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Gold
closes below US$428
Gold
in the Comex division at New York lowered further on Wednesday amid
spectacular dollar gains. February delivery gold closed down $1.90
at $427.30 an ounce, after trading from $429.30 to $425.90 and staying
atop Tuesday's low at $424.80, the cheapest level since Nov. 3.
Gold was on the defensive due to the firm dollar, anticipating the
U.S. Federal Reserve will raise interest rates above those in the
Eurozone and uncertainty ahead of Friday's U.S. jobs report for
December as per the news agencies. James Moore at TheBullionDesk.com
commented that Spot gold for the moment is trading actively between
$425-427.50 as traders closely watch the dollar ahead of Friday's
non-farm payroll figures. "Short-term direction continues to come
largely from the dollar but good support has been seen ahead of
the 100-day moving average at $424.05, so far," he added. Longer-term
outlook on gold is bullish with the scale of the U.S. deficits,
geopolitical tensions and lots of recent investment in the market
supporting the argument for holding the metal, he said.
At
the domestic market Gold for February delivery at MCX opened at
6171, lost Rs21 during the day touching Rs6150 but in the second
session gained some momentum and ended flat at Rs6169.
Maize
and Gur futures at NCDEX
National
Commodities and Derivatives Exchange on Tuesday launched maize and
gur futures trading that adds up 2 more products to its agri-commodities
basket. According to news resources, Mr A. Venkateshulu, General
Manager of Andhra Pradesh Co-operative Marketing Federation (Hyderabad),
and Mr Amrutlal of Amrutlal & Company (Nizamabad) kicked off
the futures trading in maize. The contracts in maize trading are
available for February, March and April. The quality available for
trading in maize would be yellow/red maize and the unit of trading
and delivery unit both would be 50 metric tonnes. The exchange has
assigned six warehouses for physical delivery. Nizamabad will be
the major delivery centre, while Davangere, Karimnagar, Nimbheda,
Ratlam and Bahraich will be additional centres.
In
the case of gur, contracts have been made available for February,
March and April. The unit of trading and delivery unit would be
10 metric tonnes. The quality of gur available for trading is dry
golden gur of Chaku type. The exchange has assigned four warehouses
for physical delivery. Muzaffarnagar would be the major delivery
centre and Hapur, Kolhapur and Jehangirabad additional delivery
centres, as per the news agencies.
Rubber
eases on inactive buying
Putting
a brake to the domestic rubber prices, it slipped on Wedneday as
manufacturers, covering groups and major stockists put a halt to
their procurement. At the physical domestic market, RSS 4 slipped
to Rs 54.25 from Rs 54.75 a kg previous day. According to news bureau,
traders preferred to reduce their stocks to be on the safer side
but ungraded rubber closed steady on moderate demand from the general
rubber goods sector and north Indian buyers. ISNR 20 was also static
but inactive, while the other grades lost during a rather dull trading
session.
The
rubber futures continued to stay in the bearish orbit while the
January delivery was quoted at Rs 53.80 against Rs 54.10 a kg on
Wednesday. The near month February delivery was quoted at Rs 54.85
(Rs 55.16), March delivery at Rs 56.05 (Rs 56.31), and April delivery
at Rs 57.44 (Rs 57.56) per kg for RSS 4. The transactions were not
impressive.
Comm
Daily 05th Jan
|
MCX
|
|
|
|
|
|
|
|
|
|
Open
|
High
|
Low
|
Close
|
%ge
Change
|
Volume
Traded
|
Open
Interest
|
|
Gold
Feb
|
6171
|
6182
|
6150
|
6169
|
-0.03
|
3152
|
4897
|
|
Gold
April
|
6188
|
6205
|
6162
|
6198
|
0.16
|
52
|
158
|
|
|
|
|
|
|
|
|
|
|
Silver
March
|
9950
|
10078
|
9882
|
10035
|
0.85
|
463050
|
303570
|
|
Silver
May
|
10020
|
10088
|
9975
|
10035
|
0.15
|
600
|
3810
|
|
|
|
|
|
|
|
|
|
|
Ref
Soy Oil Jan
|
391
|
392.5
|
389.3
|
392.3
|
0.33
|
15830
|
8350
|
|
Ref
Soy Oil Feb
|
384.8
|
386
|
382.1
|
385.3
|
0.13
|
6670
|
9080
|
|
|
|
|
|
|
|
|
|
|
Kapas
April
|
331.4
|
332.5
|
331
|
332.1
|
0.21
|
288
|
8088
|
|
NCDEX
|
|
|
|
|
|
|
|
|
|
Open
|
High
|
Low
|
Close
|
%ge
Change
|
Volume
Traded
|
Open
Interest
|
|
Castor
Jan
|
307.40
|
312.00
|
307.40
|
309.20
|
0.59
|
1540
|
4400
|
|
Castor
Feb
|
304.10
|
308.00
|
304.00
|
305.90
|
0.59
|
2180
|
3900
|
|
|
|
|
|
|
|
|
|
|
Soya
Bean Jan
|
1283.00
|
1283.00
|
1274.15
|
1279.35
|
-0.28
|
14190
|
47370
|
|
Soya
Bean Feb
|
1281.30
|
1282.90
|
1271.05
|
1278.25
|
-0.24
|
17900
|
103380
|
|
|
|
|
|
|
|
|
|
|
Guar
Gum Jan
|
3747.00
|
3764.00
|
3721.00
|
3743.00
|
-0.11
|
1325
|
8970
|
|
Guar
Gum Feb
|
3824.00
|
3835.00
|
3800.00
|
3816.00
|
-0.21
|
1405
|
8445
|
|
|
|
|
|
|
|
|
|
|
Guar
Seed Jan
|
1453.00
|
1467.00
|
1447.00
|
1460.00
|
0.48
|
33800
|
62310
|
|
Guar
Seed Feb
|
1480.00
|
1490.00
|
1469.00
|
1482.00
|
0.14
|
51870
|
65570
|
Disclaimer:
We take due care in compilation of data, but under no circumstances
shall we be legally responsible for the outcome of any action taken
on the basis of information given in this newsletter. Investors
must make their own investment decisions based on their specific
investment objectives and financial position and using such independent
advisors as they believe necessary.Indiainfoline takes no legal
responsibility for accuracy or completeness of information or advice
given. This material is for personal use only."India Infoline Ltd
(IIL) and India Infoline Commodities Pvt. Ltd (IICPL) do not have
any positions in any of the commodities recommended and which are
currently displayed on the site www.indiainfoline.com and www.5paisa.com.
IIL and IICPL do not do any deals on their own account (proprietary
trading) except for testing and demonstration purposes. IIL and
IICPL also has an internal compliance manual in place which restricts
the team who analyze and gives information on various commodities
and investment opportunities, to place orders on commodity futures
only through IICPL and only after the said recommendation has been
displayed on the above mentioned websites
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