Precious Metals
D A I L Y B U Z Z
GOLD
Gold futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the precious metal amid bets that the US Federal Reserve may refrain from tightening monetary policy in the near-term as the jobs data for the month of October lagged estimates, bolstering the demand for the bullion as a store of value. However, a drop in holding in gold backed exchange traded products trimmed gains in the precious metal. Holdings in the SPDR Gold Trust, the leading gold backed exchange traded product shrank for a fourth day to the least since September 2008. Gold futures for December 2014 contract, at MCX, is trading at Rs. 25,955 per 10 grams, up by 0.09 per cent, after opening at Rs. 25,958, against the previous closing price of Rs 25,932. It touched an intra-day high of Rs 26,036. (At 11:29 AM).
Base Metals
D A I L Y B U Z Z
LEAD
Lead prices rose by 0.88 per cent on Monday at the domestic markets 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 1975 metric tonnes to 218575 metric tonnes as on November 5, 2014. At the MCX, Lead futures, for the November 2014 contract, is trading at Rs 125.90 per kg, up by 0.88 per cent, after opening at Rs 124.75, against a previous close of Rs 124.80. It touched an intra-day high of Rs 125.90 till the trading. (At 3.36 PM today).
