5/12/2011 10:19:00 PM
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MCX silver front month July contract lost around Rs 10,000/kg from yesterday’s high of Rs 59,976/kg, which is nearly 17 per cent. It currently dropped six per cent.
London spot gold and silver made a low of USD 1,478.15/oz and USD 32.33/oz respectively Thursday. Gold in London spot lost nearly 1.5 per cent. It currently traded at USD 1,583.65/oz, down 16.85.
MCX gold, most active June contract traded at Rs 21,797/10 gm, down Rs 124 and fluctuated between Rs 22,034- 21,710/10gm. Volume was 23,544 lots.
Gold mini, most active June contract traded at Rs 21,804/10 gm, down Rs 121 and fluctuated between Rs 22,065- 21,720/10gm. Volume was 42,046 lots.
Most active silver July contract tanked Rs 3,130 at Rs 50,740/kg and so far made intra-day high and low of Rs 54,637- 49,751/kg so far. Volume so far was 99,734 lots. MCX silver mini most active June contract plummeted by Rs 3,098 at Rs 50,797/kg and traded between Rs 55,668- 49,775/kg. Volume recorded 198,703 lots.
Commodities fell for a second day after China raised banks’ reserve requirements, heightening speculation slower growth will curb raw materials demand.
The Standard & Poor’s GSCI Index of 24 raw materials fell 0.9 percent to 674.89 by 3:15 p.m. London time after dropping 3.9 percent yesterday. Silver tumbled 5.3 percent. Crude oil declined 0.8 percent after the International Energy Agency cut its 2011 demand forecast.
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