Thursday, March 17, 2011

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Gold futures prices surged today from a one month low in the domestic market on the back of following global cues. April future climbed as much as 0.41% to Rs. 20,690.00 per 10 grams on the Multi Commodity Exchange (MCX) as speculators started to take fresh long positions at the lower price level.

Gold for April future surged as much as 0.66% to $1,402.00 per ounce on the Commodity Exchange (COMEX) on the back of igniting violence in Bahrain and aftermath of Japan’s earthquake, boosted the demand for precious metals as a safe haven investment. Bahrain declared a state of emergency yesterday as Saudi Arabia’s militant failed to end demonstrations in the country.

The top losers at MCX are Potato TRWR for April contract (-4.0%), Potato TRWR for May contract (-4.0%), Potato for May contract (-3.85%), Mentha oil for May contract (-1.25%) and Refined soya oil for May contract (-1.05%). (At 05:12 PM today).

The top gainers at NCDEX are Pepper for March contract (4.0%), Pepper for April contract (4.0%), Pepper for May contract (4.0%), Pepper for June contract (4.0%) and Pepper for July contract (3.0%). (At 05:10 PM today).

At Multi Commodity Exchange (MCX), gold future for April contract is trading at Rs. 20,645.00 per 10 grams, up by 0.19%, after opening at Rs. 20,636.00 against the previous close price of Rs. 20,605.00. It touched the intra-day high of Rs. 20,690.00 till the trading. (At 05:03 PM today).

At COMEX, gold future for April contract is trading at $1,400.10 per ounce, up by $7.3, after opening at $1,394.8 against the previous close price of $1,392.8 per ounce. It touched the intra-day high of 1,402.00 with a business volume of 27,086 lots till the electronic trading. (At 05:01 PM today).      

Silver for May contract, at MCX, is trading at Rs. 52,131.00 per kg, up by 0.09%, after opening at Rs. 52,128.00 against the previous close price of Rs. 52,084.00. It touched the intra-day high of Rs. 52,300.00 till the trading. (At 05:00 PM today).

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