Thursday, December 12, 2013

RESEARCH VIA PRECIOUS METALS, BASE METALS, ENERGY & AGRO UPDATE FOR 12-12-13

PRECIOUS  METALS
SILVER  GOLD
                                                      D A I L Y B U Z Z
Gold prices rose by 0.15 per cent to Rs 29,580 per 10 grams in futures trade today after speculators enlarged positions on the back of positive global cues as the dollar weakened. 
At the Multi Commodity Exchange, gold for delivery in February was up by Rs 45, or 0.15 per cent, to Rs 29,580 per 10 grams in business turnover of 976 lots. 
The metal for delivery in April contracts moved up by Rs 43, or 0.15 per cent, to Rs 29,155 per 10 grams in a turnover of 21 lots. 
Analysts said a firming trend in global market as the dollar weakened, boosting the appeal of the precious metal as an alternative investment, mainly influenced gold prices at futures trade here. 
Silver prices rose Rs 183 to Rs 46,532 per kg in futures trading today as speculators created fresh positions buoyed by a firm global trend. 
At the Multi Commodity Exchange, silver for delivery in May 2014 traded Rs 183, or 0.39 per cent, higher at Rs 46,532 per kg in a business turnover of 24 lots. 
Likewise, the white metal for delivery in March traded higher by Rs 149, or 0.33 per cent, to Rs 45,599 per kg in 1,200 lots.

Base Metals & Energy
COPPER  CRUDE OIL
                                                   D A I L Y B U Z Z
Buoyed by a firming trend in global markets, copper futures rose by 0.26 per cent to Rs 448.90 per kg 
today as speculators enlarged positions. 
Besides, a pick-up in demand at spot markets also supported the upside. 
At the Multi Commodity Exchange, copper for delivery in February next year was up by Rs 1.15, or 0.26 per cent, to Rs 448.90 per kg, with a business turnover of 684 lots. 
Similarly, the metal for delivery in April 2014 traded 85 paise, or 0.19 per cent, higher at Rs 454.55per 
kg, with a business turnover of 7 lots. 
Marketmen attributed the rise in copper futures to a firming overseas trend after the AsianDevelopment 
Bank raised China's 2013 economic growth forecast to 7.7 per cent from 7.6 per cent in October and 
increased its 2014 estimate to 7.5 per cent from 7.4 per cent. 
Globally, copper for the metal for delivery in three months traded a shade higher at $7,155.50 per tonne at the London Metal Exchange, while on the Shanghai Futures exchange it rose 0.2 per cent to 51,200 
yuan ($8,433) a tonne.

Agro Outlook
CHANA   DHANIYA
                                                  D A I L Y B U Z Z
Chana prices fell by Rs 31 to Rs 2,890 per quintal in futures trade today on profit-booking by speculators on prospects of a better crop.
Increased supply from major producing regions also put pressure on chana prices in futures trade.
At the National Commodity and Derivative Exchange, chana for December delivery declined by Rs 31, or 1.06 per cent, to Rs 2,890 per quintal, with an open interest for 36,620 lots.
Similarly, chana for January delivery fell by Rs 26, or 0.84 per cent, to Rs 3,057 per quintal with open interest of 84,430 lots.
Traders said sluggish demand in the domestic market at existing higher prices and increased arrivals from Madhya Pradesh and Rajasthan, mainly led to the fall in chana futures prices.

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