India to Soon Become Urea Surplus State

 

Urea Fertilizer - The Indian Government has said that India will soon become a urea surplus state from a deficit state and start exporting it. Commenting on the issue, Union Fertilizer Minister Ananth Kumar, “The country will produce 20 lakh tonnes additional urea this year after a number of pro-active steps, including revival of defunct fertilizer plants, taken by the Government.” "We will soon become a urea surplus country from a urea deficit country as we are going to produce 20 lakh tonnes additional urea this year. We will start exporting urea soon," he added. The Minister also added that there was no crisis of fertilizer anywhere in the country and all states and union territories were satisfied with its availability. Further, to ensure adequate availability of fertilizers, the Government has taken a number of steps that include assessment of month-wise demand, regular monitoring of movement of all major subsidised fertilizers throughout the country by a web-based monitoring system besides other

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Crude Oil Futures Closed Bigger in the Domestic Market

Crude oil futures closed bigger in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity as a second straight drop in US crude oil supplies eased fears over a US supply glut. US crude oil stockpiles fell by 2.19 million barrels to 484.8 million barrels in the week ended May 8, 2015, the EIA reported. Meanwhile, gasoline supplies fell 1.1 million barrels, while distillate stockpiles slided by 2.5 million barrels. The International Energy Agency (IEA) raised its forecast for global oil consumption in 2015 by 50,000 barrels/day with world crude desired set to increase by 1.1 million barrels a day this year, or 1.2 %, to average 93.6 million barrels. The agency upgraded its forecast for Non OPEC output growth by 200,000 barrels per day this year amid “surprisingly strong” production in Q1 from the likes of Russia, China, Colombia, Vietnam and Malaysia. US retail sales were little changed in April, compared to expectations of a 0.2 per cent rise, signaling weakness in the world’s largest economy, clouding the demand outlook for the fuel, curbing gains in oil futures. Oil may fall today as IEA’s warning over escalating OPEC supplies and higher production from Non OPEC countries such as Russia may keep oil bulls quiet. 

At the MCX, Crude oil futures, for the May 2015 contract, closed at Rs 3,909 per barrel, up by 0.57 per cent, after opening at Rs 3,900, against the last close price of Rs 3,887. It touched an intraday high of Rs 3,965 till the closing. 

Jeera prices closed lower by 0.8 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At NCDEX, jeera futures for May 2015 contract closed at Rs. 17,450 per quintal, down by 0.8 per cent, after opening at Rs. 17,585 against the previous closing price of Rs. 17,590. It touched the intra-day low of Rs. 17,345.

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REVIA MCX COMMODITY UPDATE FOR 31 DEC 2013

Agro Outlook
CHANA  DHANIYA
                                                          D A I L Y B U Z Z

Crude palm oil prices traded a shade higher at Rs 548.10 per 10 kg in futures market today as speculators indulged in creating fresh positions after pick up in demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in January moved up by 90 paise, or 0.16 per cent, to Rs 548.10 per 10 kg in business turnover of 81 lots.

Similarly, the oil for delivery in December edged up by 40 paise, or 0.07 per cent, to Rs 541.30 per 10 kg in 61 lots.

Sugar futures traded a shade higher at Rs 2,808 per quintal speculators created fresh positions, triggered by a pick up in demand in spot markets.

However, ample supplies from mills in the physical market restricted the gains.

At the National Commodity and Derivatives Exchange, sugar for delivery in January rose by Rs 5, or 0.18 per cent, to Rs 2,808 per quintal with an open interest of 24,360 lots.

Similarly, the sweetner for delivery in February traded higher by Rs 4, or 0.14 per cent, to Rs 2,793 per quintal in 17,100 lots.

Precious Metals

SILVER  GOLD

                                                       D A I L Y B U Z Z

Gold prices moved down by 0.19 per cent to Rs 28,509 per 10 gram in futures trade today as participants offloaded positions partially, taking weak cues from the global market.

At the Multi Commodity Exchange, gold for delivery in February contracts declined by Rs 55, or 0.19 per cent, to Rs 28,509 per 10 gram in business turnover of 341 lots.

Likewise, the metal for delivery in April shed Rs 44, or 0.16 per cent, to Rs 27,898 per 10 gram in 23 lots.

Market analysts said a weak trend in the overseas markets as investor holdings extended declines to the lowest since 2009, mainly put pressure on the gold prices at futures trade here.

