COMMODITY UPDATE FOR 15/10/2013

Precious Metals

SILVER GOLD

                                                        D A I L Y B U Z Z

Gold futures prices recovered by 0.11 per cent to Rs 28,395 per 10 gram on Monday as speculators enlarged their positions in tune with a better trend overseas.

At the Multi Commodity Exchange, gold for delivery in December up by Rs 30, or 0.11 per cent, to Rs 28,395 per 10 gram, with a business turnover of 345 lots.

In a similar fashion, the metal for delivery in the far-month February next year contracts gained Rs 26, or 0.09 per cent, to Rs 28,150 per 10 gram, with a trade volume of 7 lots.

Silver prices fell 0.31 per cent to trade at Rs 46,745 per kg in futures trade today as speculators reduced positions amid a weakening trend in the global markets.

Besides, a weak trend in the precious metals at the domestic bullion market also weighed on silver futures. At the Multi Commodity Exchange, Silver for delivery in December lost Rs 146, or 0.31 per cent, to Rs 46,745 per kg in business turnover of 457 lots.

In a similar fashion, the white metal for delivery in far-month march, next year contracts traded Rs 95, or 0.20 per cent lower, at Rs 48,049 per kg in ten lots.

Base Metals & Energy

COPPER CRUDE OIL

                                                           D A I L Y B U Z Z

Nickel prices moved down by 0.34 per cent to Rs 856.90 per kg in futures trade today as speculators reduced their position, driven by weak demand from alloy-makers in the spot

market.

Besides, a lower global trend further gloomed the sentiment.

At the Multi Commodity Exchange, nickel for delivery in November declined by Rs 2.90, or 0.34 per cent, to Rs 856.90 per kg in business turnover of 10 lots.

Similarly, the metal for delivery in October shed Rs 2.40, or 0.28 per cent, to Rs 848.50 per kg in 284 lots.

Aluminium futures prices fell by 0.40 per cent to Rs 112.85 per kg today as speculators trimmed positions amid a weak trend in metal at the London Metal Exchange.

At the Multi Commodity Exchange, aluminium for delivery in October lost 45 paise, or 0.40 per cent, to Rs 112.85 per kg, with a business turnover of 104 lots.

The metal for delivery in November also shed 30 paise, or 0.26 per cent, to trade at Rs 114.50 per kg in a turnover of 4 lots.

Agro Outlook

CHANA  DHANIYA

                                                         D A I L Y B U Z Z

Supported by strong demand in the spot market and restricted arrivals from producing regions, cardamom prices rose further by Rs 2.40 to Rs 751 per kg in futures trade today.

At the Multi Commodity Exchange, cardamom for delivery in November added Rs 2.40, or 0.32 per cent, to Rs 751 per kg in business turnover of 388 lots.

Similarly, the spice for delivery in October edged up 60 paise, or 0.08 per cent, to Rs 706.50 per kg in 546 lots.

Mentha oil prices moved up by 0.18 per cent to Rs 870.80 per kg in futures trade today as speculators created fresh positions amid rising demand from consuming industries in the spot market.

Besides, tight supplies in the physical market following less arrivals from Chandausi in Uttar Pradesh also supported the uptrend.

At the Multi Commodity Exchange, mentha oil for delivery in October month rose by 1.60, or 0.18 per cent, to Rs 870.80 per kg in business turnover of 206 lots.

Likewise, the oil for delivery in November edged up by Rs 1.30, or 0.15 per cent, to Rs 884.50 per kg in 6 lots.

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RESEARCH VIA DAILY PRECIOUS METALS, BASE METALS ENERGY & AGRO OUTLOOK 24/09/2013

SILVER GOLD
DAILY BUZZ

The prices of both precious metals, gold and silver, fell further in the national capital today onsustained selling by stockists on the back of sluggish demand amid a weak global trend.
While gold plunged by Rs 280 to Rs 30,500 per ten gram in continuation with a loss of Rs 30 yesterday, silver dropped by Rs 1,600 to Rs 49,500 per kg after easing Rs 100 in the previous session on poor offtake by jewellers and industrial units.
Gold in overseas markets, which normally set price trend on the domestic front, fell by 2.7 per cent to USD 1,332.50 an ounce, the biggest drop since July 5. Silver fell 5.9 per cent to USD 21.92 an ounce, the biggest drop since June 20.
On the domestic front, gold of 99.9 and 99.5 per cent purity plunged by Rs 280 each to Rs 30,500 and Rs 30,300 per ten gram, respectively. It had shed Rs 30 yesterday.
Sovereign followed suit and declined by Rs 100 to 25,100 per piece of eight gram. Silver ready and weekly-based delivery tumbled by Rs 1,600 each to Rs 49,500 per kg, respectively. The white metal had lost Rs 100 in last trade.Silver coins also dropped by Rs 1000 to Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.

