REVIA MCX COMMODITY UPDATE FOR 31 DEC 2013

Agro Outlook
CHANA  DHANIYA
                                                          D A I L Y B U Z Z

Crude palm oil prices traded a shade higher at Rs 548.10 per 10 kg in futures market today as speculators indulged in creating fresh positions after pick up in demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in January moved up by 90 paise, or 0.16 per cent, to Rs 548.10 per 10 kg in business turnover of 81 lots.

Similarly, the oil for delivery in December edged up by 40 paise, or 0.07 per cent, to Rs 541.30 per 10 kg in 61 lots.

Sugar futures traded a shade higher at Rs 2,808 per quintal speculators created fresh positions, triggered by a pick up in demand in spot markets.

However, ample supplies from mills in the physical market restricted the gains.

At the National Commodity and Derivatives Exchange, sugar for delivery in January rose by Rs 5, or 0.18 per cent, to Rs 2,808 per quintal with an open interest of 24,360 lots.

Similarly, the sweetner for delivery in February traded higher by Rs 4, or 0.14 per cent, to Rs 2,793 per quintal in 17,100 lots.

Precious Metals

SILVER  GOLD

                                                       D A I L Y B U Z Z

Gold prices moved down by 0.19 per cent to Rs 28,509 per 10 gram in futures trade today as participants offloaded positions partially, taking weak cues from the global market.

At the Multi Commodity Exchange, gold for delivery in February contracts declined by Rs 55, or 0.19 per cent, to Rs 28,509 per 10 gram in business turnover of 341 lots.

Likewise, the metal for delivery in April shed Rs 44, or 0.16 per cent, to Rs 27,898 per 10 gram in 23 lots.

Market analysts said a weak trend in the overseas markets as investor holdings extended declines to the lowest since 2009, mainly put pressure on the gold prices at futures trade here.

Globally, gold fell 0.3 per cent to USD 1,209.76 an ounce in early trade Singapore today. 

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MCX COMMODITY UPDATE FROM RESEARCH VIA FOR TODAY

Base Metals & Energy

COPPER  CRUDE OIL

                                                     D A I L Y B U Z Z

Nickel prices moved up by 0.18 per cent to Rs 880.90 per kg in futures market today as speculators 

enlarged positions, tracking a firming trend in spot market on increased demand from alloy-makers.

Besides, an encouraging trend copper and other base metals in the global markets supported the upside.

At the Multi Commodity Exchange, nickel for delivery in December gained Rs 1.60, or 0.180 per cent, to Rs 880.90 per kg in business turnover of 216 lots.

In a similar fashion, the metal for delivery in January next year rose by Rs 1.50, or 0.16 per cent, to Rs 

889.80 per kg in 28 lots.

Market analysts said apart from increased domestic demand from alloy-makers, firmness in copper and 

other base metals at the London Metal Exchange on the back of strong US economic data, also influenced nickel futures here. 

Agro Outlook

CHANA  DHANIYA

                                                D A I L Y B U Z Z

Soybean futures fell on Friday to their lowest level in nearly three weeks on sluggish demand, while soyoil and rapeseed rose, following gains in overseas palm oil prices and on expectations the government would increase import duty on refined palm oil to support local refiners.

At 0843 GMT, the benchmark March contract on the Bursa Malaysia Derivatives Exchange was up 0.34 per cent at 2,643 ringgit a tonne. The key January soybean contract was down 0.64 percent at 3,797 rupees soybean contract was down 0.64 percent at 3,797 rupees ($61.17) per 100 kg on the National Commodity and Derivatives Exchange, after hitting a low of 3,762 rupees earlier in the day, the lowest since December 9.

"Since export demand is weak for soymeal, traders are cautiously buying soybeans. Indian soymeal is very expensive compared with prices in the world market," said Chowda Reddy, a senior analyst at Inditrade Derivatives and Commodities. A strong rupee makes edible oil imports cheaper, and trims returns of oilmeal exporters. The rupee was trading stronger on Friday.

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RESEARCH VIA PRECIOUS, BASE METALS & ENERGY UPDATE FOR 27 DEC 2013

PRECIOUS  METALS
GOLD  SILVER 
                                                        D A I L Y B U Z Z

Gold rose marginally by 0.18 per cent to Rs 28,504 per 10 gm in futures trade today as participants enlarged positions mostly supported by a firming trend overseas after the recent fall.

Besides, pick up in demand in spot markets, also supported the upside.

At the Multi Commodity Exchange, metal for delivery in February gained Rs 50, or 0.18 per cent, to trade higher at Rs 28,504 per 10 gm in a turnover of 316 lots. Similarly, the metal for delivery in April moved up by Rs 46, or 0.17 per cent, to Rs 27,892 per 10 gm, clocking a business volume of five lots.

Silver rose by 0.15 per cent to Rs 44,056 per kg in futures market today largely in tune with a firming trend in the global markets.

At the Multi Commodity Exchange, silver for delivery in March moved up by Rs 64, or 0.15 per cent, to Rs 44,056 per kg in business turnover of 330 lots.

Similarly, the metal for delivery in May gained Rs 61, or 0.14 per cent, to Rs 45,000 per kg in a single lot.

BASE METALS & ENERGY
COPPER  CRUDE OIL
                                                         D A I L Y B U Z Z

Copper prices declined by Rs 2 per kg at the local non-ferrous base metals market today on subdued
demand at prevailing higher levels amid a weak global trend.

Other metals, however, remained flat in thin trade. Traders said subdued demand and a weak global
trend mainly led to decline in copper prices.

Meanwhile, copper for delivery in March retreated 0.3 per cent to close at 52,210 yuan ($8,599) a tonne on the Shanghai Exchange. The London Metal Exchange was closed for Christmas holiday.

In the national capital, copper mixed scrap declined by Rs 2 to Rs 429 per kg.

Crude oil futures prices rose by 0.42 per cent to Rs 6,186 per barrel today as speculators created fresh
positions, tracking a firming trend in Asia on supply concerns.

At the Multi Commodity Exchange, crude oil for delivery in January traded Rs 26, or 0.42 per cent,
higher at Rs 6,186 per barrel, with a business turnover of 1,479 lots.

The oil for delivery in February also moved up by Rs 25, or 0.40 per cent, to Rs 6,230 per barrel, with a business volume of 75 lots.

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REVIA MCX COMMODITY DAILY REPORT FOR 26/DEC/2013

Base Metals & Energy
COPPER CRUDE OIL
                                                    D A I L Y B U Z Z

Crude oil futures eased by 0.29 per cent to Rs 6,135 per barrel today in line with a mixed trend in Asian trade.

At the Multi Commodity Exchange, Crude oil for delivery in January fell Rs 18, or 0.29 per cent, to Rs
6,135 per barrel, with a business volume of 725 lots.

Oil prices for February contracts moved down by Rs 17, or 0.27 per cent to Rs 6,177 per barrel, with a
business volume of 12 lots. Marketmen said the fall in crude oil futures prices was mostly in line with a
mixed trend in Asian trade as dealers engaged in profit-taking with a lack of leads to spur fresh market
movement.

Meanwhile, crude oil for delivery in February was down by 24 cents to $98.67 a barrel on the New York Mercantile Exchange, while Brent North Sea crude for February rose 8 cents to $111.64.

