Tuesday, March 25, 2014

DAILY COMMODITY REPORT 25 MARCH 2014

Precious Metals
D A I L Y B U Z Z
SILVER
Silver prices fell 0.72 per cent to trade at Rs 44,329 per kg in futures trade today as speculators reduced their exposures on weak cues from global markets.

At the Multi Commodity Exchange, silver for delivery in May dipped by Rs 322, or 0.72 per cent, to Rs 44,329 per kg in business turnover of 951 lots. 

In a similar fashion, the white metal for delivery in July traded lower by Rs 307, or 0.67 per cent, at Rs 45,228 per kg in 49 lots. 

Analysts said trimming of positions by speculators amid a weak trend overseas on speculation that US interest rates will increase next year, mainly weighed on silver futures here. 

Meanwhile, silver fell by 1.1 per cent to USD 20.10 an ounce in Singapore today, the lowest since February 11.

Base Metals & Energy
D A I L Y B U Z Z
ZINC
Zinc prices declined by 0.59 per cent to Rs 117.80 per kg in futures trade today as speculators offloaded their positions tracking a weak trend overseas.

At the Multi Commodity Exchange, zinc for delivery in March declined by 70 paise, or 0.59 per cent, to Rs 117.80 per kg in business turnover of 279 lots.

Likewise, the metal for delivery in April weakened by 55 paise, or 0.46 per cent, to Rs 118.80 per kg in 27 lots. Market analysts said speculators offloaded their positions in tandem with a weak global trend as Chinese manufacturing data unexpectedly declined in March, which mainly led to fall in zinc prices at futures trade. 

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