TODAY's MCX REPORT FROM RESEARCH VIA

Precious Metals

DAILY BUZZ

GOLD

Gold futures prices today moved down by 0.84 per cent to Rs 29,730 per 10 grams, after participants offloaded partial positions, taking weak cues from the global market.

At the Multi Commodity Exchange, gold for delivery in April eased by Rs 251, or 0.84 percent, to Rs 29,730 per 10 gm in business turnover of 6,400 lots.

Likewise, the metal for delivery in far-month June shed Rs 211, or 0.72 per cent, to Rs 29,212 per 10 gm in 573 lots. Market analysts said a weak trend in the overseas markets after the US Federal Reserve hinted that it will raise interest rates sooner-than-expected and a subdued demand at domestic market, put pressure on gold futures here.

Globally, gold fell 0.29 per cent to $1,326.70 an ounce in London today.

Base Metals & Energy

DAILY BUZZ

CRUDE OIL

Crude oil futures declined by 0.72 per cent to Rs 6,041 per barrel today in line with a weak trend in Asian trade.

At the Multi Commodity Exchange, crude oil for delivery in April shed Rs 44, or 0.72 percent, to Rs 6,041 per barrel, with a business volume of 2,479 lots.

Oil prices for May delivery moved down by Rs 40, or 0.66 per cent to Rs 6,025 per barrel, with a business volume of 112 lots. Marketmen said the fall in crude oil futures prices was mostly in line with a weakening trend in Asia owing to a stronger dollar after the head of the US Federal Reserve hinted at an interest rates rise early next year, but losses were tempered by lingering concerns about the Crimea crisis.

Meanwhile, West Texas Intermediate crude oil for delivery in May was down by 33 cents, to USD 98.57 a barrel on the New York Mercantile Exchange.

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