Precious Metals
D A I L Y B U Z Z
Both the precious metals, gold and silver fell in the national capital Tuesday on stockists selling at existing higher levels, driven by a weak global trend.While gold tumbled by Rs 465 to Rs 26,950 per ten grams, silver shed by Rs 880 to Rs 44,000 per kg on reduced offtake. Sentiment turned bearish after gold declined in global markets, boosting the case for reduced stimulus.
In addition, sluggish demand at prevailing higher levels and rising equities lured investors to park their funds in stock markets, which had negative impact on the precious metals.
On the domestic front, gold of 99.9 and 99.5 percent purity tumbled by Rs 465 each to Rs 26,950 and Rs 26,750 per ten grams, respectively.It had gained Rs 465 in the previous two session. Sovereign followed suit and declined by Rs 100 to Rs 23,700 per piece of eight gram.In a similar fashion, silver ready dropped by Rs 880 to Rs 44,000 per kg and weekly-based delivery by Rs 235 to Rs 43,360 per kg. The white metal had gained Rs 880 in last three sessions.However, silver coins held steady at Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces in scattered deals.
Base Metals & Energy
D A I L Y B U Z Z
Crude oil futures prices today fell by 0.80 per cent to Rs 5,227 per barrel, after speculators reduced exposures amid weak trend in Asian trade.
At the Multi Commodity Exchange, crude oil for delivery in June fell by Rs 41, or 0.80 per cent, to Rs 5,227 per barrel in 8,397 lots.
Oil for the July delivery contracts moved down by Rs 38, or 0.72 per cent, to Rs 5,256 per barrel in a turnover of 609 lots.
The trading sentiment turned weak at futures trade as crude prices declined in Asian trade, dragged down by prospects of weaker crude demand form China and a buildup in US stockpiles, analysts said.
Meanwhile, crude oil for the July delivery dropped 64 cents to $ 93.51 a barrel on the New York
Mercantile Exchange.
Agro Outlook
D A I L Y B U Z Z
Coriander prices fell by Rs 142 to Rs 6,640 per quintal in futures trade today on profit-booking by speculators as demand waned in the spot market against the excess supplies.
The spice of July delivery declined by Rs 124, or 1.80 per cent, to Rs 6,760 per quintal with open interest of 15,580 lots.
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