DAILY REPORT ON COMMODITY MARKET 13 FEB 2015

Precious Metals

D A I L Y B U Z Z

GOLD

Gold prices fell by 0.09 per cent on Thursday at the domestic markets with events surrounding Greece in sharper focus and the implications for euro zone stability. However, losses were curbed in the midst of speculation of further monetary easing from the People's Bank of China after Tuesday's lower-than-expected inflation data.Gold futures for April 2015 contract, at MCX, were trading at Rs. 26,641 per 10 grams, down by 0.09 per cent after opening at Rs. 26,609 against the previous closing price of Rs. 26,665. It touched the intra-day low of Rs. 26,550 till the trading. (At 11.51 AM).

SILVER 

Silver prices fell Rs. 253 to Rs. 37,465 per kg at the futures trade today as speculators reduced positions amid overnight weakness in global markets.On the Multi Commodity Exchange, silver for delivery in May lost Rs. 253 or 0.67 per cent to Rs. 37,465 per kg with a turnover of 68 lots.Similarly, silver for delivery in March dropped by Rs. 237 or 0.63 per cent to Rs. 37,170 per kg in a business turnover of 1,208 lots.Marketmen said a weak trend in global markets, as strengthening dollar and prospects for higher US interest rates have curbed the precious metal’s appeal as a protection of wealth, put pressure on silver futures here.Meanwhile, silver dropped 0.71 per cent to $16.79 an ounce in New York in yesterday’s trade.

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TODAY BASE METAL & ENERGY REPORT 02 JAN 2015

Base Metals & Energy

D A I L Y B U Z Z

CRUDEOIL

Crude oil prices rose by 0.74 per cent on Thursday at the domestic markets after Energy Information Administration said that U.S. Crude Oil Inventories fell to a seasonally adjusted annual rate of -1.754M, from 7.267M in the preceding month signaling that the demand for the commodity in US, world’s largest consumer of crude oil is strong. At the MCX, crude oil futures for January 2015 contract were trading at Rs. 3,394 per barrel, up by 0.74 per cent, after opening at Rs. 3,398 against the previous closing price of Rs. 3,369. It touched the intra-day low of Rs. 3,410 till the trading. (At 11.41 AM today).

NATURAL GAS

Natural gas futures tumbled in the domestic market on Thursday as investors and speculators exited positions in the energy commodity as forecasts for mild January weather dampened heating demand in the world’s biggest economy while supplies fell last than expected last week.The Commodity Weather Group expects January temperatures to be 6.7 per cent warmer than a year earlier, dimming the demand outlook for the heating fuel.US gas stockpiles fell 26 billion cubic feet to 3.22 trillion cubic feet in the week ended December 26, 2014, the smallest withdrawal for this period since 2005 and missing analysts’ forecast for a drop of 34 billion cubic feet.At the MCX, Natural Gas futures for January 2015 contract closed at Rs 185.20 per 1 kg, down by 2.06 per cent after opening at Rs 186.60, against the previous closing price of Rs 189.10. It touched the intra-day low of Rs 182.80 till the closing.

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DAILY GOLD & SILVER REPORT 31 DEC 2014

Precious Metals

D A I L Y B U Z Z

GOLD

Gold prices rose by 0.49 per cent on Tuesday at the domestic markets as a result of a decline in stocks. However, a stronger dollar reduced the appeal of the bullion as an alternative asset after a Greek vote triggered the dissolution of the country's parliament. Stronger dollar makes the precious metal expensive for those holding other currencies, thus reducing demand. Gold futures for February 2015 contract, at MCX, were trading at Rs. 26,896 per 10 grams, up by 0.49 per cent after opening at Rs. 26,845 against the previous closing price of Rs. 26,764. It touched the intra-day high of Rs. 26,918 till the trading. (At 11.25 AM today).

