Thursday, August 28, 2014

DAILY COMMODITY REPORT FOR 28 AUG 2014

Agro Outlook
D A I L Y B U Z Z
CARDAMOM
Cardamom prices rose by 1.63 per cent on Wednesday at the Multi Commodity Exchange (MCX) on account of good buying support from both exporters and upcountry buyers and also on hopes of improved export demand. At MCX, Cardamom futures for September 2014 contract were trading at Rs 940.90 per kg, up by 1.63 per cent, after opening at Rs. 926 against the previous closing price of Rs. 925.80. It touched the intra-day high of Rs. 943.90 till the trading. (At 10.41 AM today).

CORIANDER
Coriander prices rose by 0.43 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the limited stocks on account of restricted arrivals from the major growing belts. At the NCDEX, coriander futures for September 2014 contract was trading at Rs. 12,016 per quintal, up by 0.43 per cent after opening at Rs. 11,992 against the previous closing price of Rs. 11,965. It touched the intra-day high of Rs. 12,027 till the trading. (At 11.31 AM today).

Precious Metals
D A I L Y B U Z Z
GOLD
Gold futures ended higher in the domestic market on Tuesday as market players awaited updates from a meeting between Russian President Vladimir Putin and Ukrainian counterpart Petro Poroshenko later in the day. Russian President Vladimir Putin will meet his Ukrainian counterpart Petro Poroshenko for the first time in months in Belarus's capital of Minsk, in hopes of reaching a ceasefire or a political solution to the four-month old conflict in eastern Ukraine. However, a stronger dollar also curbed the appetite for the precious metal as an alternative investment. Stronger greenback makes gold more expensive for those holding other currencies, thus dimming demand. Gold futures may fall today ahead of US economic data which may show a pickup in the world’s biggest economy, boosting the case for early monetary tightening. Gold futures for October 2014 contract, at MCX, closed at Rs. 27,895 per 10 grams, up by 0.45 per cent, after opening at Rs. 27,813, against the previous closing price of Rs 27,771. It touched an intra-day high of Rs 28,040.

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