D A I LY B U Z Z
COPPER CRUDE OIL

Nickel prices moved down by 0.85 per cent to Rs 868.20 per kg in futures trade today due to sluggish demand from alloy-makers in the spot market amid a weak global trend.

At the Multi Commodity Exchange, nickel for delivery in September declined by Rs 7.40, or 0.85 per cent to Rs 868.20 per kg in a turnover of 1,228 lots.

Similarly, the metal for delivery in October traded lower by Rs 6.80, or 0.77 per cent to Rs 878.20 per kg in 143 lots.

Globally, nickel slid 1.30 per cent to USD 13,885.00 a tonne on the London Metal Exchange (LME).

Crude oil futures price today fell 0.42 per cent to Rs 6,609 per barrel, as speculators t rimmed positions amid a mixed trend in Asian trade.

At the Multi Commodity Exchange, crude oil for delivery in October fell by Rs 28, or 0.42 per cent, to Rs 6,609 per barrel in 3,708 lots.

In a likewise manner, oil for November moved down by Rs 20, or 0.30 per cent, to Rs 6,604 per barrel in 278 lots.

Meanwhile, West Texas Intermediate (WTI) crude for November delivery was down 4 cents to USD 104.71 a barrel on the New York Mercantile Exchange in mid-morning trade today.

DAILY BUZZ
CHANA  DHANIYA
Chana prices moved down by 0.54 per cent to Rs 3,141 per quintal in futures market today as
speculators reduced holdings amid sluggish demand in the spot market against adequate
supplies.
At the National Commodity and Derivatives Exchange, chana for delivery in October fell by Rs
17, or 0.54 per cent to Rs 3,141 per quintal with an open interest of 1,58,340 lots.
Likewise, the commodity for delivery in September declined by Rs 12 or 0.39 per cent to Rs
3,056 per quintal in 2,970 lots.
Amid rising demand and restricted arrivals from producing regions, Cardamom prices rose for
the second day by adding 0.30 per cent to Rs 813.40 per kg in futures trade today as speculators
enlarged their positions.
At the Multi Commodity Exchange, cardamom for deliv ery in November gained Rs 2.40, or 0.30per cent to Rs 813.40 per kg in business turnover of 4 lots.
Similarly, the spice for delivery in October edged up by 40 paise, or 0.05 per cent to Rs 775.30
per kg in 238 lots

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RESEARCH VIA DAILY COMMODITY REPORT FOR 03/09/2013

Precious Metals

SILVER  GOLD

                                                                  D A I L Y 

B U Z Z

Amid volatility in gold prices, the commodity market regulator Forward Markets Commission (FMC) has raised the initial margin on gold futures to 5 per cent of the value of contract from 4 per cent, on all the exchanges in the country.The increased rate of margin will be effective from September 2.

"... the Exchanges are directed to impose initial margin on gold contracts (all gold contracts) at the rate of 5 per cent of the value of the contract," FMC said in a directive.

In view of the current price volatility, the Commission has also decided to impose additional margin of 5 per cent on all the Gold, Silver, Brent Crude Oil, Crude Oil and Natural Gas contracts traded on the National Exchanges till further orders.

However, gold prices fell by 0.57 per cent, to Rs 33,438 per 10 grams in futures market in early

trade today as speculators indulged in trimming positions.

At the Multi Commodity Exchange, gold for delivery in far-month December declined by Rs 193, or 0.57 per cent, to Rs 33,438 per 10 grams in business turnover of 12 lots. Similarly, the yellow metal for delivery in October lost Rs 174, or 0.52 per cent, to Rs 33,476 per 10 grams in 305 lots.

Base Metals & Energy

COPPER    

CRUDE OIL

                                                            D A I L Y B U Z Z

Amid a weak trend overseas and profit-booking by speculators after recent gains, copper prices fell by 0.32 per cent to Rs 485.35 per kg in futures trade today.

At the Multi Commodity Exchange, copper for delivery in August month fell by Rs 1.55, or 0.32 per cent, to Rs 485.35 per kg in business turnover of 1,326 lots.

Similarly, the metal for delivery in November traded lower by 85 paise, or 0.17 per cent to Rs 495.75 per kg in 1,424 lots.

