Friday, March 7, 2014


Precious Metals
                                                   D A I L Y B U Z Z
Gold futures prices today moved down by 0.24 per cent to Rs 30,085 per 10 gram, after participants offloaded partial positions, taking weak cues from the global market.

At the Multi Commodity Exchange, gold for delivery in April eased by Rs 73, or 0.24 per cent, to Rs 30,085 per 10 gm in business turnover of 451 lots. Likewise, the metal for delivery in farmonth June shed Rs 18, or 0.06 per cent, to Rs 29,395 per 10 gm in 75 lots.

Market analysts said a weak trend in the Asian markets after investors cut holdings due to slowed physical purchases in China, the world's largest consumer, mainly weighed on the gold prices at futures trade here. Globally, gold traded lower at US $ 1,336.80 an ounce in early trade today as against yesterday's US $ 1,336.90 in Singapore.

Base Metals & Energy
                                                 D A I L Y B U Z Z
Tracking a weakening trend overseas and subdued domestic demand, zinc futures prices today
fell by 0.42 per cent to Rs 130.45 per kg as participants reduced their positions.

At the Multi Commodity Exchange, zinc for delivery in April traded lower by 55 paise, or 0.42 per cent, to Rs 130.45 per kg, with a business turnover of 45 lots. The metal for delivery in March fell by 45 paise, or 0.35 per cent, to trade at Rs 129.90 per kg in a turnover of 474 lots.

Marketmen attributed fall in zinc prices at futures trade was mostly in tune with a weak trend overseas where copper and other base metals declined and subdued demand at domestic spot markets.

Crude oil futures prices today fell by 0.89 per cent to Rs 6,218 per barrel, as speculators trimmed positions amid a weakening trend in the Asian trade.

At the Multi Commodity Exchange, crude oil for delivery in March fell by Rs 56 or 0.89 per cent, to Rs 6,218 per barrel in 2,812 lots. Similarly, the oil for April delivery moved down by Rs 60, or 0.89 per cent, to Rs 6,226 per barrel in 223 lots.

The trading sentiment turned weak at futures trade after crude oil prices declined in Asian trade on data showing weaker US energy demand, analsyts said. Meanwhile, West Texas Intermediate crude oil for April delivery shed 33 cents to US $ 101.12 a barrel on the New York Mercantile Exchange.