White metal jumps on firm global signs in market

Silver futures closed high in the domestic market on Tuesday after participants raised their bets amid firming global trends. Analysts imputed the hike in silver prices at futures trade to a firming trend in the precious metals overseas.

At the MCX, silver futures for Dec. 2016 contract closed at Rs 42,433 per kg, upward by 0.89 %, after opening at Rs 42,151, against a last close of Rs 42,058. It touched the intra-day high of Rs 42,458.

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Silver down on weak global signs in market

On the domestic market Silver futures closed low on Friday as participants engaged in trimming their positions taking weak signs from global market. Marketmen attributed the drop in silver prices at futures trade to a weak trend in the precious metals overseas and profit-booking by participants at existing levels.

At the MCX, silver futures for Dec 2016 contract closed at Rs 41,780 per kg, down by 0.26 %, after opening at Rs 41,856, against a previous close of Rs 41,890. It touched the intra-day lower of Rs 41,567.

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RESEARCH VIA DAILY COMMODITY REPORT ON GOLD TIPS & CARDAMOM UPDATE 13/03/2014

Precious Metals

D A I L Y B U Z Z

GOLD
Gold futures recovered by 0.66 per cent to Rs 30,447 per 10 grams today as speculators created fresh positions as tensions in Ukraine have escalated, raising demand for safe-haven.

Besides, covering-up of short positions by speculators at prevailing levels also influenced gold futures prices here.

At the Multi Commodity Exchange, metal for delivery in April gained Rs 200, or 1.32 per cent, to trade higher at Rs 30,447 per 10 grams in a turnover of 633 lots.

Similarly, the metal for delivery in June spurted by Rs 172, or 0.58 per cent, to Rs 29,757 per 10 grams, clocking a business volume of 47 lots.

Analysts attributed the rise in gold prices at futures trade to the precious metal's recovery in the global markets where it climbed to a 19-week high as speculations that China's growth is faltering, hurt equities.

Globally, gold rose 0.8 per cent to USD 1,359.83 an ounce in Singapore today, the highest level since October 29.

Agro Outlook

D A I L Y B U Z Z

CARDAMOM
Cardamom futures moved down by 1.27 per cent to Rs 785.10 per kg in futures trade today amid profit-booking at prevailing higher levels and decline in demand in the spot market.

At the Multi Commodity Exchange, cardamom for delivery in March declined by Rs 10.10, or 1.27 per cent, to Rs 785.10 per kg in a business turnover of 10 lots.

Similarly, the spice for delivery in April shed Rs 2.60, or 0.31 per cent, to Rs 828 per kg in 415 lots. 

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