RESEARCH VIA - TODAY'S MCX COMMODITY TIPS 16/oct/2013

Precious Metals

D A I L Y

B U Z Z

Gold futures prices recovered by 0.11 per cent to Rs 28,395 per 10 gram on Monday as speculators enlarged their positions in tune with a better trend overseas.

At the Multi Commodity Exchange, gold for delivery in December up by Rs 30, or 0.11 per cent, to Rs 28,395 per 10 gram, with a business turnover of 345 lots.

In a similar fashion, the metal for delivery in the far-month February next year contracts gained Rs 26, or 0.09 per cent, to Rs 28,150 per 10 gram, with a trade volume of 7 lots.

Silver prices fell 0.31 per cent to trade at Rs 46,745 per kg in futures trade today as speculators reduced positions amid a weakening trend in the global markets.

Besides, a weak trend in the precious metals at the domestic bullion market also weighed on silver futures. At the Multi Commodity Exchange, Silver for delivery in December lost Rs 146, or 0.31 per cent, to Rs 46,745 per kg in business turnover of 457 lots.

In a similar fashion, the white metal for delivery in far-month march, next year contracts traded Rs 95, or 0.20 per cent lower, at Rs 48,049 per kg in ten lots.

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