Friday, December 27, 2013

RESEARCH VIA PRECIOUS, BASE METALS & ENERGY UPDATE FOR 27 DEC 2013

PRECIOUS  METALS
GOLD  SILVER 
                                                        D A I L Y B U Z Z

Gold rose marginally by 0.18 per cent to Rs 28,504 per 10 gm in futures trade today as participants enlarged positions mostly supported by a firming trend overseas after the recent fall.

Besides, pick up in demand in spot markets, also supported the upside.

At the Multi Commodity Exchange, metal for delivery in February gained Rs 50, or 0.18 per cent, to trade higher at Rs 28,504 per 10 gm in a turnover of 316 lots. Similarly, the metal for delivery in April moved up by Rs 46, or 0.17 per cent, to Rs 27,892 per 10 gm, clocking a business volume of five lots.

Silver rose by 0.15 per cent to Rs 44,056 per kg in futures market today largely in tune with a firming trend in the global markets.

At the Multi Commodity Exchange, silver for delivery in March moved up by Rs 64, or 0.15 per cent, to Rs 44,056 per kg in business turnover of 330 lots.

Similarly, the metal for delivery in May gained Rs 61, or 0.14 per cent, to Rs 45,000 per kg in a single lot.

BASE METALS & ENERGY
COPPER  CRUDE OIL
                                                         D A I L Y B U Z Z

Copper prices declined by Rs 2 per kg at the local non-ferrous base metals market today on subdued
demand at prevailing higher levels amid a weak global trend.

Other metals, however, remained flat in thin trade. Traders said subdued demand and a weak global
trend mainly led to decline in copper prices.

Meanwhile, copper for delivery in March retreated 0.3 per cent to close at 52,210 yuan ($8,599) a tonne on the Shanghai Exchange. The London Metal Exchange was closed for Christmas holiday.

In the national capital, copper mixed scrap declined by Rs 2 to Rs 429 per kg.

Crude oil futures prices rose by 0.42 per cent to Rs 6,186 per barrel today as speculators created fresh
positions, tracking a firming trend in Asia on supply concerns.

At the Multi Commodity Exchange, crude oil for delivery in January traded Rs 26, or 0.42 per cent,
higher at Rs 6,186 per barrel, with a business turnover of 1,479 lots.

The oil for delivery in February also moved up by Rs 25, or 0.40 per cent, to Rs 6,230 per barrel, with a business volume of 75 lots.

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