Precious Metals
Gold futures fell in the domestic market on Friday as investors and speculators exited positions in the precious metal tracking a weak trend in the overseas market as robust US economic data raised fears of sooner than excepted interest rate hike in the US, dimming the appeal of the bullion as a store of value. US retail sales climbed 0.7 per cent in November over the previous month while jobless claims fell by 3,000 to 294,000 in the week ended December 6, 2014, signaling a pickup in the world’s biggest economy. Caution persisted ahead of US consumer sentiment data due today which may show a rise in sentiment in November. Gold futures for February 2015 contract, at MCX, is trading at Rs. 27,139 per 10 grams, down by 0.44 per cent, after opening at Rs. 27,265, against the previous closing price of Rs 27,258. It touched an intra- day low of Rs 27,054. (At 11:30 AM).
Base Metals & Energy
COPPER
Copper futures fell in the domestic market on Friday as investors and speculators exited positions in the industrial metal after China’s industrial output grew at a weaker pace in November, signaling a deepening economic slowdown in the world’s biggest metals consumer, clouding the demand outlook for copper. Factory output grew 7.2 per cent, year on year in November 2014, the lowest pace of growth in three months, and missing the 7.5 per cent gain estimated by analysts. At the MCX, copper futures for February 2015 contract is trading at Rs. 408.15 per 1 kg, down by 0.12 per cent, after opening at Rs. 409.15, against the previous closing price of Rs. 408.65. It touched an intra-day low of Rs. 407.95. (At 11:33 AM).
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 December 2014 contract, is trading at Rs 124.25 per kg, up by 0.24 per cent, after opening at Rs 124.20, against a previous close of Rs 123.95. It touched an intra-day high of Rs 124.50 till the trading. (At 3.59 PM today).
The London Metal Exchange (LME) lead stocks remained unchanged at 220200 metric tonnes
as on December 12, 2014.
Agro Outlook
CARDAMOM
Cardamom prices fell by 0.38 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 January 2015 contract were trading at Rs. 868.10 per kg, down by 0.38 per cent, after opening at Rs. 868.10 against the previous closing price of Rs. 867. It touched the intra-day low of Rs. 862.70 till the trading. (At 10.40 AM today).
CASTOR SEED
Castorseed prices rose by 0.36 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. 4,691 per quintal tonnes, up by 0.36 per cent, after opening at Rs. 4,685 against the previous closing price of Rs. 4,674. It touched the intra-day high of Rs. 4,760 till the trading. (At 12.25 PM today).
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