Tuesday, January 27, 2015

WEEKLY MCX COMMODITY REPORT FOR 27 JAN 2015

Precious Metals
D A I L Y B U Z Z
GOLD/SILVER
Silver prices fell by Rs 139 to Rs 39,940 per kg in futures trade today due to weak global trends. At the Multi Commodity Exchange, the March contract of silver fell by Rs 139, or 0.35 per cent, to Rs 39,740 per kg in business turnover of 8,583 lots. The far-month May contract of the metal declined by Rs 129, or 0.32 per cent, to Rs 40,600 per kg in business volume of 89 lots. Fall in silver prices was mostly in tune with a weak trend in global markets, analysts said. In the international market, silver fell 0.46 per cent to USD 18.22 an ounce in London. At spot markets here, silver was trading at Rs 40,100 per kg, up by Rs 400 over yesterday, on increased offtake by industrial units and coin makers. Gold prices recovered by Rs 150 to trade at Rs 28,500 per ten gram at the bullion market today on emergence of buying by jewellers to meet wedding season demand amid a firming trend overseas. Silver also rebounded by Rs 400 to Rs 40,100 per kg on increased offtake by industrial units and coin makers. Marketmen said apart from buying by jewellers to meet ongoing wedding season demand, a firming global trend after the European Central Bank's announced a bigger-than-expected stimulus measures, boosting demand for the safe-haven, influenced Gold prices here. In the national capital, gold of 99.9 and 99.5 per cent purity were up by Rs 150 each to Rs 28,500 and Rs 28,300 per ten gram respectively. It had lost Rs 150 yesterday. 

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