Agro Outlook
CHANA   DHANIYA
                                                   D A I L Y B U Z Z

Chana prices fell for the fourth straight day by losing 0.23 per cent to Rs 3,019 per quintal in futures trade today on sluggish demand in the spot market against increased supplies from producing regions.

At the National Commodity and Derivatives Exchange, chana for delivery in January fell by Rs 7, or 0.23 per cent to Rs 3,019 per quintal with an open interest of 86,920 lots.

Analysts said sluggish demand in the spot market against on increased supplies from producing regions mainly kept pressure on chana prices at futures trade. 

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RESEARCH VIA DAILY COMMODITY REPORT FOR 24/DEC/2013

Precious Metals
SILVER  GOLD
                                                         D A I L Y B U Z Z

Gold futures edged down on Monday on a stronger rupee, though premiums stayed on the higher side due to lack of supplies.

At 0923 GMT, the most-active gold contract for February delivery was 0.27 per cent lower at 28,477 rupees per 10 gram on the Multi Commodity Exchange. Silver for March delivery was down 0.07 per cent at 43,975 rupees per kg.

The rupee, which strengthened on Monday, plays an important role in determining the landed cost of the dollar-quoted yellow metal. Premiums stayed steady at $140 an ounce on London prices.

"There has been no pick-up in demand, they (suppliers) have ample gold for exports, but nothing is available for domestic," said Bachhraj Bamalwa, director at the All India Gems and Jewellery Trade Federation. Indian gold imports may fall 70 per cent in the final quarter of 2013 from 255 tonnes in the year-ago period and are expected to be half the usual levels at 500-550 tonnes next year if new import rules are maintained, a top trade body official said.

Agro Outlook
CHANA DHANIYA
                                                        D A I L Y B U Z Z

Chana prices fell for the fourth straight day by losing 0.23 per cent to Rs 3,019 per quintal in futures trade today on sluggish demand in the spot market against increased supplies from producing regions.

At the National Commodity and Derivatives Exchange, chana for delivery in January fell by Rs 7, or 0.23 per cent to Rs 3,019 per quintal with an open interest of 86,920 lots.

Analysts said sluggish demand in the spot market against on increased supplies from producing

regions mainly kept pressure on chana prices at futures trade. 

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RESEARCH VIA MCX DAILY COMMODITY REPORT FOR 23 DEC 2013

Precious Metals

GOLD SILVER 

                                                   D A I L Y B U Z Z

Gold prices extended losses for the second straight session by falling Rs 205 to Rs 30,160 per ten grams in the national capital today on sustained selling by stockists, triggered by a weakening global trend.

While silver prices dropped for the third day and lost Rs 725 at Rs 43,500 per kg on poor offtake by industrial units and coin makers.

In Mumbai, Gold of 99.9 and 99.5 per cent purity dropped by Rs 320 each to Rs 29,630 and Rs 29,480 per ten grams, respectively Silver declined by Rs 450 to Rs 43,800 per kg.

Traders said sustained selling by stockists against sluggish demand amid a weakening global trend, where gold dropped below $1,200 an ounce as the Federal Reserve scaled back monetary stimulus, mainly kept pressure on precious metals.

Gold in New York, which normally sets price trend on the domestic front, fell by 3.4 per cent to $1,193.60 an ounce and silver by 4.4 per cent to $19.18 an ounce.

In Delhi, gold of 99.9 and 99.5 per cent purity tumbled by Rs 205 each to Rs 30,160 and Rs 29,960 per ten grams, respectively. It had shed Rs 65 yesterday. Sovereign declined by Rs 50 to Rs 25,150 per piece of eight gram.

Base Metals & Energy

COPPER  CRUDE OIL

                                                   D A I L Y B U Z Z

Crude oil futures prices today fell by 0.74 per cent to Rs 6,193 per barrel, as speculators trimmed     positions amid a weakening trend in the Asian trade.

At the Multi Commodity Exchange, crude oil for delivery in January next year fell Rs 54, or 0.74 per 

cent, to Rs 6,193 per barrel in 3,671 lots.

Similarly, the oil for February delivery moved down by Rs 41, or 0.65 per cent, to Rs 6,234 per barrel in 156 lots.

The trading sentiment turned weak at futures trade after crude oil prices declined in Asian trade on 

profit-taking following gains in New York fuelled by upbeat sentiment over the US Federal Reserve's 

decision to start easing its stimulus programme, marketmen said.

Meanwhile, crude oil for February delivery was down 26 cents at $98.78 a barrel on the New York 

Mercantile Exchange.

Buoyed by a firm global trend and increased domestic demand, copper prices rose marginally by 0.09 

per cent to Rs 460.80 per kg in futures trade today.

At the Multi Commodity Exchange, copper for delivery in February contracts traded higher by 40 paise, or 0.09 per cent, to Rs 460.80 per kg in business turnover of 357 lots.

Similarly, the metal for delivery in the far-month April edged up by 10 paise, or 0.02 per cent.

Agro Outlook

CHANA  DHANIYA

                                                    D A I L Y B U Z Z

The sugar futures edged higher on Friday on bargain-buying, driven by hopes the government's decision to provide interest-free loans to sugar mills will limit distress sale in the market.

Ample stocks and a pick-up in cane crushing capped the upside.

The cabinet has approved a scheme of interest free loans to sugar mills, Food Minister K V Thomas said on Thursday, as part of a bail-out package to beleaguered mills.

"Some mills are making distress sale in the market as they need money to make cane payments. 

The government assistance can reduce distress sale," said Ashok Jain, president of the Bombay 

Sugar Merchants Association.

At 0959 GMT, the key January contract on the National Commodity and Derivatives Exchange was up 0.33 per cent at 2,769 rupees ($44.56) per 100 kg. It hit a low of 2,746 rupees on Dec. 12, the lowest level in more than two years.

Mills have been swamped with massive stocks, as India is set to produce surplus sugar for the fourth year in a row.

In overseas markets, raw sugar futures were trading up 1.73 per cent after rising 1.6 per cent in the previous session as low prices drove buying.

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DAILY MCX COMMODITY UPDATE FOR 20 DEC 2013

Precious Metals

GOLD  SILVER 

                                                         D A I L Y B U Z Z

Gold prices fell by 0.49 per cent to Rs 28,727 per ten grams in futures trade today as speculators offloaded their positions in tandem with a weak global trend as the Fed decided to trim monthly bond buying.

At the Multi Commodity Exchange, Gold for delivery in February fell by Rs 141, or 0.49 per cent to Rs 28,727 per ten grams in business turnover of 1922 lots.

Similarly, the yellow metal for delivery in April also moved down by Rs 131, or 0.46 per cent to Rs 28,150 per ten grams in 59 lots.

Meanwhile, gold fell 0.2 per cent to 1,215.93 dollar an ounce in Singapore.Silver prices plunged by 1.79 per cent to Rs 44,535 per kg in futures trading today as speculators reduced their holdings on the back of weak global trend as the US Fed decided to trim monthly bond purchases.

At the Multi Commodity Exchange, silver for delivery in March plunged by Rs 813, or 1.79 per cent, to Rs 44,535 per kg in business turnover of 4,442 lots.

Similarly, the white metal for delivery in May moved down by Rs 764, or 1.65 per cent to Rs 45,513 per kg in 74 lots.

