Commodity Market Update News 15 May 2013

Gold prices fell by Rs 326 to Rs 26,929 per 10 gm in futures trade today as speculators trimmed their positions, tracking a weak global trend. However, token buying by retailers in the spot markets on The auspicious occasion of "Akshya Tritya" restricted the losses.At the Multi Commodity Exchange, gold for delivery in August fell by Rs 326, or 1.20 per cent, to Rs 26,929 per 10 gm in business turnover of 973 lots. 

Similarly, the yellow metal for delivery in the Junecontract lost Rs 296, or 1.10 per cent, to Rs 26,703 per 10 gm in 22,500 lots.racking a weak global trend, silver prices traded lower by 0.76 per cent to Rs 44,940 per kg in futures trade today as speculators offloaded their positions. At the Multi Commodity Exchange, silver for delivery in July fell by Rs 346, or 0.76 per cent, to Rs 44,940 per kg in business turnover of 17,291 lots. 

Similarly, the white metal for delivery in September contract declined by Rs 335, or 0.73 per cent, to Rs 45,608 per kg in 469 lots.

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Commodity Market Update News 13 May 2013

Gold dropped 2.5 percent to a two-week low on Friday, on track for its biggest one-day drop since mid-April, as a breach of key chart levels prompted heavy selling of U.S. futures, already pressured by a stronger dollar. Traders said sell stops - automatic sale orders placed by traders at pre-set levels to limit losses.

were triggered as the metal broke support at $1,445 and $1,440 an ounce, prompting a sharp move down to session lows at $1,428.40 an ounce. Spot gold fell as low as $1,420.60 an ounce and was down 2.4 percent at $1,422.75 an ounce at 1435 GMT, while U.S. gold futures for June delivery were down 3.2 percent at $1,422.

 The metal plunged to $1,321.35 an ounce on April 16, its lowest in more than two years, after similar stop-sell orders below $1,525 triggered heavy liquidation. The dollar hit a 4-1/2 year high against the yen and was also at a two-week low against a basket of currencies. In other markets, European shares hit five-year highs and U.S. crude fell 2.4 percent.

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TODAY MARKET UPDATE 09/May/2013

                                                            D A I L Y  B U Z Z

Gold prices fell further by Rs 85 to Rs 27,565 per 10 gm in the national capital on Wednesday 
on sluggish demand at current levels amid a weak global trend.

However, silver found scattered buying support from industrial units and recovered by Rs 400 
to Rs 45,700 per kg.

Traders said sluggish demand at current levels and a weak global trend mainly kept pressure on gold prices.

Gold in New York, which normally set price trend on the domestic front, fell by $ 17.70 to $ 
1452.60 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity fell by Rs 85 each to Rs 27,565 and 
Rs 27,365 per 10 gm, respectively. It had lost Rs 220 yesterday. Sovereign also lost Rs 100 at Rs 23,900 per piece of eight gram.

On the other hand, silver ready recovered by Rs 400 to Rs 45,700 per kg and weekly-based 
delivery by Rs 235 to Rs 44,865 per kg. The white metal had lost Rs 900 in the previous
session.

Meanwhile, silver coins lacked necessary buying support and dropped by Rs 1,000 to Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.

Base Metals & Energy
                                                         D A I L Y  B U Z Z

Oil was mixed in Asian trade Wednesday after China recorded a trade surplus, appe aring to 
allay concerns about faltering demand in the world's second largest economy and biggest 
energy user.

New York's main contract, light sweet crude for delivery in June, turned higher in the 
afternoon, gaining six cents to $95.68 a barrel, while Brent North Sea crude for June delivery 
shed 13 cents to $104.27.

China swung back to a trade surplus of $18.2 billion in April after posting a rare deficit the 
previous month, official data showed Wednesday.

April imports increased 16.8 percent year-on-year to $168.9 billion, Customs said, while 
exports rose 14.7 per cent to $187.1 billion. In March, the country had posted a deficit of $880 
million. 

Further short-term gains in oil prices will however be curbed by concerns over burgeoning US 
crude stockpiles, Teoh added. The US Department of Energy releases its weekly inventory 
report later Wednesday. Analysts polled by Dow Jones Newswires projected an increase of 1.4 
million barrels in the week ended May 3.

Agro Outlook
                                                         D A I L Y  B U Z Z

Cardamom prices rose by Rs 2.70 to Rs 758.70 per kg in futures trade on Tuesday as speculators indulged in creating fresh posit ions, supported by a rise in demand in the spot market against restricted arrivals from producing belts.

At the Multi Commodity Exchange, cardamom for delivery in May rose by Rs 2.70, or 0.36 per 
cent, to Rs 758.70 per kg in business turnover of 1147 lots.

