Precious Metals
D A I L Y B U Z Z
GOLD
Gold futures were trading with slim gains in the domestic market on Monday as a weaker rupee against the US dollar pushed up domestic bullion prices. Depreciation in the Indian rupee against the greenback tends to exert upward pressure on domestic bullion prices.
However, caution ahead of US economic data which may show a revival in personal spending last month may signal a pickup in the world’s biggest economy, bolstering the case for the US Federal Reserve to raise borrowing costs, dimming the appeal of the bullion as a store of value, curbed gains in the precious metal.
Gold futures for October 2014 contract, at MCX, is trading at Rs. 26,829 per 10 grams, up by 0.13 per cent, after opening at Rs. 26,855, against the previous closing price of Rs 26,793. It touched an intra-day high of Rs 26,855
Energy
D A I L Y B U Z Z
CRUDE OIL
Crude oil futures eased by 0.59 per cent to Rs 5,741 per barrel today as speculators reduced their exposures amid a weakening trend in Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in October traded Rs 34, or 0.59 per cent, to Rs 5,741 per barrel in 2,312 lots.
In a likewise fashion, oil for November delivery moved down by Rs 30, or 0.52 per cent, to Rs 5,721 per barrel in 96 lots.
The trading sentiment eased at futures trade after crude oil prices fell in Asian trade today as the US dollar strengthened, analysts said.
Meanwhile, West Texas Intermediate (WTI) crude for November delivery dropped 59 cents to $92.95, while Brent crude for November fell 25 cents to $96.75 a barrel on the New York Mercantile Exchange in mid-morning trade.
