DAILY COMMODITY REPORT FOR 11 MARCH 2015

Precious Metals

D A I L Y B U Z Z

GOLD

Gold futures fell by 0.48 per cent on Tuesday at the domestic markets from China showed a sharper than expected drop in producer prices, though consumer prices were stronger than expected. Producer prices year-on-year for February fell 4.8 per cent, more than the 4.3 per cent decline expected. But consumer prices year-on-year for the same month rose 1.4 per cent, faster than the 0.9 per cent gain expected. Further, stronger dollar reduced the appeal of the bullion as an alternative asset. Stronger dollar makes the precious metal expensive for those holding other currencies, thus reducing demand. At the MCX, Gold futures for February 2015 contract was trading at Rs 25,899 per 10 gram, down by 0.48 per cent after opening at Rs 25,962, against the previous closing price of Rs 26,024. It touched the intra-day low of Rs 25,880 till the trading. (At 11.40 AM). 

Base Metals

D A I L Y B U Z Z

COPPER 

Copper prices fell by 0.87 per cent on Tuesday at the domestic markets as investors digested the recent key economic data from China and the U.S. to gauge the strength of demand for the metal. Copper is sensitive to the economic growth outlook because of its widespread uses across industries. China and the U.S. are the two biggest consumers of the industrial metal. At the MCX, copper futures for April 2015 contract were trading at Rs.370.80 per 1 kg, down by 0.87 per cent, after opening at Rs. 372.80 against the previous closing price of Rs. 374.05. It touched the intra-day low of Rs. 370.65 till the trading. (At 11.40 AM). 

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DAILY COMMODITY REPORT FOR 23/02/2015

Precious Metals

D A I L Y B U Z Z

GOLD

Gold futures closed higher in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal after minutes from the US Federal Reserve’s latest meet signaled that policymakers are willing to keep interest rates near zero for a longer period as risks such as a stronger dollar and the Greek crisis, overshadow a strong US labour market recovery, bolstering the appeal of the bullion as a store of value. Most policymakers “indicated that their assessment of the balance of risks associated with the timing of the beginning of policy normalization had inclined them toward” keeping rates near zero “for a longer time”, the minutes showed, as the Fed stuck to its pledge of being “patient” over hiking short-term borrowing costs. Further, lingering impasse between Greece and its creditors over a debt compromise raised fears over a Greek default and an exit from the euro, boosting the safe haven demand for the bullion. Reports emerged that Germany has rejected a proposed bailout extension request from Greece which is fast running out of cash. Greece on Tuesday had submitted a six-month loan extension but Germany said that the proposal was not a significant solution and didn’t meet the criteria proposed by the Euro group of finance ministers. Gold may extend gains today after the Fed signaled that it may keep rates at lower levels for longer. At the MCX, Gold futures for April 2015 contract closed at Rs 26,266 per 10 gram, up by 0.49 per cent after opening at Rs 26,245, against the previous closing price of Rs 26,137. It touched the intra-day high of Rs 26,510 till the closing.

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DAILY MCX COMMODITY TIPS REPORT 25 AUG 2014

Base Metals & Energy

D A I L Y B U Z Z

COPPER

Copper prices rose by Rs 1.75 to Rs 426.55 per kg in futures trade today as speculators enlarged positions amid firm global trend and increased domestic demand. 

At the Multi Commodity Exchange, copper for delivery in August traded higher by Rs 1.75, or 0.41 per cent, to Rs 426.55 per kg in a business turnover of 310 lots. 

Similarly, the metal for delivery in November rose by Rs 1.45, or 0.33 per cent, to Rs 434.80 per kg in 65 lots. 

ZINC

Zinc futures edged up by 0.21 per cent to Rs 143.10 per kg today as speculators enlarged positions 

amid positive cues from global markets and rising domestic demand. 

At the Multi Commodity Exchange, zinc for delivery in September was up by 30 paise, or 0.21 per cent, to Rs 143.10 per kg with a business turnover of nine lots. 

The metal for delivery in August also rose by 25 paise, or 0.18 per cent, to Rs 142.85 per kg with a business turnover of 118 lots. 

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RESEARCH VIA DAILY COMMODITY REPORT 14 MARCH 2014

Base Metals & Energy

D A I L Y B U Z Z

ZINC
Supported by a firming trend overseas and firm demand at spot markets, zinc futures edged up by 0.29 per cent to Rs 122.70 per kg today amid a firm global trend.

Globally, zinc for delivery in three months on the London Metal Exchange added as much as 1.1
per cent to $2,008.50 per tonne.