In restricted activity, pepper prices gained 0.82 per cent to Rs 36,350 per quintal in futures trading on

Tuesday as speculators created fresh positions driven by restricted supplies from Kerala amid depleting stocks.

At the National Commodity and Derivatives Exchange, pepper for delivery in May spurted by Rs 295, or 0.82 per cent, to Rs 36,350 per quintal with an open interest of 428 lots.

Turmeric fell by Rs 146 to Rs 6,032 per quintal in futures market on Tuesday after participants trimmed their positions weighed by weak exports and increased supplies.

At the National Commodity and Derivatives Exchange, turmeric for the most-active June delivery contracts fell by Rs 146, or 2.36 per cent, to Rs 6,032 per quintal with an open interest of 29,145 lots.

Likewise, the spice for delivery in May shed Rs 92, or 1.52 per cent, to Rs 5,980 per quintal in 2,225 lots.

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DAILY BUZZ MARKET NEWS TOMORROW

Gold prices took a dramatic U-turn on Monday, reversing early gains to drop to a two-year trough after bullion futures fell on fears about central bank sales and holdings on global.exchange-traded funds sank to their lowest in more than a year. 

A dip below the psychological $1,500 an ounce level initially sparked bargain hunting, but stoploss selling took over after oil futures slipped and as investors bet the US Federal Reserve would soon end its bullion-friendly bond buying programme.

Gold hit an intraday high at $1,495.16 an ounce, but then plunged to $1,427.14, its lowest since 

April 2011. It stood at $1,441.69 by 0335 GMT, down $36.66, and the metal has slipped around 14 per cent so far this year, after rising for the last 12 years. US futures for June delivery extended losses to fall more than 5 per cent as Tokyo gold futures tumbled around 8 per cent, marking Japanese futures biggest daily fall since September 2011.Other precious metals were also hit by heavy selling, with silver falling to its lowest since 

. 

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Market Update News 16 April 2013

Silver prices fell by 0.76 per cent to Rs 51,280 per kg in futures trade today as speculators off loaded their positions in tandem with a weak global trend.At the Multi Commodity Exchange, silver for delivery in May month fell by Rs 394, or 0.76 per cent to Rs 51,280 per kg in business turnover of 18,304 lots. Similarly, the white metal for delivery in July declined by Rs 397, or 0.75 per cent to Rs 52,285 per kg in 1,256 lots.

Gold futures in India, the world's biggest buyer of the metal, hovered around their lowest level in a week,though prices were on track for a 2-per cent fall this week.At 0808 GMT, the actively traded gold for June delivery on the Multi Commodity Exchange (MCX) was down Rs 21 at Rs 29,163 per 10 grams. 

It had touched a low of Rs 29,055 in the previous session, a level last seen on April 5.

A stronger rupee weighed on sentiment. The rupee plays an important role in determining the landed cost of the dollar-quoted yellow metal.

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Daily Buzz Of Commodity Market 10/04/2013

Precious Metals
                                                        D A I L Y  B U Z Z
Gold eased at the domestic bullion market today on further selling from stockists and investors 
and subdued retail buying, mainly influenced by bearish global trend.

Silver ended stable amidst thin activity. Standard gold of 99.5 per cent purity fell by Rs 100 to 
finish at Rs 29,300 per 10 grams from Monday's closing level of Rs 29,400. 

Pure gold of 99.9 per cent purity also slid by a similar margin to conclude at Rs 29,450 per 10 
grams from Rs 29,550. 

Silver ready (.999 fineness) quoted steady at its previous level of Rs 52,500 per kilo.

Base Metals & Energy
                                                    D A I L Y  B U Z Z
Brent crude futures rose above $105 per barrel on Tuesday after data showed China's inflation 
in March was slower than expected, giving its central bank room to keep monetary policy easy 
and supportive of oil demand in the world's second-biggest consumer. 

Oil prices were also underpinned by worries over increasing tension in North Korea and a 
stalemate in talks between Iran and Western nations. 

Front-month Brent futures rose 55 cents to $105.21 per barrel by 0445 GMT, after moving in a 
$2-range and finishing 0.5 percent higher in a choppy session on Monday. 

U.S. crude futures rose 31 cents to $93.67 per barrel.

Agro Outlook
                                                  D A I L Y  B U Z Z
Chilli prices moved down by 2.49 per cent to Rs 6,200 per quintal in futures market today as speculators reduced their holdings due to weak demand in the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, chilli for delivery in April moved down by Rs 158, or 2.49 per cent to Rs 6,200 per quintal with an open interest of 2,010 lots. 

Likewise, the spice for delivery in May traded lower by Rs 128, or 1.89 per cent to Rs 6,632 per quintal in 20,230 lots.

Jeera prices rose by Rs 40 to Rs 13,677.50 per quintal in futures market today as speculators enlarged their positions, driven by pick up in exports demand. . 

