COMMODITY TIPS FOR 16 FEBRUARY 2015

Commodity Gold Tips

Gold prices increased by 0.63 % on Friday at the domestic markets as investors eyed desired from the upcoming Chinese New Year holidays next week. Further, weaker than expected U.S. retail sales and jobless claims data dampened optimism over the strength of the economic regaining. The U.S. Commerce Department said that retail sales decreased by 0.8 % last month, worse than expectations for a fall of 0.5 %. The disappointing data scaled back expectations that the Federal Reserve will start raising rates from near zero levels as early as June. Gold futures for April 2015 contract, at MCX, were trading at Rs. 26,686/10 grams, up ward by 0.63 % after opening at Rs. 26,606 against the last day of closing price of Rs. 26,519. It touched the intra-day max of Rs. 26,695 till the trading.

Commodity silver tips

Silver prices went upward by a whopping Rs 285 to Rs 37,510/kg in futures trade today after participants built-up speculative positions, largely driven by a firming trend overseas. At the Multi Commodity Exchange, silver for delivery in March shot upward by Rs 285, or 0.77 %, to Rs 37,510 per kg in a business turnover of 859 lots. Similarly, the white metal for delivery in May increased by Rs 281, or 0.75 %, to Rs 37,746 per kg in 27 lots. Market analysts attributed the rise in silver prices at futures trade to a firming trend in the global markets as falling retail sales in the US cast doubt on the pace of growth in the world's biggest economy, boosting desired for a safe haven.