Globally, gold fell 0.3 per cent to USD 1,209.76 an ounce in early trade Singapore today. 

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DAILY COMMODITY REPORT FOR 10 DEC 2013

Precious Metals

GOLD  SILVER

                                                     D A I L Y B U Z Z

Snapping its two-day losing streak, gold rebounded by Rs 255 to Rs 30,755 per ten grams in the national capital today on low level buying by stockists and retailers for the ongoing marriage season.

However, silver remained under selling pressure for the sixth straight session and shed Rs 30 to Rs 43,470 per kg. It had lost Rs 1,575 in the previous five sessions.

Traders said low level buying by stockists and retailers for the ongoing marriage season led the recovery in gold.

They said silver remained under selling pressure against reduced offtake by industrial units and surrendered fresh ground.

On the domestic front, gold of 99.9 and 99.5 per cent purity rebounded by Rs 255 each to Rs 30,755 and Rs 30,555 per ten grams, respectively. It had lost Rs 750 in last two days. Sovereign rose by Rs 100 to Rs 25,200 per piece of eight gram.

On the other hand, silver ready continued to slide by Rs 30 to Rs 43,470 per kg and weeklybased delivery.

Base Metals & Energy

COPPER  CRUDE OIL

                                                     D A I L Y B U Z Z

Taking weak cues from global markets, aluminium prices fell to Rs 106.75 per kg in futures trading today as speculators offloaded positions.

Further, sluggish demand in the domestic spot markets also weighed on the metal prices.

At the Multi Commodity Exchange, aluminium for delivery in December declined by 55 paise, or 0.51 

per cent, to Rs 106.75 per kg in business turnover of 153 lots. Similarly, the metal for delivery in January 2014 contracts traded lower by 50 paise, or 0.46 per cent, to Rs 108.50 per kg in 13 lots.

Amid a weak trend in the global markets and sluggish domestic demand, zinc futures today fell 0.21 per cent to Rs 116.75 per kg as participants reduced their positions.

At the Multi Commodity Exchange, zinc for delivery in January traded lower by 25 paise, or 0.21 per 

cent, to Rs 116.75 per kg, with a business turnover of six lots.

The metal for delivery in current month fell by 20 paise, or 0.17 per cent, to Rs 115.55 per kg in a 

turnover of 110 lots.

Nickel prices dropped 0.39 per cent to Rs 850.60 per kg in futures trade today after participants trimmed holdings tracking a weak trend overseas amid sluggish demand from alloy-makers in the spot 

market. At the Multi Commodity Exchange, nickel for delivery in January next year dropped by Rs 3.30, or 0.39 per cent, to Rs 850.60 per kg in a business turnover of 19 lots. The metal for delivery in current month shed Rs 2.70, or 0.32 per cent, to Rs 842 per kg in 48 lots. 

Agro Outlook

CHANA  DHANIYA

                                                 D A I L Y B U Z Z

Cardamom prices fell by 0.42 per cent to Rs 705.50 per kg in futures trade today as speculators booked profits at prevailing levels amid subdued demand in the spot market.

Besides, adequate stocks position in the physical market following increased arrivals from producing belts also put pressure on cardamom.

At the Multi Commodity Exchange, cardamom for delivery in December fell by Rs 3, or 0.42 per 

cent to Rs 705.50 per kg in business turnover of 104 lots. Similarly, the spice for delivery in January shed Rs 2.30, or 0.31 per cent to Rs 733.50 per kg in 113 lots.

Analysts said besides profit-booking by speculators at prevailing higher levels, subdued demand in the spot market mainly influenced cardamom prices at futures trade. 

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REVIA DAILY MCX COMMODITY UPDATE FOR 09 DEC 2013

Precious Metals

SILVER  GOLD

                                                     D A I L Y B U Z Z

Gold prices fell by Rs 465 to Rs 30,785 per ten gram in the national capital today on reduced offtake by stockists at existing higher levels amid a weak global trend. 

Silver remained under selling pressure for the fourth straight day and lost Rs 200 to Rs 43,600 per kg, after losing Rs 1,275 in the previous three sessions. 

Traders said reduced offtake by stockists and retailers at existing higher levels amid a weak global trend as US economic data reinforced concern that the .

Gold in New York, which normally sets price trend on the domestic front, fell by 1.46 per cent to USD 1,225.10 an ounce and silver by 1.42 per cent to USD 19.44 an ounce last night. 

