DAILY COMMODITY REPORT
Precious Metals G
D A I L Y
B U Z Z
Gold prices plunged to over ten months low by losing Rs 505 to Rs 29,470 per ten gram in the national capital today on frantic selling by stockists amid restricted buying, driven by a steep fall in overseas markets. The current fall in gold drove down the prices to a level last seen on May 30 last year as the metal tumbled in New York by $ 25.70 to $ 1559.30 an ounce on fears the US Federal Reserve might scale back stimulus. Tracking the general weakening trend, silver dropped by Rs 875 to Rs 52,275 per kg on restricted buying by industrial units and coin makers. MCX Gold suffered the second biggest fall this month after losing Rs 500 on April 3. On the domestic front, gold of 99.9 and 99.5 per cent purity tumbled by Rs 505 each to Rs 29,470 and Rs 29,270 per ten grams, respectively. However, sovereign held steady at Rs 25,100 per piece of eight gram in restricted buying. In a similar fashion, MCX silver dropped by Rs 875 to Rs 52,275 per kg and weekly-based delivery by Rs 885 to Rs 51,375 per kg. Silver coins also nosedived by Rs 2,000 to Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.
Base Metals & Energy COPPER
D A I L Y
B U Z Z
Lead futures prices today rose by 0.26 per cent to Rs 113.95 per kg as speculators enlarged their positions triggered by a firming trend overseas and rising spot demand. At the Multi Commodity Exchange, lead for delivery in April traded 30 paise, or 0.26 per cent higher at Rs 113.95 per kg, with a turnover of 5,541 lots. The metal for delivery in May also rose by 25 paise, or 0.22 per cent, to trade at Rs 114.80 per kg, in a business turnover of 118 lots. At the London Metal Exchange (LME), lead gained 0.20 per cent to $ 2,094 per tonne. Copper prices slipped on Thursday as concerns about the outlook for demand and global oversupply weighed on sentiment although some optimism about China's economic revival helped cushion falls. Three-month copper on the London Metal Exchange traded at $7,544.50 in official rings, down from Wednesday's close at $7,575. Prices hit a two-week high of $7,645.25 this week, rebounding from 8-month lows at the start of April, but traders said they are selling into rallies.
The metal used in power and construction is down by almost 5 percent this year. PAGE 2
Agro Outlook DHANIYA
D A I L Y
B U Z Z
Cardamom prices drifted by Rs 5 to Rs 844.50 per kg in futures trade today on adequate stocks on increased arrivals from producing regions against subdued demand in the spot market. At the Multi Commodity Exchange, cardamom for delivery in April weakened by Rs 5, or 0.59 per cent to Rs 844.50 per kg in business turnover of 160 lots. Similarly, the spice for delivery in May traded lower by Rs 3.50, or 0.40 per cent to Rs 871 per kg in 579 lots. Jeera prices rose by Rs 42.50 to Rs 13,820 per quintal in futures market today after participants built up fresh speculative positions on the back of export demand. However, expectations of higher production and supplies from new season crop, limited the gains. At the National Commodity and Derivatives Exchange, jeera for delivery in May rose by Rs 42.50, or 0.31 per cent to Rs 13,820 per quintal with an open interest of 14,085 lots. Likewise, the spice for delivery in June gained Rs 37.50, or 0.27 per cent to Rs 14,025 per quintal in 5,181 lots.
Market Statistics M ETALS & ENERGY COMMODITY
SOYA REF OIL
Published on Apr 12, 2013
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