TODAY'S COMMODITY REPORT 24/may/2013

Precious Metals

D A I L Y B U Z Z

Gold prices climbed 1.62 per cent to Rs 26,383 per ten grams in futures trade today as speculators enlarged their positions, taking strong cues from overseas markets. 

At the Multi Commodity Exchange, Gold for delivery in June climbed by Rs 420, or 1.62 per cent to Rs 26,383 per ten grams in business turnover of 20,805 lots. 

Similarly, the yellow metal for delivery in August shot up by Rs 416, or 1.59 per cent to Rs 26,160 per ten grams in 2,597 lots.

Base Metals & Energy

D A I L Y B U Z Z

Oil was down in Asia on Wednesday as traders waited for the release of the latest energy inventory report from the United States, analysts said.

Weak demand and surging crude stockpiles in the world's biggest economy have put downward pressure on prices and limited gains.


The latest energy inventory report will be released later Wednesday from the United States, where stockpiles have outpaced demand.

An increase in inventory stocks indicates softer demand and normally leads to lower oil prices.

Agro Outlook

D A I L Y B U Z Z

At the Multi Commodity Exchange, potato for delivery in July fell by Rs 15.10, or, 1.83 per cent, to Rs 811 per quintal in business turnover of 32 lots. 

Sugar futures extended losses on Thursday on profit-taking driven by ample supplies and expectations that a sharp drop in overseas prices may lead to higher imports.

An improvement in demand from bulk buyers due to the summer season and concerns over output in 2013/14 limited the downside.