Precious Metals
D A I L Y B U Z Z
GOLD
Gold futures fell by 0.26 per cent on Friday at the domestic markets as a stronger dollar reduced the appeal of the bullion as an alternative asset. Stronger dollar makes the precious metal expensive for those holding other currencies, thus reducing demand. At the MCX, Gold futures for February 2015 contract was trading at Rs 27,964 per 10 gram, down by 0.26 per cent after opening at Rs 28,010, against the previous closing price of Rs 28,036. It touched the intra- day low of Rs 27,947 till the trading. MCX Gold February contract was trading at Rs 27991 down Rs 45, or 0.16 percent. The GOLD rate touched an intraday high of Rs 28054 and an intraday low of Rs 27931. So far 5556 contracts have been traded. Gold prices have moved down Rs 248, or 0.88 percent in the February series so far.
Base Metals
D A I L Y B U Z Z
COPPER
Copper prices fell by 1.07 per cent on Friday at the domestic markets after the HSBC China flash January PMI showed the manufacturing sector still in contraction though there was a slight trend improvement over last month's final. The HSBC January initial estimate came in at 49.8, compared to December's final of 49.6, but the January flash output index ticked up to 50.1 from 49.9 in December, placing it just in expansion territory above 50. At the MCX, copper futures for February 2015 contract were trading at Rs.347.20 per 1 kg, down by 1.07 per cent, after opening at Rs. 349.50 against the previous closing price of Rs. 350.95. It touched the intra-day low of Rs. 346.40 till the trading. (At 11.45 AM).
Agro Outlook
D A I L Y B U Z Z
DHANIYA
Coriander prices rose by 4.16 per cent on Friday 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 April 2015 contract was trading at Rs. 8,035 per quintal, up by 4.16 per cent after opening at Rs. 7,908 against the previous closing price of Rs. 7,714. It touched the intra-day high of Rs. 8,176 till the trading. (At 11.30 AM today).
