DAILY MCX GOLD UPDATE FOR 9/SEP/2014

DAILY BUZZ

GOLD

Gold prices were up by 0.27 per cent to Rs 27,614 per 10 gram in futures trade as speculators enlarged positions amid a firming global trend.

At the Multi Commodity Exchange, Gold for delivery in December moved up by Rs 73, or 0.27 per cent, to Rs 27,614 per 10 gram in a business turnover of 43 lots.

In a similar fashion, the metal for delivery in October gained Rs 59, or 0.22 per cent, to Rs 27,437 per 10 gram in 1,036 lots.

Analysts said the rise in gold prices at futures trade was mostly attributed to a firming trend overseas as speculators enlarged positions.

Meanwhile, gold rose 0.2 per cent to USD 1,270.78 an ounce in Singapore. 

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COMMODITY MCX DAILY REPORT 7/JULY/2014

Precious Metals

 

DAILY BUZZ

GOLD

Gold futures rose 0.34 per cent to Rs 27,641 per 10 grams today amid a firming trend in global markets.

At the Multi Commodity Exchange, Gold for delivery in October rose by Rs 95, or 0.34 per cent, to Rs 27,641 per 10 grams with a business turnover of 85 lots.

In a similar fashion, the metal for delivery in August moved up by Rs 90, or 0.32 per cent, to Rs 27,554 per 10 grams with a trade volume of 4,113 lots.

Market analysts said the rise in gold futures was mainly in line with a firming trend in overseas markets after German factory orders fell more than expected, raising demand for the safe-haven.

Meanwhile, gold climbed 0.20 per cent to $1,321.89 an ounce in London.

Base Metals & Energy 

DAILY BUZZ

LEAD

Taking weak cues from the global market and sluggish domestic demand, lead fell by 0.38 per cent to Rs 129.65 per kg in futures trade today as speculators trimmed positions.

At the Multi Commodity exchange, lead for delivery in July down by 50 paise, or 0.38 per cent, to Rs 129.65 per kg in business turnover of 595 lots.

Metal prices for delivery in August also fell by a similar margin to Rs 130.90 per kg in 7 lots.

NICKEL

Nickel prices moved down by 0.62 per cent to Rs 1,180.80 per kg in futures trade today as participants reduced their exposures, tracking a weak trend overseas and sluggish demand from alloy-makers in the spot market.

At the Multi Commodity Exchange, nickel for delivery in August month declined by Rs 7.40, or 0.62 per cent, to Rs 1,180.80 per kg in a turnover of 42 lots.

Similarly, the metal for delivery in July traded lower by Rs 8.60, or 0.56 per cent, to Rs 1,175.20 per kg in 1,517 lots.

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COMMODITY MCX DAILY REPORT 27/JUNE/2014

Precious Metals

DAILY BUZZ

GOLD

Gold prices fell by 0.30 per cent to Rs 27,667 per 10 grams in futures trade today amidst a weak trend overseas and profit-booking by speculators.

At the Multi Commodity Exchange, gold for delivery in August eased by Rs 84, or 0.30 per cent, to Rs 27,667 per 10 grams with a business volume of of 269 lots.

Likewise, the metal for delivery in October was down by Rs 67, or 0.24 per cent, to Rs 27,770 per 10 grams in 7 lots.

SILVER

Silver futures fell 0.52 per cent to Rs 44,419 per kg today as speculators reduced positions on weak cues from global markets.

At the Multi Commodity Exchange, silver for delivery in July eased by Rs 234, or 0.52 per cent, to Rs 44,419 per kg in a business turnover of 464 lots.

Similarly, the white metal for delivery in September lost Rs 227, or 0.50 per cent, to Rs 44,925 per kg in 91 lots. 

Base Metals & Energy 

DAILY BUZZ 

COPPER

Copper futures rose in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal tracking a firm trend in the overseas market as stockpiles monitored by exchanges in London, Shanghai and New York fell to the lowest level since October 2008, dropping for a tenth straight session, signaling shrinking supplies of the refined metal. A weaker dollar boosted the demand for the industrial metal as an alternative asset. Weaker greenback makes copper cheaper for those holding other currencies, thus dimming demand. At the MCX, copper futures for June 2014 contract is trading at Rs. 421.80 per 1 kg, up by 0.38 per cent, after opening at Rs. 420.50, against the previous closing price of Rs. 420.20. It touched an intra-day low of Rs. 421.95.