Agro Outlook

CHANA    

DHANIYA

                                                         D A I L Y B U Z Z

Turmeric prices fell further by 0.75 per cent to Rs 5,024 per quintal in futures trade today afterparticipants trimmed positions amid higher stocks but export demand limited the fall.

At the National Commodity and Derivatives Exchange, turmeric for delivery in September declined by Rs 38, or 0.75 per cent, to Rs 5,024 per quintal in an open interest of 15,405 lots.

Similarly, the spice for delivery in October edged lower by Rs 34, or 0.66 per cent, to Rs 5,112 per

quintal in 10,780 lots.

Jeera prices fell by another 0.16 per cent to Rs 13,747.50 per quintal in futures mar ket today as

speculators indulged in reducing exposures amid expectations of higher sowing in producing region.

However, some export demand limited the downside. At the National Commodity and Derivatives Exchange, jeera for delivery in October fell Rs 22.50, or 0.16 per cent to Rs 13,747.50 per quintal with an open interest of 5,394 lots.

In a similar fashion, the spice for delivery in September lost Rs 20, or 0.15 per cent, to Rs 13,595 per quintal with an open interest of 8,667 lots. It had lost 0.05 per cent in yesterday's session.

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RESEARCH VIA DAILY COMMODITY REPORT FOR 27/AUG/2013

Precious Metals
S I L V E R   GOLD
                                                                D A I L Y B U Z Z
Amid a firming trend in the global market, gold prices rose 0.20 per cent to Rs 31,820 per 10 
gram in futures trade today as speculators created fresh positions.

Besides, a firming trend at the domestic spot markets on the back of stockists buying ahead of 
festive season, also supported the rise in gold futures prices here.

At the Multi Commodity Exchange, metal for delivery in October gained Rs 66, or 0.20 per cent, to trade at Rs 31,820 per 10 gm in a turnover of 655 lots.

On similar lines, the metal for delivery in far-month December gained Rs 65, or 0.21 per cent, 
to Rs 31,756 per 10 gram in a business volume of 41 lots.

Silver prices jumped Rs 379, or 0.71 per cent, to Rs 53,850 per kg in futures trading today as speculators created positions largely in tandem with a firming overseas trend.

At the Multi Commodity Exchange, silver for delivery in September traded Rs 379, or 0.71 per cent higher at Rs 53,850 per kg in business turnover of 1,195 lots. 

Likewise, the white metal for delivery in December traded higher by Rs 389, or 0.71 per cent, to Rs 54,850 per kg in 105 lots.

Base Metals & Energy
C O P P E R      C R U D E O I L
                                                               D A I L Y B U Z Z
Nickel prices moved up by 0.98 per cent to Rs 937.60 per kg in futures market today as 
speculators enlarged their positions, tracking a firming trend in Asian trade. 

Besides, an encouraging trend in the domestic spot markets on the back of strong demand from alloy-makers supported the upside.

At the Multi Commodity Exchange, nickel for delivery in August gained Rs 9.10, or 0.98 per 
cent, to Rs 937.60 per kg in business turnover of 639 lots.

Similarly, the metal for delivery in September rose by Rs 9, or 0.96 per cent, to Rs 945.20 per 
kg in 97 lots.

Lead futures prices today rose by 0.60 per cent to Rs 143.15 per kg as speculators created 
positions amid a firming trend in Asian trade on speculation that the US Federal Reserve may 
hold off on curbing stimulus measures in September and rising demand at domestic spot 
markets. 

At the Multi Commodity Exchange, lead for delivery in August traded 85 paise, or 0.60 per cent, higher at Rs 143.15 per kg, with a turnover of 498 lots.

The metal for delivery in September also rose by 75 paise, or 0.53 per cent, to trade at Rs 143.20 per kg, in a business turnover of 69 lots.

Agro Outlook
CHANA     DHANIYA
                                                          D A I L Y B U Z Z
Supported by a pick up in industrial demand in the spot market and restricted supplies from 
producing regions, mentha oil prices gained 0.85 per cent to Rs 879.50 per kg in futures trade 
today.

At the Multi Commodity Exchange, mentha oil for delivery in August moved up by Rs 7.40, or 
0.85 per cent to Rs 879.50 per kg in business turnover of 364 lots.

Similarly, the oil for delivery in September gained Rs 5.70, or 0.65 per cent to Rs 895.60 per kg in 358 lots.

Turmeric prices rose by Rs 76 to Rs 5,240 per quintal in futures market today as speculators created enlarged positions, driven by a rise in demand in the spot market against tight supplies from producing region.

