MTECHTIPS;-Copper prices to trade higher


MTECHTIPS;-Copper prices to trade higher

MTECHTIPS-Copper prices traded higher by 2.8 percent last week touching three year highs as gains in iron ore prices, key Steel making ingredient boosted an upside in nonferrous metals space. Iron ore futures on the Dalian Commodity Exchange surged for third day in a row on Monday fueled by concerns of shortages of high – grade iron ore and before curbs on futures purchases come into force. Further, supply concerns escalated after violent demonstrators blocked an access road to Grasberg, the world’s second – biggest copper mine, in a protest over employment terms. LME Copper prices are currently trading higher by 0.1 percent at $ 6704 /t.  Copper prices are likely to trade higher today as weakness in the DX will be supportive. Al so, declining LME Copper stocks along bullish CFTC positions will act as positive factors 

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MTECHTIPS;-Copper prices to trade higher


MTECHTIPS;-Copper prices to trade higher

MTECHTIPS-Copper prices traded higher by 2.8 percent last week touching three year highs as gains in iron ore prices, key Steel making ingredient boosted an upside in nonferrous metals space. Iron ore futures on the Dalian Commodity Exchange surged for third day in a row on Monday fueled by concerns of shortages of high – grade iron ore and before curbs on futures purchases come into force. Further, supply concerns escalated after violent demonstrators blocked an access road to Grasberg, the world’s second – biggest copper mine, in a protest over employment terms. LME Copper prices are currently trading higher by 0.1 percent at $ 6704 /t.  Copper prices are likely to trade higher today as weakness in the DX will be supportive. Al so, declining LME Copper stocks along bullish CFTC positions will act as positive factors 

MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips

WWW.MTECHTIPS.COM

07489294118-119

MTECHTIPS;-Gold prices cross above $1,300 at start of busy week


MTECHTIPS;-Gold prices cross above $1,300 at start of busy week

Gold prices crossed above the key $1,300-level on Monday, as the U.S. dollar sank to its lowest in more than a year after Federal Reserve Chair Janet Yellen’s speech at Jackson Hole made  Yellen’s speech at the annual meeting of central bankers in Jackson Hole, Wyoming on Friday focused on financial stability while giving no hint on monetary policy, leaving the prospect of more interest rate hikes up in the air. She said the reforms put in place after the 2007-2009 financial crisis have strengthened the financial system, without impeding economic growth. The dollar index was down 0.1% against a basket of six major currencies at 92.38, adding to Friday’s losses. It fell to its lowest since early May 2016 at 92.30 earlier. Dollar weakness usually benefits gold, as it boosts the metal’s appeal as an alternative asset and makes dollar-priced commodities cheaper for holders of other currencies. Comex gold futures tacked on $5.30, or around 0.4%, to $1,303.30 a troy ounce by 3:05 AM ET (0705 GMT), not far from an eight-month peak of $1,306.90 touched earlier in August. Gold prices finished last week up 0.5%. The yellow metal has been well-supported in recent weeks as U.S. political developments kept investors on edge and supported safe-haven demand. Global financial markets will focus on this week’s U.S. employment report to gauge how it will impact the Federal Reserve’s view on monetary policy through the end of the year.

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MTECHTIPS;-Gold prices cross above $1,300 at start of busy week


MTECHTIPS;-Gold prices cross above $1,300 at start of busy week

Gold prices crossed above the key $1,300-level on Monday, as the U.S. dollar sank to its lowest in more than a year after Federal Reserve Chair Janet Yellen’s speech at Jackson Hole made  Yellen’s speech at the annual meeting of central bankers in Jackson Hole, Wyoming on Friday focused on financial stability while giving no hint on monetary policy, leaving the prospect of more interest rate hikes up in the air. She said the reforms put in place after the 2007-2009 financial crisis have strengthened the financial system, without impeding economic growth. The dollar index was down 0.1% against a basket of six major currencies at 92.38, adding to Friday’s losses. It fell to its lowest since early May 2016 at 92.30 earlier. Dollar weakness usually benefits gold, as it boosts the metal’s appeal as an alternative asset and makes dollar-priced commodities cheaper for holders of other currencies. Comex gold futures tacked on $5.30, or around 0.4%, to $1,303.30 a troy ounce by 3:05 AM ET (0705 GMT), not far from an eight-month peak of $1,306.90 touched earlier in August. Gold prices finished last week up 0.5%. The yellow metal has been well-supported in recent weeks as U.S. political developments kept investors on edge and supported safe-haven demand. Global financial markets will focus on this week’s U.S. employment report to gauge how it will impact the Federal Reserve’s view on monetary policy through the end of the year.

MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips

WWW.MTECHTIPS.COM

07489294118-119