Wednesday, April 1, 2015


Precious Metals
Gold futures fell in the domestic market on Tuesday as investors and speculators exited positions in the precious metal tracking a bearish trend in the overseas market as a stronger dollar curbed the demand for the bullion as an alternative asset. Stronger greenback makes gold more expensive for those holding other currencies, thus dimming demand.Investors are bracing for a maiden US interest rate hike since 2006 as Fed Chair Janet Yellen last week saw monetary tightening beginning later this year, dimming the appeal of gold as a store of value.At the MCX, Gold futures for April 2015 contract is trading at Rs 26,186 per 10 gram, down by 0.32 per cent after opening at Rs 26,208, against the previous closing price of Rs 26,270. It touched the intra-day low of Rs 26,160. (At 12:27 PM).

Natural Gas futures closed little changed in the domestic market on Monday as investors and speculators stayed cautious over booking fresh positions in the energy commodity amid speculation that the onset of spring weather in the US may bring warmer temperatures to the world’s biggest economy, curbing demand for the heating fuel. Latest weather forecasting models called for near-normal temperatures across the 48 US states over the next two weeks. At the MCX, Natural Gas futures for April 2015 contract closed at Rs 166.7 per 1 kg, up by 0.06 per cent after opening at Rs 167.50, against the previous closing price of Rs 166.6. It touched the intra-day high of Rs 168.5 till the closing.

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