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Intraday Outlook

Bullion
 Gold futures were down today tracking rise in the rupee against the dollar and as COMEX futures shed early gains and fell. Earlier in the day the gold futures were trading marginally higher as weak US non-farm payrolls, data for which was posted Friday, boosted demand for the safe-haven metal. However, profit booking after the recent rise pulled down prices in the US session. 

Energy
 Domestic oil futures were trading slightly lower tracking the same in benchmark contracts on the New York Mercantile Exchange.  Oil prices had declined, as sentiment weakened following release of discouraging US job data. Gas prices remained well supported even as temperatures in key Midwest and Northeast regions climbed to above-normal levels, shaking off a stubborn latewinter cold spell that spiked demand.

Metals 
 Base metal futures on the MCX were trading higher tracking the rise in benchmark contracts on the London Metal Exchange, where  prices gained on lower level buying, but appreciation in the rupee against the dollar capped the rise in prices. LME base metals futures had declined earlier due to demand concerns from the US and China and rising inventory in  warehouses.

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Bullions, Base-Metals and Energy Updates

Bullion

      Gold rallied over 1.5 percent on Friday, its biggest one-day gain since November, as disappointing U.S. job data fuelled expectations the Federal Reserve will continue its bullion-friendly bond purchases The metal snapped three consecutive days of sharp losses after the Labor Department said U.S. employers in March hired at the slowest pace in nine months, adding just 88,000 non-farm jobs. Heavy gold short-covering and sharp losses in U.S. equities also lifted bullion prices.  

Base—Metals

      Copper fell on Friday to within sight of the eight-month lows it hit on Thursday, after far weaker than expected U.S. jobs data spooked investors about the state of the world's largest  economy. A two-day holiday in top copper consumer China has also dampened demand for the metal. Friday's data showed American employers hired at the slowest pace in nine months in March, a sign that Washington's austerity drive could be stealing momentum from the economy. 

Energy

      Crude tumbled after payroll data showed fewer jobs were added in March than expected in the U.S., the world’s largest oil user. Oil fell earlier in the week after the Energy Department reported that storage levels were at their highest levels since 1990 even though refiners had begun to ramp up gasoline production to get ready for the summer driving season. 

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MCX Commodity Market Updates Today 05 April 2013

Precious metals prices are trading lower on COMEX today. In the evening session we have the Non Farm Payrolls and Unemployment rate data to be released by the US. Any further rise in employment numbers may limit the downside in bullion prices.

Industrial metals prices are trading a tad higher on international bourses today. Supply worries from major mines in Chile, may support the prices of copper. Buying at dips is recommended for the day.

Crude oil is trading marginally higher on NYMEX today. We expect prices to remain under pressure for the day on account of record high inventories and renewed concerns over the

debt crisis of Euro zone.

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MCX Gold, Silver, Copper, Crude Oil Updates Today 04 April 2013

Precious metals prices are trading lower on international bourses today. We expect a further sell-off in the prices of precious metals as an early indication of alterations in the asset-purchase program by the Fed may pressurize prices. Selling on rise is recommended for the day.

Industrial metals prices are trading lower on international bourses today. We expect a further drop in the prices of metals on account of weak manufacturing growth in major economies of the globe. Selling on rise is recommended for the day.

Crude oil prices are trading lower on NYMEX today. We expect a further drop in the prices of oil on account of higher inventories at key ports. Selling on rise is recommended for the day.

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MCX Gold, Silver, Copper, Crude Oil Updates Today 02 April 2013

Bullion: Gold futures were trading higher on local bourses tracking the rise in COMEX contracts, which rose due to weakness in the dollar against the euro and safe-haven buying. The Indian forex market was closed as banks were shut due to annual closure of accounts. Trading was thin as UK, Australia and Hong Kong markets are closed for Easter holiday. 

Metals: Base metal futures on MCX were trading lower due to concerns over demand from China, as the country reported a lower-than-expected rise in manufacturing Purchasing Managers' Index. The data showed that China's March PMI rose to 50.9 from 50.1 in February, while market had expected it around 52. Absence of cues from the London Metal Exchange today also kept sentiment weak in domestic market. 

Energy: Domestic crude oil futures were trading lower tracking New York Mercantile Exchange, where benchmark contract declined on profit booking in the electronic session. NYMEX oil futures eased today after rising in the previous week on upbeat US durable goods data. Crude oil futures declined also because of ongoing concerns regarding the Eurozone economy and sharp rise in the US crude oil stocks. 

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MCX Market Data ~ Commodity Updates Today 01 April 2013

Precious metals prices are trading little changed on COMEX today. We expect a further profit-taking in the prices of bullions on account of a stronger US dollar overseas. 

Industrial metals prices are trading lower on international bourses today. We expect a further decline in the prices of metals on account of a property rate tightening measures by China. Selling on rise is recommended for the day.

