Tuesday, September 24, 2013

RESEARCH VIA DAILY PRECIOUS METALS, BASE METALS ENERGY & AGRO OUTLOOK 24/09/2013

SILVER GOLD
DAILY BUZZ

The prices of both precious metals, gold and silver, fell further in the national capital today onsustained selling by stockists on the back of sluggish demand amid a weak global trend.
While gold plunged by Rs 280 to Rs 30,500 per ten gram in continuation with a loss of Rs 30 yesterday, silver dropped by Rs 1,600 to Rs 49,500 per kg after easing Rs 100 in the previous session on poor offtake by jewellers and industrial units.
Gold in overseas markets, which normally set price trend on the domestic front, fell by 2.7 per cent to USD 1,332.50 an ounce, the biggest drop since July 5. Silver fell 5.9 per cent to USD 21.92 an ounce, the biggest drop since June 20.
On the domestic front, gold of 99.9 and 99.5 per cent purity plunged by Rs 280 each to Rs 30,500 and Rs 30,300 per ten gram, respectively. It had shed Rs 30 yesterday.
Sovereign followed suit and declined by Rs 100 to 25,100 per piece of eight gram. Silver ready and weekly-based delivery tumbled by Rs 1,600 each to Rs 49,500 per kg, respectively. The white metal had lost Rs 100 in last trade.Silver coins also dropped by Rs 1000 to Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.

D A I LY B U Z Z
COPPER CRUDE OIL
Nickel prices moved down by 0.85 per cent to Rs 868.20 per kg in futures trade today due to sluggish demand from alloy-makers in the spot market amid a weak global trend.
At the Multi Commodity Exchange, nickel for delivery in September declined by Rs 7.40, or 0.85 per cent to Rs 868.20 per kg in a turnover of 1,228 lots.
Similarly, the metal for delivery in October traded lower by Rs 6.80, or 0.77 per cent to Rs 878.20 per kg in 143 lots.
Globally, nickel slid 1.30 per cent to USD 13,885.00 a tonne on the London Metal Exchange (LME).
Crude oil futures price today fell 0.42 per cent to Rs 6,609 per barrel, as speculators t rimmed positions amid a mixed trend in Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in October fell by Rs 28, or 0.42 per cent, to Rs 6,609 per barrel in 3,708 lots.
In a likewise manner, oil for November moved down by Rs 20, or 0.30 per cent, to Rs 6,604 per barrel in 278 lots.
Meanwhile, West Texas Intermediate (WTI) crude for November delivery was down 4 cents to USD 104.71 a barrel on the New York Mercantile Exchange in mid-morning trade today.

DAILY BUZZ
CHANA  DHANIYA
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 deliv ery in November gained Rs 2.40, or 0.30per 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





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