COMMODITY REPORT

Precious Metal

D A I L Y  B U Z Z

Gold and silver futures traded steady on Friday as pressure from a stronger rupee at home was offset by firm global markets, with physical traders preferring to stay on the sidelines in a seasonally slack demand period.

The rupee, which traded stronger tracking gains in most Asian peers, plays an important role in determining the landed cost of the dollar-quoted yellow metal.


Festival and wedding season has ended and will re-start in August. Gold imports int o India, the world's biggest buyer of bullion, have fallen from an average of $135 million in the first half of May to $36 million in the second half of the month, the finance minister said on Wednesday.

The government does not need to act as of now to further moderate gold imports as the recent steps have already had a considerable impact, a government official said.

silver for July delivery was 0.09 percent higher at 43,275 rupees per kilogram.

Base Metals & Energy

D A I L Y  B U Z Z

Zinc futures prices today edged up by 0.28 per cent to Rs 107.40 per kg after speculators enlarged positions amid a firming trend overseas and rising demand in spot market.

At the Multi Commodity Exchange, Zinc for delivery in June edged up by 30 paise, or 0.28 per cent, to Rs 106.10 per kg with a business turnover of 606 lots.

The metal for delivery in July gained 30 paise, or 0.28 per cent, to trade at Rs 107.40 per kg with a business turnover of 21 lots.

Amid rising demand from alloy- makers and a firming trend overseas, nickel prices moved up by Rs 2.50 to Rs 821 per kg in futures trading today as speculators enlarged positions.

Agro Outlook

D A I L Y  B U Z Z

Mentha oil prices fell by 1.78 per cent to Rs 1,011 per kg in futures trade today as speculators indulged in profit-booking amid subdued spot demand.

Besides, adequate stocks position following increased arrivals from Chandausi in Uttar Pradesh, weighed on prices.

At the Multi Commodity Exchange, Mentha oil for delivery in July fell by Rs 18.40, or 1.78 per cent, to Rs 1,011 per kg, with a business volume of 199 lots.

Similarly, mentha oil prices for the June delivery drifted by Rs 16.20, or 1.58 per cent, to Rs 1,004 per kg, with a business turnover of 579 lots.

Chana prices rose by Rs 23 to Rs 3,274 per quintal in futures trade today as traders enlarged their holdings on rising demand against restricted supplies in the spot market.

At the National Commodity and Derivatives Exchange, Chana for delivery in July month rose by Rs 23, or 0.70 per cent, to Rs 3,274 per quintal, with an open interest of 1,73,320 lots.