Precious Metals
DAILY BUZZ
GOLD
Gold futures prices rose
0.23 per cent to Rs 27,720 per 10 grams today as speculators engaged
in enlarging their positions after precious metal rose to two-month
high in global markets.
At the Multi Commodity
Exchange gold for delivery in far-month October rose by Rs 63, or
0.23 per cent, to Rs 27,720 per 10 grams with a business turnover of
9 lots.
In a similar fashion, the
metal for delivery in August contracts moved up by Rs 39, or 0.14 per
cent, to Rs 27,650 per 10 grams with a trade volume of 629 lots.
Market analysts said the
rise in gold futures was mainly in line with a firming trend in
overseas markets as expectations that borrowing costs in the US will
remain low, fueled demand for bullion as an alternative investment.
Meanwhile, gold climbed to
USD 1,322.12 an ounce in Singapore, the highest level since April 15,
after a 3.3 per cent jump yesterday that was the biggest increase
since September last year.
Base Metals & Energy
DAILY BUZZ
ZINC
Tracking a firm global
trend, zinc prices were higher by 0.77 per cent to Rs 130.40 per kg
in futures trade today as speculators created positions.
Besides, increased demand
from consuming industries in the spot market supported the uptrend.
At the Multi Commodity
Exchange, zinc for delivery in June rose by Re 1, or 0.77 per cent to
Rs 130.40 per kg in business turnover of 1,857 lots.
In a similar fashion, the
metal for delivery in July contracts traded higher by the same margin
to 131.10 per kg in 231 lots.
Globally, zinc for delivery
in three months climbed 0.9 per cent to USD 2,173 a metric tonne, the
highest since February 2013 on the London Metal Exchange (LME).
Meanwhile, stockpiles
tracked by the LME have dropped 28 per cent this year to the lowest
since December 2010.
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MCX SILVERM June contract was trading at Rs 44475 down Rs 107, or 0.24 percent. The SILVERM rate touched an intraday high of Rs 44609 and an intraday low of Rs 44295.
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