MCX News

MCX new futures contracts see increase in volumes:

New Delhi, Sept 28: Two days after the launch of Multi Commodity Ex-change of India's (MCX) new futures contracts—silver 1000 and cotton seed oil cake there has been steady rise in the trade volume of the two commodities.

      On Thursday, the volume of trade with silver 1000 was to the tune of t38 cores. On Friday, cotton seed oil cake saw a trade volume in excess of t17 cores. The two new con- tracts by MCX were launched on Thursday.

       Silver 1000 is a new futures contract with a de-liver able of 1 kg silver With Delhi, one of the largest consumers of silver in the country, as the base delivery centre. This contract will cater to the needs of small jewelers and retail investors who wish to take physical delivery of a 1kg silver bar in demat or physical form.

     "Our contracts have always tried to meet the varied needs of all the  stakeholders of a commodity's value chain. The silver 1000 contract is a unique contract that will go a long way in meeting the needs of physical market participants and retail investors," Shree Kant Javalgekar, MD & CEO, MCX said. 

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Commodity News 27 Sep 12

Crude oil to dip on rising inventories, Gold, base metals under pressure

MUMBAI (Commodity Online): Precious metals, base metals and Crude Oil prices in the evening session are expected to trade with negative bias taking cues from weak global market sentiments triggered by doubts that whether the stimulus measures announced might be enough to revive growth of the nations amidst revival of Euro zone debt crisis.

This is creating bearish market sentiments and thereby raising the risk aversion amongst market participants and increase the demand for the US Dollar Index (DX). This in turn would exert downside pressure on the commodities.

Additionally, expectation of rise in the US Crude oil inventories might drive prices of the crude oil on the downside.

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