Precious Metals
D A I L Y B U Z Z
GOLD
Gold futures fell by 0.48 per cent on Tuesday at the domestic markets from China showed a
sharper than expected drop in producer prices, though consumer prices were stronger than
expected. Producer prices year-on-year for February fell 4.8 per cent, more than the 4.3 per
cent decline expected. But consumer prices year-on-year for the same month rose 1.4 per cent,
faster than the 0.9 per cent gain expected. 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. At the MCX, Gold futures for February 2015
contract was trading at Rs 25,899 per 10 gram, down by 0.48 per cent after opening at Rs
25,962, against the previous closing price of Rs 26,024. It touched the intra-day low of Rs
25,880 till the trading. (At 11.40 AM).
Base Metals
D A I L Y B U Z Z
COPPER
Copper prices fell by 0.87 per cent on Tuesday at the domestic markets as investors digested the
recent key economic data from China and the U.S. to gauge the strength of demand for the
metal. Copper is sensitive to the economic growth outlook because of its widespread uses across
industries. China and the U.S. are the two biggest consumers of the industrial metal. At the
MCX, copper futures for April 2015 contract were trading at Rs.370.80 per 1 kg, down by 0.87
per cent, after opening at Rs. 372.80 against the previous closing price of Rs. 374.05. It touched
the intra-day low of Rs. 370.65 till the trading. (At 11.40 AM).
