10/28/2010 06:47:00 PM
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NCDEX Commodity Report
NCDEX Pepper futures gained with the futures touching the three percent high in todays afternoon trading sessions lead by fresh buying amid supportive bullish global cues.The spot prices surged another Rs 500 to Rs 20400 and to Rs 19900 per 100 kg for the MG-1 and Un-Garbled pepper in the Kochi mandi.
NCDEX Pepper for the benchmark November delivery touched the high of Rs 20985 and ended the session higher by 2.94 percent or Rs 600 at Rs20980 per 100 kg. The open interest in the contract added 0.48 percent to 8,973 tonnes. Volume traded surged to 12,190 tonnes from 11,292 tonnes as on last day. pot Gold prices gained around 0.2% and were hovering around $1326.10/oz till 3.45 pm IST today. The yellow metal prices witnessed gains mainly on the back of weakness in the US Dollar Index (DX) today. The DX – a gauge against a basket of six currencies was trading at 77.66 till 5.30 pm IST. On the MCX platform; gold prices dropped slightly by 0.1% and were trading around Rs19,418 till 3.45 IST today. Asian markets traded on mixed note, but the European.
MCX Commodity Report
Spot Gold prices gained around 0.2% and were hovering around $1326.10/oz till 3.45 pm IST today. The yellow metal prices witnessed gains mainly on the back of weakness in the US Dollar Index (DX) today. The DX – a gauge against a basket of six currencies was trading at 77.66 till 5.30 pm IST. On the MCX platform; gold prices dropped slightly by 0.1% and were trading around Rs19,418 till 3.45 IST today. Asian markets traded on mixed note, but the European indices were strong in the afternoon trade.
Copper prices gained almost 1% on LME and were trading at $8343/tonne till 3.45 IST today. The red metal prices witnessed sharp gains mainly due to weakness in the DX today. Moreover, possibility of a strike of the union workers is also supporting the red metal prices today. Workers at the Collahuasi
copper mine in Chile, which is the third largest mine in the world are expected to go on strike following failure of wage negotiations. Black Rock Inc, the
world’s largest money manager has plans to introduce the Exchange Traded Product (ETP) backed by the copper. Copper inventories on the LME decreased
by 575 tonnes to reach at 368,025 tonnes today. On the MCX, red metal prices gained around 0.4%, and were hovering at Rs375.20/kg today.
Crude oil were steady on the Nymex, and were hovering at $81.99/bbl till 3.45 pm IST today. Oil prices took cues from the weakness in the DX which cushion downside in the prices today. Sharp gains in the crude oil prices were capped due to opening of seven out of 12 refineries in France, which eased the supply concerns in the country. On the MCX, crude oil prices climbed by 0.3% and were trading at Rs3675/bbl till 3.45pm IST today.
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