WEEKLY MCX COMMODITY REPORT FOR 27 JAN 2015

Precious Metals

D A I L Y B U Z Z

GOLD/SILVER

Silver prices fell by Rs 139 to Rs 39,940 per kg in futures trade today due to weak global trends. At the Multi Commodity Exchange, the March contract of silver fell by Rs 139, or 0.35 per cent, to Rs 39,740 per kg in business turnover of 8,583 lots. The far-month May contract of the metal declined by Rs 129, or 0.32 per cent, to Rs 40,600 per kg in business volume of 89 lots. Fall in silver prices was mostly in tune with a weak trend in global markets, analysts said. In the international market, silver fell 0.46 per cent to USD 18.22 an ounce in London. At spot markets here, silver was trading at Rs 40,100 per kg, up by Rs 400 over yesterday, on increased offtake by industrial units and coin makers. Gold prices recovered by Rs 150 to trade at Rs 28,500 per ten gram at the bullion market today on emergence of buying by jewellers to meet wedding season demand amid a firming trend overseas. Silver also rebounded by Rs 400 to Rs 40,100 per kg on increased offtake by industrial units and coin makers. Marketmen said apart from buying by jewellers to meet ongoing wedding season demand, a firming global trend after the European Central Bank's announced a bigger-than-expected stimulus measures, boosting demand for the safe-haven, influenced Gold prices here. In the national capital, gold of 99.9 and 99.5 per cent purity were up by Rs 150 each to Rs 28,500 and Rs 28,300 per ten gram respectively. It had lost Rs 150 yesterday. 

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DAILY COMMODITY REPORT FOR 26 DEC 2014

Precious Metals

                                  D A I L Y B U Z Z

GOLD

Gold futures were trading with slim losses in the domestic market on Wednesday as investors and speculators stayed cautious over booking fresh positions in the precious metal as a slump in holdings in gold-backed exchange traded products (ETP) signaled weak investment demand for the bullion. Holdings in the SPDR Trust, the world’s biggest gold-backed ETP fell the most in 18 months, down 1.6 per cent to 712.9 metric tons. Further, upbeat US Q3 GDP data raised fears of a sooner than expected rate hike by the Fed, dimming the appeal of the bullion as a store of value. At the MCX, Gold futures for February 2015 contract is trading at Rs 26,619 per 10 gram, down by 0.02 per cent after opening at Rs 26,587, against the previous closing price of Rs 26,625. It touched the intra-day low of Rs 26,572 till the closing. (At 10:29 AM).

Base Metals

                                 D A I L Y B U Z Z

LEAD

Lead future declined at the domestic commodity market on Wednesday by 0.26 percent on back of surge in stockpiles at London Metal Exchange (LME) on account of the weak demand for the commodity. LME lead stocks rose by 300 metric tonnes to 221025 metric tonnes as on December 24, 2014.At the MCX, Lead futures, for the December 2014 contract, is trading at Rs 117.30 per kg, down by 0.26 per cent, after opening at Rs 117.70, against a previous close of Rs 117.60. It touched an intra-day low of Rs 117.20 till the trading. (At 4.30 PM).

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DAILY COMMODITY REPORT FOR 1 DEC 2014

Precious Metals

D A I L Y B U Z Z

GOLD

Gold futures slid 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 a plunge in global oil prices, which have tumbled to the lowest level in four years signal slowing inflation in the world economy, denting the yellow metal’s appeal as a hedge against inflation. Crude oil prices plunged deeper into bear terrain after the OPEC decided against reducing production in a bid to maintain market share amid surging US output. 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. Gold futures for December 2014 contract, at MCX, is trading at Rs. 26,118 per 10 grams, down by 0.49 per cent, after opening at Rs. 26,155, against the previous closing price of Rs 26,247. It touched an intra-day low of Rs 26,085. (At 11:07 AM).

