Precious Metals
D A I L Y B U Z Z
GOLD
Gold futures rebounded in the domestic market on Thursday as deepening tensions between Russia and Ukraine boosted the safe haven demand for the bullion. The US accused Russia of directing a counteroffensive by rebels in eastern Ukraine and that the conflict is spreading to Ukraine’s peaceful regions. A weaker dollar also boosted the appeal of gold as an alternative asset. Weaker greenback makes gold cheaper for those holding other currencies, thus boosting demand. Gold futures for October 2014 contract, at MCX, is trading at Rs. 27,917 per 10 grams, up by 0.49 per cent, after opening at Rs. 27,824, against the previous closing price of Rs 27,780. It touched an intra-day high of Rs 27,934.
Agro Outlook
D A I L Y B U Z Z
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).
