Precious Metals
D A I L Y B U Z Z
GOLD
Gold futures were trading little changed in the domestic market on Friday as investors and speculators stayed cautious over booking fresh positions in the precious metal amid speculation that the US Federal Reserve is on track to raise interest rates for the first time since 2006 next year, dimming the appeal of the bullion as a store of value.
Fewer American filed unemployment benefit claims last week, a leading indicator rose more than forecast while a regional manufacturing gauge surged this month and existing home sales climbed in October, adding to US economic optimism, reducing case for ultra-easy money policy by the Fed.
Gold futures for December 2014 contract, at MCX, is trading at Rs. 26,484 per 10 grams, up by 0.08 per cent, after opening at Rs. 26,483, against the previous closing price of Rs 26,463. It
touched an intra-day high of Rs 26,539. (At 11:30 AM).
Base Metals
D A I L Y B U Z Z
LEAD
Lead prices rose by 0.24 per cent on Friday at the domestic markets as a result of high demand for the commodity from battery-maker in the spot market in the midst of strong overseas trend. At the MCX, Lead futures, for the November 2014 contract, is trading at Rs 125.25 per kg, up by 0.24 per cent, after opening at Rs 125.70, against a previous close of Rs 125.95. It touched an intra-day high of Rs 126.45 till the trading. (At 3.15 PM )
Sentiment improved further due to the decline in the lead stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME lead stocks fell by 100 metric tonnes to 217025 metric tonnes as on November 21, 2014.