Crude oil prices are trading marginally lower today. We expect prices to remain under pressure for the day as Exxon Mobile Corp has shut a pipeline which carries 95,000 bpd to US Gulf Coast which would further increase the inventory build-up in the US, already standing at elevated levels.

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MCX Gold, Silver, Copper, Crude Oil Updates Today

Precious metals prices are trading firm on MCX today. We do not expect any major fall in the prices of bullions on account of the ongoing loose monetary policy by US Fed. Buying at dips is recommended for the day.

Industrial/Base metals prices are trading lower on international bourses today. We expect metals prices to remain under pressure on account of higher output from China and low physical demand. Selling on rise is recommended for the day.

Crude oil prices are trading a tad higher on NYMEX today. We do not expect any major rise in the prices of oil on account of higher inventory at key ports. Selling on rise is recommended for the day.

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MCX Gold, Silver, Crude Oil Updates Today

Gold and Silver:

Gold and silver continued their volatility due to the unclear and uncertain news flows that came into the financial markets. The recent news from Cyprus is that its parliament passed on the bailout plan, which isn’t likely to satisfy EU and IMF officials. As a result, gold traded near a 3-1/2-week high on Friday, underpinned by safe-haven demand on the fear of a potential financial meltdown in Cyprus, which has put bullion on track for its biggest weekly rise in four months. 

Crude Oil:

Crude Oil closed at $93.86 on a weekly basis. The commodity traded within a tight range between the upper $91 and $93 per bbl ranges. Supported by positive Chinese HSBC PMI data and strong US economic releases crude remained elevated. Promises of ongoing monetary stimulus from the US FOMC and the Japanese central bank prices remained strong showing little response to poor eco data in the euro zone as the Cyprus bailout problems seem to have little effect on the commodity. 

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MCX Commodity Market Report Today 25 March 2013

Gold prices fell by 0.25 per cent to Rs 29,752 per ten grams in futures trading today as speculators trimmed their positions in tandem with a weak global trend. At the Multi Commodity Exchange, gold for delivery in April fell by Rs 75, or 0.25 per cent to Rs 29,752 per ten grams in business turnover of 8,063 lots.  

In a similar fashion, the yellow metal for delivery in June lost Rs 72, or 0.24 per cent to Rs 30,315 per ten grams in 1,178 lots. Silver prices moved down by Rs 0.59 per cent to Rs 54,737 per kg in futures trade today as speculators offloaded their positions, tracking a weak global trend. At the Multi Commodity Exchange, Silver for delivery in May moved down by Rs 326, or 0.59 per cent to Rs 54,737 per kg in business turnover of 10515 lots. Similarly, the white metal for delivery in July lost Rs 308, or 0.55 per cent to Rs 55,987 per kg in 325 lots.

Copper prices moved up by 0.17 per cent to Rs 417 per kg in futures trade today as speculators enlarged their positions, taking positive cues from overseas markets. At the Multi Commodity Exchange, copper for delivery in April traded higher by 70 paise, or 0.17 per cent to Rs 417 per kg in business turnover of 35813 lots. 

Similarly, the metal for delivery in June edged up by 55 paise, 0.13 per cent to Rs 422.65 per kg in 1735 lots. Oil prices were mixed in Asia Friday on fears of a possible default by Cyprus as the European Central Bank said it would halt funding to lenders if a new bailout deal was not found, analysts said. 

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MCX Commodity Market Updates Today 22 March 2013

Snapping a four-day rising streak, gold prices today fell by Rs 120 to Rs 30,250 per 10 grams here due to selling by stockists at existing higher levels amid a weak global trend. 

Silver followed suit and fell by Rs 250 to Rs 54,750 per kg owing to lack of buying support from industrial units and coin makers. 

Traders said stockists selling at prevailing higher levels amid a weak global trend mainly led to the fall in gold and silver prices. Gold in New York, which normally sets the price trend on the domestic front, fell by USD 6.10 to USD 1,606.70 an ounce and silver by 0.31 per cent to USD 28.82 an ounce.

Lead futures prices today rose by 0.68 per cent to Rs 119 per kg on higher spot demand and positive cues from global markets. At the Multi Commodity Exchange, lead for delivery in March traded 80 paise, or 0.68 per cent higher, at Rs 119 per kg, with a turnover of 2,099 lots. The metal for delivery in April also rose by 75 paise, or 0.67 per cent, to Rs 119.75 per kg in a turnover of 360 lots.

Aluminium prices edged up by 0.53 per cent to Rs 104.60 per kg in futures trade today as participants enlarged their positions, supported by a firming trend overseas. Strong demand in the spot markets also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in March inched up by 55 paise, or 0.53 per cent, to Rs 104.60 per kg in business turnover of 463 lots. Likewise, the metal for delivery in April traded higher marginally by 55 paise, or 0.52 per cent, to Rs 106.30 per kg in 38 lots.

