Market Update

Market Watch

Monday, 13 January 2014

MCX Bullion Market & NCDEX Market News Updates By Money CapitalHeight

MCX Bullion Market News 
•Gold gained the most in a week after payrolls
•Silver futures for March delivery gained 2.7 percent
•Crude gained the most in a month as worse-than-expected jobs data
•Copper advanced, paring a second weekly drop 


Gold gained the most in a week after payrolls in the U.S. climbed less than projected, increasing speculation that the Federal Reserve will slow the pace of cuts to economic stimulus. Silver also jumped. Silver futures for March delivery gained 2.7 percent to $20.223 an ounce on the Comex, the steepest climb since Jan. 2. West Texas Intermediate crude gained the most in a month as worse-than-expected jobs data reduced concern that the Federal Reserve will further pare bond buying.
 
NCDEX Market News 
•Jeera futures went up by 0.56 per cent as traders seem to be buying.
•Mentha Oil futures continued its downtrend went down by 0.48 per cent.
•Turmeric futures went down by 0.73 per cent as profit booking took place.
 

India Jeera exports are likely to cross 100,000 tn by end of March 2014. Because of lower prices and good quality international buyers including European Union countries and US are attracted to India. Indian jeera prices in international market were about $2,000-2,200 per tn while Jeera those from Turkey and Syria were costing about $ 2,800/tn.

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