MTECHTIPS:-Silver to trade in 37310-39330


MTECHTIPS:-Silver to trade in 37310-39330

MTECHTIPS-Silver trading range for the day is 37310-39330. Silver gained amid rising tensions between US and North Korea after the North responded to warnings from U.S. President Donald Trump. The productivity of U.S. workers accelerated a bit in the second quarter as economic growth accelerated but remains well below historical averages. U.S. jobs data came in better than expected, while investors awaited U.S. inflation figures later this week for further clues about the pace of interest rate rises. BUY SILVER SEP 2017 @ 38350 SL 38000 TGT 38640-38950. MCX

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MTECHTIPS:-Silver to trade in 37310-39330


MTECHTIPS:-Silver to trade in 37310-39330

MTECHTIPS-Silver trading range for the day is 37310-39330. Silver gained amid rising tensions between US and North Korea after the North responded to warnings from U.S. President Donald Trump. The productivity of U.S. workers accelerated a bit in the second quarter as economic growth accelerated but remains well below historical averages. U.S. jobs data came in better than expected, while investors awaited U.S. inflation figures later this week for further clues about the pace of interest rate rises. BUY SILVER SEP 2017 @ 38350 SL 38000 TGT 38640-38950. MCX

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MTECHTIPS:-Copper prices to trade sideways


MTECHTIPS:-Copper prices to trade sideways

MTECHTIPS-Copper prices fell from two year high levels as global risk aversion following intensified tensions between the US and North Korea weighed on the metal. The US warned that further threats from the country would be met with “fire and fury” after North Korea said it’s examining an operational plan for firing a ballistic missile toward Guam. However, sharp downside was restricted as steady Chinese producer price index (PPI) in July signalled towards optimism in the industrial activity although retail CPI was a tad lower at 1.4 percent. Also, LME Copper stocks fell for five consecutive sessions to 288,925 tonnes on Wednesday. Earlier this week, base metals jumped to record highs  after Chinese  rebar steel futures surged around 7 percent to their highest in more  than four years and  China’s Shannon province  ordered  more  than expected capacity cuts. MCX cop per prices traded lower by 0.1 percent to close at Rs. 413.6 per kg on Wednesday.Copper prices are currently trading lower by 0.1 percent at $ 6451 /t. We expect Copper prices to trade sideways today as global risk aversion following fresh tensions between the US and North Korea will exert pressure

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MTECHTIPS:-Copper prices to trade sideways


MTECHTIPS:-Copper prices to trade sideways

MTECHTIPS-Copper prices fell from two year high levels as global risk aversion following intensified tensions between the US and North Korea weighed on the metal. The US warned that further threats from the country would be met with “fire and fury” after North Korea said it’s examining an operational plan for firing a ballistic missile toward Guam. However, sharp downside was restricted as steady Chinese producer price index (PPI) in July signalled towards optimism in the industrial activity although retail CPI was a tad lower at 1.4 percent. Also, LME Copper stocks fell for five consecutive sessions to 288,925 tonnes on Wednesday. Earlier this week, base metals jumped to record highs  after Chinese  rebar steel futures surged around 7 percent to their highest in more  than four years and  China’s Shannon province  ordered  more  than expected capacity cuts. MCX cop per prices traded lower by 0.1 percent to close at Rs. 413.6 per kg on Wednesday.Copper prices are currently trading lower by 0.1 percent at $ 6451 /t. We expect Copper prices to trade sideways today as global risk aversion following fresh tensions between the US and North Korea will exert pressure

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MTECHTIPS:-Gold to trade in 28398-29088


MTECHTIPS:-Gold to trade in 28398-29088

MTECHTIPS-Gold trading range for the day is 28398-29088. Gold prices rose as investors piled into safe haven assets amid intensifying tensions between U.S. and North Korea, with Pyong yang saying it is considering plans to attack Guam. Comments came on the back of a report that the hermit state had created a miniaturized nuclear weapon that could fit in its missiles. With no major economic reports, market players looked ahead to monthly inflation indicators due later in the week for fresh clues on the timing of the next Fed rate hike. BUY GOLD OCT 2017 @ 28840 SL 28700 TGT 28960-29100. MCX

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