Precious Metals
D A I L Y B U Z Z
GOLD
Gold prices rose by 0.11 per cent on Friday at the domestic markets on physical demand prospects ahead of the Chinese New Year holidays in February with the dollar also slightly weaker. 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. Gold futures for February 2015 contract, at MCX, were trading at Rs. 27,450 per 10 grams, up by 0.11 per cent after opening at Rs. 27,452 against the previous closing price of Rs. 27,419. It touched the intra-day low of Rs. 27,495 till the trading. (At 11.54 AM).
Base Metals & Energy
D A I L Y B U Z Z
CRUDEOIL
Crude oil prices rose by 0.82 per cent on Friday at the domestic markets as investors kept aneye on demand cues from countries like India and China to see if falling prices spur consumers.Further, the number of people who filed for unemployment assistance in the U.S. last week fellto the lowest level since 2000, fuelling optimism over the strength of the labor market whichraised the demand outlook for the fuel. The U.S. Department of Labor said the number ofindividuals filing for initial jobless benefits in the week ending January 24 decreased by 43,000to a seasonally adjusted 265,000 from the previous week’s total of 308,000. At the MCX, crudeoil futures for February 2015 contract were trading at Rs. 2,771 per barrel, up by 0.62 per cent,after opening at Rs. 2,771 against the previous closing price of Rs. 2,754. It touched the intra-day high of Rs. 2,784 till the trading. (At 11.53 AM).
ZINC
Zinc futures traded a shade lower at Rs 129.10 per kg today on offloading of positions by speculators amid weak cues from overseas market and subdued spot demand at domestic markets. At the Multi Commodity Exchange, zinc for delivery in February traded lower by 55 paise, or 0.42 per cent, to Rs 129.10 per kg in a business turnover of 202 lots. In a similar fashion, the metal for delivery in January shed 35 paise, or 0.27 per cent, to Rs 128.80 per kg in 212 lots.
