Gold futures succumbed to modest losses in the domestic market on Tuesday as investors and speculators stuck to a cautious approach as the US Federal Reserve began a two-day monetary policy meet. While the world’s top central bank is expected to stick to record low interest rates, it may offer some cues over the timing for a maiden lift-off since 2006. Being a hedge against the inflationary risk of monetary fillips, Gold tends to benefit from ultra-easy money policies from global central banks. A stronger dollar also curbed the demand for the bullion as an alternative asset. Stronger greenback makes Gold more expensive for those holding other currencies, thus dimming demand. Lingering worries over Greece as the cash strapped nation scrambles to reach a debt compromise with its creditors continued to support Gold’s safe haven appeal, trimming losses in Gold. Bullion may continue to trade on a subdued today as the Fed announces its monetary policy decision. At the MCX, Gold futures for June 2015 contract closed at Rs 26,956 per 10 gram, down by 0.27 after opening at Rs 27,011, against the last closing price of Rs 27,029. It touched the intra-day low of Rs 26,869 till the closing.
Showing posts with label base metel tips. Show all posts
Showing posts with label base metel tips. Show all posts
Wednesday, June 17, 2015
Tuesday, April 8, 2014
DAILY MCX COMMODITY REPORT 08 APRIL 2014
Base Metals & Energy
D A I L Y B U Z Z
LEAD
Lead futures prices today rose by 0.20 per cent, to Rs 123.60 per kg after speculators enlarged positions amid rising spot demand.
However, metal's weakness at the London Metal Exchange (LME) also, limited the gains. At the Multi Commodity Exchange, lead for delivery in April traded 25 paise, or 0.20 per cent, higher at Rs 123.60 per kg, with a turnover of 681 lots.
The metal for delivery in May also rose by 10 paise, or 0.08 per cent, to trade at Rs 124.65 per kg, in a business turnover of 19 lots.
NICKEL
Nickel prices moved up by 0.28 per cent to Rs 986.80 per kg in futures market today as speculators enlarged their positions, tracking a firming trend in spot market on increased demand from alloy-makers even as metal weakened overseas.
At the Multi Commodity Exchange, nickel for delivery in April gained Rs 2.80, or 0.28 per cent, to Rs 986.80 per kg in business turnover of 1,616 lots. Similarly, the metal for delivery in May rose by Rs 2.70, or 0.27 per cent, to Rs 993.30 per kg in 58 lots.
D A I L Y B U Z Z
LEAD
Lead futures prices today rose by 0.20 per cent, to Rs 123.60 per kg after speculators enlarged positions amid rising spot demand.
However, metal's weakness at the London Metal Exchange (LME) also, limited the gains. At the Multi Commodity Exchange, lead for delivery in April traded 25 paise, or 0.20 per cent, higher at Rs 123.60 per kg, with a turnover of 681 lots.
The metal for delivery in May also rose by 10 paise, or 0.08 per cent, to trade at Rs 124.65 per kg, in a business turnover of 19 lots.
NICKEL
Nickel prices moved up by 0.28 per cent to Rs 986.80 per kg in futures market today as speculators enlarged their positions, tracking a firming trend in spot market on increased demand from alloy-makers even as metal weakened overseas.
At the Multi Commodity Exchange, nickel for delivery in April gained Rs 2.80, or 0.28 per cent, to Rs 986.80 per kg in business turnover of 1,616 lots. Similarly, the metal for delivery in May rose by Rs 2.70, or 0.27 per cent, to Rs 993.30 per kg in 58 lots.
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