Precious Metals
DAILY BUZZ
GOLD
Gold
prices remained steady in the spot and futures markets on Wednesday.
At midday, the August contract for gold was trading with a marginal
rise of 0.10% at Rs 26,163 per 10 gm on MCX, and 1,566 contracts had
been traded since morning. The metal touched an intraday high of Rs
26,199 and a low of Rs 26,165.
Analysts
say the outlook remains negative for the yellow metal. "Gold is
likely to remain rangebound for the time being if rupee does not
weaken," an analyst said.
In
the global markets, gold for immediate delivery became dearer by 0.2%
at $1,262.69 an ounce before trading at $1,261.09 by 2:07 pm in
Singapore. The metal prices on Tuesday rose to $1,263.66, the highest
level since May 28, according to Bloomberg generic pricing.
In
China, the world's biggest bullion consumer, volumes for the
benchmark spot contract in Shanghai rose for the second day on
Tuesday to a two-week high of 12,914 kg, climbing from a two-month
low of 8,568 kg on June 6. Data this week may show retail sales in
the United States rose in May. US employment exceeded its
pre-recession peak, according to a June 7 report. Gold for August
delivery traded at $1,260.90 an ounce on the Comex in New York from
$1,260.10 on Tuesday, according to agency reports.
Base Metals & Energy
DAILY BUZZ
COPPER
Copper prices moved up by
0.19 per cent to Rs 401.60 per kg in futures trade today as
speculators created fresh positions on firm global cues.
At the Multi Commodity
Exchange, Copper for delivery in June traded higher by 75 paise, or
0.19 per cent, to Rs 401.60 per kg in a turnover of 690 lots.
Likewise, the metal for
delivery in August edged up by 60 paise, or 0.15 per cent, to Rs
404.80 per kg in 33 lots.
CRUDE OIL
Crude oil futures rose 0.50
per cent to Rs 6,201 per barrel today as speculators created
positions amid a firm trend in Asian markets.
At the Multi Commodity
Exchange, Crude oil for delivery in June gained Rs 31, or 0.50 per
cent, to Rs 6,201 per barrel, with a business turnover of 775 lots.
The oil for July delivery
moved up by Rs 30, or 0.49 per cent, to Rs 6,179 per barrel, with a
business volume of 52 lots.
Currency tips for today
ReplyDeleteFOREX CALL: SELL USD/JPY BELOW 102.05 TG-101.90/101.70/101.40 SL-102.35