DAILY COMMODITY REPORT FOR 31 MARCH 2015

Precious Metals

GOLD

Gold futures closed lower in the domestic market on Friday as investors and speculators exited positions in the precious metal tracking a weak trend in the overseas market as easing geopolitical concerns regarding Yemen curbed the demand for the bullion as an alternative asset. Fed Chair Janet Yellen said that she expects the FOMC to begin monetary tightening this year, with subsequent rate lift-offs to be gradual rather than following a predictable path, dimming the appeal of the bullion as a store of value. However, a weaker dollar boosted the demand for gold as an alternative asset, supporting the yellow metal. Weaker greenback makes gold cheaper for those holding other currencies, thus bolstering demand. Gold may extend a decline today as caution persists ahead of US consumer spending data. At the MCX, Gold futures for April 2015 contract closed at Rs 26,569 per 10 gram, down by 0.87 per cent after opening at Rs 26,675, against the previous closing price of Rs 26,801. It touched the intra-day low of Rs 26,387 till the closing.

Base Metals

ZINC

Zinc prices fell by 0.12 per cent on Monday at the domestic markets after Industrial production in Japan fell more-than-expected last month signaling weak sentiment in the region which reduced the demand outlook for the metal. In a report, the Ministry of Economy, Trade and Industry said that industrial production fell to a seasonally adjusted -3.4 per cent, from 3.7 per cent in the preceding month. Zinc futures for March 2015 contract, at MCX, were trading at Rs 130.05 per kg, down by 0.12 per cent after opening at Rs. 129.90 against the previous closing price of Rs. 130.20. It touched the intra-day low of Rs. 129.40 till the trading. (At 3.35 PM).

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WEEKLY COMMODITY REPORT 30 MARCH 2015

Precious Metals

GOLD

Gold prices fell by 0.38 per cent to Rs 26,948 per 10 grams in futures trade today as speculators locked-in gains amid weak global trends.At the Multi Commodity Exchange, the June contracts of gold fell by Rs 102, or 0.38 per cent, to Rs 26,948 per 10 grams in a business turnover of 115 lots.The April contracts shed Rs 96, or 0.36 per cent, to Rs 26,705 per 10 grams in 436 lots. The April contracts shed Rs 96, or 0.36 per cent, to Rs 26,705 per 10 grams in 436 lots. Analysts attributed the fall in gold futures to profit-booking by speculators at prevailing levels and weak global trends.Meanwhile, gold prices fell by 0.4 per cent to $1,200.10 an ounce in Singapore today.

SILVER

Silver prices fell sharply by Rs 197 to Rs 38,900 per kg in futures trade today due to profit-booking at existing levels and weak trend overseas.At the Multi Commodity Exchange, silver for delivery in July traded lower by Rs 197, or 0.50 per cent, to Rs 38,900 per kg in a business turnover of just three lots.Also, the white metal for delivery in May declined by Rs 171, or 0.44 per cent, to Rs 38,442 per kg in a business volume of 478 lots. In international market, silver prices fell by 0.4 per cent to $17.05 an ounce in Singapore.Market analysts said apart from the profit-booking by participants, a weak trend in global markets led to the fall in silver prices at futures trade here.

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DAILY PRECIOUS METALS REPORT 26 MARCH 2015

Precious Metals

D A I L Y B U Z Z

GOLD

Gold futures were trading lower in the domestic market on Wednesday after better than expected US inflation data upped bets of US monetary tightening, dimming the appeal of the bullion as a store of value. US consumer prices rose for the first time in four months, up 0.2 per cent in February 2015 from the previous month, raising bets that inflation may gradually move towards the Fed’s 2 per cent target, boosting the case for an interest rate hike in the coming months. At the MCX, Gold futures for April 2015 contract is trading at Rs 26,270 per 10 gram, down by 0.31 per cent after opening at Rs 26,280, against the previous closing price of Rs 26,351. It touched the intra-day low of Rs 26,212. (At 12:09 PM).

