Wednesday, 2 April 2014

PRECIOUS METALS TIPS April 02, 2014

DAILY BUZZ
GOLD
  • Gold futures prices today shed 0.26 per cent to Rs 28,073 per ten grams as participants indulged in offloading their positions after the metal dropped to a seven-week low in global markets.
  • Gold prices fell by Rs 73, or 0.26 per cent, to trade at Rs 28,073 per 10 gram for delivery in far- month June contracts at the Multi Commodity Exchange. It clocked a turnover of 405 lots.
  • Similarly, the metal for delivery in April shed Rs 15, or 0.05 per cent, to Rs 28,521 per 10 gram in 135 lots.
  • Market analysts said sustained weakness in the overseas markets where gold fell to its lowest price in seven-week after holdings in the largest exchange-traded product shrank the most in five weeks, put pressure on the precious metal prices here.
  • Globally, gold lost 0.50 per cent to $1,278.20 an ounce, the lowest since February in Singapore.

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