Precious Metals
D A I L Y B U Z Z
GOLD
Gold futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal ahead of the conclusion of US Federal Reserve’s two-day meet today.
Even as the Fed is likely to announce an exit from QE, it is unlikely to signal an interest rate hike in the near-term, bolstering the appeal of the bullion as a store of value.
Russia and Turkey boosted gold reserves in September while a weaker dollar also bolstered demand for the bullion as an alternative asset.
Gold futures for December 2014 contract, at MCX, is trading at Rs. 27,174 per 10 grams, up by 0.14 per cent, after opening at Rs. 27,187, against the previous closing price of Rs 27,135. It touched an intra-day high of Rs 27,195. (At 11:34 AM).
Agro Outlook
D A I L Y B U Z Z
CASTOR SEED
Castorseed prices fell by 0.29 per cent on Wednesday at the National Commodity & Derivatives
Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates.
At the NCDEX, castor seed futures for November 2014 contract was trading at Rs. 4,733 per quintal tonnes, down by 0.29 per cent, after opening at Rs. 4,735 against the previous closing price of Rs. 4,747. It touched the intra-day low of Rs. 4,725 till the trading. (At 12.20 PM today)
CORIANDER
Coriander prices fell by 0.72 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the adequate stocks availability in the physical market put pressure on coriander prices.
At the NCDEX, coriander futures for November 2014 contract were trading at Rs. 12,003 per quintal, down by 0.72 per cent, after opening at Rs. 12,140 against the previous closing price of Rs. 12,090. It touched the intra-day low of Rs. 11,977 till the trading. (At 11.45 AM today)
