Precious Metals
GOLD
Gold futures were trading little changed in the domestic market on Friday as investors and speculators stayed cautious over booking fresh positions in the precious metal amid speculation that the US Federal Reserve is on track to raise interest rates for the first time since 2006 next year, dimming the appeal of the bullion as a store of value. Fewer American filed unemployment benefit claims last week, a leading indicator rose more than forecast while a regional manufacturing gauge surged this month and existing home sales climbed in October, adding to US economic optimism, reducing case for ultra-easy money policy by the Fed. Gold futures for December 2014 contract, at MCX, is trading at Rs. 26,484 per 10 grams, up by 0.08 per cent, after opening at Rs. 26,483, against the previous closing price of Rs 26,463. It touched an intra-day high of Rs 26,539. (At 11:30 AM).
Base Metals & Energy
LEAD
Lead prices rose by 0.24 per cent on Friday at the domestic markets as a result of high demand for the commodity from battery-maker in the spot market in the midst of strong overseas trend. At the MCX, Lead futures, for the November 2014 contract, is trading at Rs 125.25 per kg, up by 0.24 per cent, after opening at Rs 125.70, against a previous close of Rs 125.95. It touched an intra-day high of Rs 126.45 till the trading. (At 3.15 PM ) Sentiment improved further due to the decline in the lead stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME lead stocks fell by 100 metric tonnes to 217025 metric tonnes as on November 21, 2014.
ZINC
Zinc prices rose by 0.94 per cent on Friday at the domestic markets due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 2000 metric tonnes to 676225 metric tonnes as on November 21, 2014. Zinc futures for November 2014 contract, at MCX, were trading at Rs 140.30 per kg, up by 0.94 per cent after opening at Rs. 139.50 against the previous closing price of Rs. 139. It touched the intra-day high of Rs. 140.55 till the trading. (At 3.40 PM today).
Agro Outlook
CARDAMOM
Cardamom prices fell by 0.23 per cent on Friday at the Multi Commodity Exchange (MCX) due to the adequate stocks availability in the physical market on account of higher supply from the producing belts of Chandausi in Uttar Pradesh. At MCX, Cardamom futures for December 2014 contract were trading at Rs. 865 per kg, down by 0.23 per cent, after opening at Rs. 869 against the previous closing price of Rs. 867. It touched the intra-day low of Rs. 863.40 till the trading. (At 10.45 AM today). Sentiment weakened further as the traders booked profits at the prevailing levels in the midst of a subdued demand for the commodity.
CASTOR SEED
Castorseed prices rose by 0.02 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the rise in demand from consuming industries against restricted arrivals in domestic markets which in turn encouraged the investors to enlarge their holdings. At the NCDEX, castor seed futures for December 2014 contract were trading at Rs. 4,829 per quintal tonnes, up by 0.02 per cent, after opening at Rs. 4,823 against the previous closing price of Rs. 4,828. It touched the intra-day high of Rs. 4,847 till the trading. (At 12.15 PM)
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