Market update for July 1 ,2013

Precious Metals:

D A I L Y B U Z Z

Amid a weak trend overseas, gold prices fell 0.92 per cent to Rs 25,267 per 10 gm in futures trade today as speculators indulged in trimming positions.

At the Multi Commodity Exchange, gold for delivery in far-month October contracts eased by Rs 235, or 0.92 per cent, to Rs 25,267 per 10 gm in business turnover of 134 lots.

Likewise, the metal for delivery in August month contracts shed Rs 217, or 0.86 per cent, to Rs 25,158 per 10 gm in 2,967 lots.

Analysts said a weak trend in the overseas markets, where gold dipped below USD 1,200 an ounce to trade at nearly three-year low on persistent worries over the US Federal Reserve's plan to wind down its monetary stimulus, put pressure on the gold prices at futures trade here.

Globally, gold fell 0.60 per cent, to USD 1,191.79 an ounce after touching a year low of USD 1,180.71 in Singapore today.

Base Metals & Energy:

D A I L Y B U Z Z

Nickel futures today traded lower by 0.39 per cent to Rs 822.30 per kg largely in tune with a 
weakening trend overseas amid subdued spot demand.

At the Multi Commodity Exchange, nickel for delivery in June weakened by Rs 3.20, or 0.39 per 
cent, to Rs 822.30 per kg in business turnover of 988 lots.

Similarly, the metal for delivery in July traded lower by Rs 2.40, or 0.29 per cent, to Rs 830.80 
per kg in 542 lots.

Globally, nickel was little changed at USD 13,836 per tonne at the London Metal Exchange.
Tracking a weak trend overseas and subdued domestic demand, lead fell 0.61 per cent to Rs 121.75 perkg in futures trade today after participants reduced their exposures.

At the Multi Commodity exchange, lead for delivery in June shed 75 paise, or 0.61 per cent, to Rs 121.75 per kg in business turnover of 996 lots.

Metal prices for delivery in the July also fell by 60 paise, or 0.49 per cent to trade at Rs 122.45 per kg in 595 lots.

Globally, at the London Metal Exchange (LME) lead traded a shade lower at USD 2,049.50 per tonne.