Market Update

Market Watch

Friday, 21 February 2014

Watch Current Updates of MCX and Commodity Market

 •Gold edged down on Friday, pressured by a firmer dollar and following a rise of almost 1 per cent in the previous session, but the precious metal was close to flat for the week after two weeks of gains on a patchy recovery in the global economy. 

Gold futures fell for the second straight day as concern that the Federal Reserve will press on with cuts in U.S. monetary stimulus damped demand for the metal as an alternative asset.

Silver futures for March delivery fell 0.8 percent to $21.684 an ounce. Yesterday, the price dropped 0.2 percent, ending an 11-session rally that was the longest since March 2008.

Oil prices were mixed in Asian trade Friday as dealers weighed concerns that the Chinese economy may be losing strength against upbeat US stockpiles figures, analysts said. 

Natural gas futures slipped from a five-year high in New York after a government report showed an inventory decline that was less than prediction.

Copper futures fell to a one-week low after manufacturing shrank more than estimated in China and some Federal Reserve officials advocated further curbing of U.S. economic stimulus.

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