Natural Gas was seen to be declining in the future markets

Natural Gas was seen to be declining in the future markets with speculation rising about stockpile.

As per media reports, in the US, gas inventories have risen by 99 billion cubic feet in the previous week and this stockpile might have negative impact on the commodity.

Also, with this, the demand of the commodity has not seen any positive trend, further resulting in the downfall in the prices in the international market.

In the domestic market, at the MCX, the commodity hasn’t been giving any positive trend and remains to trade almost flat. The demand in the Asian market hasn’t seen any uptrend and this may have had negative impact on the metal.

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MCX plans to launch spot trading in gold?

Traders started building bullish bets on gold early Friday, a day after short covering pushed up the price by 1% to Rs 26,900 per 10 gm. 

The build-up in intraday bullish bets is borne out by options data on US bourse Comex. At about noon India time, traders on Comex purchased more call options of the $1,200 strike price for June, while open interest in the $1,200 put options declined. 

The $1,200 'out of the money' call added 131 contracts against a decline of 46 contracts in  .. 

Read more at:

The Times of India

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