What to do in Mcx base metals Today.

Buying activity in China’s physical gold exchange ticked up this week, indicating retailers in the top consumer of the metal saw good sales during the week-long National Day holiday, Gold is 27188 and up to 438 point and with 0.83% so gold is moving at up trends , MCX SILVER was trading at Rs 38919 up Rs 407, or 1.06 percent. The SILVER rate touched an intraday high of Rs 38960 and an intraday low of Rs 38730. silver is also is up trends , silver is 38950, up to points 438 ,and with present 1.14% both are precious metals are up trends.

The oil price could face further downward pressure as a warmer winter is expected to hit demand further, the supplier of about 40 percent of the world’s oil warned. Official forecasts expect heating degree days in the US to be 12 percent lower than last winter, implying lower demand.

MCX & NCDEX GURU 

What to do in MCX Base metals Today

The annual rate of inflation, based on monthly WPI, stood at 3.74 percent (provisional) for the month of August, 2014 (over August,2013) as compared to 5.19 percent (provisional) for the previous month and 6.99 percent during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 3 percent compared to a build up rate of 5.23 percent in the corresponding period of the previous year.

RBI views: With crude oil prices falling globally, the Reserve Bank governor on Monday pitched in for eliminating diesel subsidies completely. However, he cautioned that geopolitical risks -Ukraine and Middle East – continue to remain and these low crude prices may be a temporary phenomenon. On the macro-economic front, the IIP and CPI data released on Friday point to the fact that recovery is still some time away. But Rajan says India is on path to recovery. He says when compared to other emerging markets, what worked well for India is the emergence of a stable government.
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