TODAY'S MCX REPORT FROM RESEARCH VIA

Precious Metals
 

DAILY BUZZ

GOLD
 

Gold held onto gains on Monday following its biggest one-day jump in over three weeks as investor worries about an early US interest rate hike eased when the nonfarm payrolls report failed to meet market expectations.

Data on Friday showed that US non-farm payrolls increased by 192,000 jobs last month, slightly below economists' estimate of 200,000.

Markets feared that a strong jobs report, which followed a recent string of good economic data, could prompt a tightening of US monetary policy after Federal Reserve Chair Janet Yellen indicated last month that interest rates could rise in the first half of 2015.

Low interest rates, which cut the opportunity cost of holding non-yielding bullion above other assets, had been an important factor driving bullion higher in recent years. Spot gold was steady at $1,302.36 an ounce by 0349 GMT, after gaining 1.2 percent on Friday - its biggest percentage increase since March 12. The metal wasn't too far from a one-week high of $1,306.50 hit in the previous session.

 

Base Metals & Energy

DAILY BUZZ

LEAD

Lead futures prices today rose by 0.20 per cent, to Rs 123.60 per kg after speculators enlarged positions amid rising spot demand.

However, metal's weakness at the London Metal Exchange (LME) also, limited the gains.

At the Multi Commodity Exchange, lead for delivery in April traded 25 paise, or 0.20 per cent, higher at Rs 123.60 per kg, with a turnover of 681 lots.

The metal for delivery in May also rose by 10 paise, or 0.08 per cent, to trade at Rs 124.65 per kg, in a business turnover of 19 lots.

NICKEL

Nickel prices moved up by 0.28 per cent to Rs 986.80 per kg in futures market today as speculators enlarged their positions, tracking a firming trend in spot market on increased demand from alloy-makers even as metal weakened overseas.
 

At the Multi Commodity Exchange, nickel for delivery in April gained Rs 2.80, or 0.28 per cent, to Rs 986.80 per kg in business turnover of 1,616 lots. Similarly, the metal for delivery in May rose by Rs 2.70, or 0.27 per cent, to Rs 993.30 per kg in 58 lots. 

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