MCX becomes World’s 6th largest Exchange on the Strength of Metal and Energy.

MCX, India’s No. 1 Commodity Exchange, has become the 6th largest and amongst the fastest growing commodity futures exchange in the world in terms of the number of contracts traded during the period
Jan to Dec 2009.

With a vision to be amongst the top commodity futures exchange in the world, MCX will celebrate 2010 as a ‘Year of Metal and Energy’.The key commodity segments that enabled MCX to attain the 6th position globally are Bullion, Base Metals and Energy.

Metals and Energy segments contribute more than 95% to MCX’s volumes.In addition, MCX has become the largest exchange in Silver; the second largest in Gold, Copper and Natural Gas and the
third largest in Crude Oil futures in the world, in terms of number of futures contracts traded during the calendar year 2009.

For the period January to December 2009, the total number of contracts traded on MCX in Silver, Gold, Copper, Natural Gas and Crude Oil futures were 28.51 million, 30.42 million, 29.60 million, 11.12 million and 41.09 million.

On this development, Mr. P.K Singhal, Deputy Managing Director, MCX, said, “We are proud to be the world’s 6th largest commodity futures exchange and one of the best exchanges globally from the eastern part of the world.This development establishes India’s status as a ’Price Setter’ from being a ’Price Taker’. We are committed to make MCX the best commodity exchange in the world.


Metals and Energy segments are the key contributors to our success and these have enabled us to become the 6th largest exchange within 6 years of commencement of our operations. We have decided to provide special status to metals and energy segments, for the year 2010, with an aim to move up further in the global chart.Prices of MCX in Gold, Silver, Copper, Nickel, Zinc as well as Crude Oil have become reference points for the spot market and have become a basis for decision making for the participants of the ecosystem.

This price has become a benchmark price since India has a significant share of trade in metal and energy segments giving India its rightful place as a “Price Setter’’.

GOLD PRICES ARE HIGH OF 5 MONTHS AT RS 18,000 per 10 gm

NEW DELHI: Gold Prices today spurted by Rs 495 to regain the Rs 18,000 per ten gram level after five months on heavy buying driven by a rally in overseas markets.

Standard gold surged by Rs 495 to Rs 18,110 per ten gram, a level last seen on November 26, 2009.

Silver also jumped Rs 565 to Rs 28,165 per kg on increased offtake by industrial units and coin makers.

Gold in global markets, which normally set the price trend on the domestic front, recorded a handsome rally of 33.20 dollars to 1,208.80 dollars an ounce last evening.

Some funds shifting from melting equity to rising gold for quick gains and firming trend at the futures trading further fuelled the uptrend, marketmen said.

Standard gold and ornaments surged by Rs 495 each to Rs 18,110 per ten gram and Rs 17,960 per ten gram respectively, Sovereign, followed suit and rose by Rs 100 to Rs 14,250 per piece of eight gram.

GOLD FALLS BY Rs 135 ON WEAK GLOBAL ISSUES

NEW DELHI: Gold prices on Wednesday fell by Rs 135 to Rs 17,250 /10 gram on the bullion market here on heavy selling by stockists after weak global cues.

Silver prices declined by Rs 900 to Rs 27,850 per kg. Gold in the overseas markets, which normally the set the price trend on the domestic front here, dropped 0.4 per cent to 1,166.55 $ an ounce after the dollar rose on European debt woes and a report showing an unexpected jump in US factory orders.

Standard gold and ornaments plunged by Rs 135 each to Rs 17,250 and Rs 17,100 per ten gram respectively. They had gained Rs 155 in the three previous sessions. Sovereign, however, closed flat at Rs 14,150 per piece of eight gram in restricted activity. Similarly, silver ready dropped by Rs 900 to Rs 27,850 per kg and weekly-based delivery by Rs 1,130 to Rs 27,300 per kg. Silver coins fell by Rs 200 to Rs 33,700 for buying and Rs 33,800 for selling of 100 pieces.

Gold Climbs to Five-Month High on Demand on risk fears

Gold climbed to a five-month high in London on signs of increased demand for the metal as an alternative to the euro and other currencies.
Bullion rose to records in euros, Swiss francs and British pounds, extending gains this year as concern about sovereign debts in Europe spurred investors to seek a hedge. Government workers in Greece, which is being bailed out by the European Union and the International Monetary Fund, began the first day of a 48-hour strike against budget cuts.

“Gold is incorporating a premium due to currency and default risk,” said Bayram Dincer, an analyst at LGT Capital Management in Pfaeffikon, Switzerland. “There is a high risk aversion among gold investors, and it’s all about safe haven.”

Bullion for immediate delivery jumped as much as $6.95, or 0.6 percent, to $1,189.13 an ounce, the highest intraday price since Dec. 4, and was at $1,186.80 at 12:03 p.m. local time. Futures for June delivery rose 0.3 percent to $1,186.90 on the Comex in New York.

Prices in dollars are still 3.2 percent below the record $1,226.56 an ounce on Dec. 3. That signals more confidence in the dollar than European currencies or the yen, Dincer said. Gold has gained 8.1 percent this year in dollars, 9.9 percent in yen, 14 percent in Swiss francs and 18 percent in euros.
Higher ‘Fixing’

Gold rose to $1,184.25 an ounce in the morning “fixing” in London, used by some mining companies to sell production, from $1,179.25 at the afternoon fixing on April 30. No fixing took place yesterday, when U.K. financial markets were closed for a national holiday.

Bullion will trade at $1,100 an ounce in six months and $1,050 in a year, below previous forecasts of $1,250 and $1,175, Robin Bhar, an analyst at Credit Agricole Corporate & Investment Bank in London, said in a report today.

GOLD SURGES ON SUSTAINED DEMAND, SILVER REGAINS RS 29-K LEVEL

MUMBAI : Gold prices surged by Rs 145 to Rs 17,170 per ten gms at the bullion market, here today on sustained buying by stockists and traders.

Silver also firmed upto regain the Rs 29-K level on persistent demand from industrial users to cover hectic stockists demand. It had hit the Rs 29,000-level on January 20 this year.

Standard gold (99.5 purity) strengthened by Rs 145 per ten grams to close at Rs 17,170 from last Friday's closing level of Rs 17,025.

Pure gold (99.9 purity) rose by a similar margin of Rs 145 per ten grams to conclude at Rs 17,255 as against Rs 17,110 previously.

Silver ready (.999 fineness) shot up by Rs 265 per kilo to end at Rs 29,025 from Rs 28,760 previously.

Gold prices close marginally lower on Thursday

Gold prices were largely flat after reaching near five-month highs in the previous session and closed marginally lower as the safe-haven demand in gold eases as global equities rise, defying economic worries after a series of sovereign credit downgrades in Europe.


US gold futures for June delivery settled down $3 at $1,168.80 on the COMEX division of the NYMEX. Spot gold last traded at $1,168.45 an ounce, against $1,164.45 late in New York on Wednesday.