Precious Metals
D A I L Y B U Z Z
GOLD
Gold futures fell in the domestic market on Monday as a stronger rupee against the US dollar more than offset the gains seen in the precious metal in the overseas market. An appreciation in the Indian currency exerts downward pressure on domestic bullion prices. A weaker dollar boosted the demand for Gold as an alternative asset, pushing Gold futures higher in the overseas market. Meanwhile, signs of a pickup in physical demand for Gold also boosted sentiment as Swiss gold imports climbed to the highest level in a year. At the MCX, Gold futures for February 2015 contract is trading at Rs 26,935 per 10 gram, down by 0.23 per cent after opening at Rs 26,965, against the previous closing price of Rs 26,998. It touched the intra-day low of Rs 26,935 till the closing. (At 10:35 AM).
Energy
D A I L Y B U Z Z
NATURAL GAS
Natural Gas futures ended lower in the domestic market on Friday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market as forecasts for warmer-than-average temperatures across the US in the coming days threaten to curb heating demand for the fuel in the world’s biggest fuel consumer. According to WSI Corp, temperatures will be mostly above average in eastern US from December 24 through December 27, 2014. About 49 per cent of US households use natural gas for heating purposes. At the MCX, Natural Gas futures for December 2014 contract closed at Rs 221.40 per 1 kg, down by 4 per cent after opening at Rs 230.30, against the previous closing price of Rs 230.60. It touched the intra-day low of Rs 219.7 till the closing.