Base Metals & Energy

D A I L Y B U Z Z

COPPER

Copper futures were trading lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal tracking a weak trend in the overseas market as a strike at the Antamina copper mine in Peru ended after three-weeks, dimming concerns over tighter global copper supplies. BHP Billiton and Glencore’s copper and zinc mine in Peru will resume operations next week following the end of a three-week strike. Antamina is the world’s sixth biggest copper mine. At the MCX, copper futures for November 2014 contract is trading at Rs. 400.85 per 1 kg, down by 0.69 per cent, after opening at Rs. 402.50, against the previous closing price of Rs. 403.65. It touched an intra-day low of Rs. 400.25. (At 11:12 AM).

CRUDE OIL

Crude oil futures tumbled deeper into the bear terrain on Friday as investors restored to further selling in the energy commodity, after the OPEC, which refrained from a much needed production cut to relieve a supply glut, braced for a price war with US shale producers. OPEC will maintain its collective output target at 30 million barrels a day, Saudi Arabia’s Oil Minister Ali-Al-Naimi said. Goldman Sachs predicted that OPEC’s verdict of not cutting output will lead to a further decline in global oil prices. At the MCX, Crude Oil futures, for the December 2014 contract, is trading at Rs 4,268 per barrel, down by 0.54 per cent, after opening at Rs 4,250, against a previous close of Rs 4,291. It touched an intra-day low of Rs 4,247. (At 11:03 AM)

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DAILY COMMODITY AGRI UPDATES 05 AUG 2014

Agro Outlook
D A I L Y B U Z Z
CHANA 
Chana prices fell 0.69 per cent to Rs 2,871 per quintal in futures trade today as speculators trimmed positions amidst increased supplies from producing regions in the spot market against weak demand.

At the National Commodity and Derivative Exchange, chana for delivery in September moved down by Rs 20, or 0.69 per cent, to Rs 2,871 per quintal with an open interest of 1,15,010 lots.

Similarly, the commodity for delivery in August traded lower by Rs 18, or 0.64 per cent, to Rs 2,787 per quintal in 92,020 lots.

TURMERIC 
Turmeric prices shot up by 2.29 per cent to Rs 6,780 per quintal in futures trading today as speculators indulged in creating fresh positions amid rising demand in the spot market.

Besides, tight stocks position in the physical market following fall in supplies from producing regions also supported the upside in turmeric prices.

At the National Commodity and Derivatives Exchange, turmeric for delivery in September spurted by Rs 152, or 2.29 per cent, to Rs 6,780 per quintal with an open interest of 6,560 lots.

Similarly, the spice for delivery in August gained Rs 128, or 1.99 per cent, to Rs 6,548 per quintal in 11,265 lots. 

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DAILY COMMODITY REPORT FOR 23 APRIL 2014

Precious Metals 

D A I L Y B U Z Z

GOLD 

Gold futures fell as signs of gains in the US economy eroded demand for the metal. Platinum dropped amid signs of progress in the labour dispute in South Africa, the world's biggest producer. Consumer confidence rose from a nine week low as Americans grew more upbeat about the economy, and jobless claims were close to the lowest in almost seven years, data showed last week.

The Federal Reserve Bank of Philadelphia factory index, a gauge of regional manufacturing, climbed to 16.6 in April, topping estimates by analysts. Gold dropped 1.9 per cent this week. In 2013, gold plunged 28 per cent, the most since 1981, as US equities rallied to a record and inflation remained muted. The slump ended a 12-year rally, the longest ever. Holdings in the SPDR Gold Trust, the largest exchange traded product backed by the metal, on Wednesday fell the most in four months to 798.43 tonne, the lowest since February 21. Platinum futures for July delivery dropped 0.6 per cent to close at $1,428.70 an ounce on the New York Mercantile Exchange. The price for immediate delivery fell as much as 1.5 per cent at 2:12 pm on Thursday. 

Anglo American Platinum, Lonmin and Impala Platinum Holdings, South Africa's top producers, offered to more than double the wages of their lowest-paid workers within three years as a strike that has crippled operations entered the 13th week. Palladium futures for June delivery climbed 0.6 per cent to $807.10 an ounce on the Nymex. Silver futures for May delivery fell 0.2 per cent to $19.596 an ounce on the Comex. 

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