COMMODITY UPDATES
GOLD
Gold futures slide in the domestic market on Monday exited positions in the precious metal tracking a weak trend in the overseas market as a powerful dollar restrain the desire for the bullion as an alternative asset. Stronger greenback makes Gold more costly for those holding other currencies, thus lower in desire. Holdings in gold-backed exchange traded products fell to a six-year low-laying on Friday, signaling weak investment demand for the bullion. MCX, Gold futures for February 2015 contract is trading at Rs 27,024 per 10 gram, downward by 0.18 percent after opening at Rs 27,031, against the last ending price of Rs 27,073. It touched the intraday low of Rs 27,010 till the ending. (At 11:00 AM).
NATURAL GAS
Natural Gas Futures closed with little gains in the domestic market on Friday as the spiky losses in the energy commodity witnessed in the last session offered investors a good bargain buying chance at existing levels. Forecasts for lenient weather in the US that may curb heating desire for the fuel trimmed profit gains in Natural Gas. The Commodity Weather Group LLC envision mainly above average temperatures in the eastern half of the US through December 30, 2014. MCX, Natural Gas futures for December 2014 contract ended at Rs 191.9 per 1 kg, up by 0.10 per cent after opening at Rs 194.7, against the preceding ending price of Rs 191.7. It touched the intra-day max of Rs 195.4 till the ending.
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