Precious Metals
DAILY BUZZ
Snapping its two-day losing streak, gold rebounded by Rs 255 to Rs 30,755 per ten grams in the national capital today on low level buying by stockists and retailers for the ongoing marriage season.
However, silver remained under selling pressure for the sixth straight session and shed Rs 30 to Rs 43,470 per kg. It had lost Rs 1,575 in the previous five sessions.
Traders said low level buying by stockists and retailers for the ongoing marriage season led the recovery in gold .
They said silver remained under selling pressure against reduced offtake by industrial units and surrendered fresh ground.
On the domestic front, gold of 99.9 and 99.5 per cent purity rebounded by Rs 255 each to Rs 30,755 and Rs 30,555 per ten grams, respectively. It had lost Rs 750 in last two days.
Sovereign rose by Rs 100 to Rs 25,200 per piece of eight gram.
On the other hand, silver ready continued to slide by Rs 30 to Rs 43,470 per kg and weekly- based delivery b.
Base Metals & Energy
Taking weak cues from global markets, aluminium prices fell to Rs 106.75 per kg in futures trading today as speculators offloaded positions.
Further, sluggish demand in the domestic spot markets also weighed on the metal prices.
At the Multi Commodity Exchange, aluminium for delivery in December declined by 55 paise, or 0.51 percent, to Rs 106.75 per kg in business turnover of 153 lots. Similarly, the metal for delivery in January 2014 contracts traded lower by 50 paise, or 0.46 per cent, to Rs 108.50 per kg in 13 lots.
Amid a weak trend in the global markets and sluggish domestic demand, zinc futures today fell 0.21 per cent to Rs 116.75 per kg as participants reduced their positions.
At the Multi Commodity Exchange, zinc for delivery in January traded lower by 25 paise, or 0.21 per cent, to Rs 116.75 per kg, with a business turnover of six lots.
The metal for delivery in current month fell by 20 paise, or 0.17 per cent, to Rs 115.55 per kg in a turnover of 110 lots.
Nickel prices dropped 0.39 per cent to Rs 850.60 per kg in futures trade today after participants trimmed holdings tracking a weak trend overseas amid sluggish demand from alloy-makers in the spot market. At the Multi Commodity Exchange, nickel for delivery in January next year dropped by Rs 3.30, or 0.39 per cent, to Rs 850.60 per kg in a business turnover of 19 lots. The metal for delivery in current month shed Rs 2.70, or 0.32 per cent, to Rs 842 per kg in 48 lots.
Commodity Tips For Today
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