Precious Metals
SILVER GOLD
DAILY BUZZ
Silver regained Rs 52,000 per kg level today in futures trade as prices climbed 2.76 cent to Rs 52,097 per kg, taking positive cues from the global market after the US Federal Reserve decided to keep its stimulus programme intact.
At the Multi Commodity Exchange, silver prices for delivery in March contracts rose sharply by Rs 1,398, or 2.76 per cent, to trade at Rs 52,097 per kg, in business turnover of 41 lots. The white metal prices for delivery in December too zoomed by Rs 1,406, or 2.84 per cent, to Rs 50,983 per kg in a turnover of 1,240 lots.
Market analysts said speculative positions created by participants following gains in the precious metals overseas in response to a surprise decision by the US Federal Reserve to keep its massive stimulus programme intact, mainly influenced silver prices at futures trade here.
Besides, a hike in import duty on gold and silver jewellery by 5 per cent to 15 per cent by the government on Tuesday supported the upside, they said.
Globally, silver gained 0.8 per cent to $ 23.13 an ounce in Singapore today after soaring 5.5 percent yesterday.
Base Metals & Energy
COPPER CRUDE OIL
D A I L Y B U Z Z
Crude oil futures prices on Thursday moved down by 1.93 per cent to Rs 6,701 per barrel after speculators reduced positions amid strengthening rupee.
However, a firming trend in the Asian region after the US Federal Reserve kept its huge monetary stimulus programme for the economy intact, capped the losses.
At the Multi Commodity Exchange, crude oil for delivery in October fell by Rs 132 or 1.93 per
cent, to Rs 6,701 per barrel in 1,813 lots.
Oil for September delivery shed Rs 108 or 1.58 per cent to Rs 6,715 per barrel in a turnover of
2,340 lots.
Analysts said the fall in crude oil at futures trade was mostly attributed to rise in the rupee's value, making dollar-quoted crude cheaper but a firming trend in the Asian region, limited the losses.
The rupee zoomed by 158 paise to trade at over one-month high of 61.80 against the dollar. Meanwhile, West Texas Intermediate (WTI) crude for October delivery added 52 cents to USD 108.59 per barrel on the New York Mercantile Exchange in mid-morning trade today.
Agro Outlook
CHANA DHANIYA
D A I L Y B U Z Z
Chana prices moved down by 0.54 per cent to Rs 3,141 per quintal in futures market today as
speculators reduced holdings amid sluggish demand in the spot market against adequate supplies.
At the National Commodity and Derivatives Exchange, chana for delivery in October fell by Rs 17, or 0.54 per cent to Rs 3,141 per quintal with an open interest of 1,58,340 lots.
Likewise, the commodity for delivery in September declined by Rs 12 or 0.39 per cent to Rs 3,056 per quintal in 2,970 lots.
Amid rising demand and restricted arrivals from producing regions, Cardamom prices rose for the second day by adding 0.30 per cent to Rs 813.40 per kg in futures trade today as speculators enlarged their positions.
At the Multi Commodity Exchange, cardamom for delivery in November gained Rs 2.40, or 0.30 per cent to Rs 813.40 per kg in business turnover of 4 lots.
Similarly, the spice for delivery in October edged up by 40 paise, or 0.05 per cent to Rs 775.30 per kg in 238 lots.
