Gold, silver, copper, nickel, lead, zinc, aluminium and crude oil futures prices increased on the Multi Commodity Exchange as speculators covered short positions or added long positions amid rising demand or firming trends in domestic and global spot markets. Mentha oil and natural gas futures declined as traders trimmed positions due to weak demand from consuming industries or profit taking from recent rallies. Cotton exports are expected to be lower than estimated due to a slowdown in China and higher domestic prices initially.

2. Gold Futures
 Gold futures recovered by 0.27 per cent to
Rs 25,857 per 10 grams today as speculators
covered-up their short positions at prevailing
levels amdist pick-up in demand in spot
markets.
 At the Multi Commodity Exchange, gold for
delivery in December rose by Rs 69, or 0.27
per cent, to Rs 25,857 per 10 grams with a
business turnover of 609 lots.
 In a similar fashion, the metal for delivery in
February next year moved up by Rs 42, or
0.16 per cent, to Rs 26,012 per 10 grams
with a trade volume of 7 lots.

3. Silver Futures
 Silver futures rose by 0.3% to Rs 34,800 per kg
today after participants covered-up their short
positions at prevailing levels even as the metal
remained weak overseas.
 At the Multi Commodity Exchange, silver for
delivery in December was up by Rs 105, or
0.30%, to Rs 34,800 per kg in a business
turnover of 644 lots.
 Similarly, the white metal for delivery in March
2015 traded higher by Rs 96, or 0.27%, at Rs
35,480 per kg in a turnover of 32 lots.
 In the international market, silver declined by
0.30% to $15.64 an ounce in Singapore.
 Analysts said the rise in silver prices was mostly
due to covering-up of short positions by
speculators but a weak trend in global markets,
limited the gains.

4. Copper Futures
 Copper futures traded a shade higher at Rs 411.70
per kg as speculators enlarged positions after base
metal strengthened overseas amid pick-up in spot
demand.
 At the Multi Commodity Exchange, copper for
delivery in November edged up by 65 paise, or
0.16%, to Rs 411.70 per kg in a business turnover of
724 lots.
 Likewise, the metal for delivery in February 2015
traded higher by 45 paise, or 0.11%, to Rs 417.30
per kg in 25 lots.
 Market analysts attributed the rise in copper
futures to a firming trend overseas before factory
output data from China and employment figures
from the US.
 Meanwhile, copper for delivery in three months
traded little changed at $6,678 a tonne at the
London Metal Exchange. In Shanghai, metal for
January delivery rose 0.1% to 47,370 yuan ($7,732)
per tonne.

5. Nickel Futures
 Nickel prices edged higher by 0.48% to Rs 960.60
per kg in futures trading today as speculators
created fresh positions amid rising demand at
domestic spot markets.
 However, the metal's weakness at the London
Metal Exchange (LME) capped the gains.
 At the Multi Commodity Exchange, nickel for
delivery in November rose by Rs 4.60, or 0.48%, to
Rs 960.60 per kg in a business turnover of 633 lots.
 The metal for delivery in December also rose by Rs
4.50, or 0.47%, to Rs 967.10 per kg in 16 lots.
 Market analysts said a firming trend at the spot
markets on the back of pick-up in demand from
alloy makers mainly influenced nickel futures here
but a weak trend in select base metals at the LME
limited the gains.

6. Lead Futures
 Lead futures rose by 0.20% to Rs 126.85 per
kg today as speculators enlarged positions
amid rise in domestic spot demand from
battery makers.
 At the Multi Commodity Exchange, lead for
delivery in December traded higher by 25
paise, or 0.20%, at Rs 126.85 per kg, with a
turnover of three lots.
 While, the commodity for delivery in current
month moved up by 15 paise, or 0.12%, to Rs
125.90 per kg in a turnover of 159 lots.
 Market men said a firming trend at the
domestic spot markets on the back of rising
demand from battery makers influenced
lead prices at futures trade but a weak trend
overseas restricted gains.

7. Zinc Futures
 Zinc dipped 1.47% on India's Multi Commodity
Exchange (MCX) on Friday morning trade. LME
Zinc prices slips below $2300 a ton as investors
from globe book profit after prices reached to
multi week highs in recent days.
 According to Amrita Mashar, Market Research
Analyst at Commodity Online, the trend in Zinc
August delivery on MCX looks bearish for the
day. Intra-day traders are advised to stay on
selling side.
 “For intra-day, support for the commodity is
seen at 140 and below that it may test level of
139.20 while resistance is seen at 140.80 and
above that it may test level of 141.50,” she said.
 Near term, Zinc futures are likely to remain on
selling side and may touch level 138 in coming
days, she added.

8. Aluminium Futures
 Aluminium prices fell 0.40% to Rs 125.65 per kg
in futures trading today as speculators reduced
exposure amid weak global trend.
 At the Multi Commodity Exchange, aluminium
for delivery in December declined by 50 paise,
or 0.40%, to Rs 125.65 per kg in business
turnover of 27 lots.
 Similarly, the metal for delivery in the November
contract traded lower by 45 paise, or 0.36%, to
Rs 125.60 per kg in 444 lots.
 Analysts said speculators offloaded their
positions in tandem with a weakness in metal at
the London Metal Exchange and subdued
domestic demand, mainly influenced aluminium
prices at futures trade.

