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Wednesday, August 6, 2014

DAILY MCX COMMODITY REPORT 6/AUG/2014

Precious Metals

DAILY BUZZ
GOLD/SILVER
Snapping its four-day rising streak, gold prices fell by Rs 135 to Rs 28,390 per 10 grams in the national capital today on fall in demand at prevailing higher levels amid a weak global trend.
However, silver held steady at Rs 45,000 per kg on some support.
Traders said besides fall in demand at prevailing higher levels, weak global trend led to the fall in gold prices.
Gold in New York, which normally sets price trend on the domestic front, fell 0.46 per cent to USD 1 ,288.20 an ounce and silver by 0.84 per cent to USD 20.13 an ounce in yesterday's trade.
In Delhi, gold of 99.9 and 99.5 per cent purity dropped by Rs 135 each to Rs 28,390 and Rs 28,190 per 10 grams, respectively. It had gained Rs 325 in the previous four sessions.
Sovereign also declined by Rs 100 to Rs 24,700 per piece of eight grams.
On the other hand, silver ready held steady at Rs 45,000 per kg while weekly-based delivery lost Rs 490 at Rs 44,090 per kg on lack of buying support from speculators
Base Metals & Energy
DAILY BUZZ
NICKEL
Nickel prices moved down by 0.21 per cent to Rs 1,134.80 per kg in futures trade today as speculators trimmed positions even as the metal strengthened overseas.
At the Multi Commodity Exchange, nickel for delivery in September declined by Rs 2.40, or 0.21 per cent, to Rs 1,134.80 per kg in a business turnover of three lots.
The metal for delivery in August shed Rs 2.30, or 0.20 per cent, to Rs 1,129.50 per kg in 329 lots.
LEAD
Lead prices shed 0.50 per cent to Rs 138.05 per kg in futures trading today as speculators trimmed positions amidst a weak global trend and sluggish demand from battery-makers in the spot market.
At the Multi Commodity exchange, lead for delivery in August eased by 70 paise, or 0.50 per cent, to Rs 138.05 per kg in a business turnover of 185 lots.
The metal for delivery in September fell by a similar margin to trade at Rs 138.70 per kg in just one lot. At the LME, lead for delivery in three months retreated 0.8 per cent to USD 2,260 per tone.
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  2. Copper prices fell to their lowest level in more than five weeks Wednesday, pressured by a stronger dollar and concerns about growth in China, the world's largest consumer of the metal.
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