Tuesday, November 12, 2013


Precious Metals
                                                        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.

Base Metals & Energy
                                                       D A I L Y B U Z Z
Lead futures prices rose marginally by 0.07 per cent today to trade at Rs 135.50 per kg on rising demand  in spot markets and positive cues from global markets.

At the Multi Commodity Exchange, lead for delivery in November traded 10 paise, or 0.07 per cent,
higher at Rs 135.50 per kg, with a turnover of 1,229 lots.

The metal for delivery in December also rose by a similar margin to trade at Rs 136.55 per kg, in a
business turnover of 133 lots.

Analysts said besides strong domestic demand from battery-makers, a firm trend in base metals at the

London Metal Exchange influenced lead prices at futures trade here.

Agro Outlook
                                                      D A I L Y B U Z Z
Sugar futures dropped due to poor demand and ample stocks with mills, and many trade and  industry officials believe the contract could fall further.

The key December contract was down 0.11 percent at 2,837 rupees per 100 kg at 1033 GMT on
the National Commodity and Derivatives Exchange.

India started the new sugar-marketing year with carry-forward stocks of 8.8 million tonnes. The
country is expected to produce 25 million tonnes this year against a demand of 23 million tonnes.

A pick-up in exports could help mills in trimming inventory and support prices, dealers said.

Indian traders have struck deals to export about 175,000 tonnes of raw sugar for DecemberJanuary delivery, marking their first sale in the new season that started on Oct. 1.

Spot sugar was unchanged at 3,200.00 rupees per 100 kg at the Kolhapur market in topproducing Maharashtra state.