9. Natural Gas Futures
 Natural gas prices fell sharply on Tuesday,
extending steep losses from the previous
session as investors cashed out of the market to
lock in gains from a recent rally which took
futures to four-month highs.
 On the New York Mercantile Exchange, natural
gas for delivery in December fell by as much as
3.05% to touch a daily low of $4.136 per million
British thermal units.
 Prices last traded at $4.147 during U.S. morning
hours, down 10.8 cents, or 2.55%.
 A day earlier, natural gas prices hit $4.544, the
most since June 26, before turning lower to end
at $4.255, down 15.7 cents, or 3.56%.
 Futures were likely to find support at $4.119 per
million British thermal units, the low from
November 6, and resistance at $4.544, the high
from November 10.

10. Crude oil Futures
 Crude oil futures fell by 0.11% to Rs 4,751 per
barrel today as speculators trimmed positions
amidst a weak trend in Asian markets.
 The trading sentiment turned weak in futures trade
on a stronger US dollar and expectations that the
OPEC cartel is unlikely to cut production levels to
counter a global supply glut, analysts said.
 At the Multi Commodity Exchange, crude oil for
delivery in current month shed Rs 5, or 0.11%, to Rs
4,751 per barrel in 1,192 lots.
The oil for December delivery moved down by a
similar margin to trade at Rs 4,776 per barrel in a
volume of 200 lots.
 Meanwhile, West Texas Intermediate (WTI) crude
oil for December delivery was down by 15 cents to
$77.03 a barrel, while Brent crude shed 37 cents to
$80.01 per barrel in late-morning trade on the New
York Mercantile Exchange.

11. Menthaoil Futures
 Menthaoil prices eased by 0.19% to Rs 692.70 per
kg in futures trading today as traders trimmed
positions due to sluggish demand from consuming
industries in the spot market.
 Besides, adequate stocks position in the physical
market on increased arrivals from Chandausi in
Uttar Pradesh put pressure on menthaoil prices.
 At the Multi Commodity Exchange, menthaoil for
delivery in November eased by Rs 1.30, or 0.19%, to
Rs 692.70 per kg in a business turnover of 117 lots.
 Similarly, the oil for delivery in December shed Re 1,
or 0.14%, to Rs 703.50 per kg in 20 lots.
 Analysts said offloading of positions by speculators
due to weak demand from consuming industries in
the spot market mainly kept pressure on menthaoil
prices at futures trade.

12. CPO Futures
 Crude palm oil prices rebounded by
0.31% to Rs 451.80 per 10 kg in futures
trade today as speculators created fresh
positions amid pick-up in demand in spot
markets against tight supplies from
producing regions.
 At the Multi Commodity Exchange, crude
palm oil for delivery in November moved
up by Rs 1.40, or 0.31% to Rs 451.80 per
10 kg in business turnover of 81 lots.
 Similarly, the oil for delivery in December
traded higher by Rs 1.30, or 0.29% to Rs
457 per 10 kg in 116 lots.
 Analysts attributed the rise in crude palm
oil futures to fresh positions built-up by
speculators after demand picked-up in the
spot market against tight supplies from
producing belts.

13. Cardamom Futures
 Cardamom prices moved up by 0.27% to Rs
893.50 per kg in futures trade today as
speculators created fresh positions amid
pick-up in spot market demand against
limited arrivals from producing regions.
 At the Multi Commodity Exchange,
cardamom for delivery in January edged
higher by Rs 1.40, or 0.27%, to Rs 893.50 per
kg in a business turnover of 13 lots.
 Similarly, the spice for delivery in December
traded higher by Rs 1.30, or 0.14%, to Rs
864.50 per kg in 307 lots.
 Analysts said speculative fresh positions built
by speculators, driven by pick-up in demand
in the spot market against restricted arrivals
from producing belts, mainly led to the rise
in cardamom prices at futures trade.

14. Cotton Futures
 Cotton export has started to pick up, with the new
season (October to September) having begun, but is
unlikely to meet the estimates put forward by the
Cotton Advisory Board (CAB).
 The Board, under the Union textile commissioner,
has estimated total export in 2014-15 at nine
million bales (a bale is 170 kg), about 23 per cent
lower from the previous year’s export of 11.7 mn
bales. Analysts believe the total might be no more
than 7-7.5 mn.
 Prerana Desai, head of research with
Edelweiss Commodities, said: “We see exports
almost 20 per cent lower than what has been
estimated by CAB. China, a big buyer is facing a
slowdown and the government there is pushing for
use of higher local material.” Two-thirds of our
cotton export go to China.
 Export had been at a near-standstill for some time.
Four months earlier, India’s cotton prices were 22
cents a pound higher than the global level. This has
since dropped and our prices are about six cents a
pound higher.

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