SILVER

Silver futures fell in the domestic market on Wednesday as investors and speculators exited positions in the precious metal amid caution after US core inflation data for February beat estimates, raising bets of US monetary tightening, dimming the appeal of the bullion as a store of value. Meanwhile, core consumer prices which strip out the effect of food and energy climbed 0.2 per cent in February, topping expectations of a 0.1 per cent rise while overall consumer prices rose for the first time in four months, up 0.2 per cent in February 2015 from the previous month, raising bets that inflation may gradually move towards the Fed’s 2 per cent target, boosting the case for an interest rate hike in the coming months. At the MCX, Silver futures for May 2015 contract is trading at Rs 37,941 per 1 kg, down by 0.13 per cent after opening at Rs 37870, against the previous closing price of Rs 37991. It touched the intra-day low of Rs 37,750 till the closing. (At 15:14 PM).

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REPORT ON MCX GOLD & SILVER FOR 24 MARCH 2015

Precious Metals

D A I L Y B U Z Z

GOLD
Gold prices fell by 0.25 per cent to Rs 26,200 per 10 grams in futures trade today amidst a weak trend overseas and profit-booking by speculators.

At the Multi Commodity Exchange, gold for delivery in June eased by Rs 65, or 0.25 per cent, toRs 26,200 per
10 grams in a business turnover of 24 lots.

Likewise, the metal for delivery in April shed Rs 62, or 0.24 per cent, to Rs 26,120 per 10 gramsin 606 lots.

Globally, gold traded lower at USD 1,182.30 an ounce in Singapore today.

SILVER
Silver prices fellsharply by Rs 318 to Rs 37,471 per kg in futures trade today as speculators reduced their positions amidst a weak global trend.

At the Multi Commodity Exchange, silver for delivery in May moved down by Rs 318, or 0.84per cent, to Rs 37,471 per kg in a business turnover of 1,317 lots.

Also, the white metal for delivery in July fell by Rs 312, or 0.82 per cent, to Rs 37,927 per kg in 76 lots. 

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DAILY COMMODITY REPORT FOR 23 MARCH 2015

Precious Metals

GOLD

Gold futures rose in the domestic and overseas market on Thursday as investors continued to ponder Federal Reserve tea leaves on the prospects of a rate hike by June. Prices rose after somewhat dovish comments from Federal Reserve chair Janet Yellen regarding a potential interest rate hike helped the precious metal rebound from an extended slump. Further, weaker dollar boosted the demand for gold as an alternative asset, trimming losses in the bullion.Weaker greenback makes gold cheaper for those holding other currencies, thus boosting demand. Gold may trade on a higher note today after the US Fed policy meet. At the MCX, Gold futures for April 2015 contract closed at Rs 25,962 per 10 gram, up by 1.28 per cent after opening at Rs 25,740, against the previous closing price of Rs 25,637. It touched the intra-day high of Rs 25,997 till the closing.

Energy

CRUDEOIL

Crude oil prices rose by 0.38 per cent on Friday at the domestic markets as the dollar weakened, but gains were limited by supply concerns after Kuwait said OPEC had no choice but to main tain output levels. A weaker dollar typically supports prices for commodities denominated in the greenback, making them cheaper for holders of other currencies. Gains were also limited after Iraq's southern oil exports have risen in March as poor weather that delayed cargoes in February cleared, putting OPEC's second-largest producer back within sight of record shipments. At the MCX, crude oil futures for February 2015 contract were trading at Rs. 2,873 per barrel, up by 0.38 per cent, after opening at Rs.2,885 against the previous closing price of Rs. 2,862. It touched the intra - day high of Rs. 2,887 till the trading. (At 11.45 AM).

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PRECIOUS METALS & BASE METALS REPORT 20 MARCH 2015

GOLD

Gold futures rose in the domestic and overseas market on Wednesday as the US dollar weakened following comments from Federal Reserve chair Janet Yellen. While Ms. Yellen indicated that its benchmark Federal Funds Rate could be increased later this year, she emphasized that it will not occur until after the Federal Open Market Committee’s next meeting in April, at the earliest. Yellen added that the timing of the decision will be “data dependent,” and that a rate hike will not necessarily be made in June. A weaker dollar boosted the demand for gold as an alternative asset, trimming losses in the bullion. Weaker greenback makes gold cheaper for those holding other currencies, thus boosting demand. Gold may trade on a higher note today after the US Fed policy meet. At the MCX, Gold futures for April 2015 contract closed at Rs 25,637 per 10 gram, up by 0.08 per cent after opening at Rs 25,631, against the previous closing price of Rs 25,617. It touched the intra-day high of Rs 25,697 till the closing.