Base Metals & Energy

COPPER  CRUDE OIL

                                                      D A I L Y B U Z Z

Copper prices slide by 0.10 per cent to Rs 466.45 per kg in futures trading today as speculators trimmed their positions, tracking a weak global trend as the dollar strengthened, reducing appeal of industrial 

metals as an alternate investment.

At the Multi Commodity Exchange, copper for delivery in April next year declined by 45 paise, or 0.10 per cent to Rs 466.45 per kg in business turnover of 113 lots. In a similar fashion, the metal for delivery in February shed 25 paise, or 0.05 per cent to Rs 461.25 per kg in 1396 lots.

Analysts said speculators trimming their positions, tracking a weak global trend as the dollar strengthened after the Federal Reserve decided to taper its monthly bond purchases, reducing the appeal of industrial metals as an alternative investment. Meanwhile, copper for delivery in three months dropped 0.6 per cent to USD 7,226 a metric tonne on the London Metal Exchange.

Lead prices weakened by 0.15 per cent to Rs 134.15 per kg in futures trading today as speculators 

reduced their positions on subdued spot market demand.

At the Multi Commodity Exchange, lead for delivery in December traded lower by 20 paise, or 0.15 per cent, to Rs 134.15 per kg in business turnover of 501 lots.

Likewise, the metal for delivery in January shed 10 paise, or 0.07 per cent to Rs 135.55 per kg in 90 lots.

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RESEARCH VIA DAILY MCX COMMODITY UPDATE FOR 19 DEC 2013

Precious Metals

GOLD  SILVER 

                                                        D A I L Y B U Z Z

Gold prices rose by 0.62 per cent to Rs 28,318 per ten grams in futures trade today as speculators indulged in creating fresh positions, supported by a firming global trend.

At the Multi Commodity Exchange, Gold for delivery in April rose by Rs 174, or 0.62 per cent, to Rs 28,318 per ten grams in business turnover of 76 lots.

Similarly, the yellow metal for delivery in February gained Rs 121, or 0.42 per cent, to Rs 28,799 per ten grams in 2,544 lots.

Analysts said fresh positions created by speculators in tandem with a firm global trend on speculation the US Federal Reserve may decide in its meeting today to refrain from reduction in monetary stimulus, mainly boosted the sentiment.

Meanwhile, gold gained 0.4 per cent to USD 1,235.68 an ounce in Singapore. 

Base Metals & Energy

COPPER  CRUDE OIL

                                                        D A I L Y B U Z Z

Copper prices slid by Rs 2 per kg on the local non-ferrous base metals market today on reduced 

industrial demand amid a weakening global trend.

Traders said sentiment in copper remained bearish after it fell in overseas markets as investors await a 

Federal Reserve decision on its monthly stimulus programme.

Meanwhile, copper for delivery in three months dropped 0.6 per cent to USD 7,237 a metric tonne on 

the London Metal Exchange. In the national capital, copper mixed scrap remained weak and shed 

another Rs 2 to Rs 427 per kg

Agro Outlook

CHANA  DHANIYA 

                                                       D A I L Y B U Z Z

Cardamom prices slid by 0.35 per cent to Rs 748.20 per kg in futures trade today owing to subdued demand in the spot market against adequate supplies from producing region.

At the Multi Commodity Exchange, cardamom for delivery in February slide by Rs 2.60, or 0.35 per cent, to Rs 748.20 per kg in business turnover of 39 lots.

Similarly, the spice for delivery in January weakened by 90 paise, or 0.12 per cent to Rs 720 per kg in 135 lots.

Mentha oil remained higher for the second straight day and prices traded higher by 0.12 per cent to Rs 845.60 per kg in futures trading today as speculators enlarged their positions, tracking a firm trend at spot market on rising demand from consuming industries.

Tight stocks position in the physical market due to less arrivals from Chandausi in Uttar Pradesh further fuelled the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in January traded higher by Re 1, or 0.12 per cent, to Rs 845.60 per kg in business turnover of 29 lots.

Similarly, the oil for delivery in December edged up by 80 paise, or 0.10 per cent, to Rs 833.90 per kg in 43 lots. 

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RESEARCH VIA DAILY COMMODITY REPORT FOR 18/DEC/2013

Precious Metals

SILVER  GOLD

                                                      D A I L Y B U Z Z

Silver prices fell by 0.55 per cent to Rs 45,080 per kg in futures trade today as speculators trimmed their positions, taking weak cues from the global markets. Besides, profit-taking also put pressure on silver futures.

At the Multi Commodity Exchange, silver for delivery in March next year traded lower by Rs 250, or 0.55 per cent, to Rs 45,080 per kg in business turnover of 389 lots. Similarly, the white metal for delivery in May 2014 declined by Rs 239, or 0.52 per cent, to Rs 46,027 per kg in business volume of six lots.

In the international market, silver traded 0.30 per cent lower at $ 19.92 an ounce in Singapore. Analysts said a subdued trend in precious metals in the global markets as investors await the Federal Reserve's decision on the timeline for reducing stimulus in the US and profit-booking by speculators , led to fall in silver futures prices here. 

Base Metals & Energy

COPPER  CRUDE OIL

                                                     D A I L Y B U Z Z

Crude oil eased to Rs 6,079 per barrel today in line with a weak trend in Asian trade as speculators trimmed positions.

At the Multi Commodity Exchange, crude oil for delivery in January fell by Re one, or 0.02 per cent,to 

Rs 6,079 per barrel, with a business volume of 548 lots.

Oil prices for delivery in February next year contracts fell by a similar margin to trade at Rs 6,110 per 

barrel, in business volume of 20 lots. Marketmen said the fall in crude oil futures prices was mostly in 

tune with a weak trend in Asian trade on growing expectations the US Federal Reserve will scale back its stimulus programme after a key two-day policy meeting starting today.

Meanwhile, crude oil for delivery in January was down 11 cents, to USD 97.37 a barrel on the New York Mercantile Exchange, while Brent North Sea crude for February shed 20 cents to USD 109.21.

Agro Outlook

CHANA  DHANIYA 

                                                  D A I L Y B U Z Z

Chana prices moved down by 0.42 per cent to Rs 3,062 per quintal in futures trading today due 

to increased supplies at spot market against fall in demand.

At the National Commodity and Derivatives Exchange, chana for delivery in January moved down by Rs 13, or 0.42 per cent, to Rs 3,062 per quintal with an open interest of 92,460 lots. Likewise, the commodity for delivery in December shed Rs 10, or 0.35 per cent, to Rs 2,860 per quintal in 2,430 lots.

Analysts attributed the fall in chana futures prices to increased supplies from producing regions 

against low demand in the spot market. 

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RESEARCH VIA DAILY COMMODITY REPORT FOR 17 DEC 2013

Precious Metals

GOLD  SILVER 

                                                    D A I L Y B U Z Z

Gold prices fell 0.45 per cent to Rs 29,299 per 10 grams in futures trading today as participants reduced positions largely in tandem with a weak overseas trend.

At the Multi Commodity Exchange, Gold for delivery in February next year eased by Rs 133, or 0.45 per cent, to Rs 29,299 per 10 grams in a business turnover of 371 lots.

