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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