Monday, December 9, 2013


Precious Metals
                                                     D A I L Y B U Z Z

Gold prices fell by Rs 465 to Rs 30,785 per ten gram in the national capital today on reduced offtake by stockists at existing higher levels amid a weak global trend. 
Silver remained under selling pressure for the fourth straight day and lost Rs 200 to Rs 43,600 per kg, after losing Rs 1,275 in the previous three sessions. 
Traders said reduced offtake by stockists and retailers at existing higher levels amid a weak global trend as US economic data reinforced concern that the .
Gold in New York, which normally sets price trend on the domestic front, fell by 1.46 per cent to USD 1,225.10 an ounce and silver by 1.42 per cent to USD 19.44 an ounce last night. 
On the domestic front, gold of 99.9 and 99.5 per cent purity tumbled by Rs 465 each to Rs 30,785 and Rs 30,585 per ten gram, respectively. It had shot up by Rs 450 yesterday. Sovereign held steady at Rs 25,200 per piece of eight gram in scattered deals. 

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

Tracking a weak global trend, copper prices fell by 0.18 per cent to Rs 446.30 per kg in futures trade today as speculators offloaded positions. 
At the Multi Commodity Exchange, copper for delivery in February next year fell 80 paise, or 0.18 per cent, to Rs 446.30 per kg in business turnover of 642 lots. 
Similarly, the metal for delivery in April 2014 contracts traded lower by 65 paise, or 0.14 per cent, to Rs 452.50 per kg in 15 lots. 
Analysts attributed the fall in copper futures to weak global cues as investors weighed signs of improvement in the US economy against concern the Federal Reserve may start trimming its stimulus sooner than estimated. 

Agro Outlook
                                                 D A I L Y B U Z Z
Chana prices rose by 0.14 per cent to Rs 2,911 per quintal in futures trade today as speculators created fresh positions, supported by an improvement in spot market demand due to ongoing marriage season. 
However, adequate stocks availability in the physical market and expectations of better output this season on favourable weather conditions, restricted the gains. 
At the National Commodity and Derivatives Exchange, chana for delivery in December rose by Rs 4, or 0.14 per cent t.
Similarly, the commodity for delivery in January edged up by Rs 4, or 0.13 per cent to Rs 3,036 per quintal in 69,690 lots. 
Analysts said fresh positions created by speculators after an improvement in spot market in view of marriage season mainly helped chana prices to trade higher at futures trade.