Likewise, the metal for delivery in far-month April shed Rs 85, or 0.29 per cent, to Rs 28,814 per 10 grams in seven lots.

Analysts said a weak trend in the overseas markets amid speculation that Federal Reserve policy makers may decide to start cutting back asset purchases this week, and as a survey showed that holdings in exchange-traded products will contract further next year, mainly weighed on gold prices at futures trade.

Globally, gold fell 0.3 per cent to USD 1,234.90 an ounce in Singapore today.

Base Metals & Energy

COPPER  CRUDE OIL

                                                  D A I L Y B U Z Z

Crude oil futures prices fell by 0.53 per cent to Rs 6,002 per barrel today as speculators trimmed positions despite a firming trend in Asian trade.

At the Multi Commodity Exchange, crude oil for delivery in December fell by Rs 32, or 0.53 per cent, to Rs 6,002 per barrel in 854 lots.

Similarly, oil for delivery in January next year moved down by Rs 30, or 0.49 per cent, to Rs 6,059 per 

barrel in 80 lots. Market analysts said trimming of positions by speculators mainly put pressure on crude oil at futures trade but a firming trend in Asian trade as investors focused on the US Federal Reserve's policy meeting this week for clues about its long-awaited stimulus pullback, capped the losses.

Globally, crude oil for January delivery was up 4 cents at USD 96.66 a barrel on the New York Mercantile Exchange in mid-morning trade today.

Aluminium prices fell by 0.50 per cent to Rs 109.50 per kg in futures trading today as speculators offloaded their positions amid weak cues from global markets.

Besides, subdued demand in the domestic spot markets also weighed on metal prices. At the Multi Commodity Exchange, aluminium for delivery in December declined by 45 paise, or 0.50 per cent, to Rs 109.85 per kg in business turnover of 120 lots.

Similarly, the metal for delivery in January traded lower by 55 paise, or 0.49 per cent, to Rs 111.55 per kg in four lots.

Agro Outlook

CHANA  DHANIYA

                                                D A I L Y B U Z Z

Refined soya oil prices fell by 0.57 per cent to Rs 692 per 10 kg in futures market today as speculators reduced positions, driven by sluggish demand in the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in December fell by Rs 3.95, or 0.57 per cent, to Rs 692 per 10 kg with an open interest of 20,400 lots.

Likewise, oil for delivery in January traded lower by Rs 3.45, or 0.50 per cent, to Rs 691 per 10 kg in 1,00,460 lots.

Analysts said speculators reducing positions due to subdued demand in the spot market against adequate stocks position led to decline in refined soya oil prices at futures trade.

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RESEARCH VIA DAILY COMMODITY REPORT FOR 13-12-13

Precious Metals

SILVER  GOLD

                                                      D A I L Y B U Z Z

Gold prices fell by Rs 110 to Rs 31,040 per ten grams in the national capital today on profitselling by stockists at existing higher levels amid a weak global trend.

However, silver gained for the third straight day by adding Rs 60 to Rs 45,060 per kg on increased offtake by industrial units and coin makers.

Traders said profit-selling by stockists at existing higher levels amid a weak global trend as congressional negotiators reached a US budget agreement, curbing the appeal of the metal as a safe haven, mainly influenced gold prices.

Gold in New York, which normally sets price trend on the domestic front, fell by 0.3 per cent to USD 1,257.20 an ounce last night.

On the domestic front, gold of 99.9 and 99.5 per cent purity fell by Rs 110 each to Rs 31,040 and Rs 30,840 per ten grams, respectively. It had gained Rs 425 yesterday. Sovereign held steady at Rs 25,300 per piece of eight gram. On the other hand, silver ready rose by Rs 60 to Rs 45,060 per kg and weekly-based delivery by similar margin to Rs 45,660 per kg. The white metal had gained Rs 1,530 in the previous two sessions.

Silver coins continued to be asked at last level of Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.

Base Metals & Energy

COPPER  CRUDE OIL

                                                     D A I L Y B U Z Z

Nickel prices moved up by 0.65 per cent to Rs 872.30 per kg in futures trade today as speculators 

created fresh positions, supported by rising demand from alloy-makers in the spot market amid a firm 

global trend.

At the Multi Commodity Exchange, nickel for delivery in December rose by Rs 5.60, or 0.65 per cent, to Rs 872.30 per kg in a business turnover of 6,722 lots.

Similarly, the metal for delivery in January moved up by Rs 4.50, or 0.51 per cent, to Rs 879.50 per kg in 614 lots.

Analysts attributed the rise in nickel futures to a firm global trend as major smelters in Japan plan to 

seek alternative ore supplies amid mounting concerns over Indonesian shipments.

Meanwhile, nickel for delivery in three months gained one per cent to $14,175 a tonne on the London 

Metal Exchange. 

Agro Outlook

CHANA  DHANIYA

                                                D A I L Y B U Z Z

Mentha oil prices extended gains by adding 0.38 per cent to Rs 3.20 per kg in futures trade today on the back of increased domestic as well as exports demand.

Besides, reports of lower output this season also influenced the prices, traders said.

At the Multi Commodity Exchange, Mentha oil for delivery in December rose by Rs 3.20, or 0.38 per cent, to Rs 841 per kg, clocking a business volume of 256 lots. The oil for January contract traded higher by Rs 3, or 0.35 per cent, to Rs 852.90 per kg, with a trading volume of 61 lots.Potato prices fell by 1.19 per cent to Rs 913 per quintal in futures trade today as speculators offloaded their positions due to low demand in spot markets.

The trading sentiment weakened further as a result of easy availability of potato in the spot markets following fresh arrivals from producing regions.

At the Multi Commodity Exchange, potato prices for April contract fell by Rs 11, or 1.19 per cent, to Rs 913 per quintal, with a business volume of 24 lots.

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RESEARCH VIA PRECIOUS METALS, BASE METALS, ENERGY & AGRO UPDATE FOR 12-12-13

PRECIOUS  METALS

SILVER  GOLD

                                                      D A I L Y B U Z Z

Gold prices rose by 0.15 per cent to Rs 29,580 per 10 grams in futures trade today after speculators enlarged positions on the back of positive global cues as the dollar weakened. 

At the Multi Commodity Exchange, gold for delivery in February was up by Rs 45, or 0.15 per cent, to Rs 29,580 per 10 grams in business turnover of 976 lots. 

The metal for delivery in April contracts moved up by Rs 43, or 0.15 per cent, to Rs 29,155 per 10 grams in a turnover of 21 lots. 

Analysts said a firming trend in global market as the dollar weakened, boosting the appeal of the precious metal as an alternative investment, mainly influenced gold prices at futures trade here. 

Silver prices rose Rs 183 to Rs 46,532 per kg in futures trading today as speculators created fresh positions buoyed by a firm global trend. 

At the Multi Commodity Exchange, silver for delivery in May 2014 traded Rs 183, or 0.39 per cent, higher at Rs 46,532 per kg in a business turnover of 24 lots. 

Likewise, the white metal for delivery in March traded higher by Rs 149, or 0.33 per cent, to Rs 45,599 per kg in 1,200 lots.

Base Metals & Energy

COPPER  CRUDE OIL

                                                   D A I L Y B U Z Z

Buoyed by a firming trend in global markets, copper futures rose by 0.26 per cent to Rs 448.90 per kg 

today as speculators enlarged positions. 