COPPER

Copper prices rose by 2.40 per cent on Thursday at the domestic markets after the Federal Reserve projected a slower pace of rate hikes. The Fed downgraded its forecasts for growth and inflation and lowered its interest rate projections. The Fed dropped a reference to being "patient" on the timing of rate hikes, but added that the change in its forward guidance did not mean it has decided on the timing for an initial rate increase. At the MCX, copper futures for April 2015 contract were trading at Rs. 366.90 per 1 kg, up by 2.40 per cent, after opening at Rs. 360.20 against the previous closing price of Rs. 358.30. It touched the intra-day high of Rs. 367.70 till the trading. (At 4.05 PM).

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DAILY COMMODITY REPORT FOR 18 MARCH 2015

Precious Metals

D A I L Y B U Z Z

GOLD

Gold futures prices today fell by 0.21 per cent to Rs 25,729 per 10 grams as participants engaged in trimming positions amid weak global cues. Besides, subdued demand at domestic spot markets, too, weighed on the prices. At the Multi Commodity Exchange, gold for delivery in April, fell by Rs 54, or 0.21 per cent, to trade at Rs 25,729 per 10 grams in a turnover of 323 lots. Similarly, the metal for delivery in June shed Rs 55, or 0.20 per cent, to Rs 25,854 per 10 gm in 20 lots. Globally, gold traded lower at USD 1,154.48 an ounce from USD 1,154.81 in Singapore yesterday. Analysts said off-loading of positions by speculators on sluggish spot demand and a weak trend overseas as investors weighed the outlook for higher US interest rates before the Federal Reserve begins a two-day meeting, mainly put pressure on gold prices in futures trade here. 

SILVER

Amid a weakening trend overseas, silver prices fell by Rs 184 to Rs 35,379 per kg in futures trade today as speculators reduced their exposures. At the Multi Commodity Exchange, silver for delivery in May traded lower by Rs 184, or 0.52 per cent, to Rs 35,379 per kg in business turnover of 623 lots. On similar lines, the white metal for delivery in July declined by Rs 183, or 0.51 per cent, to Rs 35,865 per kg in business volume of six lots. In the international market, silver lost 0.5 per cent at USD 15.57 an ounce in Singapore. Market analysts said a weak trend in precious metals in the global markets as investors weighed the outlook for higher US interest rates before the Federal Reserve begins a two-day meeting, kept pressure on silver futures here. 

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DAILY MCX GOLD REPORT FOR 17 MARCH 2015

Precious Metals

D A I L Y B U Z Z

GOLD

Gold futures closed higher in the domestic market on Friday as the sharp depreciation of the Indian rupee against the US dollar exerted upward pressure on prices of the bullion in the domestic market; more than offsetting the flat closing in the overseas market. The yellow metal closed little changed in the overseas market on Friday as investors and speculators shied away from booking fresh positions in the bullion as a stronger dollar curbed the demand for gold as an alternative asset. Stronger greenback makes gold more expensive for those holding other currencies, thus dimming demand. Caution ahead of the US Federal Reserve’s policy meet this week where the Fed may drop the word “patient” over monetary tightening, and probably signal a rate hike towards the middle of the year also curbed the demand for the bullion as a store of value. Meanwhile, US wholesale prices fell for a fourth straight month, down 0.5 per cent in February, dimming the bullion’s appeal as a hedge against inflation. Gold may fall today asinvestors stick to a cautious stance ahead of the FOMC meet this week. At the MCX, Gold futures for April 2015 contract closed at Rs 25,890 per 10 gram, up by 0.92 per cent after opening at Rs 25,720, against the previous closing price of Rs 25,655. It touched the intra-day high of Rs 25,918 till the closing.

Energy

D A I L Y B U Z Z

CRUDEOIL

Crude oil prices fell by 2.55 per cent on Monday at the domestic markets as supply worries weighed on sentiment following the release of a mostly bearish report from the International Energy Agency on global oil supply and demand. The IEA warned that an oil-price recovery remained fragile amid a production rebound in the US In the week ahead, market players will focus on the conclusion of the Federal Reserve's two-day monetary policy meeting on Wednesday, which could provide indications on how soon it might raise interest rates. At the MCX, crude oil futures for March 2015 contract were trading at Rs. 2,793 per barrel, down by 2.55 per cent, after opening at Rs. 2,852 against the previous closing price of Rs. 2,866. It touched the intra-day low of Rs. 2,787 till the trading. (At 11.40 AM).