On the domestic front, gold of 99.9 and 99.5 per cent purity tumbled by Rs 465 each to Rs 30,785 and Rs 30,585 per ten gram, respectively. It had shot up by Rs 450 yesterday. Sovereign held steady at Rs 25,200 per piece of eight gram in scattered deals. 

Base Metals & Energy

COPPER CRUDE OIL

                                                  D A I L Y B U Z Z

Tracking a weak global trend, copper prices fell by 0.18 per cent to Rs 446.30 per kg in futures trade today as speculators offloaded positions. 

At the Multi Commodity Exchange, copper for delivery in February next year fell 80 paise, or 0.18 per cent, to Rs 446.30 per kg in business turnover of 642 lots. 

Similarly, the metal for delivery in April 2014 contracts traded lower by 65 paise, or 0.14 per cent, to Rs 452.50 per kg in 15 lots. 

Analysts attributed the fall in copper futures to weak global cues as investors weighed signs of improvement in the US economy against concern the Federal Reserve may start trimming its stimulus sooner than estimated. 

Agro Outlook

CHANA DHANIYA

                                                 D A I L Y B U Z Z

Chana prices rose by 0.14 per cent to Rs 2,911 per quintal in futures trade today as speculators created fresh positions, supported by an improvement in spot market demand due to ongoing marriage season. 

However, adequate stocks availability in the physical market and expectations of better output this season on favourable weather conditions, restricted the gains. 

At the National Commodity and Derivatives Exchange, chana for delivery in December rose by Rs 4, or 0.14 per cent t.

Similarly, the commodity for delivery in January edged up by Rs 4, or 0.13 per cent to Rs 3,036 per quintal in 69,690 lots. 

Analysts said fresh positions created by speculators after an improvement in spot market in view of marriage season mainly helped chana prices to trade higher at futures trade. 

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RESEARCH VIA DAILY COMMODITY REPORT FOR 29 NOV 2013

Precious Metals
SILVER  GOLD
                                                          D A I L Y B U Z Z
Extending its losses for the second straight day, gold prices dropped by Rs 210 to Rs 31,215 per
ten gram in the national capital today on sustained selling by stockists on reduced offtake at higher levels amid weakening global trend.

Silver prices too fell by Rs 480 to Rs 44,800 per kg on reduced offtake by jewellers and coin makers.

Traders said weak demand at prevailing higher levels and retailers looking for more correction mainly kept pressure on gold and silver prices. They said weakening global trend after a report showed rising confidence among American consumers, reduced demand for the precious metals as a safe haven, further fuelled the selling pressure.

Gold in New York, which sets price trend on the domestic front, fell by 0.3 per cent to USD 1,237.90 an ounce and silver by 1.1 per cent to USD 19.68 an ounce last night.

On the domestic front, gold of 99.9 and 99.5 per cent purity fell further by Rs 210 each to Rs 31,215 and Rs 31,015 per ten gram, respectively. It had lost Rs 200 yesterday. Sovereign followed suit and shed Rs 100 to Rs 25,200 per piece of eight gram.

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REVIA DAILY COMMODITY REPORT 22 NOV 2013

Precious Metals
SILVER  GOLD 
                                                     D A I L Y B U Z Z

             Gold prices moved down by 0.43 per cent to Rs 29,941 per 10 gram in futures trade, after participants offloaded partial positions, taking weak cues from the global market. At the Multi Commodity Exchange, gold for delivery in December eased by Rs 129, or 0.43 per cent, to Rs 29,941 per 10 gram in business turnover of 372 lots. Likewise, the metal for delivery in far-month February next year shed Rs 103, or 0.35 per cent, to Rs 29,329 per 10 gm in 34 lots. 

           Market analysts said a weak trend in the overseas markets after the US Federal Reserve signalled that policy makers may reduce monthly bond purchases in the coming months, mainly weighed on gold futures here. Globally, gold fell 2.54 per cent to $1,242.80 an ounce in New York on Wednesday.December 2013 silver futures at the MCX were trading down 0.57% at Rs 44,742 per 1 kg after hitting high of Rs 44,851. It opened at Rs 44,851.

Base Metals & Energy

COPPER   CRUDE OIL

                                                     D A I L Y B U Z Z
Crude oil futures are trading lower in global markets on Thursday. January 2013 Brent crude oil futures down 0.32% to USD 107.71 a barrel on the New York Mercantile Exchange.

Meanwhile, January 2013 light sweet crude oil (WTI) futures decreased 0.27% to trade at USD 93.59 a barrel on the New York Mercantile Exchange (12.34 pm IST).