Besides, a pick-up in demand at spot markets also supported the upside. 

At the Multi Commodity Exchange, copper for delivery in February next year was up by Rs 1.15, or 0.26 per cent, to Rs 448.90 per kg, with a business turnover of 684 lots. 

Similarly, the metal for delivery in April 2014 traded 85 paise, or 0.19 per cent, higher at Rs 454.55per 

kg, with a business turnover of 7 lots. 

Marketmen attributed the rise in copper futures to a firming overseas trend after the AsianDevelopment 

Bank raised China's 2013 economic growth forecast to 7.7 per cent from 7.6 per cent in October and 

increased its 2014 estimate to 7.5 per cent from 7.4 per cent. 

Globally, copper for the metal for delivery in three months traded a shade higher at $7,155.50 per tonne at the London Metal Exchange, while on the Shanghai Futures exchange it rose 0.2 per cent to 51,200 

yuan ($8,433) a tonne.

Agro Outlook

CHANA   DHANIYA

                                                  D A I L Y B U Z Z

Chana prices fell by Rs 31 to Rs 2,890 per quintal in futures trade today on profit-booking by speculators on prospects of a better crop.

Increased supply from major producing regions also put pressure on chana prices in futures trade.

At the National Commodity and Derivative Exchange, chana for December delivery declined by Rs 31, or 1.06 per cent, to Rs 2,890 per quintal, with an open interest for 36,620 lots.

Similarly, chana for January delivery fell by Rs 26, or 0.84 per cent, to Rs 3,057 per quintal with open interest of 84,430 lots.

Traders said sluggish demand in the domestic market at existing higher prices and increased arrivals from Madhya Pradesh and Rajasthan, mainly led to the fall in chana futures prices.

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DAILY COMMODITY REPORT FOR 11 DEC 2013

Precious Metals

SILVER  GOLD

                                                     D A I L Y B U Z Z

Gold prices rose by 0.83 per cent to Rs 29,324 per ten grams in futures trade today as speculators created fresh positions, tracking a firm global trend.

At the Multi Commodity Exchange, gold for delivery in April rose by Rs 239, or 0.83 per cent, to Rs 28,650 per ten grams in a business turnover of 91 lots.

Similarly, the metal for delivery in February moved up by Rs 207, or 0.71 per cent, to Rs 29,117 per ten grams in 3,919 lots.

Silver prices moved up by 1.81 per cent to Rs 45,849 per kg in futures market today as speculators created fresh positions on higher global trend.

At the Multi Commodity Exchange, silver for delivery in May rose by Rs 813, or 1.81 per cent, to Rs 45,849 per kg in business turnover of 149 lots.

Likewise, the white metal for delivery in March moved up by Rs 756, or 1.71 per cent, to Rs 44,916 per kg in 6,957 lots.

Base Metals & Energy

COPPER CRUDE OIL

                                                   D A I L Y B U Z Z

Taking weak cues from global markets, aluminium prices fell to Rs 106.75 per kg in futures trading today as speculators offloaded positions.

Further, sluggish demand in the domestic spot markets also weighed on the metal prices.

At the Multi Commodity Exchange, aluminium for delivery in December declined by 55 paise, or 0.51 

per cent, to Rs 106.75 per kg in business turnover of 153 lots. Similarly, the metal for delivery in January 2014 contracts traded lower by 50 paise, or 0.46 per cent, to Rs 108.50 per kg in 13 lots.

Amid a weak trend in the global markets and sluggish domestic demand, zinc futures today fell 0.21 per cent to Rs 116.75 per kg as participants reduced their positions.

At the Multi Commodity Exchange, zinc for delivery in January traded lower by 25 paise, or 0.21 per 

cent, to Rs 116.75 per kg, with a business turnover of six lots.

The metal for delivery in current month fell by 20 paise, or 0.17 per cent, to Rs 115.55 per kg in a 

turnover of 110 lots.

Nickel prices dropped 0.39 per cent to Rs 850.60 per kg in futures trade today after participants 

trimmed holdings tracking a weak trend overseas amid sluggish demand from alloy-makers in the spot 

market. At the Multi Commodity Exchange, nickel for delivery in January next year dropped by Rs 3.30, or 0.39 per cent, to Rs 850.60 per kg in a business turnover of 19 lots. The metal for delivery in current month shed Rs 2.70, or 0.32 per cent, to Rs 842 per kg in 48 lots.

Agro Outlook

CHANA  DHANIYA

                                                D A I L Y B U Z Z

Cardamom prices fell by Rs 12.70 to Rs 615.30 per kg in futures trade today due to the adequate 

stocks availability in the physical market on account of higher supply from the producing belts.

Sentiment weakened further as the traders booked profits at the prevailing levels in the midst of 

a subdued demand for the commodity.

At the Multi Commodity Exchange, cardamom for delivery in December declined Rs 12.70, or 

2.02 per cent, to Rs 615.30 per kg in a business turnover of 3 lots.

Similarly, the spice for delivery in January traded lower by Rs 1.30, or 0.18 per cent, to Rs 719.80 

per kg with trading volume of 249 lots.

Market analysts said offloading of positions by traders amid a weak spot market trend on subdued demand mainly led to a fall in cardamom futures prices.

Adequate stocks position in the physical market also influenced trading in cardamom prices, they said.

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DAILY COMMODITY REPORT FOR 10 DEC 2013

Precious Metals

GOLD  SILVER

                                                     D A I L Y B U Z Z

Snapping its two-day losing streak, gold rebounded by Rs 255 to Rs 30,755 per ten grams in the national capital today on low level buying by stockists and retailers for the ongoing marriage season.

However, silver remained under selling pressure for the sixth straight session and shed Rs 30 to Rs 43,470 per kg. It had lost Rs 1,575 in the previous five sessions.

Traders said low level buying by stockists and retailers for the ongoing marriage season led the recovery in gold.

They said silver remained under selling pressure against reduced offtake by industrial units and surrendered fresh ground.

On the domestic front, gold of 99.9 and 99.5 per cent purity rebounded by Rs 255 each to Rs 30,755 and Rs 30,555 per ten grams, respectively. It had lost Rs 750 in last two days. Sovereign rose by Rs 100 to Rs 25,200 per piece of eight gram.

On the other hand, silver ready continued to slide by Rs 30 to Rs 43,470 per kg and weeklybased delivery.

Base Metals & Energy

COPPER  CRUDE OIL

                                                     D A I L Y B U Z Z

Taking weak cues from global markets, aluminium prices fell to Rs 106.75 per kg in futures trading today as speculators offloaded positions.

Further, sluggish demand in the domestic spot markets also weighed on the metal prices.

At the Multi Commodity Exchange, aluminium for delivery in December declined by 55 paise, or 0.51 

per cent, to Rs 106.75 per kg in business turnover of 153 lots. Similarly, the metal for delivery in January 2014 contracts traded lower by 50 paise, or 0.46 per cent, to Rs 108.50 per kg in 13 lots.

Amid a weak trend in the global markets and sluggish domestic demand, zinc futures today fell 0.21 per cent to Rs 116.75 per kg as participants reduced their positions.