SILVER

Silver prices rose by Rs 169 to Rs 36,653 per kg in futures trading today as speculators indulged in creating fresh positions amid a firming trend in the precious metals overseas. At the Multi Commodity Exchange, silver for delivery in March traded higher by Rs 169, or 0.46 per cent, at Rs 36,653 per kg in business turnover of 432 lots. Likewise, the white metal for delivery in May traded higher by Rs 158, or 0.43 per cent, to Rs 37,312 per kg in 9 lots. Market analysts said fresh positions built-up by speculators largely in tandem with a firming trend in the precious metals overseas as a retreat in stocks revived demand for an alternative investment, supported the upside in silver prices at futures trade. Meanwhile, silver was up 0.70 per cent at 15.91 an ounce in Singapore.

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DAILY COMMODITY MCX NCDEX REPORT FOR 29/12/14

Energy

D A I L Y B U Z Z

CRUDEOIL

Crude oil futures slumped in the domestic market on Wednesday as investors and speculators exited positions in the energy commodity as US crude oil stockpiles rose at the fastest pace in two months, signaling weakening demand for the fuel in the world’s biggest oil consumer. US crude oil stockpiles surged 7.27 million barrels to 387.2 million barrels in the week ended December 19, 2014, the EIA said. Analysts were expecting US supplies to rise 2.5 million barrels last week. Cushing supplies surged 973,000 barrels to 28.8 million barrels last week. American refineries operated at 93.5 per cent of their capacity last week, unchanged from the previous week, signaling sluggish demand for the fuel in the world’s biggest oil consumer. Investors shrugged off robust US jobless claims data which showed a drop in applications for claiming unemployment benefits to a seven-week low last week, signaling an improving labour market recovery in the world’s biggest economy. US jobless claims fell by 9,000 to the lowest level since early November at 280,000 in the week ended December 20, 2014. Crude oil futures may rebound today amid speculation that Saudi Arabia, OPEC’s largest crude exporter is seen as signaling confidence in the oil market. At the MCX, Crude oil futures, for the January 2015 contract, closed at Rs 3,550 per barrel, down by 1.63 per cent, after opening at Rs 3,612, against the previous close price of Rs 3,609. It touched an intraday low of Rs 3,525 till the closing.

Agro Outlook

D A I L Y B U Z Z

DHANIYA

Coriander prices fell by 0.77 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as adequate stocks availability in the physical market put downward pressure on coriander prices.At the NCDEX, coriander futures for January 2015 contract were trading at Rs. 12,570 per quintal, down by 0.77 per cent, after opening at Rs. 12,800 against the previous closing price of Rs. 12,668. It touched the intra-day low of Rs. 12,451 till the trading. (At 02.32 PM).

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DAILY COMMODITY REPORT 11 DEC 2014

Precious Metals

D A I L Y B U Z Z

GOLD/SILVER

Gold prices rose by 0.21 per cent to Rs 27,336 per 10 grams in futures trade as speculators created fresh positions taking positive cues from the global market. 

At Multi Commodity Exchange, gold for delivery in far- month April was up by Rs 58, or 0.21 per cent, to Rs 27,336 per 10 gram in business turnover of 38 lots. The precious metal for delivery in February moved up by Rs 34, or 0.13 per cent, to Rs 27,193 per 10 gram in a turnover of 1,765 lots. 

Meanwhile, gold rose to USD 1,238.32 an ounce in New York, the highest price since October 23. 

Silver prices were marginally up by 0.08 per cent to Rs 38,550 per kg in futures trading today as participants built up fresh positions, tracking a better trend overseas. 

At the Multi Commodity Exchange, silver for delivery in March next year gained by Rs 29, or 0.08 per cent to Rs 38,550 per kg in business turnover of 1,734 lots. Likewise, the white metal for delivery in far-month May contracts traded higher by Rs 33, or 0.08 per cent to Rs 39,162 per kg in 43 lots. 

