Precious Metals
D A I L Y B U Z Z
GOLD
Gold prices fell by 0.32 per cent on Wednesday at the domestic markets as investors continued to eye Greece in the euro zone and await upcoming Federal Reserve minutes for hints on the timing of an interest rate hike widely expected this year.Further, 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.Gold futures for February 2015 contract, at MCX, were trading at Rs. 27,306 per 10 grams, down by 0.32 per cent after opening at Rs. 27,348 against the previous closing price of Rs. 27,394. It touched the intra-day low of Rs. 27,228 till the trading. (At 12.13 PM).
Base Metals
D A I L Y B U Z Z
COPPER
Copper prices fell by 0.57 per cent on Wednesday at the domestic markets after the recent US data which showed that growth in the U.S. services sector braked in December and new orders for manufactured goods fell for a fourth straight month in November, signs the economy lost some momentum in the fourth quarter which reduced the demand outlook for the metal.At the MCX, copper futures for February 2015 contract were trading at Rs.389.40 per 1 kg, down by 0.57 per cent, after opening at Rs. 391.70 against the previous closing price of Rs. 391.65. It touched the intra-day low of Rs. 388.75 till the trading. (At 4.20 PM).
