RESEARCHVIA ~ MCX COMMODITY TIPS - PRECIOUS METAL TIPS FOR 20/DEC/2013

Precious Metals

D A I L Y

B U Z Z

Gold prices fell by 0.49 per cent to Rs 28,727 per ten grams in futures trade today as speculators offloaded their positions in tandem with a weak global trend as the Fed decided to trim monthly bond buying.

At the Multi Commodity Exchange, Gold for delivery in February fell by Rs 141, or 0.49 per cent to Rs 28,727 per ten grams in business turnover of 1922 lots.

Similarly, the yellow metal for delivery in April also moved down by Rs 131, or 0.46 per cent to Rs 28,150 per ten grams in 59 lots. Meanwhile, gold fell 0.2 per cent to 1,215.93 dollar an ounce in Singapore.

Silver prices plunged by 1.79 per cent to Rs 44,535 per kg in futures trading today as speculators reduced their holdings on the back of weak global trend as the US Fed decided to trim monthly bond purchases.

At the Multi Commodity Exchange, silver for delivery in March plunged by Rs 813, or 1.79 per cent, to Rs 44,535 per kg in business turnover of 4,442 lots.

Similarly, the white metal for delivery in May moved down by Rs 764, or 1.65 per cent to Rs 45,513 per kg in 74 lots.

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