CRUDE OIL

Crude oil futures rose in the domestic market on Thursday as investors and speculators booked fresh positions in the energy commodity amid concerns that deepening unrest in northern Iraq may crimp crude supplies from the OPEC’s second biggest crude producer. Investors are eying the US jobless claims and consumer spending data to be released today which may show strength in the world’s biggest economy, lifting the demand outlook for the fuel. US jobless likely fell last week while consumer spending rose in May. At the MCX, Crude Oil futures, for the July 2014 contract, is trading at Rs 6,443 per barrel, up by 0.23 per cent, after opening at Rs 6,438, against a previous close of Rs 6,428. It touched an intra-day high of Rs 6,450.

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COMMODITY MARKET DAILY UPDATE AND REPORT 23/june/2014

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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DAILY COMMODITY MCX REPORT FOR 20/june/2014

Precious Metals

DAILY BUZZ

GOLD

Gold futures were trading higher in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market after the US Federal Reserve said that it is likely to keep interest rates at very low levels for a lengthy period even after QE ends, bolstering the appeal of the bullion as a store of value. Gold futures for August 2014 contract, at MCX, is trading at Rs. 26,885 per 10 grams, up by 0.22 per cent, after opening at Rs. 26,827, against the previous closing price of Rs 26,826. It touched an intra-day high of Rs 26,888.

SILVER

Silver futures closed higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal after the US Federal Reserve maintained its key benchmark interest rate unchanged near zero, boosting the demand for the precious metal as an alternative asset.

At the MCX, Silver futures, for the July 2014 contract, closed at Rs. 42,685 per kg, up by 0.14 per cent, after opening at Rs. 42,461, against the previous closing price of Rs 42,627. It touched an intra-day high of Rs 42,850.

Base Metals & Energy 

 DAILY BUZZ

COPPER

Amidst a weak trend in the global market and subdued spot demand copper prices fell 0.61 per cent to Rs 404.90 per kg in futures trade today.

At the Multi Commodity Exchange, copper for delivery in June shed Rs 2.50, or 0.61 per cent, to Rs 404.90 per kg business turnover of 2,910 lots.

Similarly, the metal for delivery in August traded lower by Rs 2.15, or 0.52 per cent, to Rs 408.90 per kg in 278 lots. Globally, copper for delivery in three months fell 0.3 per cent, to USD 6,691.50 a tonne on the London Metal Exchange while in Shanghai, metal for delivery in August declined 0.4 per cent to 47,950 yuan (USD 7,701) a tonne.

LEAD

Tracking a weak trend overseas and sluggish domestic demand, lead fell 0.75 per cent to Rs 125.40 per kg in futures trade today after participants reduced their exposures.

At the Multi Commodity exchange, lead for delivery in June shed 95 paise, or 0.75 per cent, to Rs 125.40 per kg in business turnover of 325 lots. 

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TODAY'S MCX PRECIOUS AND BASE METALS REPORT 18/6/2014

Precious Metals

DAILY BUZZ

GOLD

Gold futures prices today fell by 0.23 per cent to Rs 26,834 per 10 grams as speculators offloaded their positions to book profits amid a weak global trend.

At the Multi Commodity Exchange, gold prices for delivery in far-month October fell Rs 61, or 0.23 per cent, to Rs 26,834 per 10 grams in business turnover of seven lots.

Similarly, metal prices for delivery in August declined by Rs 55, or 0.20 per cent, to Rs 26,776 per ten grams in 181 lots.

SILVER

Silver prices declined 0.28 per cent to Rs 42,085 per kg in futures trade today as speculators booked profits amid a weak trend in the global markets.

At the Multi Commodity Exchange, Silver prices for delivery in July traded lower by Rs 119, or 0.28 per cent, to Rs 42,085 per kg in business turnover of 341 lots.

Similarly, the white metal prices for delivery in September declined by Rs 93, or 0.22 per cent, to Rs 42,325 per kg in business volume of 12 lots. In the international market, silver prices traded 0.40 per cent lower at USD 19.58 an ounce in Singapore.  

Base Metals & Energy 

DAILY BUZZ

ZINC

Zinc futures prices today edged up by 0.36 per cent to Rs 126.70 per kg today as speculators enlarged positions, amidst a firm global trend and better domestic demand.

At the Multi Commodity Exchange, zinc for delivery in June increased by 45 paise, or 0.36 per cent, to Rs 126.70 per kg, with a business turnover of 302 lots.

Likewise, the metal for delivery in July traded higher by 45 paise, or 0.35 per cent, to Rs 127.45.

Traders said besides improved demand in domestic spot market, a firming trend in base metals overseas on speculation that demand will stabilise in China and the US, the world's largest metal consumers, supported the upside in zinc futures here. 