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MCX Commodity Updates and Trading Tips Today

Bullion: Gold futures were trading higher on the local bourses as the rupee weakened against the dollar and also rise in benchmark contract. Investors will now turn their focus to the US Federal Open Market Committee's two-day meeting for cues on its asset-purchase programmed. 

Metals: Base metal futures on MCX were trading higher due to the weakness in rupee against the dollar, but a range bound movement in benchmark contracts on the London Metal Exchange limited the rise. On LME, base metal contracts traded higher earlier in the day on bargain buying and as the initial shock over the Cyprus debt deal eased to some extent. 

Energy: Domestic crude oil futures were trading higher due to depreciation in rupee against the dollar and tailing mild upward recovery in benchmark contracts on the New York Mercantile Exchange. The upward recovery in NYMEX crude oil futures, however, was restricted, as market is awaiting release of key weekly US oil inventory report on Wednesday. 

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Weekly MCX Commodity Market Report ~ Gold, Silver, Copper, Crude Oil Updates

Both the precious metals, gold and silver, fell here today on sustained selling by stockists due to sluggish demand. While gold lost Rs 60 to Rs 29,930 per 10 grams, silver declined by Rs 15 to Rs 54,750 per kg. Traders said sustained selling by stockists on sluggish demand due to off-marriage and festival season mainly kept pressure on the precious metals. 

In line with a general weak trend, silver ready declined further by Rs 15 to Rs 54,750 per kg and weekly-based delivery by Rs 70 to Rs 54,420 per kg. On the other hand, silver coins maintained steady trend at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces in restricted buying activity.

Copper futures prices today fell 0.28 per cent to Rs 426.50 per kg, as speculators trimmed their positions amid a weak trend in the global markets. Besides, rising stockpiles of metal monitored by the London Metal Exchange (LME) also put pressure. At the Multi Commodity Exchange, copper for delivery in April declined by Rs 1.20, or 0.29 per cent, to Rs 426.50 per kg in business turnover of 1,454 lots. 

The metal for delivery in June fell by a similar margin to Rs 432.20 per kg in a business volume of 84 lots. Oil prices rose on Friday ahead of the release of US industrial production and manufacturing figures that analysts expect to show an improving economy. At the Multi Commodity Exchange, aluminium for delivery in March declined by 20 paise, or 0.19 per cent, to Rs 105.85 per kg in business turnover of 389 lots. 

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MCX Gold, Silver, Copper, Crude Oil Updates Today

Bullion: Gold futures were trading lower on local exchanges tracking COMEX futures, but the fall in rupee against the dollar limited the downside in local prices. On COMEX, gold futures came under pressure due to the strong dollar against the euro and as investors were awaiting cues from the European leaders' summit today and Friday. 

Metals: Domestic base metals were moving in a narrow range tailing benchmark contracts on the London Metal Exchange. However, depreciation in rupee against the dollar lent some support to local base metal futures. China is world's leading consumer of industrial metals, but its demand has been hit, as the country remains committed to maintaining curbs on its proper sector.

Energy: Domestic crude oil futures were trading lower on similar cues from the benchmark contracts on the New York Mercantile Exchange, but weakness in rupee against the dollar limited the fall. NYMEX crude oil futures traded lower today, as sentiment weakened following rise in the US crude oil stocks. Naturalgas futures aimed at a fresh three-month high Wednesday, gaining 0.9% as weather forecasts suggest heating demand will remain strong through the last weeks of winter.

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MCX Gold, Silver, Copper, Crude Oil Updates Today

Precious metals prices are trading lower on COMEX today. We expect a further decline in the prices of precious metals on account of a strong dollar overseas. Selling on rise is recommended for the day.

Industrial metals prices are trading lower on international bourses today. We expect copper and Lead prices to remain under pressure on account of low physical demand from China.

Crude oil prices are trading lower on NYMEX today. We expect a further decline in the prices of oil on account of higher stockpiles at key ports. Selling on rise is recommended for the day.

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MCX Gold, Silver, Copper, Crude Oil Updates and Tips Today

Bullion: Bullion futures were trading up on local exchanges tracking the rise in COMEX futures, but the strong rupee against the dollar limited the upside in prices. Bullion futures rose on COMEX, as the recent consolidation in prices 

after the sharp sell off earlier this month, boosted bargain buying. The weak dollar against the euro also pushed up prices. 

Metals: Domestic base metal futures were trading higher on the MCX tracking the trend on the London Metal Exchange, where prices rose due to a marginal fall in dollar against the euro. The rise in metal prices was, however, capped as the Indian rupee strengthened against the US dollar. On the LME also, base metals were trading higher by 0.21%-1.06%, with the benchmark three-month copper contract up at $7,784.50 a tn.

