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The big news

Base metal indicators

22 October 2014

China, Japan and the US exhibited better statistics, which may extend support to the base metals and their prices, as expected to rise. In last session base metals registered 1% surge in their prices.


Japan’s export-import strengthened

The export and import in Japan grew unexpectedly in September. As compared with previous year’s data, Japan recorded 6.9% growth in export. Simultaneously import also raised by 6.2%.


Sale of houses in US rises unexpectedly  

Sale of new houses in the US rose in September beyond expectation.  51.70 lakh houses were sold in September itself whereas in August 50.5 lakh houses were sold. Rise in real estate in the US may boost the prices of base metals.


GDP growth in China

In 3rd quarter, the gross domestic products in China rose by 7.3% while the market had expected 7.2%. Apart from GDP, China also improved in their Industrial Production. In September China recorded 8% growth in industrial production, while the market undermined it 7.5%. 

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Where will Gold on the eve of Diwali?

22 October 2014

Gold reached near 6-week high in domestic market on the auspicious occasion of Dhanteras, that fell on Tuesday, two days before Diwali. Gold touched the upper level of Rs. 27, 640 per 10 gm on MCX, which is also the highest in past one and half month. In previous session it also touched 6-week high in global market.


Recovery in dollar may put an impact today

Recovery in dollar may influence the prices today. Dollar has recovered against euro after touching the lower level of the week. Euro against dollar is currently around $1.270, while on Tuesday it reached $1.283.


Investment demand may fall after Japan’s export recovery   

Japan has improved a lot in export, which can influence the investment demand in gold and it may reduce. In September, Japan recorded 6.9% growth in export, which is highest in last seven month, while expert had estimated 6.5 %. Japan also increased in import during the month of September.

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Dollar, Eruo, Pound, Yen and Yuan against Rupee

22 October 2014

Current exchange rate of the major currencies of the world against Indian currency…


Currency Against RUPEE


Open Price

Previous Close






















Dollar Index at 85.28, -0.08


Corn falls from a week high

22 October 2014

Corn fell after increasing the most in a week on expectations that prospects for drier weather in parts of the US will allow farmers to accelerate harvesting of a record crop. Wheat rose for a second day.


The contract for December delivery lost as much as 0.4 % to $3.545 a bushel on the Chicago Board of Trade. It was at $3.5525. Prices climbed 2.2 % during the previous session, the largest gain since Oct. 14.


Current month upsurge

Corn surged 11 % this month as rain delayed harvesting in the US, the top grower. About 31 % of the crop was collected as of Oct. 19, trailing the five-year average of 53%, US Department of Agriculture data show. Light showers in the Midwest will only result in minor interruptions, allowing corn and soybean progress to improve, Commodity Weather Group LLC said in a report.


US corn output to enhance

US corn production is set to reach a record 14.475 billion bushels this year and the soya bean crop will climb to an all-time high of 3.927 billion bushels, the USDA said Oct. 10.


Soybeans for November delivery traded at $9.625 a bushel from $9.6425. Wheat for delivery in December advanced 0.3 % to $5.2075 a bushel.

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Zinc bounces back prior to China PMI

22 October 2014

Zinc took a bounce back from the lowest in more than three months before a report projected to show sustained manufacturing expansion in China, the biggest consumer of industrial metals.


The metal rose as much as 0.6 % in London, gaining for the first time in three days. A preliminary manufacturing gauge from HSBC Holdings Plc and Markit Economics for October will be 50.2, unchanged from the previous month, a survey predicted. A reading above 50 indicates expansion. Chinese economic growth and domestic sales in the US beat projections.

 Global demand to exceed

Global zinc demand will exceed production by 403,000 metric tons in 2014 and 366,000 tons in 2015, the International Lead and Zinc Study Group said Oct. 17. World demand will rise 5.1 % this year, driven mainly by increasing usage in China for galvanized steel sheet production, according to the group.


Investors are refocusing on stronger fundamentals for zinc after recent declines, as per a korean metals trader. “They will closely watch Chinese manufacturing data tomorrow for direction.” The trader opined.


