Commodity Market News-22 Jan 2015

MCX GOLD February contract was trading at Rs 27980 up Rs 3, or 0.01 percent. The GOLD rate touched an intraday high of Rs 28010 and an intraday low of Rs 27921.

MCX SILVER March contract was trading at Rs 39848 down Rs 75, or 0.19 percent. The SILVER rate touched an intraday high of Rs 39949 and an intraday low of Rs 39768.

Oil prices dipped early on Thursday ahead of the expected announcement of a bond-buying programme by the European Central Bank (ECB) later in the day that could push the dollar to new highs and put downward pressure on commodities.

NCDEX Chana Feb. futures traded on the positive note yesterday and closed 0.41 % up due to good buying support on lower prices. There is an expectation of new crop arrivals in less than a month’s time. Overall sentiments look mixed for Chana amid expected lower output and duty-free export allowed till Mar 2015.

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Commodity Market News-21 Jan 2015

Silver Prices spurted by Rs 517 to trade above the Rs 40,000 per kg after a gap of four months in futures trade today as traders created speculative positions, largely driven by a firming trend overseas.

Gold Prices rose by Rs 90 to Rs 28,277 per ten grams in futures trade today as participants engaged in enlarging positions largely in tune with a firming trend overseas.

Chana Prices moved down by 0.93% to Rs 3,392 per quintal in futures trade today as speculators booked profits at prevailing higher levels.

Zinc futures declined 0.31% to Rs 129.85 per kg today as participants reduced positions even as metal strengthened at the London Metal Exchange (LME).

Mentha Oil Prices were up by 0.76% to Rs 740.60 per kg in futures trade today as speculators indulged in creating fresh positions, driven by pick-up in demand in the spot market.

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Commodity Market News-20 Jan 2015

Gold on Monday traded at the biggest premium to platinum since April 2013. Bullion was near a four-month high, amid demand for a haven.

Zinc Prices rose by 0.70% to Rs 128.90 per kg in futures trading today as speculators enlarged positions.

Oil Prices edged lower in Asia today as a rally late last week fizzled out owing to lingering concerns about weak demand and a global supply glut, analysts said.

Cardamom Prices fell by 1.02% to Rs 1,063 per kg in futures trade today as speculators booked profits at existing higher levels amid sluggish demand in the spot market.

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Commodity Market News-19 Jan 2015

Gold prices surged ahead to its highest level in four-month at the bullion market here powered by robust uptick from stockists and investors as well as good seasonal demand.

Silver staged a strong come back following frantic speculative buyout coupled with industrial offtake and finished above the key important Rs 39,000-mark.

Copper prices fell by 0.45% to Rs 361.45 per kg in futures trade today.

Oil prices edged lower in Asia today as a rally late last week fizzled out owing to lingering concerns about weak demand and a global supply glut, analysts said.

Nickel futures prices today dropped by Rs 7.70 to Rs 908.80 per kg as speculators locked in gains amid a weak trend overseas.

Zinc prices drifted by 0.39% to Rs 129.30 per kg in futures trade today as speculators trimmed positions following easing of demand in the spot markets.

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Commodity Market News-15 Jan 2015

Gold erased its earlier decline and gained smartly towards mid-European trade after the Swiss National Bank cut the interest rate to minus 0.75 per cent and scrapped its minimum exchange rate of 1.20 Swiss francs to a euro, which boosted fundamental sentiment towards the yellow metal.

Oil Prices rebounded in Asia today after plunging in the previous session in reaction to news that the OPEC cartel had overproduced in December, while it also cut its global demand outlook.

Zinc futures prices today edged up by 0.55% to Rs 127.50 per kg today as participants created speculative positions, amid a firm global trend and better domestic demand.

Nickel Prices moved up by 0.56% to Rs 896.40 per kg in futures trading today on speculators creating fresh positions.

Copper futures rose by 0.64% to Rs 354.45 per kg today after participants built-up positions, tracking a firming trend in base metals at the London Metal Exchange (LME).

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Commodity Market News-14 Jan 2015

Silver prices plunged by Rs 496 to Rs 37,662 per kg in futures trade today as speculators reduced their exposures.

Gold prices moved down by 0.35% to Rs 26,960 per 10 gram in futures trade today as participants offloaded positions partially, taking weak cues from the global market.

Crude Palm Oil prices fell 1.15% to Rs 461.50 per kg in futures trade today, tracking a weak trend in domestic as well as overseas markets.

Cardamom prices today rose by 1.21% to Rs 1,095.70 per kg in futures market as participants created speculative positions, supported by rise in demand in the spot markets.

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Commodity Market News-13 Jan 2015

Silver prices jumped by Rs 453 to Rs 37,424 per kg in futures trading today as speculators indulged in creating fresh positions.

Nickel prices fell by 0.63% to Rs 940.50 per kg in futures trade today as speculators indulged in offloading positions after the metal declined in global markets.

Jeera prices spurted by another Rs 910, or 5.97% to Rs 16,140 per quintal in futures trade today as speculators indulged in creating fresh positions amidst lower output reports.

Oil continued their rout on Tuesday with Brent crude and US WTI both falling to their lowest in almost six years, as a persistent global supply glut offset data showing record high imports by key consumer China.

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