Tuesday, 23 August 2016

EPIC RESEARCH MCX GOLD UPDATE OF 23 AUG 2016

Gold trading range for the day is 31135-31517.    Gold dropped as the U.S. dollar rallied amid indications the Federal Reserve could raise interest rates as early as next month.  Fed vice chairman Stanley Fischer said that the U.S. economy was close to hitting the central bank's targets for full employment and 2% inflation.   SPDR gold trust holdings gained by 0.25% i.e. 2.38 tonnes to 958.37 tonnes from 955.99 tonnes

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EPIC RESEARCH MCX SILVER UPDATE OF 23 AUG 2016

Silver trading range for the day is 43889-45571.  Silver dropped as the dollar strengthened after comments from U.S. Federal Reserve officials increased bets on a U.S. rate hike this year.           Fed’s Williams said last week that he would like to see another rate increase "sooner rather than later."             Holdings at ishares silver trust gained by 0.94% i.e. 103.40 tonnes to 11159.74 tonnes from 11056.34 tonnes. 

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EPIC RESEARCH NCDEX SOYABEAN UPDATE OF 23 AUG 2016

Soyabean trading range for the day is 3415-3511. Soyabean prices ended with losses on reports of improved sowing along with good distribution of rains. Sowing progress in leading soybean producers like Madhya Pradesh, Maharashtra, and Rajasthan improved following good rains during July. As on Aug 19, soybean sowing was recorded at 11.28 million hectare compared to 11.27 million hectare, data showed. At the Indore spot market in top producer MP, soybean gained 4 rupee to 3712 rupee per 100 kgs.

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EPIC RESEARCH NCDEX TURMERIC UPDATE OF 23 AUG 2016

Turmeric trading range for the day is 7186-7882. Turmeric prices dropped on weak spot demand and good health of new season crop in South Indian states. Turmeric acreage in Telangana as on 17 Aug was up 15.4 % at 45,000 hectares as compared to 39,000 hectares last year. NCDEX accredited warehouses turmeric stocks gained by 968 tonnes to 7481 tonnes. In Nizamabad, a major spot market in AP, the price ended at 8133.3 rupees gained 15.25 rupees.

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