RESEARCH VIA - MCX COMMODIY TIPS FOR 15. Nov.2013

Precious Metals

D A I L Y

B U Z Z

Gold prices recovered by 0.25 per cent to Rs 29,778 per 10 grams in futures trade today as speculators covered short positions even as precious metal remained weak overseas.

At the Multi Commodity Exchange, gold for delivery in December recovered by Rs 73, or 0.25 per cent, to Rs 29,778 per 10 gram in business turnover of 1,106 lots.

The metal for delivery in far-month February moved up by Rs 50, or 0.17 per cent, to Rs 29,479 per 10 gm in a turnover of 54 lots.

Silver prices recovered by 0.37 per cent to Rs 49,849 per kg in futures trade today, largely supported by covering-up of short positions by speculators even as the metal weakened in overseas markets.

At the Multi Commodity Exchange, silver for delivery in March next year contracts gained Rs 186, or 0.37 per cent, to Rs 49,849 per kg in a business turnover of 84 lots.

Similarly, the white metal for delivery in December gained Rs 154, or 0.32 per cent, to Rs 48,298 per kg, in a business volume of 1,153 lots. In the international market, silver lost one per cent to trade at USD 21.30 an ounce in Singapore.

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