Energy: Domestic crude oil futures erased early losses on lower level buying, tracking similar technical upward recovery in benchmark contracts on the New York Mercantile Exchange. Upward recovery in MCX oil futures, however, was 

limited due to the rupee's rise against the dollar. On NYMEX, oil futures recovered slightly on bargain buying, but overall sentiment remained weak on anticipation of rise in US crude oil stocks.

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MCX Commodity Market Updates & Tips Today 12 March 2013

Bullion: Gold contracts were slightly higher on domestic exchanges tracking the gains in COMEX futures and weakness in rupee against the dollar. Gold futures rose on COMEX due to the weakness in dollar against the euro. Silver futures were trading down on local exchanges due to the fall in COMEX futures. But the weak rupee limited the downside in prices. 

Metals: Domestic base metal futures were trading weak on the MCX tracking the trend on the London Metal Exchange. The fall in metal prices was, however, limited due to the weakness of the Indian rupee against the US dollar. On the LME, base metals drifted lower after China's weaker-than-expected industrial production and retail sales data.

Energy: Domestic crude oil futures were trading down tracking global cues but a weak rupee against the dollar capped the fall. Prices fell on the New York Mercantile Exchange after economic data out of China disappointed investors, adding that a stronger dollar further dented sentiment.

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Weekly MCX Commodity Market Report and Trading Tips

Gold prices extended their fall at the bullion market here on Friday on hectic selling from stockists and investors amid subdued demand as well as lower global cues. Silver also encountered heavy speculative selling pressure and dropped below the Rs 55,000 per kg-level on the back of poor industrial buying.

Standard gold of 99.5 per cent purity dropped Rs 110 to close at Rs 29,410 per 10 gm from Thursday's closing level of Rs 29,520. Pure gold of 99.9 per cent purity also dipped by a similar margin to end at Rs 29,545 per 10 gm from Rs 29,655. Silver ready (.999 fineness) slumped Rs 925 to conclude at Rs 54,610 per kg from Rs 55,535 previously.

Nickel prices rose by Rs 1.50 to Rs 909 per kg in futures trading today as speculators enlarged their positions, tracking a firm trend at spot market on pick up in demand from alloy-maker. Besides, a firm trend in base metals at the London Metal Exchange also influenced prices. 

At the Multi Commodity Exchange, Nickel for delivery in March rose by Rs 1.50, or 0.17 per cent, to Rs 909 per kg in business turnover of 1,442 lots. Similarly, the metal prices for delivery in April contracts traded higher by Rs 1.30, or 0.14 per cent, to Rs 916.40 per kg in 117 lots.

Zinc futures prices today edged up by 0.23 percent to Rs 108.90 per kg amid a firm global trend and better domestic demand, as speculators enlarged positions. At the Multi Commodity Exchange, zinc for delivery in April up by 25 paise, or 0.23 per cent, to Rs 108.90 per kg, with a business turnover of 86 lots. The metal for delivery in March also rose marginally by 20 paise, or 0.19 per cent, to Rs 108 per kg in a business volume of 1,406 lots.

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MCX Gold, Silver, Copper, Crude Oil Updates Today

Precious metals prices are trading a tad lower on COMEX today. In the evening session we have the Unemployment rate and the non-farm payrolls data to be released by the US. Any positive data reported is likely to support the US dollar thus, pressurizing the prices of precious metals.

Industrial metals prices are trading higher on international bourses today. We expect metals prices to trade firm for the day on account of better economic data points from US and China. However, weak physical demand from China may cap the upside in metals prices.

Crude oil prices are trading lower on NYMEX today. We do not fall any major fall in the prices of oil on account of better economic data points in major oil consuming nations. Buying at dips is recommended for the day.

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MCX Gold, Silver, Copper, Crude Oil Updates Today 07 March 2013

Bullion: Gold futures were slightly lower on domestic exchanges as the rupee rose against the dollar and as COMEX futures shed early gains. On COMEX, gold futures had risen earlier on strong physical demand but the gains were erased as the dollar rose against the euro. 

Metals: Base metal futures on domestic bourses were trading lower on weak cues from benchmark contracts on the London Metal Exchange and firm rupee against the dollar. LME base metal futures traded lower due to firm dollar against the euro and continuing concerns over Chinese demand.

Energy: Domestic crude oil futures were trading lower tracking appreciation in rupee against the dollar and also Crude-oil futures added to early declines Wednesday and fell below $90 a barrel after government data showed a biggerthan-expected rise in crude-oil inventories. The Energy Information Administration said crude oil stocks climbed 3.8 million barrels in the week ended March 1, compared with forecasts for a rise of 500,000 barrels. The sharp increase came as refiners unexpectedly cut crude-processing rates in the week by 480,000 barrels a day to their lowest level in nearly two years.