Agro Outlook
CHANA    DHANIYA
                                                     D A I L Y B U Z Z

In overseas markets, US corn and wheat futures rose marginally to $414 and $646 6/8 respectively while soybeans fell t $12.83 per bushel on favourable planting conditions in Argentina. Among the gainers were ICE Coffee, ICE Sugar and Cotton.

Mixed trends were visible in agri-commodities markets with turmeric futures in India's National Commodity and Derivatives Exchange (NCDEX) gain sharply this week on estimates of lower producers while Chana fell 2.36% to Rs 3149 s market sentiments turned bearish on inferior quality of the commodity in Rajasthan and Maharashtra markets.

In overseas markets, US corn and wheat futures rose marginally to $414 and $646 6/8 respectively while soybeans fell t $12.83 per bushel on favourable planting conditions in Argentina. Among the gainers were ICE Coffee, ICE Sugar and Cotton.

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DAILY COMMODITY REPORT FOR 13 NOV 2013

Precious Metals
SILVER    GOLD
                                                          D A I L Y B U Z Z

Gold prices recovered by 0.25 per cent to Rs 29,778 per 10 grams in futures trade today as  speculators covered short positions even as precious metal remained weak overseas.

At the Multi Commodity Exchange, gold for delivery in December recovered by Rs 73, or 0.25  per cent, to Rs 29,778 per 10 gram in business turnover of 1,106 lots.

The metal for delivery in far-month February moved up by Rs 50, or 0.17 per cent, to Rs 29,479  per 10 gm in a turnover of 54 lots.

Silver prices recovered by 0.37 per cent to Rs 49,849 per kg in futures trade today, largely  supported by covering-up of short positions by speculators even as the metal weakened in  overseas markets.

Base Metals & Energy
COPPER   CRUDE OIL
                                                          D A I L Y B U Z Z

Lead prices traded lower by 0.55 per cent to Rs 135.20 per kg in futures market today as speculators
reduced their positions due to sluggish demand from battery makers in the spot market.

At the Multi Commodity Exchange, lead for delivery in December declined by 75 paise, or 0.55 per cent,  to Rs 135.20 per kg in business turnover of 81 lots.

Likewise, the metal for delivery in November shed 70 paise, or 0.52 per cent, to Rs 134.10 per kg in 2,527  lots.

Analysts attributed the weakness in lead futures to offloading of positions by speculators on sluggish

demand from battery-maker in the spot market.

Agro Outlook
CHANA DHANIYA
                                                       D A I L Y B U Z Z

Sugar futures dropped due to poor demand and ample stocks with mills, and many trade and  industry officials believe the contract could fall further.

The key December contract was down 0.11 percent at 2,837 rupees per 100 kg at 1033 GMT on  the National Commodity and Derivatives Exchange.

India started the new sugar-marketing year with carry-forward stocks of 8.8 million tonnes. The
country is expected to produce 25 million tonnes this year against a demand of 23 million  tonnes.

A pick-up in exports could help mills in trimming inventory and support prices, dealers said. Indian traders have struck deals to export about 175,000 tonnes of raw sugar for DecemberJanuary delivery, marking their first sale in the new season that started on Oct. 1.

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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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COMMODITY REPORT OF RESEARCH VIA FOR 08/OCT/2013

Precious Metals

SILVER GOLD

                                           D A I L Y B U Z Z

Gold futures prices rose by 0.79 per cent to Rs 29,000 per 10 gm today as speculators enlarged their positions on the back of firming global trends.

At the Multi Commodity Exchange, Gold for delivery in February, 2014 rose by Rs 228, or 0.79 per cent, to Rs 29,000 per 10 grams, with a business turnover of 11 lots.

In a similar fashion, the metal for delivery in December contracts moved up by Rs 226, or 0.78 per cent, to Rs 29,315 per 10 grams, with a trade volume of 666 lots.

Silver futures prices today rose by 0.75 per cent, to Rs 49,714 per kg, largely in tandem with a firming trend in precious metals in the global markets.

At the Multi Commodity Exchange, silver for delivery in December rose by Rs 368, or 0.75 per cent, to Rs 49,714 per kg in a business turnover of fiv e lots.

Similarly, the white metal for delivery in December traded Rs 352, or 0.70 per cent, higher at Rs 48,549 per kg in a turnover of 551 lots. In the international market, silver traded a shade higher at USD 21.74 an ounce in Singapore.