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DAILY MCX COMMODITY REPORT FOR 16/MARCH/2015

Precious Metals

D A I L Y B U Z Z

GOLD/SILVER

Gold prices rose by Rs 131 to Rs 25,950 per 10 grams in futures trade today as speculators created fresh positions after the precious metal recovered in the global markets. At the Multi Commodity Exchange, gold for delivery in June was up by Rs 131, or 0.51 per cent, to Rs 25,950 per 10 grams in a business turnover of 31 lots. The metal for delivery in April moved up by Rs 114, or 0.44 per cent, to Rs 25,769 per 10 grams in a turnover of 774 lots. Analysts said recovery in the precious metal in global markets mainly helped gold to trade higher at futures trade here. Globally, gold rose as much as 0.7 per cent to USD 1,161.855 an ounce in Singapore. After its three session slide, gold prices recovered slightly at the bullion market here on modest offtake from stockist and investors as well as low level jewellery buying interest on the back of improved international markets. Silver also gained following mild speculative buying. Standard gold (99.5 purity) rose by Rs 95 to end at Rs 25,900 per 10 grams from Thursday's closing level of Rs 25,805. Pure gold (99.9 purity) also went up by a similar margin to conclude at Rs 26,050 per 10 grams from Rs 25,955. Silver (.999 fineness) moved up by Rs 85 per kg to close at Rs 36,205 as compared to Rs 36,120 yesterday. Globally, in Europe gold firmed up after nine straight sessions of losses, as the dollar nursed losses following its biggest one-day fall in a month late yesterday. In London, spot gold edged up 0.3 per cent to $1,156.20 an ounce in early trade. while spot silver were down 0.3 per cent at $15.52 an ounce.

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DAILY COMMODITY REPORT FOR 12 MARCH 2015

Precious Metals

D A I L Y B U Z Z

GOLD

Gold futures closed lower in the domestic market on Tuesday as investor and speculators exited positions in the precious metal tracking a weak trend in the overseas market as the US dollar soared to multi-year highs amid expectations of a sooner than expected rate hike, curbing the demand for the fuel as an alternative asset. Stronger greenback makes oil more expensive for those holding other currencies, thus dimming demand. Prospects of an imminent interest rate lift-off have also dimmed the appeal of the yellow metal as a store of value. Calls for a rate hike have got louder following Friday’s payrolls data which showed a twelfth straight month of job gains topping the 200K level. Gold may extend a decline today as caution persists ahead of key data this week including retail sales, consumer sentiment, industrial production and jobless claims which may signal further momentum in the world’s biggest economy, likely forcing the Fed to bring forward its timeline for an interest rate lift-off. At the MCX, Gold futures for April 2015 contract closed at Rs 25,919 per 10 gram, down by 0.40 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 25,780 till the closing

Base Metals 

D A I L Y B U Z Z

COPPER

Copper prices rose by 0.44 per cent on Wednesday at the domestic markets after data showed that China's factory output grew less than expected in the first two months of the year, adding to pressure on policymakers to introduce broad-based stimulus measures which raised the demand outlook for the metal. At the MCX, copper futures for April 2015 contract were trading at Rs.369.30 per 1 kg, up by 0.44 per cent, after opening at Rs. 369.30 against the previous closing price of Rs. 367.70. It touched the intra-day high of Rs. 370.80 till the trading. (At 3.57 PM).

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DAILY REPORT AND BUDGET SPECIAL ON COMMODITY MARKET

Precious Metals

D A I L Y B U Z Z

GOLD

Gold futures fell in the domestic market on Friday as investors and speculators exited positions in the precious metal as a deepening sell-off in oil threatened to push global inflation even lower, dimming the appeal of the bullion, a hedge against rising consumer prices.However, bets that the US Fed may delay a planned rate hike boosted the appeal of gold as a store of value, curbing losses in gold.A pickup in physical demand for gold from China, the world’s second biggest bullion consumer supported sentiment as China’s net gold imports from Hong Kong rose to 71.6 metric tons in January from 58.8 tons in December.At the MCX, Gold futures for April 2015 contract is trading at Rs 26,178 per 10 gram, down by 0.14 per cent after opening at Rs 26,240, against the previous closing price of Rs 26,216. It touched the intra-day low of Rs 26,151 till the closing. (At 11:48 AM).

