Precious
Metals
Gold
futures may rise today as speculation of the US Fed delaying a
rate
hike boosts demand outlook. At the MCX Gold futures for April 2015
contract closed at Rs
26,227 per 10 gram, up by 0.04 percent after
opening at Rs 26,240, against the previous
closing price of Rs
26,216. It touched the intra-day high of Rs 26,335 till the closing.
Base
Metals & Energy
Lead
prices fell by 0.18 per cent to Rs 109.15 per kg in futures trade
today as speculators booked
profits. Moreover, a weak trend in base
metals overseas weighed on lead prices at futures trade.
At the
Multi Commodity Exchange, lead for delivery in March fell by 20
paise, or 0.18 per cent,
to Rs 109.15 per kg in a business turnover
of 148 lots. Similarly, the metal for delivery in current
month
traded lower by 15 paise, or 0.14 per cent, to Rs 107.65 per kg in
126 lots. Similarly, the
metal for delivery in current month traded
lower by 15 paise, or 0.14 per cent, to Rs 107.65 per
kg in 126
lots. Marketmen attributed the fall in lead futures to profit-booking
by speculators as
well as a weak trend in base metals overseas ahead
of manufacturing data from China, the
world's biggest consumer.
Copper
futures rose in the domestic market on Friday as investors and
speculators booked fresh
positions in the industrial metal after
contracts to buy US existing homes rose to the highest
level since
2013 in January 2015, signaling a pickup in the housing market of the
world’s
biggest economy, lifting the demand outlook for industrial
metals. The index of US pending
home sales climbed 1.7 percent in
January 2015 following a 1.5 per cent drop in the prior
month.
Copper may rise today amid speculation that China may announce
further stimulus
measures in the near-term, bolstering demand
outlook. At the MCX Copper futures for
February 2015 contract closed
at Rs 370 per 1 kg, up by 0.31 per cent after opening at Rs 367,
against the previous closing price of Rs 368.85. It touched the
intra-day high of Rs 370.95 till
the closing
.
No comments:
Post a Comment