MCX Gold negative on strong dollar, weak global data
Gold prices at India’s Multi Commodities Exchange (MCX) were down by 0.70%. The June Contract is now trading around Rs 26755-26888 per 10gm levels.Strength in Dollar index against Yen and Euro has negatively impacted gold prices. Weak Chinese demand has also impacted precious metal prices. SPDR Gold Trust said its holdings dropped by 2.53 tons to 1051.65 tons from 1054.18 tons.
In COMEX markets, gold is down at $1431 levels.
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Latest Miscellaneous News From Commodity Market:
Cardamom futures decline on increased supply
Cardamom futures traded
low on MCX as speculators trimmed their positions. Adequate stocks availability
in the
physical market on account of higher supply from the producing belts of
Chandausi in Uttar Pradesh mainly led to
decline in Cardamom prices at futures
trade.
The contract for May delivery was trading at Rs 684.10 /Kg, down by 3.69% or Rs 26.20 from its previous closing of Rs 710.30 /Kg. The open interest of the contract stood at 631.00 lots.
The contract for June delivery was trading at Rs 751.90 /Kg, down by 0.87% or Rs 6.60 from its previous closing of Rs 758.50 /Kg. The open interest of the contract stood at 2982.00 lots on MCX.
Jeera futures trade green on domestic demand
Jeera futures were showing positive trade on NCDEX. The rise in domestic demand ahead of the festive season and improved export queries supported the prices in the market to some extent.The contract for May delivery was trading at Rs 13040.00, up by 0.62% or Rs 80.00 from its previous closing of Rs 12960.00. The open interest of the contract stood at 687.00 lots.
The contract for June delivery was trading at Rs 13125.00, up by 0.52% or Rs 67.50 from its previous closing of Rs 13057.50. The open interest of the contract stood at 14055.00 lots on NCDEX.
RM seed futures rise on export demand
RM seed futures surged on NCDEX as a result of good buying support from both exporters and upcountry buyers. Further, speculators enlarging their positions on firm demand in sport market, influenced the prices.
The contract for May delivery was trading at Rs 3,487.00, up by 0.20% or Rs 7.00 from its previous closing of Rs 3,480.00. The open interest of the contract stood at 14140 lots.
The contract for June delivery was trading at Rs 3,513.00, up by 0.06% or Rs 2.00 from its previous closing of Rs 3,511.00. The open interest of the contract stood at 93680 lots on NCDEX.
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