At the Multi Commodity Exchange, zinc for delivery in January traded lower by 25 paise, or 0.21 per 

cent, to Rs 116.75 per kg, with a business turnover of six lots.

The metal for delivery in current month fell by 20 paise, or 0.17 per cent, to Rs 115.55 per kg in a 

turnover of 110 lots.

Nickel prices dropped 0.39 per cent to Rs 850.60 per kg in futures trade today after participants trimmed holdings tracking a weak trend overseas amid sluggish demand from alloy-makers in the spot 

market. At the Multi Commodity Exchange, nickel for delivery in January next year dropped by Rs 3.30, or 0.39 per cent, to Rs 850.60 per kg in a business turnover of 19 lots. The metal for delivery in current month shed Rs 2.70, or 0.32 per cent, to Rs 842 per kg in 48 lots. 

Agro Outlook

CHANA  DHANIYA

                                                 D A I L Y B U Z Z

Cardamom prices fell by 0.42 per cent to Rs 705.50 per kg in futures trade today as speculators booked profits at prevailing levels amid subdued demand in the spot market.

Besides, adequate stocks position in the physical market following increased arrivals from producing belts also put pressure on cardamom.

At the Multi Commodity Exchange, cardamom for delivery in December fell by Rs 3, or 0.42 per 

cent to Rs 705.50 per kg in business turnover of 104 lots. Similarly, the spice for delivery in January shed Rs 2.30, or 0.31 per cent to Rs 733.50 per kg in 113 lots.

Analysts said besides profit-booking by speculators at prevailing higher levels, subdued demand in the spot market mainly influenced cardamom prices at futures trade. 

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REVIA DAILY MCX COMMODITY UPDATE FOR 09 DEC 2013

Precious Metals

SILVER  GOLD

                                                     D A I L Y B U Z Z

Gold prices fell by Rs 465 to Rs 30,785 per ten gram in the national capital today on reduced offtake by stockists at existing higher levels amid a weak global trend. 

Silver remained under selling pressure for the fourth straight day and lost Rs 200 to Rs 43,600 per kg, after losing Rs 1,275 in the previous three sessions. 

Traders said reduced offtake by stockists and retailers at existing higher levels amid a weak global trend as US economic data reinforced concern that the .

Gold in New York, which normally sets price trend on the domestic front, fell by 1.46 per cent to USD 1,225.10 an ounce and silver by 1.42 per cent to USD 19.44 an ounce last night. 

On the domestic front, gold of 99.9 and 99.5 per cent purity tumbled by Rs 465 each to Rs 30,785 and Rs 30,585 per ten gram, respectively. It had shot up by Rs 450 yesterday. Sovereign held steady at Rs 25,200 per piece of eight gram in scattered deals. 

Base Metals & Energy

COPPER CRUDE OIL

                                                  D A I L Y B U Z Z

Tracking a weak global trend, copper prices fell by 0.18 per cent to Rs 446.30 per kg in futures trade today as speculators offloaded positions. 

At the Multi Commodity Exchange, copper for delivery in February next year fell 80 paise, or 0.18 per cent, to Rs 446.30 per kg in business turnover of 642 lots. 

Similarly, the metal for delivery in April 2014 contracts traded lower by 65 paise, or 0.14 per cent, to Rs 452.50 per kg in 15 lots. 

Analysts attributed the fall in copper futures to weak global cues as investors weighed signs of improvement in the US economy against concern the Federal Reserve may start trimming its stimulus sooner than estimated. 

Agro Outlook

CHANA DHANIYA

                                                 D A I L Y B U Z Z

Chana prices rose by 0.14 per cent to Rs 2,911 per quintal in futures trade today as speculators created fresh positions, supported by an improvement in spot market demand due to ongoing marriage season. 

However, adequate stocks availability in the physical market and expectations of better output this season on favourable weather conditions, restricted the gains. 

At the National Commodity and Derivatives Exchange, chana for delivery in December rose by Rs 4, or 0.14 per cent t.

Similarly, the commodity for delivery in January edged up by Rs 4, or 0.13 per cent to Rs 3,036 per quintal in 69,690 lots. 

Analysts said fresh positions created by speculators after an improvement in spot market in view of marriage season mainly helped chana prices to trade higher at futures trade. 

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RESEARCH VIA DAILY COMMODITY REPORTS FOR 30 NOV 2013

Precious Metals

SILVER  GOLD

                                                        D A I L Y B U Z Z

Gold futures prices moved down by 0.36 per cent to Rs 30,049 per 10 grams today, after participants offloaded partial positions, taking weak cues from the global market. 

At the Multi Commodity Exchange, gold for delivery in December eased by Rs 110, or 0.36 per cent, to Rs 30,049 per 10 gm in business turnover of 660 lots. 

Likewise, the metal for delivery in February next year shed Rs 51, or 0.17 per cent, to Rs 29,229 per 10 gm in 257 lots. 

Market analysts said a weak trend in the overseas markets on speculation that the Federal Reserve will begin reducing monetary stimulus as the US economy strengthens, damping demand for haven assets, mainly weighed gold prices at futures trade. 

Globally, gold traded lower at USD 1,242.65 an ounce in Singapore today as against yesterday's USD 1,244.13. 

Base Metals & Energy

COPPER  CRUDE OIL

                                                      D A I L Y B U Z Z

Aluminium prices fell by 0.30 per cent to Rs 107.95 per kg in futures trading today as speculators offloaded their positions driven by weak global trend on supply outlook. 

At the Multi Commodity Exchange, aluminium for delivery in December declined by 40 paise, or 0.30 

per cent, to Rs 107.95 per kg in business turnover of 179 lots. 

Similarly, the metal for delivery in November traded lower by 30 paise, or 0.28 per cent to Rs 105.95 per k g in 232 lots. 

Market analysts said speculators offloaded their positions in tandem with a weak global trend amid 

signs that the metal will remain in oversupply, weighed on aluminium prices at futures trade here. 

Meanwhile, aluminium for delivery in three months fell USD 1,744 per tonne on the London Metal 

Exchange.

Agro Outlook

CHANA  DHANIYA

                                                     D A I L Y B U Z Z

Coriander prices fell by 1.14 per cent to Rs 7,500 per quintal in futures trade today as speculators 

booked profits at existing higher levels, influenced by a decline in demand in spot market. 

At the Multi Commodity Exchange, coriander for delivery in December fell by Rs 87, or 1.14 per 

cent, to Rs 7,500 per quintal with open interest of 25,790 lots. 

The spice for January delivery declined by Rs 80, or 1.02 per cent, to Rs 7,708 per quintal with an open interest of 13,720 lots. Market analysts said besides profit-booking by speculators at existing higher levels, sluggish demand in the spot market led to the fall in coriander futures prices. 

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RESEARCH VIA DAILY COMMODITY REPORT FOR 29 NOV 2013

Precious Metals
SILVER  GOLD
                                                          D A I L Y B U Z Z
Extending its losses for the second straight day, gold prices dropped by Rs 210 to Rs 31,215 per
ten gram in the national capital today on sustained selling by stockists on reduced offtake at higher levels amid weakening global trend.

Silver prices too fell by Rs 480 to Rs 44,800 per kg on reduced offtake by jewellers and coin makers.