Base Metals

D A I L Y B U Z Z

COPPER

Copper futures rose in the domestic market on Friday as a rebound in US durable goods orders last month signaled a pickup in the world’s biggest economy, lifting the demand outlook for the base metal.Bookings for US goods meant to last at least three years rose for the first time in three months, up 2.8 per cent in January from December when they fell a revised 3.7 per cent.Further, speculation that policymakers in China may boost stimulus to stem a slowdown in the world’s biggest copper consumer lifted demand outlook for copper.Chinese Premier Li Keqiang urged the need for a more active fiscal policy, while a central bank publication called for additional monetary easing to boost demand and economic growth.At the MCX, Copper futures for February 2015 contract closed at Rs 369.45 per 1 kg, up by 0.16 per cent after opening at Rs 367, against the previous closing price of Rs 368.85. It touched the intra-day high of Rs 369.95 till the closing. (At 11:53 AM).

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DAILY COMMODITY REPORT FOR 25 FEB 2015

Precious Metals

D A I L Y B U Z Z

GOLD

Gold futures closed lower in the domestic market on Monday as investors and speculators exited positions in the precious metal as a stronger dollar curbed the demand for the bullion as an alternative asset. Stronger bullion makes gold more expensive for those holding other currencies, thus dimming demand. Further, plunging crude oil prices threatened to exert further downward pressure on global inflation, dimming the appeal of gold, a hedge against rising consumer prices. Gold also fell after Greece struck a provisional deal with Euro group finance ministers to receive a four-month extension on its bailout, curbing safe haven demand. Caution ahead of the testimony of Fed Chair Janet Yellen to a US Congressional Committee on Tuesday where she may offer cues over the Fed’s assessment of the world’s biggest economy and the timing of the maiden US interest rate hike since 2006 also weighed on sentiment. Gold may extend a decline today as investors cautiously await the Yellen speech to the Congress. At the MCX, Gold futures for April 2015 contract closed at Rs 26,153 per 10 gram, down by 0.47 per cent after opening at Rs 26,228, against the previous closing price of Rs 26,277. It touched the intra-day low of Rs 25,955 till the closing.

Energy

D A I L Y B U Z Z

NATURAL GAS

Natural Gas futures ended lower in the domestic market on Monday as investors and speculators booked profits in the energy commodity after prices surged in the previous session when forecasts for a polar blast extending into early March bolstered the demand outlook for the heating fuel. Latest weather forecasting models have called for below normal temperatures in the key US Northeast and Midwest regions through March 6, 2015. At the MCX, Natural Gas futures for February 2015 contract closed at Rs 181.60 per 1 kg, down by 1.3 per cent after opening at Rs 186.3, against the previous closing price of Rs 184. It touched the intra-day low of Rs 180.40 till the closing.

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DAILY GOLD SILVER REPORT FOR 19/FEB/2015

Precious Metals

D A I L Y B U Z Z

GOLD/SILVER

Gold prices tumbled by Rs 510, the biggest fall this year, to trade at almost six-week low of Rs 27,190 per 10 grams at bullion market today on slackened demand from jewellers and retailers amid weak global cues. Silver also slumped by Rs 1,700 to Rs 37,200 per kg on poor offtake by industrial users and coin makers. Traders said apart from low demand from jewellers and retailers, a weak global trend where gold dropped to six-week low mainly kept pressure on prices of the precious metals here. Globally, gold in Singapore lost 0.3 per cent to $1,206.48 an ounce before the Federal Reserve releases minutes from its January meeting amid speculation that Greece will ease a standoff with creditors by asking for a loan extension. Besides, shifting of funds towards rising equity markets dampened the sentiment, they added. In the national capital, gold of 99.9 and 99.5 per cent purity plunged by Rs 510 each to Rs 27,190 and Rs 26,990 per 10 grams, a level last seen on January 3. Sovereign followed suit and shed Rs 50 at Rs 23,700 per piece of eight grams. Tracking gold, silver ready dropped by Rs 1,700 to Rs 37,200 per kg and weekly-based delivery by Rs 1,675 to Rs 36,600 per kg. Silver coins plummeted by Rs 2,000 to Rs 60,000 for buying and Rs 61,000 for selling of 100 pieces. 

