Money Market Guru — India’s largest digital-payments company, Paytm, is seeking a license to set up a money market fund where users can store cash and earn interest, in competition with the country’s banks, according to a person familiar with the matter.
Money Market Guru — As per latest update from United States Department of Agriculture (USDA), Indias Total edible oil production in the forecast year will rise by 6.4-percent to 7.6 MMT due to an increase in the crush, excepting for sunflower oil, which is expected to sink to a decadal low.
Money Market Guru — As per latest update from United States Department of Agriculture (USDA), Chinas MY2017/18 corn production is forecast to decline one percent from MY2016/17, although some recent industry planting surveys suggest that corn production could decline even more, especially in North East China.
Money Market Guru — Refined Gold prices were down 0.19% to end at Rs 28665 per 10 grams. The metal tested a high of Rs 29000 per kg and a low of Rs 28661 per 10 grams. Resistance for Refined Gold is at Rs 29200 per 10 grams. Support for Gold is at Rs 28500 per 10 grams.
Money Market Guru — The prices of MCX Copper depleted yet again last week. Copper declined by 1.01% to end at Rs 376.80 per kg. On the higher side, Rs 379.40 per kg was noted while on the lower side, Rs 370.60 per kg was noted.
Money Market Guru — The session for Crude Oil was silent as the prices rolled forward by only 0.33%. Crude Oil ended at Rs 3362 per barrel. Crude Oil tested a high of Rs 3399 per barrel and a low of Rs 3320 per barrel. Resisting at higher levels Rs 3450 per barrel will be upper cap.
Money Market Guru — Technical Comment For The Day: Gold — The prices of refined Gold gained by more than 0.55% in a single session to end the day at Rs 28860 per 10 grams. The session was holiday thinned. Gold tested a high of Rs 28963 per 10 grams while a low of Rs 28816 per 10 grams was tested.
Money Market Guru — NCDEX Sugar futures have taken a heavy tumble after the recent gains as poor global cues and profit selling have hurt the sentiments. The NCDEX Sugar futures for May are down 1.21% to Rs 3770 per quintal. The counter had hit a near one month high above Rs 3800 levels earlier this week. Meanwhile, the demand remains steady in local cash markets and thinning supplies can buttress prices in near term.