Thursday, November 14, 2013


REVIA MCX: BUY GOLD ABOVE 30190 TGTS 30240/30310/30410 SL 30140 (9977785000)WWW.RESEARCHVIA.COM

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.

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.

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

India crude oil fell sharply on Wednesday amid weak international cues. Concerns over rising US crude oil stock-piles and fears that US Federal Reserve may start reducing its monetary stimulus soon on
improving economic conditions in the US.

The American Petroleum Institute (API) and US Energy Information Administration (EIA) are scheduled to release their weekly data on US crude oil stocks at 03.00 and 21.30 IST on Thursday.
The data may give further trading clues for crude oil investors.

WTI crude oil for December delivery on NYMEX was seen trading with a gain of 19 cents at $93.23 per barrel as of 15.29 IST on Wednesday.

Crude oil futures for December delivery on India's Multi Commodity Exchange (MCX) was seen trading with a loss of 1.24% at Rs.5958 per barrel as of 14.39 IST on Wednesday.

Intra-day support for MCX crude oil November delivery is seen at 5980 and 5950 levels while resistance is seen at 6080 and 6130 levels.