At the National Commodity and Derivatives Exchange, turmeric for delivery in October rose by Rs 76, or 1.47 per cent to Rs 5,240 per quintal in an open interest of 8,900 lots.

Similarly, the spice for delivery in September rose by Rs 60, or 1.18 per cent to Rs 5,154 per quintal in 17,060 lots.

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REVIA MCX: SELL GOLD BELOW 30270 TGTS 30200/30050/29800 SL 30350

Precious Metals
S I L V E R           G O L D
                                                            D A I L Y B U Z Z
Gold futures prices today fell marginally by 0.10 per cent to Rs 28,795 per 10 grams as
speculators offloaded their positions, taking weak cues from the Asian region. Besides, profitbooking by speculators also put pressure on gold futures.

At the Multi Commodity Exchange, gold prices for delivery in December fell by Rs 35, or 0.10 
per cent, to Rs 28,795 per 10 grams in business turnover of 52 lots. 

Similarly, metal prices for delivery in October declined by Rs 37, or 0.09 per cent, to Rs 28,845 
per 10 grams in 1,372 lots.

Taking weak cues from the global market and profit-booking by speculators, silver futures 
prices today fell by 0.24 per cent to Rs 46,156 per kg. 

At the Multi Commodity Exchange, silver prices for delivery in September fell by Rs 112, or 0.24 per cent, to Rs 46,156 per kg in business turnover of 1,551 lots.

Similarly, the white metal prices for delivery in December shed Rs 100, or 0.21 per cent, at Rs 
47,402 per kg in 75 lots. Meanwhile, silver shed 0.23 per cent to $21.41 an ounce in 
Singapore today.

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Agro Outlook
CHANA     DHANIYA
                                                             D A I L Y B U Z Z
Cardamom prices fell by 3.99 per cent to Rs 745.50 per kg in futures trade today as speculators booked profits at prevailing levels amid subdued demand in the spot market. Adequate stocks in the physical market also put pressure on the cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in September declined by Rs 31, or 
3.99 per cent, to Rs 745.50 per kg in business turnover of 3,226 lots.

Likewise, the spice for delivery in the October contract shed Rs 13.90, or 1.73 per cent, to Rs 
775.40 per kg with trading volume of 816 lots.

Market analysts said profit-booking by speculators at prevailing higher levels and subdued 
demand in the spot market against adequate stocks position mainly kept pressure on the 
cardamom prices at futures trade.

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Commodity Update For 19/july/2013

Precious Metals

                                                         D A I L Y B U Z Z

Taking positive cues from the global markets, silver traded higher by 0.62 per cent to Rs 41,180 per kg in futures market today as speculators enlarged their positions.

At the Multi Commodity Exchange, silver for delivery in December rose by Rs 255, or 0.62 per 

cent, to Rs 41,180 per kg in business turnover of 365 lots.

Likewise, the white metal for delivery in September gained Rs 181, or 0.45 per cent, to Rs 

40,335 per kg in 8,624 lots.

Base Metals & Energy

                                                          D A I L Y B U Z Z

Nickel prices moved up by 3,60, or 0.35 per cent to Rs 830.90 per kg in futures market on 

Thursday as speculators enlarged positions, tracking a firming trend in spot market on good 

demand from alloy-makers but weak overseas cues, limtied the gains.

At the Multi Commodity Exchange, nickel for delivery in August gained Rs 3.60, or 0.35 per 

cent, to Rs 830.90 per kg in business turnover of 130 lots.

In a similar fashion, the metal for delivery in September rose marginally by 70 paise, or 0.07 

per cent, to Rs 840.50 per kg in 3 lots.

In the international market, nckel dropped 0.6 per cent to $ 13,893 a tonne at the London 

Metal Exchange.

Agro Outlook

                                                       D A I L Y B U Z Z

Cardamom prices declined by 1.32 per cent to Rs 758 per kg in futures trade today as speculators trimmed their positions amid adequate stocks.

At the Multi Commodity Exchange, cardamom prices for delivery in August declined by Rs 

10.20, or 1.32 per cent, to Rs 758 per kg, with a business turnover of 1,100 lots.

Likewise, the spice prices for delivery in September declined by Rs 8, or 1 per cent, to Rs 788.20 per kg, with a trading volume of 108 lots.

Market analysts said besides profit-booking, subdued demand in the spot markets against 

adequate stocks position also kept pressure on cardamom prices at futures trade.

Potato futures prices today fell by 2.25 per cent to Rs 646.30 per quintal on profit booking by 

traders due to lower domestic demand.