At the Multi Commodity Exchange, zinc for delivery in April traded up by 35 paise, or 0.29 per cent, to Rs 122.70 per kg, with a business turnover of 20 lots. The metal for delivery in March also rose by 30 paise, or 0.25 per cent, to Rs 121.65 per kg, with a business turnover of 474 lots.

CRUDE OIL
Crude oil futures recovered by 0.12 per cent to rs 5,990 per barrel today as speculators created fresh positions on a firming trend in the asian region.

At the Multi Commodity Exchange, crude oil prices for delivery in March traded higher by Rs 7, or 0.12 per cent, at Rs 5,990 per barrel, with a business turnover of 979 lots.

Crude oil prices for April also traded up by Rs 3, or 0.05 per cent, to Rs 6,005 per barrel, with a business volume of 198 lots.

Agro Outlook

D A I L Y B U Z Z

TURMERIC
Turmeric prices fell by 1.51 per cent to Rs 6,908 per quintal in futures trade today as speculators reduced positions due to sluggish demand in the spot market against adequate supplies from producing belts.

At the National Commodity and Derivatives Exchange, turmeric for delivery in May fell by Rs 106, or 1.51 per cent, to Rs 6,908 per quintal with an open interest of 6,085 lots. Similarly, the spice for delivery in April traded lower by Rs 98, or 1.42 per cent, to Rs 6,824 per quintal in 19,180 lots.

Analysts said offloading of positions by speculators on the back of sluggish demand in the spot market against adequate supplies from producing regions mainly pulled down turmeric prices at futures trade. 

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MCX COMMODITY PRECIOUS METALS GOLD TIPS & SILVER UPDATE 24 FEB 2014

GOLD

Gold prices moved down by 0.10 per cent to Rs 29,851 per 10 grams in futures trade today as speculators trimmed positions amid a weak trend in the global markets.

At the Multi Commodity Exchange, gold for delivery in April eased by Rs 31, or 0.10 per cent, to Rs 29,851 per 10 grams in business turnover of 422 lots. 

Likewise, the metal for delivery in far-month June shed Rs 20, or 0.07 per cent, to Rs 29,348 per 10 grams in four lots. Globally, gold fell 0.5 per cent to $1,316.52 an ounce in Singapore today.

SILVER

Silver prices fell by 0.32 per cent to Rs 47,333 per kg in futures trade today as speculators indulged in reducing exposures on weak cues from global markets.

At the Multi Commodity Exchange, Silver for delivery in March traded lower by Rs 151, or 0.32 per cent, to Rs 47,333 per kg in business turnover of 720 lots. 

Similarly, the white metal for delivery in May declined by Rs 133, or 0.27 per cent, to Rs 48,285 per kg in business volume of 76 lots. 

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DAILY MCX COMMODITY REPORT FOR 13 FEB 2014

Precious Metals
                                                           D A I L Y B U Z Z

GOLD
Amid a weak trend overseas and profit-booking by speculators, gold prices fell 0.26 per cent to
Rs 29,028 per 10 grams in futures trade today.

At the Multi Commodity Exchange, gold for delivery in April eased by Rs 76, or 0.26 per cent, to
Rs 29,028 per 10 gm in business turnover of 176 lots.

Likewise, the metal for delivery in far-month June shed Rs 48, or 0.17 per cent, to Rs 28,707 per 10 gm in 13 lots. Analysts said besides profit-booking by speculators, a weak trend in the overseas markets as a five-day advance damped physical demand and US Federal Reserve Chairman pledged to continue with a gradual tapering of stimulus, mainly put pressure on gold prices at futures trade here.


Globally, gold fell 0.50 per cent to $1,284.98 an ounce in Singapore today.

Agro Outlook
                                                    D A I L Y B U Z Z
CHANA
Chana prices rose 0.62 per cent to Rs 2,931 per quintal in futures trading today as speculators enlarged positions, supported by pick up in demand in the spot market.

At the National Commodity and Derivative Exchange, chana for delivery in February rose by Rs 18, or 0.62 per cent to Rs 2,931 per quintal with an open interest of 24,210 lots.

Similarly, the commodity for delivery in March edged up by Rs 4, or 0.13 per cent to Rs 3,042 per quintal in 94,040 lots.

MENTHA OIL
Amid strong demand from consuming industries and lower arrivals from producing regions, mentha oil prices rose 0.51 per cent to Rs 792.90 per kg in futures trading today as speculators enlarged positions.

At the Multi Commodity Exchange, mentha oil for delivery in February moved up by Rs 4, or 0.51 per cent to Rs 792.90 per kg in business turnover of 260 lots.

Similarly, the oil for delivery in March gained Rs 2.80, or 0.35 per cent to Rs 802 per kg in 76 lots. 

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