Energy

D A I L Y B U Z Z

CRUDE OIL

Crude oil futures fell in the domestic market on Wednesday as investors and speculators exited positions in the energy commodity after Iran predicted a further dip in prices amid discord among OPEC members. An Iranian official said that crude may fall to as low as USD 40 per barrel due to a price war or divisions in the OPEC. Major OPEC members such as Saudi Arabia and Iraq have cut prices for its Asian buyers to the lowest level in over a decade as they bid to maintain their market share amid surging US crude output. At the MCX, Crude Oil futures, for the December 2014 contract, is trading at Rs 3,932 per barrel, down by 0.28 per cent, after opening at Rs 3,915, against a previous close of Rs 3,943. It touched an intra-day low of Rs 3,910. (At 11:37 AM).

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DAILY MCX COMMODITY GOLD, SILVER & ALUMINIUM 17 OCT 2014

Precious Metals

D A I L Y B U Z Z

GOLD/SILVER

Gold prices rose further by Rs 190 to Rs 27,840 per ten grams in the national capital today on sustained buying by jewellers and retailers amid festive season demand and weakening rupee.

Silver also recovered by Rs 100 to Rs 38,900 per kg on increased offtake by industrial units and coin makers.

Gold in New York, which normally sets price trend on the domestic front, rose 0.72 per cent to trade at five-week high of USD 1,241.10 an ounce and silver by 0.32 per cent to USD 17.45 an ounce in yesterday's trade.

In Delhi, gold of 99.9 and 99.5 per cent purity rose by Rs 190 each to Rs 27,840 and Rs 27,640 per ten grams, respectively.

It had gained Rs 70 in yesterday's trade. Sovereign followed suit and gained Rs 100 to Rs 24,300 per piece of eight gram.

Silver ready rebounded by Rs 100 to Rs 38,900 per kg and weekly-based delivery by Rs 105 to Rs 38,870 per kg, while silver coins held steady at Rs 69,000 for buying and Rs 70,000 for selling of 100 pieces. 

Base Metals

D A I L Y B U Z Z

ALUMINIUM

Aluminium prices fell 0.88 per cent to Rs 117.70 per kg in futures trade today as speculators offloaded their positions amid weak cues from global markets. 

At the Multi Commodity Exchange, aluminium for delivery in October declined by Rs 1.05, or 0.88 per cent, to Rs 117.70 per kg in a business turnover of 267 lots.Similarly, the metal for delivery in November traded lower by 75 paise, or 0.63 per cent, to Rs 119 per kg in 20 lots.

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DAILY COMMODITY REPORY FOR 04 AUG 2014

Precious Metals

D A I L Y B U Z Z

SILVER 

Silver futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the precious metal amid a pickup in physical demand for the bullion in the domestic spot market. 

However, caution ahead of the US jobs data which may show strength in the labour market of the world’s biggest economy and may prompt the Fed to raise interest rates in the near-term, dimmed the appeal of silver as a store of value, trimming gains in the precious metal. The US economy may have added more than 200,000 jobs for a sixth straight month in July, data may show today. 

At the MCX, Silver futures, for the September 2014 contract, closed at Rs. 44,484 per kg, up by 0.19 per cent, after opening at Rs. 44,393, against the previous closing price of Rs 44,399. It touched an intra-day high of Rs 44,580 

Base Metals & Energy

ZINC 

Zinc prices eased 0.28 per cent to Rs 143.55 per kg in futures trade today as speculators trimmed positions amidst a weak trend overseas. Besides, low demand in domestic spot markets fuelled the downtrend. 

At the Multi Commodity Exchange, zinc for delivery in August traded lower by 40 paise, or 0.28 per cent, to Rs 143.55 per kg in a business turnover of 280 lots. 

Similarly, the metal for delivery in September shed 30 paise, or 0.21 per cent, to Rs 144.05 per kg in three lots. Market analysts attributed the fall in zinc futures to a weak global trend and subdued demand from consuming industries at domestic spot markets. 

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