Precious
Metals
Gold
futures may extend gains today amid a bullish physical demand
outlook
and fresh policy easing in China. At the MCX Gold futures
for April 2015 contract closed at Rs
26,477 per 10 gram, up by 0.76
per cent after opening at Rs 26,200, against the previous closing
price of Rs 26,227. It touched the intra-day high of Rs 26,515 till
the closing.
Base
Metals And Energy
Lead
prices rose by 0.56 percent on Monday at the domestic markets due to
the decline in the
lead stockpiles at the London Metal Exchange
(LME) on account of the strong demand for the
commodity. LME lead
stocks fell by 50 metric tonnes to 214700 metric tonnes as on March
2,
2015. At the MCX, Lead futures, for the March 2015 contract, is
trading at Rs 108.30 per kg, up
by 0.56 percent, after opening at Rs
108.20, against a previous close of Rs 107.70. It touched an
intra-day high of Rs 108.85 till the trading.
Zinc
futures ended higher in the domestic market on Saturday as investors
and speculators
booked fresh positions in the industrial metal as
strong physical demand for zinc in the
domestic spot market lifted
sentiment.Further, contracts to buy US existing homes rose to the
highest level since August 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. At the MCX, Zinc futures for March 2015
contract closed at Rs 127.7 per 1 kg, up by
0.31 percent after
opening at Rs 127.4, against the previous closing price of Rs 127.30.
It
touched the intra-day high of Rs 128 till the closing.
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