Saturday, March 29, 2014

RESEARCH VIA MCX COMMODITY REPORT FOR 31 MARCH 2014

Precious Metals
D A I L Y B U Z Z
GOLD
Snapping its four-day losing streak, gold prices recovered marginally by Rs 5 to Rs 29,355 per ten grams in the national capital today on revival of buying at existing lower levels amid a firm global trend.

Silver also recovered by Rs 139 to Rs 43,539 per kg on fresh buying by industrial units. Traders said revival of buying by retailers at existing lower levels led the marginal recovery in gold prices. 

Firm global trend also influenced the sentiment to some extent, they said. 

Gold in Singapore, which normally sets price trend on the domestic front, rose 0.4 per cent to $1,296.80 an ounce and silver by 0.8 per cent to $19.86 an ounce. 

On the domestic front, gold of 99.9 and 99.5 per cent purity inched up by Rs 5 each to Rs 29,355 and Rs 29,155 per ten grams, respectively, after losing Rs 1,000 in the previous four sessions. 

However, sovereign declined by Rs 100 to Rs 24,800 per piece of eight grams.

Agro Outlook
D A I L Y B U Z Z
CHANA
Chana prices moved down by 0.46 per cent to Rs 3,276 per quintal in futures trading today as speculators booked profits at prevailing higher levels driven by subdued demand in the spot market. 

At the National Commodity and Derivative Exchange, chana for delivery in April declined by Rs 15, or 0.46 per cent to Rs 3,276 per quintal with an open interest of 60,930 lots. Likewise, the commodity for delivery in May contract traded lower by Rs 15, or 0.45 per cent to Rs 3,333 per quintal in 49,720 lots. 

TURMERIC
Turmeric prices fell by 1.80 per cent to Rs 6,220 per quintal in futures market today as speculators trimmed positions, tracking sluggish demand in spot market. 

At the National Commodity and Derivatives Exchange, turmeric for delivery in April fell by Rs 114, or 1.80 per cent to Rs 6,220 per quintal with an open interest of 14,295 lots. 

Similarly, the spice for delivery in May lost Rs 100, or 1.56 per cent to Rs 6,310 per quintal in 7165 lots.

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