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REPORT ON COMMODITY MARKET 18/FEB/2015

Precious Metals

D A I L Y B U Z Z

GOLD
Gold futures closed on a bearish note in the domestic market on Tuesday as investors and speculators exited positions in the precious metal amid concerns over waning demand from China, the world’s second biggest gold buyer, during the Lunar New Year holiday.Markets in China will be shut for five sessions starting Wednesday.Record high US equities curbed the demand for Gold as an alternative asset.Philadelphia Federal Reserve President Charles Plosser urged the Fed to ignore the temporary drop in oil prices and low inflation, a sign that monetary tightening in the world’s biggest economy isn’t too far away, dimming the appeal of the bullion as a store of value.All eyes are on Greece with investors hoping for a possible last minute deal between the country’s new anti-austerity government and its international creditors to avoid a funding crunch and stay in the euro. Talks between Greek and Euro area finance officials stalled on Monday after an official from the country’s new anti- austerity government disapproved the Euro area’s proposed bailout extension conditions.Gold may continue the downward journey amid speculation of weak China demand.At the MCX, Gold futures for April 2015 contract closed at Rs 26,219 per 10 gram, down by 1.82 per cent after opening at Rs 26,650, against the previous closing price of Rs 26,704. It touched the intra-day low of Rs 26,182 till the closing.

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COMMODITY MCX GOLD & ZINC REPORT 17 FEB 2015

Precious Metals

D A I L Y B U Z Z

GOLD
Gold futures rose by 0.31 per cent on Monday at the domestic markets as 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. Further, ongoing uncertainty over developments in Greece also boosted the appeal of the precious metal.In the coming week, investors will be focusing on Wednesday’s minutes of the latest Federal Reserve meeting for further indications on when the central bank may start to hike interest rates.At the MCX, Gold futures for February 2015 contract was trading at Rs 26,775 per 10 gram, up by 0.31 per cent after opening at Rs 26,720, against the previous closing price of Rs 26,691. It touched the intra-day high of Rs 26,784 till the trading. (At 11.42 AM).

Base Metals

D A I L Y B U Z Z

ZINC
Zinc prices rose by 0.26 per cent on Monday at the domestic markets due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME zinc stocks fell by 3575 metric tonnes to 591500 metric tonnes as on February 16, 2015. Zinc futures for February 2015 contract, at MCX, were trading at Rs 133.90 per kg, up by 0.26 per cent after opening at Rs. 133.40 against the previous closing price of Rs. 133.55. It touched the intra-day high of Rs. 134.10 till the trading. (At 3.30 PM).

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DAILY MCX COMMODITY GOLD SILVER REPORT FOR 10 FEB 2015

Precious Metals

D A I L Y B U Z Z

GOLD

Gold prices rose Rs 109 to Rs 27,070 per 10 grams in futures trade today as speculators created fresh positions amid positive cues from global markets. 

At the Multi Commodity Exchange ( MCX), gold for delivery in June was up by Rs 109, or 0.40 per cent, to Rs 27,070 per 10 grams in a business turnover of 11 lots. 

On similar lines, gold for delivery in April shot up by Rs 103, or 0.38 per cent, to Rs 26,905 per kg in a turnover of 350 lots. 

SILVER

Silver prices rose by Rs 152 to Rs 37,176 per kg in futures trading today as speculators indulged in creating fresh positions amid a firming trend in precious metals overseas. At the Multi Commodity Exchange, silver for delivery in March traded higher by Rs 152, or 0.41 per cent, at Rs 37,176 per kg in a business turnover of 515 lots. 

Likewise, the white metal for delivery in May traded higher by Rs 112, or 0.30 per cent, to Rs 37,370 per kg in 34 lots. 

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DAILY MCX COMMODITY REEPORT FOR 04 FEB 2015

