Monday, March 10, 2014


Precious Metals
                                                    D A I L Y B U Z Z
Gold tumbled 1 per cent on Friday after data showed US job growth accelerated sharply, easing fears of an abrupt economic slowdown and keeping the Federal Reserve on track to continue reducing its monetary stimulUS.
Bullion pared some early losses after benchmark 10-year Treasury yields gave back some gains after initially rising to a six-week high. Weaker US equities after early advances also helped lift gold from its lows. Spot gold fell as much as 1.5 per cent to a session low of $1,329.35 an ounce, and was last trading down 1 per cent at $1,337.19 by 1:11 p.m. EST (1811 GMT).

US COMEX gold futures for April delivery fell $14 to $1,337.80 an ounce, with trading volume about 20 per cent above its 30-day average, preliminary Reuters data showed.

The metal, seen as a safe haven, was still on track for a fifth straight week of gains, capitalising on gains made earlier in the week when tensions in Ukraine escalated.

Agro Outlook
                                                    D A I L Y B U Z Z
Amid rising domestic demand and restricted supplies from producing regions, cardamom prices extended gains for the second straight day by gaining 1.90 per cent to Rs 751.90 per kg in futures trade today as speculators busy in enlarged their positions. At the Multi Commodity Exchange, cardamom for delivery in March rose further by 14, or 1.90 per cent to Rs 751.90 per kg in business turnover of 111 lots. Similarly, the spice for delivery in April traded higher by Rs 4.20, or 0.52 per cent to Rs 819.70 per kg in 339 lots.

Analysts said speculators enlarged positions on the back of rising demand in the spot market against restricted supplies from producing belts mainly helped cardamom prices to gain for the second straight day at futures trade.