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MCX Commodity Tips ~ Market Data Today 06 March 2013

Bullion:

Gold futures rebounded Tuesday as physical buyers returned to the precious metal after its recent retreat. Gold last week settled at the lowest price since late July, capping a four-week slump as a modestly brighter economic outlook left less demand for precious metals as a safe haven. Some investors buy gold on the belief that it will hold up better than other assets during market turmoil. Buying slowed as U.S. stocks climbed to multi-year highs.

Metals:

Copper futures rebound Tuesday on China's plans to maintain its economic growth target and support from stronger U.S. equity markets. Chinese authorities set an economic growth rate target of 7.5% for 2013, outgoing Chinese Premier Wen Jiabao said Tuesday. The target is unchanged from last year, but soothes investor worries of slower targeted growth. Copper prices had slumped to a three-month low Friday, after Chinese authorities introduced a 20% capital gains tax on property sales in order to cool speculation in the real estate sector. Support for April copper is seen at Rs.426 while resistance is seen at Rs. 434.

Energy:

Domestic crude oil futures were up tracking a weak rupee and rise in benchmark contracts on the New York Mercantile Exchange. NYMEX oil gained on bargain buying after falling in the last few sessions due to demand concerns.

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MCX Bullions, Metals, Energy Updates and Tips Today

Bullions:

Gold inched up on Monday, bouncing from a one-week low hit on Friday, supported by physical buying in Asia, but robust U.S. economic data dented bullion's safe-haven appeal. Automatic spending cuts that kicked off in the United States on Friday, pushing spot gold to its lowest level in more than a week, also continued to weigh. Recent weakness in the global market has triggered physical buying interest in Asia, particularly in China, as the spread between onshore prices and international prices widens, cushioning the fall in dollar-priced gold. The exodus of investment from the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, continued. Its holdings fell to a seven-month low of 1,254.885 tonnes on Friday, in a ninth consecutive session of decline. The overall improving outlook for the global economy has boosted risk appetite and pulled investors to higher-yielding assets such as equities.

• Base—Metals

Copper rose on Monday, rebounding from three-month lows hit in the previous session, but gains were kept in check by a political stalemate in the United States and Italy, and by plans in top consumer China for tighter property sector controls. China, which accounts for 40 percent of refined copper demand, could increase required down payments and loan rates for buyers of second homes in cities where prices are rising too quickly, in its latest move to contain housing costs. Copper is used extensively for both wiring and building houses. Investors also had to contend with the aftermath of an inconclusive election in Italy that has cast doubt on the euro zone's austerity-led solution to its debt crisis, and with U.S. spending cuts that threaten to dampen growth in the world's largest economy. Also weighing, data on Sunday showed growth in China's services sector expanded at its slowest pace in five months in February. Last week, meanwhile, data showed China's factory growth cooled to multi-month lows in February. 

• Energy

U.S. crude oil hit its lowest level in 2013 and settled down for a third straight session on Monday on signs of an over-supplied market and slowing China growth, while gold fell as demand waned for bullion-backed exchange-traded funds. U.S. crude oil futures fell in reaction to slowing growth in China and evidence of rising crude stockpiles in the United States. China reported over the weekend that its services sector expanded at the slowest pace in five months in February, and factory growth also cooled to multi-month lows. In the United States, automatic government spending cuts, known as the "sequester," were triggered on Friday as lawmakers failed to agree on a resolution to prevent them. According to the International Monetary Fund, the U.S. spending cuts could cost the world's biggest oil consumer about 0.5 percent of its economic growth, a factor that could weigh on global oil demand.

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Weekly MCX Commodity Market Report

Gold prices extended their fall at the bullion market here on Friday on hectic selling from stockists and investors amid subdued demand as well as lower global cues.

Silver also encountered heavy speculative selling pressure and dropped below the Rs 55,000 per kg-level on the back of poor industrial buying.

Standard gold of 99.5 per cent purity dropped Rs 110 to close at Rs 29,410 per 10 gm from Thursday's closing level of Rs 29,520. Pure gold of 99.9 per cent purity also dipped by a similar margin to end at Rs 29,545 per 10 gm from Rs 29,655.

Silver ready (.999 fineness) slumped Rs 925 to conclude at Rs 54,610 per kg from Rs 55,535 previously.

At the global front, gold declined further on strong dollar and a series of buoyant US economic data lowering the yellow metal's safe haven appeal.

Copper prices fell further by Rs 2 per kg on the local non-ferrous metal market today owing to fall in industrial demand and reports of a weak global trend.

The following are metal rates per kg: Zinc ingot 121-127, nickel plate (4x4) 1,067-1,070, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 441, chadri deshi 285. 

Lead ingot 147, lead imported 145, aluminium ingots 138, sheet cutting 139, aluminium wire scrap 142 and aluminium utensils scrap 138.

