Thursday, December 19, 2013


Precious Metals
                                                        D A I L Y B U Z Z
Gold prices rose by 0.62 per cent to Rs 28,318 per ten grams in futures trade today as speculators indulged in creating fresh positions, supported by a firming global trend.

At the Multi Commodity Exchange, Gold for delivery in April rose by Rs 174, or 0.62 per cent, to Rs 28,318 per ten grams in business turnover of 76 lots.

Similarly, the yellow metal for delivery in February gained Rs 121, or 0.42 per cent, to Rs 28,799 per ten grams in 2,544 lots.

Analysts said fresh positions created by speculators in tandem with a firm global trend on speculation the US Federal Reserve may decide in its meeting today to refrain from reduction in monetary stimulus, mainly boosted the sentiment.

Meanwhile, gold gained 0.4 per cent to USD 1,235.68 an ounce in Singapore. 

Base Metals & Energy
                                                        D A I L Y B U Z Z
Copper prices slid by Rs 2 per kg on the local non-ferrous base metals market today on reduced 
industrial demand amid a weakening global trend.

Traders said sentiment in copper remained bearish after it fell in overseas markets as investors await a 
Federal Reserve decision on its monthly stimulus programme.

Meanwhile, copper for delivery in three months dropped 0.6 per cent to USD 7,237 a metric tonne on 
the London Metal Exchange. In the national capital, copper mixed scrap remained weak and shed 
another Rs 2 to Rs 427 per kg

Agro Outlook
                                                       D A I L Y B U Z Z
Cardamom prices slid by 0.35 per cent to Rs 748.20 per kg in futures trade today owing to subdued demand in the spot market against adequate supplies from producing region.

At the Multi Commodity Exchange, cardamom for delivery in February slide by Rs 2.60, or 0.35 per cent, to Rs 748.20 per kg in business turnover of 39 lots.

Similarly, the spice for delivery in January weakened by 90 paise, or 0.12 per cent to Rs 720 per kg in 135 lots.

Mentha oil remained higher for the second straight day and prices traded higher by 0.12 per cent to Rs 845.60 per kg in futures trading today as speculators enlarged their positions, tracking a firm trend at spot market on rising demand from consuming industries.

Tight stocks position in the physical market due to less arrivals from Chandausi in Uttar Pradesh further fuelled the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in January traded higher by Re 1, or 0.12 per cent, to Rs 845.60 per kg in business turnover of 29 lots.

Similarly, the oil for delivery in December edged up by 80 paise, or 0.10 per cent, to Rs 833.90 per kg in 43 lots.