Precious Metals
D A I L Y B U Z Z
GOLDGold futures rose by 0.31 per cent on Monday at the domestic markets as a weaker dollar raised the appeal of the bullion as an alternative asset. Weaker dollar makes the precious metal cheaper for those holding other currencies, thus increasing demand. Further, ongoing uncertainty over developments in Greece also boosted the appeal of the precious metal.In the coming week, investors will be focusing on Wednesday’s minutes of the latest Federal Reserve meeting for further indications on when the central bank may start to hike interest rates.At the MCX, Gold futures for February 2015 contract was trading at Rs 26,775 per 10 gram, up by 0.31 per cent after opening at Rs 26,720, against the previous closing price of Rs 26,691. It touched the intra-day high of Rs 26,784 till the trading. (At 11.42 AM).
Base Metals
D A I L Y B U Z Z
ZINCZinc prices rose by 0.26 per cent on Monday at the domestic markets due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks fell by 3575 metric tonnes to 591500 metric tonnes as on February 16, 2015. Zinc futures for February 2015 contract, at MCX, were trading at Rs 133.90 per kg, up by 0.26 per cent after opening at Rs. 133.40 against the previous closing price of Rs. 133.55. It touched the intra-day high of Rs. 134.10 till the trading. (At 3.30 PM).
