NIFTY SPOT DOWN 17@10799.85
SENSEX DOWN 73@ 35548.26
BANK NIFTY FUTURES DOWN 18 @ 26391.95
BEST CALL OF THE DAY (FINAL TG )
BUY BATA INDIA NR 1ST
TGT
BUY JUBLFOOD NR 1ST
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HNI
OPTION
BUY BATA INDIA NR 1ST
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HNI
CASH
BUY BAJAJ HOLDINGS
FINAL TGT
Gold prices slumped to three-week lows as disappointed speculators liquidated long positions despite fresh trade skirmishes between the United States and China - Gold on MCX settled down -1.17% at 31010 as disappointed speculators liquidated long positions despite fresh trade skirmishes between the United States and China. Gold deepened losses after President Donald Trump announced that the United States will implement a 25 percent tariff on $50 billion of goods from China and Beijing quickly said it would hit back with its own tariffs. There was some support in gold prices after the European Central Bank (ECB) policy announcement struck a decidedly dovish tone, as expected. The ECB also announced it would halt bond purchases and would phase out the economic stimulus by the end of the year. The central bank also said it would keep its interest rates unchanged at least through the summer of 2019. Gold discounts in India were at their widest in nine months this week as higher domestic prices tempered retail purchases, while buying in other Asian centers remained subdued amid a lack of significant momentum in global prices.
Copper prices slid on concerns over demand in China and
as investors reacted to U.S. tariffs on China and a selloff in oil - Copper
on MCX settled down -1.59% at 473.9 on concerns over demand in China and as investors
reacted to U.S. tariffs on China and a selloff in oil. China’s industrial
output, investment and retail sales all grew less than expected, offsetting
upbeat trade data and suggesting further weakness ahead if Beijing sustains its
crackdown on factory pollution and local government spending. China’s economy
is finally starting to cool under the weight of a multi-year crackdown on
riskier lending that is pushing up borrowing costs for companies and consumers,
with data pointing to a broad slowdown in activity in May. While slower Chinese
growth suggested lower demand, China’s output of 10 non-ferrous metals
including copper, aluminium, lead, zinc and nickel rose 4.3 percent in May from
a year earlier to 4.55 million tonnes. Aluminium production was up 1.5 percent
at 2.79 million tonnes.
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