Precious Metals
D A I L Y B U Z Z
GOLD
Gold prices rose by 0.27 per cent on Wednesday at the domestic markets as investors focused on Chinese New Year demand and continued a buying trend seen overnight in the U.S.Further, traders looked ahead to the release of key U.S. data later in the week for further indications on the strength of the economy and the future path of monetary policy.However, a strong 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. 27,573 per 10 grams, up by 0.27 per cent after opening at Rs. 27,560 against the previous closing price of Rs. 27,498. It touched the intra-day high of Rs. 27,610 till the trading. (At 11.50 AM).
Base Metals
D A I L Y B U Z Z
LEAD
Lead prices fell by 0.48 per cent on Wednesday at the domestic markets as a result of low demand for the commodity from battery-maker in the spot market in the midst of weak overseas trend. At the MCX, Lead futures, for the February 2015 contract, is trading at Rs 113.85 per kg, down by 0.48 per cent, after opening at Rs 114.30, against a previous close of Rs 114.40. It touched an intra-day low of Rs 113.65 till the trading. (At 3.15 PM).