Traders said weak demand at prevailing higher levels and retailers looking for more correction mainly kept pressure on gold and silver prices. They said weakening global trend after a report showed rising confidence among American consumers, reduced demand for the precious metals as a safe haven, further fuelled the selling pressure.

Gold in New York, which sets price trend on the domestic front, fell by 0.3 per cent to USD 1,237.90 an ounce and silver by 1.1 per cent to USD 19.68 an ounce last night.

On the domestic front, gold of 99.9 and 99.5 per cent purity fell further by Rs 210 each to Rs 31,215 and Rs 31,015 per ten gram, respectively. It had lost Rs 200 yesterday. Sovereign followed suit and shed Rs 100 to Rs 25,200 per piece of eight gram.

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REVIA DAILY COMMODITY REPORT FOR 28 NOV 2013

Precious Metals

SILVER  GOLD

                                              D A I L Y B U Z Z

Gold prices rose 0.14 per cent to Rs 30,175 per ten grams in futures trade today as speculators created positions, tracking a firm overseas trend. 

At the Multi Commodity Exchange, gold for delivery in December rose Rs 42, or 0.14 per cent, to Rs 30,175 per ten grams in business turnover of 2,013 lots. 

Similarly, the metal for delivery in February gained Rs 22, or 0.08 per cent, to Rs 29,325 per ten grams in 342 lots. 

Analysts attributed the rise in gold futures to a firm global trend on speculation that the decline to a four-month low may encourage purchases, while investors assessed the timing of a reduction in stimulus by the Federal Reserve. 

Meanwhile, gold gained 0.3 per cent to USD 1,246.75 an ounce in Singapore. 

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Commodity Precious Metals Tips & Ncdex Agro Outlook Update For 27 Nov 2013

SILVER   GOLD

                                                               D A I L Y B U Z Z

Silver prices rose by 0.98 per cent to Rs 44,936 per kg in futures trade today largely in tune with a recovery trend in precious metals overseas amid covering up of pending short positions by speculators.

At the Multi Commodity Exchange, silver for delivery in December traded higher by Rs 436, or 0.98 per cent, to Rs 44,936 per kg in business turnover of 987 lots.

Similarly, the white metal for delivery in far-mmonth March next year contracts traded Rs 431, or 0.94 per cent, higher at Rs 46,350 per kg in a turnover of 77 lots.

In the international market, silver rebounded to USD 20.11 an ounce in Singapore from yesterday's $19.59, the lowest since August 8.

Market analysts said besides short covering by speculators, a recovery in both the precious metals in the global market as the dollar weakened and lower prices spurred demand in China, the second-largest consumer, influenced silver prices in futures trade here.

COPPER CRUDE OIL

                                                                D A I L Y B U Z Z

Soybean futures January contract fell 2.83% to Rs 3823.5 per 100 kg, while December contract fel1 2.23% to Rs 3838 per 100 kg on Monday noon trade. Erractic domestic supplies, late rains in Madhya Pradesh, Maharashtra and Rajasthan have affected the yeilds and quality of soybeans causing short supply of quality beans and consequent bullish momentum to prices.

India soybean futures rose to near Rs 4000 per 100 kg last week on declining supplies in the spot market and healthy demand but has opened the week on a corrective note having fallen close to three percent in early trades on profit booking.

Soybean futures January contract fell 2.83% to Rs 3823.5 per 100 kg, while December contract fel1 2.23% to Rs 3838 per 100 kg on Monday noon trade. Erractic domestic supplies, late rains in Madhya Pradesh, Maharashtra and Rajasthan have affected the yeilds and quality of soybeans causing short supply of quality beans and consequent bullish momentum to prices.

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DAILY MCX COMMODITY TIPS ON PRECIOUS METALS FOR 25 NOV 2013

SILVER  GOLD
                                                         D A I L Y B U Z Z

Gold prices moved down by 0.43 per cent to Rs 29,941 per 10 gram in futures trade, after participants offloaded partial positions, taking weak cues from the global market.

At the Multi Commodity Exchange, gold for delivery in December eased by Rs 129, or 0.43 per cent, to Rs 29,941 per 10 gram in business turnover of 372 lots. Likewise, the metal for delivery in far-month February next year shed Rs 103, or 0.35 per cent, to Rs 29,329 per 10 gm in 34 lots.

Market analysts said a weak trend in the overseas markets after the US Federal Reserve signalled that policy makers may reduce monthly bond purchases in the coming months, mainly weighed on gold futures here.

Globally, gold fell 2.54 per cent to $1,242.80 an ounce in New York on Wednesday.

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REVIA DAILY COMMODITY REPORT 22 NOV 2013

Precious Metals
SILVER  GOLD 
                                                     D A I L Y B U Z Z

             Gold prices moved down by 0.43 per cent to Rs 29,941 per 10 gram in futures trade, after participants offloaded partial positions, taking weak cues from the global market. At the Multi Commodity Exchange, gold for delivery in December eased by Rs 129, or 0.43 per cent, to Rs 29,941 per 10 gram in business turnover of 372 lots. Likewise, the metal for delivery in far-month February next year shed Rs 103, or 0.35 per cent, to Rs 29,329 per 10 gm in 34 lots. 

           Market analysts said a weak trend in the overseas markets after the US Federal Reserve signalled that policy makers may reduce monthly bond purchases in the coming months, mainly weighed on gold futures here. Globally, gold fell 2.54 per cent to $1,242.80 an ounce in New York on Wednesday.December 2013 silver futures at the MCX were trading down 0.57% at Rs 44,742 per 1 kg after hitting high of Rs 44,851. It opened at Rs 44,851.

Base Metals & Energy

COPPER   CRUDE OIL

                                                     D A I L Y B U Z Z
Crude oil futures are trading lower in global markets on Thursday. January 2013 Brent crude oil futures down 0.32% to USD 107.71 a barrel on the New York Mercantile Exchange.

Meanwhile, January 2013 light sweet crude oil (WTI) futures decreased 0.27% to trade at USD 93.59 a barrel on the New York Mercantile Exchange (12.34 pm IST).

Agro Outlook
CHANA    DHANIYA
                                                     D A I L Y B U Z Z

In overseas markets, US corn and wheat futures rose marginally to $414 and $646 6/8 respectively while soybeans fell t $12.83 per bushel on favourable planting conditions in Argentina. Among the gainers were ICE Coffee, ICE Sugar and Cotton.

Mixed trends were visible in agri-commodities markets with turmeric futures in India's National Commodity and Derivatives Exchange (NCDEX) gain sharply this week on estimates of lower producers while Chana fell 2.36% to Rs 3149 s market sentiments turned bearish on inferior quality of the commodity in Rajasthan and Maharashtra markets.

In overseas markets, US corn and wheat futures rose marginally to $414 and $646 6/8 respectively while soybeans fell t $12.83 per bushel on favourable planting conditions in Argentina. Among the gainers were ICE Coffee, ICE Sugar and Cotton.

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Daily Market Update on Precious Metals, Base Metals & Energy, Agro FOR 21 NOV 2013

SILVER      GOLD

                                                        D A I L Y B U Z Z

Gold edged lower on Wednesday, failing to capitalise on dovish Federal Reserve's comments as investors awaited the release of the minutes of the U.S. central bank's policy meeting later in the session for clues on when it will trim its stimulus.