Base Metals & Energy

COPPER CRUDE OIL

                                            D A I L Y B U Z Z

Buoyed by a firm global trend and increased domestic demand, copper prices rose by 0.54 per cent to Rs 467 per kg in futures trade today.

At the Multi Commodity Exchange, copper for delivery in November traded higher by Rs 2.45, or 0.54 per cent to Rs 456.65 per kg in business turnover of 1,263 lots.

Similarly, the metal for delivery in February next year, edged up by Rs 2.15, or 0.46 per cent to Rs 467 per kg in a turnover of 51 lots.

Globally, copper for delivery in three months traded higher at USD 7,266.25 a tonne on the London Metal Exchange (LME).

Supported by demand in the domestic spot market and a firming global trend, lead futures prices today rose marginally to Rs 127.80 per kg.

At the Multi Commodity Exchange, lead for delivery in November traded 90 paise, or 0.71 per cent, higher to Rs 127.80 per kg, with a turnover of 15 lots.

The metal for delivery in October gained 80 paise, or 0.63 per cent, to Rs 126.80 per kg in a business volume of 434 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 COMMODITY UPDATE FOR 03/OCT/2013

Precious Metals

SILVER GOLD

                                              D A I L Y 

B U Z Z

Gold prices declined by 0.38 per cent to Rs 29,760 per ten grams in futures trade today as speculators trimmed their positions on weakening global trend.

At the Multi Commodity Exchange, Gold for delivery in December fell by Rs 114, or 0.38 per cent, to Rs 29,760 per ten grams in business turnover of 1,472 lots.

Similarly, the yellow metal for delivery in October traded lower by Rs 101, or 0.33 per cent, to Rs 30,324 per ten grams in 355 lots.

Market analysts said speculators trimmed their positions in tandem with a weak global trend on speculation that any US government shutdown will be short-lived, mainly influenced the sentiment.

Meanwhile, gold fell by 0.3 per cent to $1,324.95 an ounce in Singapore.

Base Metals & Energy

COPPER CRUDEOIL

                                           D A I L Y B U Z Z

Copper prices fell by 0.42 per cent to Rs 464.45 per kg in futures trade today as speculators offloaded their positions, taking negative cues from overseas markets.

Sentiment turned bearish after copper fell for the first time in five days in global markets on concern that the first US government shutdown in 17 years may curb demand.

At the Multi Commodity Exchange, copper for delivery in November fell by Rs 1.95, or 0.42 per cent to Rs 464.45 per kg in business turnover of 5,578 lots.

Similarly, the metal for delivery in February traded lower by Rs 1.35, or 0.28 per cent to Rs 474.90 per kg in 252 lots.

Nickel prices weakened by 0.18 per cent to Rs 876 per kg in futures trade today as speculators offloaded their positions on the back of subdued demand from alloy -makers in the spot market.

At the Multi Commodity Exchange, nickel for delivery in October declined by Rs 1.60, or 0.18 per cent, to Rs 876 per kg in business turnover of 1,185 lots.

Similarly, the metal for delivery in November traded marginally lower by 50 paise, or 0.06 per cent, to Rs 886.20 per kg in 33 lots.

Agro Outlook

CHANA  DHANIYA

                                        D A I L Y B U Z Z

Cardamom prices fell by 1.11 per cent to Rs 764.80 per kg in futures trading today as speculators trimmed position, tracking a weak trend at spot market due to sluggish demand.

Further, adequate stocks availability in the spot market following increased arrivals from producing regions also put pressure on cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in November fell by Rs 8.50, or 1.11 per cent to Rs 754.80 per kg in business turnover of 155 lots.

Similarly, the spice for delivery in October traded lower by Rs 5.50, or 0.76 per cent to Rs 715.30 per kg in 310 lots.

Market analysts said offloading of positions by speculators, tracking a weak trend at spot market on sluggish demand against adequate supplies from producing regions, mainly influenced cardamom prices at futures trade.

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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 12/09/2013

Precious Metals
SILVER GOLD:
                                                DAILY BUZZ
Gold prices slide by 0.34 per cent to Rs 30,649 per ten gram in futures trade today as speculators trimmed positions on weak global trend.
At the Multi Commodity Exchange, gold for delivery in October month fell by Rs 104, or 0.34 per cent, to Rs 30,649 per ten gram in business turnover of 7,767 lots.
Likewise, the yellow metal for delivery in December traded lower by Rs 81, or 0.30 per cent, to Rs 30,558 per ten gram in 499 lots.
Market analysts attributed the fall in gold futures to a weak global trend.