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TODAY'S MCX REPORT 12/june/2014

Precious Metals

DAILY BUZZ

GOLD

Gold prices remained steady in the spot and futures markets on Wednesday. At midday, the August contract for gold was trading with a marginal rise of 0.10% at Rs 26,163 per 10 gm on MCX, and 1,566 contracts had been traded since morning. The metal touched an intraday high of Rs 26,199 and a low of Rs 26,165.

Analysts say the outlook remains negative for the yellow metal. "Gold is likely to remain rangebound for the time being if rupee does not weaken," an analyst said.

In the global markets, gold for immediate delivery became dearer by 0.2% at $1,262.69 an ounce before trading at $1,261.09 by 2:07 pm in Singapore. The metal prices on Tuesday rose to $1,263.66, the highest level since May 28, according to Bloomberg generic pricing.

In China, the world's biggest bullion consumer, volumes for the benchmark spot contract in Shanghai rose for the second day on Tuesday to a two-week high of 12,914 kg, climbing from a two-month low of 8,568 kg on June 6. Data this week may show retail sales in the United States rose in May. US employment exceeded its pre-recession peak, according to a June 7 report. Gold for August delivery traded at $1,260.90 an ounce on the Comex in New York from $1,260.10 on Tuesday, according to agency reports. 

Base Metals & Energy

DAILY BUZZ

COPPER

Copper prices moved up by 0.19 per cent to Rs 401.60 per kg in futures trade today as speculators created fresh positions on firm global cues.

At the Multi Commodity Exchange, Copper for delivery in June traded higher by 75 paise, or 0.19 per cent, to Rs 401.60 per kg in a turnover of 690 lots.

Likewise, the metal for delivery in August edged up by 60 paise, or 0.15 per cent, to Rs 404.80 per kg in 33 lots.

CRUDE OIL

Crude oil futures rose 0.50 per cent to Rs 6,201 per barrel today as speculators created positions amid a firm trend in Asian markets.

At the Multi Commodity Exchange, Crude oil for delivery in June gained Rs 31, or 0.50 per cent, to Rs 6,201 per barrel, with a business turnover of 775 lots.

The oil for July delivery moved up by Rs 30, or 0.49 per cent, to Rs 6,179 per barrel, with a business volume of 52 lots. 

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TODAY'S MCX REPORT 10/june/2014

Precious Metals

DAILY BUZZ

GOLD

Gold fell below Rs 26,000 per 10 gms on the futures market Monday to touch a low of Rs 25,811 for the August contract. The metal was trading at Rs 25,883 per 10 gms on the MCX midday after climbing down from an intraday high of Rs 25,930.

On the spot market, gold was trading at Rs 26,700 per 10 gms. "Prices will fall further as we are expecting the government to reduce import duty shortly," said Kapil Parekh, executive director at the Indian Bullion & Jewellers Association. "The rupee too is expected to strengthen further, which will further bring down prices."

In the international market, gold held above the lowest level in four months on speculation that recent declines may spur purchases. Gold for immediate delivery traded at $1,253.68 an ounce In Singapore compared with $1,253.23 on Friday, according to Bloomberg generic pricing. The metal on June 3 dropped to $1,240.73, the lowest since January 31, as signs of a US economic recovery drove the Standard & Poor's 500 Index to a record and fuelled gains in the dollar. In China, the world's largest bullion consumer, volumes for the benchmark spot contract in Shanghai fell to 8,568 kilograms on June 6, the least since April 4. The nation's exports rose more than analysts estimated in May while imports unexpectedly slumped, latest data showed. Gold for August delivery traded at $1,254.20 an ounce on the Comex in New York, from $1,252.50 on June 6. The bullion's 60-day historical volatility was at the lowest since April 2013 .

Base Metals & Energy

DAILY BUZZ

COPPER

Amid a weak trend in the global market and subdued spot demand, copper prices fell marginally by 0.79 per cent to Rs 395.55 per kg in futures trade today as speculators trimmed positions.

At the Multi Commodity Exchange, copper for delivery in June shed Rs 3.25, or 0.79 per cent, to Rs 395.55 per kg in business turnover of 2,089 lots.

Similarly, the metal for delivery in August traded lower by Rs 3.10, or 0.77 per cent, to Rs 399.40 per kg in 139 lots.

ZINC

Zinc futures prices today edged lower by 0.08 per cent to Rs 123.95 per kg on profit-booking by speculators even as metal strengthened overseas.

At the Multi Commodity Exchange, zinc for delivery in June shed 10 paise, or 0.08 per cent, to Rs 123.95 per kg, with a business turnover of 291 lots.

The metal for delivery in July fell by a similar margin to Rs 124.50 per kg in a turnover of three lots.

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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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