In a speech that echoed comments by his nominated successor, Janet Yellen, Bernanke said that while the economy had made significant progress, it was still far from where officials wanted it to be.

Spot gold fell 0.3 percent to $1,270.96 an ounce by 1058 GMT. The short-term upside was capped at 10-day moving average of $1,290, while a break below $1,260 would trigger losses to $1,220, VTB Capital said in a note.

U.S. gold futures for December delivery fell 0.3 percent to $1,270.10 an ounce.

The dollar was marginally lower against a basket of currencies ahead of the minutes for the October 29-30 Fed meeting, due for release at 1900 GMT. Investors were looking for detail of Fed discussions on the timing of any tapering.

COPPER    CRUDE OIL

                                                         D A I L Y B U Z Z

MCX crude oil is expected to witness further recovery during intra-day trade. US Energy Information Administration (EIA) is scheduled to release its weekly crude oil inventory data at 21.00 IST on Wednesday. Also a list of data releases are scheduled for the day and traders may get further details for their trading.

India crude oil prices edged higher due to short covering and was seen trading up on Wednesday amid a slight recovery in global crude oil futures. NYMEX crude oil for January delivery was seen trading at $93.89 per barrel as of 15.35 IST.

Crude oil futures on India's Multi Commodity Exchange (MCX) for December delivery was seen trading with a gain of 0.47% at Rs.5928 per barrel as of 15.37 IST on Wednesday.

MCX crude oil is expected to witness further recovery during intra-day trade. Resistance for the commodity is seen at 5960 and trading above the same may push the prices further till 6000. Support for the commodity is seen at 5900 and 4875 levels, according to Melbin Noble, Research Analyst at Commodity Online.

CHANA      DHANIYA

                                                      D A I L Y B U Z Z

In overseas markets, US corn and wheat futures rose marginally to $414 and $646 6/8 respectively while soybeans fell t $12.83 per bushel on favourable planting conditions in Argentina. Among the gainers were ICE Coffee, ICE Sugar and Cotton.

Mixed trends were visible in agri-commodities markets with turmeric futures in India's National Commodity and Derivatives Exchange (NCDEX) gain sharply this week on estimates of lower producers while Chana fell 2.36% to Rs 3149 s market sentiments turned bearish on inferior quality of the commodity in Rajasthan and Maharashtra markets.

In overseas markets, US corn and wheat futures rose marginally to $414 and $646 6/8 respectively while soybeans fell t $12.83 per bushel on favourable planting conditions in Argentina. Among the gainers were ICE Coffee, ICE Sugar and COtton.

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RESEARCH VIA DAILY COMMODITY REPORT FOR 20 NOV 13

Precious Metals
GOLD     SILVER 
                                                     D A I L Y B U Z Z
The trend in gold futures for December delivery on India's Multi Commodity Exchange (MCX) looks sideways to bearish for the day and intra-day traders are advised to sell on rise. MCX gold futures was seen trading with a gain of 0.13 at Rs.30090 per 10 grams as of 16.08 IST on Tuesday.

Gold prices continued their weakness in the global market and were seen trading almost steady amid weak physical demand, strengthening equity markets. Meanwhile, India gold futures remained almost steady tracking weak global cues and on appreciation of Indian Rupee against US Dollar.

Comex gold futures for December delivery was seen trading with a gain of $1 at $1273.3 per troy ounce as of 16.07 IST while the futures on India's Multi Commodity Exchange (MCX) was seen trading with a gain of 0.13 at Rs.30090 per 10 grams as of 16.08 IST on Tuesday.

Base Metals & Energy
COPPER      CRUDE OIL
                                                  D A I L Y B U Z Z
              Copper prices rose by 0.08 per cent on Tuesday at the domestic markets after German economic sentiment improved more-than-expected in November, rising to the highest level since October 2009 raising the demand outlook for the industrial metal. ZEW Centre for Economic Research said that its index of German economic sentiment rose by 1.8 points to hit 54.6 in November from October’s reading of 52.8. At the MCX, copper futures for November 2013 contract were trading at Rs. 433.40 per 1 kg, up by 0.08 per cent, after opening at Rs. 432.40 against the previous closing price of Rs. 433.05. It touched the intra-day high of Rs. 433.80 till the trading. (At 4.20 PM today). Sentiment improved further due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME copper stocks fell by 1300 metric tonnes to 447650 metric tonnes as on November 19, 2013.

            Crude oil prices rose by 0.14 per cent on Tuesday at the domestic markets as a probable decline in US crude oil stockpiles last week may signal a pickup in fuel demand in the world’s biggest crude oil consuming nation. US crude oil stockpiles may have declined 1 million barrels last week, according to
analysts’ estimates ahead of Energy Department data. At the MCX, crude oil futures for November 2013 contract were trading at Rs. 5,781 per barrel, up by 0.14 per cent, after opening at Rs. 5,773 against the previous closing price of Rs. 5,773. It touched the intra-day high of Rs. 5,794 till the trading. (At 4.45 PM today). Sentiment improved further after ZEW Centre for Economic Research said that its index of German economic sentiment rose by 1.8 points to hit 54.6 in November from October’s reading of 52.8 in turn raising the demand outlook for the fuel.

Agro Outlook
                                              D A I L Y B U Z Z
India soybean futures dropped on Wednesday as a result of profit booking despite weak Indian
currency and concerns over crop damage in key soybean growing areas due to excess rain fall
activities.

Soybean futures for December delivery on India's National Commodity and Derivatives Exchange (NCDEX) was seen trading with a loss of 1.13% at Rs.3920 per 100 kgs as of 13.14 IST on Wednesday.

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RESEARCH VIA DAILY COMMODITY REPORT FOR 19 NOV 2013

Precious Metals
SILVER  GOLD
                                                      D A I L Y B U Z Z

Gold prices recovered by 0.25 per cent to Rs 29,778 per 10 grams in futures trade today as speculators covered short positions even as precious metal remained weak overseas.

At the Multi Commodity Exchange, gold for delivery in December recovered by Rs 73, or 0.25 per cent, to Rs 29,778 per 10 gram in business turnover of 1,106 lots.

The metal for delivery in far-month February moved up by Rs 50, or 0.17 per cent, to Rs 29,479 per 10 gm in a turnover of 54 lots.

Silver prices recovered by 0.37 per cent to Rs 49,849 per kg in futures trade today, largely supported by covering-up of short positions by speculators even as the metal weakened in overseas markets.

At the Multi Commodity Exchange, silver for delivery in March next year contracts gained Rs 186, or 0.37 per cent, to Rs 49,849 per kg in a business turnover of 84 lots.

Similarly, the white metal for delivery in December gained Rs 154, or 0.32 per cent, to Rs 48,298 per kg, in a business volume of 1,153 lots. In the international market, silver lost one per cent to trade at USD 21.30 an ounce in Singapore.

Agro Outlook
CHANA  DHANIYA
                                                     D A I L Y B U Z Z

India soybean futures dropped on Wednesday as a result of profit booking despite weak Indian currency and concerns over crop damage in key soybean growing areas due to excess rain fall
activities.

Soybean futures for December delivery on India's National Commodity and Derivatives Exchange (NCDEX) was seen trading with a loss of 1.13% at Rs.3920 per 100 kgs as of 13.14 IST on Wednesday.

Continue reading →