Meanwhile, gold fell by $ 23.20 to $ 1363.30 an ounce in New York last night.

Base Metals & Energy

COPPER  CRUDE OIL

                                             DAILY BUZZ

Zinc futures prices on Wednesday rose by one per cent to Rs 121 per k g as speculators enlarged positions, tracking a firming trend overseas.

At the Multi Commodity Exchange, zinc prices for delivery in October up by Rs 1.20, or one per

cent, to Rs 121 per kg in business turnover of six lots.

Likewise, the metal prices for delivery in September gained Rs 1.15, or 0.97 per cent to Rs 119.55

per kg in 208 lots.

Nickel prices surged by 1.42 per cent to Rs 883.50 per kg in futures trade today as speculators enlarged their positions on the back of strong demand from alloy -makers in the spot market amid a firming global trend.

At the Multi Commodity Exchange, nickel for delivery in September month traded Rs 12.40, or 1.42 per cent, higher at Rs 883.50 per kg in business turnover of 728 lots.

In a similar fashion, the metal for delivery in October shot up by Rs 12, or 1.36 per cent, to Rs 892 per kg in 44 lots.

Agro Outlook

CHANA   DHANIYA

                                        DAILY  BUZZ

Cardamom prices rose 1.46 per cent to Rs 798 per kg in futures trade on Wednesday as traders enlarged positions driven by pick-up in spot market demand.

The tight stocks position following less arrivals from producing regions also influenced cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in in October rose by Rs 11.50, or 1.46

per cent, to Rs 798 per kg, with a business turnover of 315 lots.

Similarly, the spice for delivery in November edged up by Rs 6.80, or 0.83 per cent, to Rs 823.50 per kg with a business turnover of 34 lots.

Mentha oil futures prices today moved down by 0.70 per cent to Rs 886 per kg due to higher supplies from producing regions against lower demand from pharmaceutical units.

Adequate stocks following higher supplies from producing region in the physical market also kept pressure on mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in September declined by Rs 6.30, or

0.70 per cent, to Rs 886 per kg in business turnover of 248 lots. Likewise, the oil for delivery in October traded lower by Rs 2.80, or 0.30 per cent, to Rs 902.70 per kg in 37 lots.

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RESEARCH VIA DAILY COMMODITY REPORT FOR 10/ SEP/ 2013

Precious Metals

SILVER GOLD

                                                         D A I L Y B U Z Z

Silver prices fell 1.07 per cent to Rs 54,108 per kg in futures market today as speculators trimmed their positions, tracking a weak global trend.

At the Multi Commodity Exchange, silver for delivery in December moved down by Rs 587, or 1.07 per cent to Rs 54,108 per kg in business turnover of 3349 lots.

Similarly, the silver for delivery in March lost Rs 495, or 0.89 per cent to Rs 55,400 per kg in 18 lots.

Market analysts attributed the fall in silver futures to speculators trimming their positions in tandem with a weak global trend.

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, copper prices fell by 1.23 per cent to Rs 486.55 per kg in futures trade today.

At the Multi Commodity Exchange, copper for delivery in far-month February fell Rs 6.05, or 1.23 per cent, to Rs 486.55 per kg in a business turnover of 241 lots.

Similarly, the metal for delivery in November traded lower by Rs 5.70, or 1.18 per cent to Rs 478 per kg in 2,766 lots.

Lead prices fell by 1.24 per cent to Rs 1 39.90 per kg in futures trade today as speculators trimmed exposure on subdued spot demand amid a weak trend in the base metals in global markets.

At the Multi Commodity Exchange, lead for delivery in September fell by Rs 1.75, or 1.24 per cent, to Rs 139.90 per kg in business turnover of 1,155 lots.

The metal for delivery in October also fell by Rs 1.75, or 1.23 per cent, to Rs 140.65 per kg in a turnover of 71 lots.

Agro Outlook

CHANA  DHANIYA

                                                      D A I L Y B U Z Z

Soybean prices hardened by Rs 69.50 to Rs 3,561 per quintal in futures trading today on traders' buying on the back of firm overseas markets sentiment.

Marketmen said thin supply and pick up in domestic demand mainly supported the upsurge in futures trade.