Precious Metals

D A I L Y B U Z Z 

GOLD

Gold futures prices today fell by 0.20 per cent to Rs 27,610 per 10 grams as speculators offloaded their positions amid a weak global trend. At the Multi Commodity Exchange, gold prices for delivery in far-month April fell by Rs 56, or 0.20 per cent, to Rs 27,610 per 10 grams in business turnover of 99 lots. Similarly, metal prices for delivery this month declined by Rs 40, or 0.14 per cent, to Rs 27,800 per ten grams in nine lots. Market analysts said the fall in gold futures was mostly attributed to trimming of positions by speculators, tracking a weak trend overseas as investors weighed prospects for higher US interest rates amid signs that a global slowdown may be hurting the world's largest economy. Meanwhile, gold traded lower at $1,272.83 an ounce from $1,274.41 in Singapore in yesterday. Silver prices declined by Rs 124 to Rs 38,440 per kg in futures trade today as speculators reduced their exposures amid weak trend in the global markets.At the Multi Commodity Exchange ( MCX), silver prices for delivery in far-month May contracts traded lower by Rs 124, or 0.32 per cent, to Rs 38,440 per kg in business turnover of 9 lots. Similarly, the white metal prices for delivery in March declined by Rs 119, or 0.31 per cent, to Rs 37,886 per kg in business volume of 278 lots.In the international market, silver prices traded 0.29 per cent lower at $17.18 an ounce in New York yesterday. Market analysts attributed fall in silver prices at futures trade to a weak trend in global markets. 

Base Metals 

D A I L Y B U Z Z

COPPER

Copper prices rose by 3.02 per cent on Tuesday at the domestic markets as a rally in oil and global equity markets lifted sentiment. Oil prices rallied as investors closed out bets on lower prices after data showed the number of U.S. oil drilling rigs had fallen by the most in nearly 30 years last week. Further, hopes that Greece’s new government would be able to reach a compromise with its international creditors on the terms of its bailout also helped lift sentiment. At the MCX, copper futures for February 2015 contract were trading at Rs. 351.20 per 1 kg, up by 3.02 per cent, after opening at Rs. 343 against the previous closing price of Rs. 340.90. It touched the intra-day high of Rs. 353.15 till the trading. (At 4.25 PM).

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Today Precious Metals, Base Metals & Energy Update 02 FEB 2015

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.

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TODAY COMMODITY UPDATE FOR 29 JAN 2015

Base Metals & Energy

D A I L Y B U Z Z

CRUDEOIL

Crude oil prices fell by 0.81 per cent on Wednesday at the domestic markets with downbeat US supply data weighing on sentiment. The American Petroleum Institute said late Tuesday that crude oil stocks surged 12.7 million barrels last week, distillate stocks fell 670,000 barrels and gasoline stocks eased 5 million barrels. The market will now look ahead to similar data, but more closely watched, from the U.S. Department of Energy later today. At the MCX, crude oil futures for February 2015 contract were trading at Rs. 2,819 per barrel, down by 0.81 per cent, after opening at Rs. 2,830 against the previous closing price of Rs. 2,842. It touched the intra- day low of Rs. 2,815 till the trading. (At 11.53 AM).

NATURAL GAS

Natural Gas futures surged in the domestic and overseas market on Tuesday as investors and speculators booked fresh positions in the energy commodity as a blizzard in the US which has brought heavy snowfall in the densely populated Northeast region may bolster heating demand for the fuel in the world’s biggest energy consumer. The National Weather Service said that parts of Connecticut, Maine, Massachusetts, New Hampshire, New York and Rhode Island have seen more than a foot of snow as of Tuesday morning. At the MCX, Natural Gas futures for January 2015 contract closed at Rs 183.90 per 1 kg, up by 0.60 per cent after opening at Rs 180.30, against the previous closing price of Rs 182.8. It touched the intra-day high of Rs 185 till the closing.

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DAILY COMMODITY REPORT FOR 23 JAN 2015

Precious Metals

D A I L Y B U Z Z

GOLD/SILVER

Gold futures fell by 0.24 per cent on Thursday at the domestic markets with investors focused on an upcoming European Central Bank meeting expected to further ease policy. Further, a 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 27,911 per 10 gram, down by 0.24 per cent after opening at Rs 27,941, against the previous closing price of Rs 27,977. It touched the intra-day low of Rs 27,886 till the trading. Silver prices spurted by Rs 517 to trade above the Rs 40,000 per kg after a gap of four months in futures trade today as traders created speculative positions, largely driven by a firming trend overseas. At the Multi Commodity Exchange, silver for delivery in far-month May moved up by Rs 517, or 1.29 per cent, to Rs 40,650 per kg in business turnover of 91 lots. On the similar lines, the white metal for delivery in March contracts rose by Rs 490, or 1.24 per cent, to Rs 40,012 per kg in 3,148 lots. Market analysts attributed the rise in silver prices at futures trade to a firming trend in the precious metals overseas before a meeting of European Central Bank policy makers. Globally, silver rose as much as 0.6 per cent to USD 18.11 an ounce in Singapore today, the highest since September. 

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