 an ounce price rise this week, he sees the market adding to its gains in the coming week.

Part of what might determine if gold can hold above $1,350 an ounce is how the market acts after the November options expiration, said George Gero, precious metals strategist and vice president at RBC Capital Markets Global Futures. He said some of the selling on Friday is from traders who wanted to get out of positions ahead of time. “If we get a close above $1,350 after options expire, we could see the market work higher,” he said.

Gold has struggled to move much above $1,350 in the past, market watchers noted. The market has held in a wider range of about $1,280 to $1,350 recently, with physical buying coming in at the lows and selling by exchange-traded-fund investors when prices rise. One precious metals trader at a bullion bank said while he sees higher prices next week, “the only fly in the ointment is that premiums on the Shanghai Futures Exchange are slipping and that shows that Chinese are selling gold. (That may be) just some profit taking, though.”

Frank Lesh, broker and futures analyst with FuturePath Trading, pointed out several technical-chart considerations to keep in mind. He said he believes gold is likely to trade around the current area as the market consolidates its recent gains.

“Gold has retraced over 50% of the recent range of $1,434 to $1,251. This midpoint is $1,342 and should become an important support area. Looking at this year’s range of $1,704 to $1,182, this market still has a ways to go to achieve the midpoint of $1,443, with $1,381 the 0.382 (Fibonacci) retracement level. Gold did push through the down trend line and remains above the 20-day (moving average) for now. Gold is now a trade against the dollar and the inverse correlation is very strong right now,” Lesh said.

Next week also brings the FOMC meeting, which concludes on Wednesday. The Fed is widely expected to stand pat on its quantitative-easing program. Analysts said a combination of the lack of economic data because of the three-week U.S. government shutdown and the likely hit the economy took because of the closure are among the reasons the Fed will continue the program.

There’s debate whether the Fed’s announcement will push gold through $1,350. Bulls said confirmation that the Fed will continue to buy bonds could encourage traders to buy gold, especially if dollar weakness persists. Haberkorn doesn’t agree.

“I don’t think we’ll see a big move after the Fed. We couldn’t hold after the surprising news after the September meeting,” he said.

Haberkorn said while he thinks gold could see gains next week, he doesn’t see gold in a new bullish trend.

“For the rest of the year, I’m thinking we’re going to be in a tug-of-war and a lot of sideways action going on. I can’t see the bullish trend (restarting) until we get over $1,430. What I’d do now is play the ranges and be willing to do some short-term trades,” he said.

The problem gold – and other precious metals – have is that there’s a lack of outsider investor interest for now, he said. Instead, he said, “they’re all in the equity market. Our customers tell us they’re killing it in equities and you open your 401(k) and it’s like Christmas time. So people have their eyes off metals.”


Source :kitco.com
 

TraderPRO

Well-Known Member
#5
Now a systematic plan to accumulate physical gold, silver

With gold and silver prices continuing to rule high, it has become very difficult for common man to buy these precious metals. In a bid to attract buyers, who find it hard to buy these metals at current prices, Bullion India, has launched a Unit Systematic Plan (USP).

This would help customers accumulate physical gold and silver conveniently in small amounts through periodic systematic investments. USP is available online. Interested customers can register and upload their KYC details online.

The customer can invest in systematic investment options ranging from a period of minimum six months to 36 months. The minimum investment amount has been kept at Rs. 1000 to make gold and silver easily affordable. Customers can also register and apply for the plan through the agent and broker network of Bullion India.
...


"This is the first structured bullion investment model that allows you to accumulate silver on daily basis. The customers will be credited with gold and silver units on a daily basis into their account," Bullion India said. These units are backed by physical gold and silver, which is kept with the vaulting agencies and is controlled and monitored by an independent trustee, IDBI Trusteeship Services.

"Through our Unit Systematic Plan, we aim to provide common man with an opportunity to own small quantities of gold and silver at the lowest costs of buying," said Sachin Kothari, Director, Bullion India. "This will allow one to meet investment and savings goals. A daily holding statement will be available to customers on the Bullion India website," he said. Customers will receive e-mail and SMS confirmation at the time of application, and on days of deposits.
source:

http://timesofindia.indiatimes.com/...physical-gold-silver/articleshow/24815659.cms
 
#6
Now a systematic plan to accumulate physical gold, silver

With gold and silver prices continuing to rule high, it has become very difficult for common man to buy these precious metals. In a bid to attract buyers, who find it hard to buy these metals at current prices, Bullion India, has launched a Unit Systematic Plan (USP).

This would help customers accumulate physical gold and silver conveniently in small amounts through periodic systematic investments. USP is available online. Interested customers can register and upload their KYC details online.

The customer can invest in systematic investment options ranging from a period of minimum six months to 36 months. The minimum investment amount has been kept at Rs. 1000 to make gold and silver easily affordable. Customers can also register and apply for the plan through the agent and broker network of Bullion India.
...


"This is the first structured bullion investment model that allows you to accumulate silver on daily basis. The customers will be credited with gold and silver units on a daily basis into their account," Bullion India said. These units are backed by physical gold and silver, which is kept with the vaulting agencies and is controlled and monitored by an independent trustee, IDBI Trusteeship Services.

"Through our Unit Systematic Plan, we aim to provide common man with an opportunity to own small quantities of gold and silver at the lowest costs of buying," said Sachin Kothari, Director, Bullion India. "This will allow one to meet investment and savings goals. A daily holding statement will be available to customers on the Bullion India website," he said. Customers will receive e-mail and SMS confirmation at the time of application, and on days of deposits.
source:

http://timesofindia.indiatimes.com/...physical-gold-silver/articleshow/24815659.cms
LIke...NSEL....?
 

TraderPRO

Well-Known Member
#7
Gold price rigging fears put investors on alert

An article published in FT is now delinked. But, you can get the cache in link below.


Global gold prices may have been manipulated on 50 per cent of occasions between January 2010 and December 2013, according to analysis by Fideres, a consultancy.
The findings come amid a probe by German and UK regulators into alleged manipulation of the gold price, which is set twice a day by Deutsche Bank, HSBC, Barclays, Bank of Nova Scotia and Société Générale in a process known as the “London gold fixing”.


Read more...

http://webcache.googleusercontent.c...GDQNyZLqA&bvm=bv.61725948,d.aWc#axzz2uNEusqEN
 

TraderPRO

Well-Known Member
#8
CTT Reduced..

Effective today, 26 Feb, the Transaction charges has been reduced from 250 to 210 per crore.

Refere the MCX circular for further details and get your broker to charge as per rule.:):):)
 
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TraderPRO

Well-Known Member
#9
In another 5 mins, Fed chief Yellen testifies. If you are a day trader, be prepared for a PROBABLE volatile movements across counters esp, precious metals and energy.
 

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