MCX Weekly Report By Ways2Capital 24 Sep 2014

Sept. 24, 2014 - PRLog -- MCX - WEEKLY NEWS LETTERS

INTERNATIONAL NEWS

✍ Initial claims for Unemployment benefits decreased 36,000 to a seasonally modified 280,000 for the week finished September. 13,the minimum level since July.

✍ The Federal Source on Wed restored its commitment to keep interest levels near zero for a "considerable time,"but also indicated it could raise credit costs quicker than predicted when it starts moving. Many economic experts and investors had predicted the U.S. central bank to improve the rate assistance it has provided since Goal, given generally enhancing information on the economy's performance.

✍ Gold price are likely to bottom out between $1,170 and $1,200 in 2015 as the U.S. economic system graduallyprofits to normal and investors remain aren't bothered about inflationary demands, the GFMS team at Thomson Reuters said on Friday.

✍ Average new house values in China's 70 major places decreased 1.1 % in Aug from This summer, a 4th successive monthly drop, according to Reuters computations from formal information released on Friday. Compared with the year before, house values were up 0.5 % in Aug, reducing from the 2.5 % yearly rise seen in July.

Precious Metals

✍ Gold rebounded on Friday, as traders purchased back their bearish wagers after rumours over an earlier-than-expected U.S. attention rate increase by the Government Source sent gold bullion costs to a 8-1/2-month low.

Bullion price were forced previously in the day after data revealed U.S. unemployed statements dropped more than predicted, indicatinga tightening work industry, a pattern seen as helpful of economic growth.

Follow-through selling also considered on gold a day after the U.S. central bank restored its commitment to keep attention levels near zero for a "considerable time," but indicated it may increase credit costs quicker than predicted once it begins moving.

We expect gold price to trade on the negative note as the plans to increase U.S. attention levels prior to predicted and objectives for amore powerful U.S. forex in the longer run likely to keep Bullion industry under pressure.

✍ Silver followed gold price as the money increased to its maximum since This july 2010 against a gift container of foreign exchange after the Fed brought up its forecasts for prices over the next two years and declared a further $10 billion dollars decrease in its monthly connection buys, making the program on course to end next month.

We expect Silver price to trade on the negative note as the plans to increase U.S. interest levels prior to predicted and objectives for a more powerful U.S. forex in the longer run likely to keep Silver bullion market under stress.

Energy

✍ Crude oil dropped on Friday, forced by adequate supply, concerns about demand growth and a more powerful U.S. Money.Traders pinned much of the drop on the U.S. dollar's move to its highest in more than four years against a gift container of foreign exchange. The doller attracted support from a drop in U.S. unemployed statements and Federal Source interest rate predictions that were greater than those expected in July.

We expect oil price to trade on back and forth as enough provides could keep costs under pressure and more powerful US economic system could force price greater.

✍ Natural gas futures trading clicked four directly times of benefits to close nearly 3 percent lower on Friday after another significant develop in every week stockpiles and predictions for light climate.

The U.S. Energy Information Management said resources put 90 billion dollars cubic legs of gas into storage a couple weeks ago. While that develop was exactly what experts asked by Reuters had approximated for the A week, it was more than the 48 bcf hypodermic injection of the year before and the common 71 bcf develop over five years.

MDA Weather Services prediction summer in U.S. Western and Main declares over the next 10 times.

We expect Gas prices to business on adverse note on the back of greater than predicted accumulation in stocks.

Base metal

✍ All Base Metal fallen on Friday, forced by restored weak point in China's residence industry and by a sharp development of the money after the U.S. Federal Reserve signalled attention levels could increase quicker than predicted.

The U.S. central bank on Wed restored its commitment to keep attention levels near zero for a "considerable time", but also indicated it could raise borrowing costs quicker than predicted when it starts moving.

The perspective for future attention levels raised the money to a more-than a six-year high against the yen. A rising money makes products priced in the U.S. unit more expensive for holders of other foreign exchange.

Also putting stress on Copper price was a decrease in China's new house values in Aug for a fourth straight month, underlining a deepening downtrend in the residence industry that is progressively with a weight of on the wider economic system.

After a powerful performance in 2013, China's housing industry has melted as sales have bogged down and banks have become progressively cautious about lending to designers and property buyers.

We expect platform metal price to trade mostly on the negative note as higher supplies, weak Chinese economic system and powerful money are likely to keep costs under stress.

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