Precious Metals
Gold
prices recovered by Rs 95 to Rs 27,285 per 10 grams at the bullion
market today on emergence of buying by jewellers to meet wedding
season demand amid a firm global trend. Silver followed suit and
rebounded by Rs 200 to Rs 37,400 per kg on increased offtake by
industrial units and coin makers. Silver followed suit and rebounded
by Rs 200 to Rs 37,400 per kg on increased offtake by industrial
units and coin makers.
Natural
Gas futures surged in the domestic market on Wednesday as investors
and speculators booked fresh positions in the energy commodity as
forecasts for a cold snap in the US in the coming days bolstered the
demand outlook for the heating fuel. Latest weather forecasts showed
frigid weather spanning from the Great Lakes-region to the Northeast
through February 26, 2015. At the MCX, Natural Gas futures for
February 2015 contract closed at Rs 174.30 per 1 kg, up by 3 per cent
after opening at Rs 170.7, against the previous closing price of Rs
169.2. It touched the intra-day high of Rs 176.50 till the closing.
Lead
prices weakened by 0.22 per cent to Rs 112.85 per kg in futures trade
today as speculators offloaded positions driven by subdued demand in
the spot market. However, the metal's strength at the London Metal
Exchange, cushioned the fall. At the Multi Commodity Exchange, lead
for delivery in March shed 25 paise, or 0.22 per cent, to Rs 112.85
per kg in a business turnover of two lots. Likewise, the metal for
delivery in February traded lower by 15 paise, or 0.13 per cent, to
Rs 111.70 per kg in 139 lots. Market analysts said a weak trend at
domestic spot markets on subdued demand from battery makers mainly
led to a fall in lead prices at futures trade here.
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