At the National Commodity and Derivatives Exchange, soybean prices for far January contractspurted by Rs 69.50, or 1.91 per cent to Rs 3,561 per quintal, with an open interest of 3,090 lots.

Most active near November contract surged by Rs 63.50, or 1.79 per cent to Rs 3,508 per quintal,

having an open interest of 1,14,030 lots.

Mentha oil prices edged up by Rs 1.50 to Rs 948.50 per quintal in futures today as speculators

enlarged positions after pick up in demand in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in September edged up by Rs 1.50, or

0.16 per cent to Rs 948.50 per kg in business turnover of 619 lots.

Likewise, the oil for delivery in October traded marginally higher by 20 paise, or 0.02 per cent to

Rs 962.60 per kg in 85 lots.

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RESEARCH VIA DAILY COMMODITY REPORT FOR 04/09/2013

Precious Metals

SILVER  GOLD

                                                  D A I L Y B U Z Z

Gold futures prices today fell by 1.19 per cent to Rs 32,598 per 10 grams as speculators offloaded their positions, taking weak cues from the global market.

Besides, subdued spot demand and profit-booking by speculators also put pressure on gold futures.

At the Multi Commodity Exchange, gold prices for delivery in October fell by Rs 390, or 1.19 per cent, to Rs 32,598 per 10 grams in business turnover of 525 lots.

Similarly, metal prices for delivery in the far-month December declined by Rs 370, or 1.12 per cent, to Rs 32,685 per 10 grams in 86 lots.

Silver prices drifted by 0.27 per cent to trade at Rs 55,110 per kg in futures trade today as speculators engaged in reducing exposures.

At the Multi Commodity Exchange, silver for delivery in far-month December traded Rs 150, or 0.27 per cent lower at Rs 55,110 per kg in business turnover of 1,860 lots.

In a similar fashion, the white metal for delivery in September fell by Rs 102, or 0.19 per cent lower, at Rs 53,110 per kg in 1,869 lots.

Base Metals & Energy

COPPER   CRUDE OIL

                                                  D A I L Y 

B U Z Z

Buoyed by a firm global trend and increased domestic demand, copper prices rose 0.35 per cent to Rs 488.65 per kg in futures trade today as speculators enlarged positions.

At the Multi Commodity Exchange, copper for delivery in November traded higher by Rs 1.90, or 0.35 per cent, to Rs 488.65 per kg in business turnover of 2,327 lots.

The metal for delivery in far-month February edged up by Rs 1.60, or 0.32 per cent, to Rs 495.30 per kg in 56 lots.

Crude oil futures prices today dipped 2.93 per cent to Rs 7,034 per barrel, as speculators trimmed positions at prevailing levels amid a weakening trend in Asian trade.

At the Multi Commodity Exchange, crude oil for delivery in September fell by Rs 212, or 2.93 per cent, to Rs 7,034 per barrel in 5,843 lots.

In a likewise manner, oil for delivery in October moved down by Rs 202, or 2.78 per cent, to Rs 7,267 per barrel in 436 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 after participants 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 market 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.

DHANIYA

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 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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DAILY COMMODITY REPORT FOR 28/08/2013

Precious Metals

SILVER  GOLD

                                                           D A I L Y B U Z Z

Silver futures prices today spurted by 1.57 per cent to Rs 54,630 per kg as speculators created 

positions even as metal declined in Asian trade.

At the Multi Commodity Exchange, silver for delivery in September traded higher by Rs 843, or 1.57 per cent, to Rs 54,630 per kg in business turnover of 905 lots. 

On the similar lines, the white metal for delivery in far-month December traded Rs 829, or 1.51 per cent, higher at Rs 55,660 per kg in a turnover of 91 lots. 

In the international market, silver, however, declined 1 per cent to USD 24.07 an ounce after climbing to USD 24.41 yesterday, the highest since May.

Base Metals & Energy

COPPER   C R U D E O I L

                                                         D A I L Y B U Z Z

Crude oil futures prices today rose by 1.21 per cent to Rs 6,951 per barrel as speculators enlarged positions, tracking a firming trend in the Asian region.

At the Multi Commodity Exchange, crude oil prices for delivery in September traded Rs 83, or 1.21 per cent higher at Rs 6,951 per barrel, with a business turnover of 4,578 lots. 

The crude oil prices for October also up by Rs 76, or 1.11 per cent, to Rs 6,944 per barrel, with a 

business volume of 513 lots. 

