Wednesday, January 8, 2014


Precious Metals
                                                          D A I L Y B U Z Z
Gold prices declined by Rs 200 to Rs 30,160 per ten grams in the national capital today on selling by stockists against sluggish demand.

However, silver found some low level buying support and recovered by Rs 120 to Rs 45,350 per kg. It had lost Rs 270 in the previous two sessions.

Traders said stockists selling against sluggish demand mainly led to decline in gold prices.

At the domestic front, gold of 99.9 and 99.5 per cent purity fell by Rs 200 each to Rs 30,160 and Rs 29,960 per ten grams, respectively. Sovereign remained steady at Rs 25,100 per piece of eight grams.

On the other hand, silver ready recovered by Rs 120 to Rs 45,350 per kg and weekly-based delivery by a similar margin to Rs 45,500 per kg.

Silver coins continued to be asked at last level of Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.

Base Metals & Energy
                                                        D A I L Y B U Z Z
Nickel prices moved up by 0.13 per cent to Rs 852.20 per kg in futures trade today as speculators
enlarged their positions driven by rising demand from alloy-makers in the spot market.

At the Multi Commodity Exchange, nickel for delivery in January gained Rs 1.10, or 0.13 per cent, to Rs 852.20 per kg in a business turnover of 1,411 lots.

Similarly, the metal for delivery in February moved up by 90 paise, or 0.10 per cent, to Rs 860.40 per kg in 44 lots.

Agro Outlook
                                                     D A I L Y B U Z Z
Chana prices moved down by 0.82 per cent to Rs 3,017 per quintal in futures trading today as participants trimmed positions, triggered by increased supplies from producing regions against
subdued demand.

At the National Commodity and Derivative Exchange, chana for delivery in January moved down
by Rs 25, or 0.82 per cent, to Rs 3,017 per quintal with an open interest of 56,690 lots. Similarly,
the commodity for delivery in February lost Rs 21, or 0.68 per cent, to Rs 3,078 per quintal in
66,030 lots.

Refined soya oil remained weak for the second day and prices shed 0.56 per cent to Rs 682.50
per 10 kg in futures market today as speculators reduced positions following sluggish demand in
the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in January
fell further by Rs 3.85, or 0.56 per cent, to Rs 682.50 per 10 kg with an open interest of 34,140

Similarly, the oil for delivery in February declined by Rs 3.75, or 0.55 per cent, to Rs 675.60 per

10 kg in 1,24,140.