Extended Diminish in Natural Gas


Posted December 26, 2014 by amitsharma635862

Extended diminish in Natural Gas futures in the domestic and overseas market on Tuesday elevated positions in the energy commodity as milder than anticipated winter weather in the US

 
NATURAL GAS
Extended diminish in Natural Gas futures in the domestic and overseas market on Tuesday elevated positions in the energy commodity as milder than anticipated winter weather in the US, the world’s biggest consumer of the fuel, threatened to curb heating desire and bolster supplies. Betting that unusually warm weather in the near-term may limit heating desired. About 49 per cent of US households used Natural Gas for heating purposes . In MCX, Natural Gas futures for December 2014 contract ended at Rs 198.90 per 1 kg, downward by 1.29 per cent after opening at Rs 202, against the last ending price of Rs 201.5 It touched the intraday low of Rs 197 till the ending.

GOLD
A little bit of losses in Gold futures, the domestic market on Wednesday cautious over booking fresh positions in the precious metal as a sink in holdings in gold-backed exchange traded products (ETP) signaled weak investment desire for the bullion. Holdings in the SPDR Trust, the world’s largest gold-backed ETP slided down the most in 18 months, down 1.6 per cent to 712.9 metric tons. Upbeat US Q3 GDP data raised fears of a sooner than expected rate increased by the Fed, fading the appeal of the bullion as a store of value. MCX, Gold futures for February 2015 contract is trading at Rs 26,619 per 10 gram, downwards by 0.02 per cent after opening at Rs 26,587, against the last ending price of Rs 26,625. It touched the intra-day low-laying of Rs 26,572 till the ending. (At 10:29 AM).

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Last Updated December 26, 2014