Besides, increased supplies in the physical market from producing regions too dampened 

sentiments.At the Multi Commodity Exchange, potato prices for September delivery fell by Rs 

14.90, or 2.25 per cent, to Rs 646.30 per quintal, with a business volume of 64 lots.

The commodity for delivery in August slipped by Rs 13.80, or 1.93 per cent, to Rs 700 per 

quintal, with a trading volume of 93 lots.

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Commodity Market Update For 30/may/2013

Gold News

Gold rebounded smartly at the domestic market today on emergence of fresh demand from stockiest and traders as well as good retail buying.

Silver also gained owing to renewed industrial demand. Brisk low-level buying, ongoing wedding season off take and sliding rupee valuations too supported the price trend in the yellow metal. Rupee today hit nearly 10-month low of 56.17 against the greenback. 

Standard gold of 99.5 per cent purity rose by Rs 240 to conclude at Rs 26,630 per 10 gm from Tuesday's closing level of Rs 26,390. 

Pure gold of 99.9 per cent purity shot up by Rs 245 to end at Rs 26,775 per 10 gm from Rs 26,530. 

Silver ready (.999 fineness) firmed up by Rs 230 to conclude at Rs 44,660 per kg as against Rs 44,430 yesterday. 

In overseas trade, the yellow metal traded higher on strong Asian demand despite improving US macroeconomic data amid stimulus uncertainty in the world's largest economy. 

Spot gold rose to USD 1,391 an ounce in European trade, while spot silver was up at USD 22.38 an ounce.

Base metals News

Led by nickel, select copper, brass and aluminum utensils prices recovered at the non-ferrous metal market here today on stockiest buying amidst better demand from industrial users. 

Meanwhile, tin declined on subdued demand from alloy industries. 

In the global, the London Metal Exchange (LME) market was closed for a holiday. 

Nickel shot-up by Rs 10 per kg to Rs 990 from last Saturday's closing level of Rs 980. 

Copper sheet cutting and aluminum utensils scrap climbed by Rs 3 per kg each to Rs 459 and Rs 117 from Rs 456 and Rs 114. 

Brass sheet cutting moved up by Rs 2 per kg to Rs 333 from Rs 331. 

Copper cable scrap, copper armiture, copper wire bar and brass utensils scrap all inched up by a rupee per kg to Rs 482, Rs 463, Rs 510 and Rs 323, respectively.

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MCX Copper Tips and Trend For Today

Copper Updates:

Today London Metal Exchange is closed due to diamond jubilee celebrations while at Comex electronic platform Copper is trading down by 1.2 percent. The Asian equities are also down by more than a percent owing to weak services PMI numbers from China and lower demand for vehicles and durables around the globe. Base metals at Shanghai are also trading down owing to weak domestic demand and deteriorating western development. In today’s session, metals may remain subdued, as the largest metals market would remain closed.

The red metal’s inventories on the LME warehouses increased around 4.4 percent to 230,875 tonnes on 1st June 2012 from the previous level of 223,500 tonnes on 25th May 2012. Weekly copper inventories at warehouses monitored by the Shanghai Futures Exchange decreased sharply by 6.6 percent to 147,044 tonnes last week.

The base metals pack is expected to trade on a range bound note today as the LME is closed today and tomorrow on account of Spring & Diamond Jubilee holiday. In the domestic markets, sharp downfall in prices will cushioned on account of depreciation in Indian Rupee.

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MCX Copper Updates (Tips and Trend) For Today

Copper News

Copper, was the worst performing commodity in the base metals pack yesterday as it declined around 1 percent on the LME. The metal came under pressure on the back of slow GDP growth in the US. Additionally, LME copper inventories rose by 1.6 percent and stood at 230,675 tonnes. A stronger dollar index too exerted downside pressure on the red metal. Copper traders are the most bearish since September and hedge funds are betting on price declines as concern that Europe’s debt crisis is deepening drove the metal to the lowest this year. The metal slid the most since September in May as concern about Greece’s future in the euro and spreading of the region’s crisis grew.

MCX Copper Trend

From an intra-day perspective we expect base metals to trade with a negative bias today on the back of rise in risk aversion in the global markets. Additionally, latest data from China showed a fall in the manufacturing PMI, indicating a slowdown in the Chinese economy which is the major consumer of base metals. This news will act as a bearish factor for base metals today.

Technically chart of Copper suggest that prices have breached the bottom to bottom rising trend line. RSI is in a sell mode. We expect prices to correct up to levels of 413.

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