Zinc climbs on LME

Zinc for delivery in three months on the London Metal Exchange climbed 0.2 % to to $2,215.25 a ton at in Tokyo. The metal closed at $2,210 in previous session, the lowest since July 1. Stockpiles tracked by the LME fell for a 29th day to 719,925 tons, the lowest since Aug. 12.


Copper in London was little changed at $6,656.75 a ton after gaining 1.7 % previous day, the most since Sept. 16. In New York, futures for December delivery slid 0.3 % to $3.0205 a pound, while the contract for the same month in Shanghai climbed 1.3% to 47,130 Yuan ($7,702) a ton.


On the LME, aluminum and lead declined, while nickel and tin were unchanged.

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Gold touches highest in six week, as Diwali demand impelled

22 October 2014

Gold traded near the highest in six weeks on signs of increasing demand in India, the biggest user after China, spurred by the Diwali festival and wedding season.


Bullion for immediate delivery added as much as 0.3 % to $1,251.90 an ounce and was at $1,247.56 in Singapore. Prices climbed to $1,255.34 in previous session, the highest since Sept. 10.


Gold added 3.3 % this month as equities fell after the Internal Monetary Fund cut its growth outlook and Federal Reserve policy makers said slowing foreign economies were a risk to US expansion. Demand in India noticeably strengthened before Diwali after gold traded near this year’s lows in the month or so before the festival.


Diwali festivity

Diwali, the festival of lights celebrated by the country’s more than 800 million Hindus tomorrow, is considered an auspicious time for buying gold. Researcher CPM Group estimates the holiday generates about a fifth of the country’s annual purchases. India’s imports probably surged to 95 metric tons last month from 15 tons to 20 tons a year earlier, the All India Gems & Jewellery Trade Federation estimates.


Gold on New York commodity exchange

Gold for December delivery declined 0.3 % to $1,248.10 an ounce on the Comex in New York, snapping a two-day advance. Silver for immediate delivery was at $17.4810 an ounce from $17.5145 in previous session. Platinum fell 0.3 % to $1,276.63 an ounce and palladium lost 0.5 % to $773 an ounce.


Gold touched $1,183.24 on Oct. 6, the lowest this year. Prices have tumbled 28 % in the past two years as the Fed signaled an end to stimulus measures intended to revive the US economy, while inflation remained in check.

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Crude rises as fuel inventories to shrink, Brent stable

22 October 2014

Crude oil rose for a second day before a report that may show motor-fuel inventories shrank to a two-year low in the US, the biggest oil consumer. Brent was steady in London.


December futures climbed as much as 0.5 % in New York. Gasoline stockpiles fell by 1.45 million barrels to 204.2 million. That would be the lowest since November 2012. Inventories slid by 500,000 barrels through Oct. 17, the American Petroleum Institute reported previously, according to Bain Energy.


Oil is paring its collapse into a bear market as banks including BNP Paribas SA and Bank of America Corp. predict the rout may be over. They’re in part counting on the Organization of Petroleum Exporting Countries to reduce supply as the US pumps the most oil in almost three decades. 


Prices above $82 a barrel

Crude for December delivery gained as much as 38 cents to $82.87 a barrel in electronic trading on the New York Mercantile Exchange and was at $82.59. The November contract expired previous day  after rising 10 cents to $82.81. The volume of all futures traded was about 47 % below the 100-day average. Front-month prices have decreased 16 % this year.


Crude supplies

Brent for December settlement was up 1 cent at $86.23 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude was at a premium of $3.65 to WTI for the same month, compared with $3.73 in previous session.


Crude stockpiles in the US increased by 3 million barrels last week.  That would be a third weekly advance. Supplies rose by 1.2 million, according to the industry-funded API.


OPEC’s response

OPEC’s largest producers are responding to the slump in futures by cutting export prices, bolstering speculation that they will compete for market share rather than reduce supply. The group, which pumps about 40 percent of the world’s crude, is scheduled to meet Nov. 27 in Vienna

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Stock position of base metals on LME till Oct.21

21 October 2014

Stocks position of copper, nickel, zinc, lead, and aluminum on the London Metal Exchange, LME.