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MCX Gold, Silver, Copper, Crude Oil Tips Today 28 Feb. 2013

Bullion: Gold futures were down on domestic exchanges noting the rupee's rise against the dollar and the fall in international prices. On the COMEX, gold futures slipped on profit booking. The metal had gained sharply on Tuesday, after US Federal Reserve Chairman Ben Bernanke hinted that the central bank's bond-buying policy will continue. 

Metals: Domestic base metal futures were trading lower tracking the strength in the against the US dollar, but rangebound movement in the London Metal Exchange benchmark contract limited the fall. Metal contracts on LME slightly edged up on weak dollar against the euro and as market gained support from positive comments from the US Federal Reserve Chairman Ben Bernanke.

Energy: Domestic crude oil futures were trading lower due to the appreciation in the rupee against the dollar, but rise in benchmark contracts on the New York Mercantile Exchange limited the losses. NYMEX crude oil gained today due to weakness in the dollar against the euro and as sentiment improved in the international market following positive comments from the US Federal Reserve Chairman Ben Bernanke.

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MCX Bullion, Metals, Energy Updates and Tips Today

Bullion: Gold futures were up on domestic exchanges tracking rise in international prices and due to a weak rupee against the dollar. On COMEX, gold futures rose and surpassed the $1,600 an ounce level as concerns over Italian elections boosted safe-haven demand of the metal. The weakness in the dollar against the euro also supported prices. Spot gold prices moved to trade around $15 higher on the day Tuesday as investors digested comments from Federal Reserve Chairman Ben Bernanke as encouraging for gold-bullish loose monetary policy. 

Metals: Base metal futures on MCX were trading lower tracking benchmark contracts on London Metal Exchange, where prices fell on demand concerns from China. Moreover, demand concerns from Eurozone deepened amid uncertainty regarding political instability in Italy.

Energy: Domestic crude oil futures were trading lower following weak cues from the New York Mercantile Exchange, where prices declined due to firm dollar against the euro and on likely rise in the US  crude oil stocks. Besides demand concerns from China and Eurozone added to downward pressure on oil futures.

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MCX Gold, Silver, Copper, Crude Oil Updates Today 26 Feb. 2013

Bullion: Gold futures were up on domestic exchanges tracking rise in international prices, but a firm rupee against the dollar limited the gains. On COMEX, gold futures rose due to weakness in the dollar against the euro and on bargain buying after the recent fall in prices. 

Metals: Base metal futures on MCX were trading lower tracking firm rupee against the dollar, but mild upward correction in benchmark contracts on London Metal Exchange limited losses. LME contracts moved higher today on bargain buying, but demand concerns and release of discouraging Chinese manufacturing Purchasing Manager's Index data capped gains.

Energy: Domestic crude oil futures were trading lower tracking New York Mercantile Exchange and also due to appreciation in rupee against the dollar. China, the worlds second-biggest oil consumer after the U.S., and the engine for oil-demand growth, is sending mixed signals. China's crude oil imports rose in January by a healthy 7.4% from a year earlier, but early indications show manufacturing activity dropped in February to a level that barely indicates a growing economy. 

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Weekly MCX Commodity Market Upadtes and Tips

Gold firmed on Friday, extending gains from the previous session as lacklustre U.S. data bolstered hopes that the Federal Reserve's monetary stimulus would stay in place, though prices were headed for a second straight weekly drop.

Premium in gold traded in the Shanghai market over prices in global market stood at nearly $20 an ounce, compared with lower single-digit premiums at the end of 2012, indicating strong buying from China, the world's second-largest gold consumer, he added.

Spot gold rose nearly half a per cent to $1,582.54 an ounce by 0335 GMT, on course for a 1.6 per cent weekly decline, its second week in the red. U.S. gold inched up 0.3 per cent to $1,582.60. Technical analysis suggested spot gold may consolidate in the range of $1,554.49-$1,585 over the next few sessions, as indicated by its wave pattern and a Fibonacci retracement analysis. Chen expected gold to drop to as low as $1,500 an ounce by mid-year.

In limited deals, nickel prices rose by Rs 2 per kg on the local non-ferrous metal market today on some industrial demand. Traders said some industrial and a firming trend in overseas market mainly led to rise in nickel prices.

Meanwhile, nickel gained 2.1 per cent to USD 16,974 a tonne on the London Metal Exchange. In the national capital,nickel (4x4) rose by Rs 2 Rs 1072-1075 per kg.

The following are metal rates per kg: Zinc ingot 119-125, nickel plate (4x4) 1,072-1,075, gun metal scrap 227, bell metal scrap 229, copper mixed scrap 443, chadri deshi 285.

Lead ingot 143, lead imported 141, aluminium ingots 138, sheet cutting 139, aluminium wire scrap 142 and aluminium utensils scrap 138.

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