Market analysts said the rise in crude oil futures attributed to a firming trend in Asia on concerns over possible US military action against Syria after Washington warned President Bashar al-Assad's regime it would face action over an alleged chemical weapons attack.

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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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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MCX UPDATE FOR 11/JUNE/2013

Agri Reports:
Oil and Oilseeds Insight: Moderate gains could be noticed in domestic soybean, backed by the anticipation of lower arrivals across the major markets. The IMD has forecast fairly widespread rainfall in the major growing states, mainly Maharashtra and Madhya Pradesh, which could push prices higher today. The anticipation of weakness in the rupee could support gains in prices as soy meal exports could increase. However, investors should be cautious as higher global supplies, mainly from South America could cause lackluster demand for Indian soy meal. In the near-term, we could see corrections in prices as the major importers of Indian soy meal could restrict imports at higher prices.
Spices Insight: 
Commodity                Contract       S2         S1        CLOSE         R1          R2
Turmeric NCDEX        Jul-13       5540      5583         5632        5672        5708
Jeera NCDEX             Jul-13      13243   13278        13318     13367       13411
Chilli NCDEX             Jul-13        5850     5909          5974       6023         6069
Cardamom MCX        Jun-13        676        681         685.4         691           696
Dhaniya NCDEX        Jul-13        6440     6516          6599       6734         6853

Non Agri-Reports:
Metals Insight:
Commodity                    Contract        S2          S1          CLOSE         R1           R2
Copper COMEX              Jun-13       3.219     3.229          3.239        3.245       3.250
Copper LME 3M               Fwd         7116      7141            7168         7192       7213
Copper MCX                   Jun-13      411.3      413.9        416.90        418.5       420.0
Lead LME 3M                   Fwd         2118      2138            2161         2173        2184
Lead MCX                       Jun-13      122.5     123.9         125.50        126.4       127.1
Zinc LME 3M                     Fwd         1863     1874           1887          1896        1905
Zinc MCX                       Jun-13       107.0     107.8         108.60        109.2       109.7
Nickel LME 3M                 Fwd       14763    14824          14890       14972      15045
Nickel MCX                     Jun-13      857.6     862.1           867.1         872.4      877.1
Aluminium LME 3M          Fwd         1914      1919            1925          1932       1940
Aluminium MCX             Jun-13       108.8     109.6          110.4         111.1      111.8
Steel MCX                      Jun-13      27740    27830         27930        28190      28250

Bullion Insight:
Gold: This morning, gold future prices are trading at $1383.60, down 0.10%. The Bank of Japan kept its benchmark rate unchanged and retains its asset purchase program to spur the economic growth. This supported the yen against the dollar and limited the fall in gold prices in the morning. From the euro-zone, UK's industrial production and manufacturing numbers might increase at a slower pace, and should pressurize the pounds against the dollar and weigh down gold prices. During the US hours, it is expected that the NFIB small business optimism should improve on the back of recovery in the US economy while business inventories might stockpile, having a mixed impact on the dollar and gold prices. However, the dollar might appreciate in the evening on the back of concerns that the Fed might scale down the stimulus program from $85 billion to $65 billion, which should pressurize gold prices. At the MCX, we expect a positive opening for non-agri commodities, backed by the depreciation in the rupee against the dollar.Therefore, volatility in the dollar is expected during the US hours. Overall, we recommend remaining on the selling side.

Silver: Silver prices in the morning are trading at $21.81, down 0.50%. From the euro-zone, the UK's industrial production and manufacturing numbers would increase at a slower pace, which should pressurize the pound against the dollar and extend the downside in silver prices. During the US hours, it is expected that the NFIB small business optimism might improve on the back of economic recovery in the US while business inventories might increase, which should have a mixed impact on the dollar. However, the dollar might appreciate in the evening on the back of concerns that the Fed might scale back the stimulus program from $85 billion to $65 billion, which should pressurize silver prices. At the MCX, we expect a positive opening in the non-agri commodities backed by depreciation in the rupee against the dollar. Therefore, we expect some volatility in the dollar during the US hours. Overall, we recommend remaining on the selling side.

Commodity              Contract            S2            S1           CLOSE         R1           R2
Gold Comex              Aug-13         1374.7     1380.0        1386.00     1389.9     1393.5
Gold MCX                 Aug-13          27605      27796           28011       28126      28233
Silver Comex             Jul-13          21.32        21.61             21.93         22.12      22.30
Silver MCX                Jul-13          42753       43415            44162        44557    44924

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