Wednesday, December 18, 2013


Precious Metals
                                                      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
                                                     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
                                                  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.