Precious Metals
D A I L Y B U Z Z
GOLD/SILVER
Gold advanced Rs 81 in afternoon trading on the Multi Commodity Exchange of India (MCX) as overseas spot prices of the metal gained about $10 an ounce after reports the US had launched strikes against ISIS militants in Syria and Israel had brought down a Syrian jet.
Gold for October delivery on the MCX was up at Rs 26,669 per 10 gm. Spot gold overseas rose to $1,225 an ounce.
Gold prices had declined after the US Federal Reserve last week projected that a key interest rate could be raised higher than expected. Although gold gained on Tuesday, analysts expect the bearish overhang to continue.
In a similar fashion, silver ready rose by Rs 250 to Rs 39,500 per kg and weekly-based delivery by Rs 455 to Rs 39,350 per kg. The white metal had lost Rs 2,350 in the previous five sessions.
On the other hand, silver coins continued to be traded at last level of Rs 69,000 for buying and Rs 70,000 for selling of 100 pieces
Agro Outlook
D A I L Y B U Z Z
CARDAMOM
Cardamom prices rose by 0.80 per cent to Rs 878.10 per kg in futures trade today as speculators indulged in creating fresh positions driven by firm demand in the spot market.
Further, tight stocks in the physical market following restricted arrivals from producing belts also supported the uptrend.
At the Multi Commodity Exchange, Cardamom for October contracts rose by Rs 7.10, or 0.80 per cent, to Rs 878.10 per kg, with a trading volume of 211 lots.
The spice for delivery in November was trading up by Rs 6.70, or 0.74 per cent, to Rs 889.10 per kg, with a business volume of 33 lots.