Stock position on LME Oct.21


Stocks rise/fall











Stocks in tones

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Coriander gains Rs. 100

21 October 2014

After a fall, price of coriander is getting strengthened with rise in buying. Coriander is trading on NCDEX with a gain of Rs. 100 at the level of Rs. 12,050 per quintal. During the trading price touched the upper level of Rs. 12, 118. Coriander is also trading at higher level at spot market also. In the Mandi of Kota, rate enhanced Rs. 30 to Rs. 11, 327 per quintal.   On Monday, in the Mandi of Aroor in Kerela, price of coriander was recorded Rs. 14, 700 per quintal.


 NCDEX coriander stocks go up

Stocks of coriander in NCDEX warehouses rose on Monday. Till Sunday, the warehouses had 967 tones of coriander which increased to 1,027 tones on Monday.  Warehouses of Kota stocks went up 70 tones to 529 tones. While the warehouses of Ramganj and Baran remained unchanged with stocks of 209 tones and 10 tones respectively.


Rise in stocks of coriander


Stocks  (19.10.14)

Stocks (20.10.14)






















Stocks in tones



Spice trader of Mubbai and member of Spice Board, Mukesh Mehta says that there is no significant influence of future market on spot market. There is good yield of coriander this year which may affect the prices. With increase in the stocks of coriander, prices may fall in coming days.

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Base metals indicators

21 October 2014

Base metals seem to be strengthening after better economic figures appeared from China and weakened US doll.  However, in last session, base metals registered 3% fall in their prices. What are the statistics that affect the movement of base metals? Let’ us come to have a look on movement of base metals.


Unexpected GDP upsurge in China

In 3rd quarter, the gross domestic products in China rose by 7.3% while the market had expected 7.2%.  The improved GDP may help China to attain 7.5% growth rate. However, the International Monetary Fund estimated China’s growth 7.1% this year. If it so happens, then, it will be the lowest growth after 1990. Apart from this, there is improvement in Industrial production also. In September China has 8% recorded industrial production growth while the market undermined it 7.5%. in August industrial growth in China was recorded 6.9%. Better economic figures indicate increase in base metals in China.


Dollar weakens against Euro

US dollar weakened against the major currencies of the world. Dollar plummeted against euro this week to the lower level. Euro is trading against dollar around $1.281.

Dollar Index has once again come below 85. With a slack it trades on the Index on 84.98. Dollar Index fell on Monday to 84.90.


Rupee may get support after a fall in dollar

With slacks in US currency, Indian Rupee may get strengthened. Rupee closed on Monday with a rise and even today it is to open with upsurge. However, with rise in Rupee today, prices of base metals in domestic market may get boost. And any break will be visible after a big upsurge.

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Live Video


Gold(Mumbai) 26,980 [+270] Gold(Delhi) 27,100 [+270] Gold(Chennai) 27,050 [+260Gold(Jaipur) 26,850 [+200] Silver(Delhi) 39,190 [+330] Silver(Mumbai) 39,190 [+330] Silver(Chennai) 39,190 [+330] Silver(Jaipur) 39,500 [+900] Chana(Rajkot) 2,550 [00Chana(Bikaner) 2,651 [+18] Dhaniya(Rajkot) 9,750 [+250] Jeera(Rajkot) 9,000 [00] Mustard Seed(Rajkot) 3,000 [00] Maize(Rajkot) 1,325 [-25] Wheat(Rajkot) 1,500 [-25] Wheat(Indore) 1,480 [00] Guar Seed(Bikaner) 5,537 [+228]



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Gold reached near 6-week high in domestic market on the auspicious occasion of Dhanteras, that

Corn fell after increasing the most in a week on expectations that prospects for drier weather in

Stocks position of copper, nickel, zinc, lead, and aluminum on the London Metal Exchange, LME.


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