Precious Metals
D A I L Y B U Z Z
GOLD
Gold extended gains to a third session on Thursday, scaling fresh two-week highs, after minutes
from the Federal Reserve's policy meeting showed that officials were not keen on increasing
interest rates anytime soon.
Gold prices came under pressure last month after Fed Chair Janet Yellen said the US central
bank would probably end its massive bond-buying programme this fall and could start raising
interest rates around six months later. Low interest rates, which cut the opportunity cost of
holding non-yielding bullion above other assets, had been an important factor driving gold
higher in recent years.
Minutes from the Fed's March 18-19 meeting released on Wednesday showed policymakers
were unanimous in wanting to ditch the thresholds they had used to telegraph a policy
tightening and did not reveal any discussion of keeping rates near zero for a considerable time.
Spot gold rose to $1,316.81 an ounce - its highest since March 25 - before settling to trade up
0.3 per cent at $1,315.04 by 0319 GMT.
It had gained 1.2 per cent in the previous two sessions, also helped by rising geopolitical
tensions in Ukraine that boosted its safe-haven appeal.
Base Metals & Energy
D A I L Y B U Z Z
NICKEL
Nickel prices moved up by 0.15 per cent to Rs 1,042.90 per kg in futures market today as
speculators enlarged their positions, tracking a firming trend in spot market on increased
demand from alloy-makers.
Besides, an encouraging trend at the London Metal Exchange (LME) supported the upside.
At the Multi Commodity Exchange, nickel for delivery in May gained Rs 1.60, or 0.15 per cent,
to Rs 1,042.90 per kg in business turnover of 84 lots.
In a similar fashion, the metal for delivery in April rose Rs 1.30, or 0.13 per cent, to Rs 1,036.10
per kg in 641 lots.
COPPER
Tracking a weak global trend, copper shed 0.27 per cent to Rs 409 per kg in futures trade today
as speculators offloaded their positions.
At the Multi Commodity Exchange, copper for delivery in June fell Rs 1.10, or 0.27 per cent, to
Rs 409 per kg in business turnover of 14 lots.
Similarly, the metal for delivery in April traded lower by 95 paise, or 0.23 per cent, to Rs 405.50
per kg in 223 lots. Analysts attributed the fall in copper futures to weak global cues and
subdued demand at domestic spot markets.
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D A I L Y B U Z Z
GOLD
Gold extended gains to a third session on Thursday, scaling fresh two-week highs, after minutes
from the Federal Reserve's policy meeting showed that officials were not keen on increasing
interest rates anytime soon.
Gold prices came under pressure last month after Fed Chair Janet Yellen said the US central
bank would probably end its massive bond-buying programme this fall and could start raising
interest rates around six months later. Low interest rates, which cut the opportunity cost of
holding non-yielding bullion above other assets, had been an important factor driving gold
higher in recent years.
Minutes from the Fed's March 18-19 meeting released on Wednesday showed policymakers
were unanimous in wanting to ditch the thresholds they had used to telegraph a policy
tightening and did not reveal any discussion of keeping rates near zero for a considerable time.
Spot gold rose to $1,316.81 an ounce - its highest since March 25 - before settling to trade up
0.3 per cent at $1,315.04 by 0319 GMT.
It had gained 1.2 per cent in the previous two sessions, also helped by rising geopolitical
tensions in Ukraine that boosted its safe-haven appeal.
Base Metals & Energy
D A I L Y B U Z Z
NICKEL
Nickel prices moved up by 0.15 per cent to Rs 1,042.90 per kg in futures market today as
speculators enlarged their positions, tracking a firming trend in spot market on increased
demand from alloy-makers.
Besides, an encouraging trend at the London Metal Exchange (LME) supported the upside.
At the Multi Commodity Exchange, nickel for delivery in May gained Rs 1.60, or 0.15 per cent,
to Rs 1,042.90 per kg in business turnover of 84 lots.
In a similar fashion, the metal for delivery in April rose Rs 1.30, or 0.13 per cent, to Rs 1,036.10
per kg in 641 lots.
COPPER
Tracking a weak global trend, copper shed 0.27 per cent to Rs 409 per kg in futures trade today
as speculators offloaded their positions.
At the Multi Commodity Exchange, copper for delivery in June fell Rs 1.10, or 0.27 per cent, to
Rs 409 per kg in business turnover of 14 lots.
Similarly, the metal for delivery in April traded lower by 95 paise, or 0.23 per cent, to Rs 405.50
per kg in 223 lots. Analysts attributed the fall in copper futures to weak global cues and
subdued demand at domestic spot markets.
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