Market Update

Market Watch

Thursday, 12 June 2014

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Gold Prices Surged Today : Gold prices rose further in the domestic bullion market today due to continued buying from jewellery stockists and retail consumers, driven by a strong global sentiment. 
Silver, too, witnessed a sharp movement, due to a heavy speculative offtake coupled with higher industrial offtake . Standard gold (99.5 purity) spurted by Rs 100 to end at Rs 26,800 per 10 grams from overnight Rs 26,700.
Palladium steadied near a more than 13-year high on Thursday as supply concerns from a Five-month strike in No.2 producer South Africa triggered buying from industrial users and investors. Palladium, used in jewellery and catalytic converters to clean exhaust emissions - chiefly of gasoline-powered vehicles, has gained more than 20 percent so far this year, overshadowing its sister metal platinum that has risen about 8 percent. 

Crude palm oil prices fell for the third consecutive day by losing 0.22 per cent to Rs 510.30 per 10 kg in futures market today as speculators offloaded positions due to sluggish demand in the spot market. At the Multi Commodity Exchange, crude palm oil for delivery in June fell Rs 1.10, or 0.22 per cent to Rs 510.30 per 10 kg in a business turnover of 22 lots.

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