Mcx commodity tips: Gold futures ended lower in the domestic market on Friday as investors and speculators exited positions in the precious metal tracking a weak trend in the overseas market as easing geopolitical concerns regarding Yemen curbed the demand for the bullion as an alternative asset. At the MCX, Gold futures for April 2015 contract ended at Rs 26,569 per 10 gram, down by 0.87 % after opening at Rs 26,675, against the previous ending price of Rs 26,801. It touched the intra-day low of Rs 26,387 till the ending.
Zinc futures closed lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal after industrial profits in China, the world’s biggest metals consumer, fell the most since 2012 in the first two months of the year, signaling a worsening economic slowdown, darkening the demand outlook for zinc. At MCX, Zinc futures for March 2015 contract ended at Rs 130.20 per 1 kg, down by 0.53 % after opening at Rs 130.10, against the previous ending price Rs 130.90. It touched the intra-day low lying of Rs 129 till the ending.
Chana prices ended maximum per 0.08 % on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good desired in the market. At the NCDEX, chana futures for April 2015 contract ended at Rs. 3,614 per quintal, up by 0.08 %, after opening at Rs. 3,608 against the last ending price of Rs. 3,611. It touched the intra-day maximum of Rs. 3,629.
Mustard Seed prices ended lower by 0.35 % on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the profit booking by the traders on account of the weak crushing and export desired of mustard meal. At NCDEX, Mustard Seed futures for April 2015 contract ended at Rs. 3,370 per quintal, down by 0.35 %, after opening at Rs. 3,380 against the last ending price of Rs. 3,382. It touched the intra-day low of Rs. 3,357. EU-27 accounts to about 34 % of worlds RM seed production, others major producers are China (23 %), Canada (19 %), India (14 %), Australia (3 %), Ukraine (2 %). India produces 5.5 million MT to7 million MT annually.
Crude oil futures jumped in the domestic market on Friday as investors and speculators exited positions in the energy commodity amid speculation that Saudi Arabia’s air strikes in Yemen may not have a major impact on global crude supplies at a time when US is pumping oil at the fastest clip in over three decades. Meanwhile, US oil rig count slide by the least in 15 weeks, downward by 12 to 813 last week, a sign that the drilling slowdown amid a price slump is tapering. At MCX, Crude oil futures, for the April 2015 contract, ended at Rs 3,628 per barrel, down by 1.52 %, after opening at Rs 3,610, against the previous close price of Rs 3,684. It touched an intraday low of Rs 3,610 till the ending.