Tuesday, 21 May 2013 14:13
Posted by Shoaib-ur-Rehman Siddiqui
MUMBAI: Indian gold futures edged higher from their lowest level in a month, helped by global leads and a weaker rupee at home, while banks, the primary dealers of bullion, awaited policy direction after the government restricted imports on a consignment basis.At 0830 GMT, the actively traded gold for June delivery on the Multi Commodity Exchange (MCX) was 0.57 percent higher at 26,238 rupees ($480) per 10 grams, after hitting a low of 25,373 rupees in the previous session, a level last seen on April 18.India, the world's biggest buyer of the metal, banned gold imports on a consignment basis except for jewellery exporters and in January raised the import duty on gold by 50 percent to 6 percent."We have no clue how to import," said a dealer with a private bullion importing bank in Mumbai.Copyright Reuters, 2013 ...
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MUMBAI: Indian gold futures edged higher from their lowest level in a month, helped by global leads and a weaker rupee at home, while banks, the primary dealers of bullion, awaited policy direction after the government restricted imports on a consignment basis.At 0830 GMT, the actively traded gold for June delivery on the Multi Commodity Exchange (MCX) was 0.57 percent higher at 26,238 rupees ($480) per 10 grams, after hitting a low of 25,373 rupees in the previous session, a level last seen on April 18.India, the world's biggest buyer of the metal, banned gold imports on a consignment basis except for jewellery exporters and in January raised the import duty on gold by 50 percent to 6 percent."We have no clue how to import," said a dealer with a private bullion importing bank in Mumbai.Copyright Reuters, 2013 ...
SINGAPORE: New York July cocoa remains neutral, as it is still stuck in a range of $2,282-$2,364 per tonne.The range is formed by the 50 percent and the 23.6 percent Fibonacci retracements on the rise from the April 4 low of $2,126 to the May 3 high of $2,437.A drop below $2,282 will confirm the resumption of a downward wave c towards $2,245, the 61.8 percent retracement, but this wave may travel further to $2,199, ...
LONDON: Gold fell 1.1 percent to session lows on Tuesday as the dollar strengthened against a basket of currencies on uncertainty over the message that Fed Chairman Ben Bernanke will deliver when he speaks to the US Congress on Wednesday.Spot gold fell as low as $1,377.04 an ounce. It traded at $1,377.59 by 0912 GMT, still down 1 percent. US gold for June delivery touched a low of $1,376 an ounce, and was later down ...
SINGAPORE: Malaysian palm oil futures dropped on Tuesday, stretching losses into a second straight session as lower exports in the first 20 days of the month continued to drag on prices.But traders are counting on a recovery in demand later in the month as buyers stock up ahead of Ramadan, the Muslim holy month that starts early in July, when communal feasting typically drives up consumption."Classically, export demand from the Middle East and South Asia ...
MUMBAI: Indian soybean futures edged higher on Monday on thin supplies and a weak rupee, while rapeseed eased on supply pressure from the new season crop.Soyoil was treading water as sluggish demand outweighed gains in overseas markets.At 0835 GMT, the benchmark Malaysian palm oil contract was up 0.09 percent at 2,338 ringgit per tonne, while US soybeans were 0.28 percent higher at $14.52-1/2 per bushel."Soybean supplies are limited. Farmers are not selling the harvest. Oil ...
MUMBAI: Indian sugar futures were treading water on Monday as an improvement in demand due to the summer season and a drop in cane acreage outweighed ample supplies.The key June contract on the National Commodity and Derivatives Exchange was up 0.03 percent at 3,056 rupees ($55.69)per 100 kg at 0919 GMT."Sugar demand is good due to summer season. Prices are also getting support from lower cane plantation," said Subhranil Dey, an analyst with SMC Comtrade.Demand ...
SINGAPORE: London copper slipped on Monday as strong US economic data raised concerns the world's biggest economy could end its easy- money policy sooner than expected, removing a key driver of investment demand for global commodities.Worries about slowing growth in China, the world's top copper consumer, also weighed on prices.Americans felt better about their economic and financial prospects in early May as consumer sentiment rose to the highest level in nearly six years, an encouraging ...
