DAILY BUZZ
GOLD
Amid a weak trend overseas and profit-booking by speculators, gold prices fell 0.45 per cent to Rs 28,840 per 10 grams in futures trade today.
At the Multi Commodity Exchange, gold for delivery in June eased by Rs 130, or 0.45 per cent, to Rs 28,840 per 10 grams in a business turnover of 325 lots.
Likewise, the metal for delivery in far-month August shed Rs 73, or 0.26 per cent, to Rs 28,329 per 10 grams in 12 lots.
Analysts said besides profit-booking by speculators, a weak trend in the overseas markets on speculation that the Federal Reserve will further reduce US monetary stimulus as it starts a two-day policy meeting today, put pressure on the gold prices at futures trade here.
Globally, gold traded lower at USD 1,295.69 an ounce from USD 1,296.74 in Singapore today.
Base Metals & Energy
DAILY BUZZ
COPPER
Copper prices fell by 0.59 per cent to Rs 416.30 per kg in futures trade today as speculators booking-profits on sluggish demand from consuming industries in the spot market.
At the Multi Commodity Exchange, copper for delivery in June fell by Rs 2.45, or 0.59 per cent, to Rs 416.30 per kg in a business turnover of 2,268 lots.
Similarly, the metal for delivery in April declined by Rs 1.75, or 0.42 per cent, to Rs 414.15 per kg in 6,435 lots. Analysts attributed the fall in copper futures to profit-booking by speculators due to sluggish demand from consuming industries in the spot market.
LEAD
Lead prices softened by 0.59 per cent to Rs 126.35 per kg in futures trading today as speculators reduced positions on the back of weak demand from battery-makers in the spot market.
At the Multi Commodity Exchange, lead for delivery in April declined by 75 paise, or 0.59 percent, to Rs 126.35 per kg in a business turnover of 3,651 lots. Likewise, the metal for delivery in May traded lower by 75 paise, or 0.58 per cent, to Rs 127.90 per kg in 1,117 lots.
Analysts said speculators trimmed positions on the back of weak demand from battery-makers
in the spot market which mainly influenced lead prices at futures trade.
Agro Outlook
DAILY BUZZ
CASTOR SEED
Castorseed prices drifted by Rs 54 to Rs 4,057 per quintal in futures trading today on increased selling in line with weak spot markets sentiment.
Marketmen said fall in demand from paint, soap and other manufacturing industries against ample supply from growing regions in spot markets, mainly pulled down the prices in future trade.
At the National Commodity and Derivatives Exchange, castorseed prices for most active May contract slided by Rs 54, or 1.31 per cent, to Rs 4,057 per quintal, having an open interest of 1,31,350 lots.
Near June contract fell by same margins of Rs 54, or 1.29 per cent, at Rs 4,118 per quintal, showing an open interest of 86,590 lots.