Spot gold, silver traded higher in major Mumbai, Ahmedabad and New Delhi Thursday as some buying emerged after yesterday’s decline. Traders remained dormant amid lack of clear cues.
In Mumbai, 995- standard gold traded at Rs 23,331 and 999- pure traded at Rs 23,432. In Delhi, 995 quoted at Rs 23,300 and 999 at Rs 23,420 and in Ahmedabad 995 traded at Rs 23,306 and 999 at Rs 23,382. (Prices in per 10 gm)
Silver in Mumbai traded at Rs 59,792, in Delhi at Rs 58,000 and in Ahmedabad at Rs 58,430. (Prices in per kg).
Crude oil continues to trend up. However Naimaks selling pressure on crude oil remains above $ 98. The Brent crude also has come under $ 118.
Base metals are traded on the decline today. On MCX, Copper, including base metals have declined by half a per cent. Zinc is the most has declined. The gold - silver is even today continues to be strong.
Guar has picked up strongly today. Rs 13,500 over August futures on NCDEX guar gum has a new record. The guar seed business in 4300 is over Rs.
Government by 10 million tonnes of non-basmati rice exports have started the application process. The MEP has been fixed at $ 400 a tonne export. Government announces export allocations by July 27. According to notification issued by the DGFT on the basis of first come first served will apply only until Friday as an exporter.
Crude oil is ready to break the $ 100 level. Naimeks sense of the crude oil is approaching $ 100. Greece and the bailout package expected to decline in the dollar got support from crude oil.
Epic Research says about MCX India that Silver trading range for the day is 41630-42260.
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