Gold Futures

Gold futures recovered by 0.27 per cent to Rs 25,857 per 10 grams today as speculators covered-up their short positions at prevailing levels amdist pick-up in demand in spot markets.

At the Multi Commodity Exchange, gold for delivery in December rose by Rs 69, or 0.27 per cent, to Rs 25,857 per 10 grams with a business turnover of 609 lots.

In a similar fashion, the metal for delivery in February next year moved up by Rs 42, or 0.16 per cent, to Rs 26,012 per 10 grams with a trade volume of 7 lots.

Silver Futures Silver futures rose by 0.3% to Rs 34,800 per kg

today after participants covered-up their short positions at prevailing levels even as the metal remained weak overseas.

At the Multi Commodity Exchange, silver for delivery in December was up by Rs 105, or 0.30%, to Rs 34,800 per kg in a business turnover of 644 lots.

Similarly, the white metal for delivery in March 2015 traded higher by Rs 96, or 0.27%, at Rs 35,480 per kg in a turnover of 32 lots.

In the international market, silver declined by 0.30% to $15.64 an ounce in Singapore.

Analysts said the rise in silver prices was mostly due to covering-up of short positions by speculators but a weak trend in global markets, limited the gains.

Copper Futures

Copper futures traded a shade higher at Rs 411.70per kg as speculators enlarged positions after basemetal strengthened overseas amid pick-up in spotdemand.

At the Multi Commodity Exchange, copper fordelivery in November edged up by 65 paise, or0.16%, to Rs 411.70 per kg in a business turnover of724 lots.

Likewise, the metal for delivery in February 2015traded higher by 45 paise, or 0.11%, to Rs 417.30per kg in 25 lots.

Market analysts attributed the rise in copperfutures to a firming trend overseas before factoryoutput data from China and employment figuresfrom the US.

Meanwhile, copper for delivery in three monthstraded little changed at $6,678 a tonne at theLondon Metal Exchange. In Shanghai, metal forJanuary delivery rose 0.1% to 47,370 yuan ($7,732)per tonne.

Nickel Futures

Nickel prices edged higher by 0.48% to Rs 960.60per kg in futures trading today as speculatorscreated fresh positions amid rising demand atdomestic spot markets.

However, the metal's weakness at the LondonMetal Exchange (LME) capped the gains.

At the Multi Commodity Exchange, nickel fordelivery in November rose by Rs 4.60, or 0.48%, toRs 960.60 per kg in a business turnover of 633 lots.

The metal for delivery in December also rose by Rs4.50, or 0.47%, to Rs 967.10 per kg in 16 lots.

Market analysts said a firming trend at the spotmarkets on the back of pick-up in demand fromalloy makers mainly influenced nickel futures herebut a weak trend in select base metals at the LMElimited the gains.

Lead Futures

Lead futures rose by 0.20% to Rs 126.85 per kg today as speculators enlarged positions amid rise in domestic spot demand from battery makers.

At the Multi Commodity Exchange, lead for delivery in December traded higher by 25 paise, or 0.20%, at Rs 126.85 per kg, with a turnover of three lots.

While, the commodity for delivery in current month moved up by 15 paise, or 0.12%, to Rs 125.90 per kg in a turnover of 159 lots.

Market men said a firming trend at the domestic spot markets on the back of rising demand from battery makers influenced lead prices at futures trade but a weak trend overseas restricted gains.

Zinc Futures

Zinc dipped 1.47% on India's Multi Commodity Exchange (MCX) on Friday morning trade. LME Zinc prices slips below $2300 a ton as investors from globe book profit after prices reached to multi week highs in recent days.

According to Amrita Mashar, Market Research Analyst at Commodity Online, the trend in Zinc August delivery on MCX looks bearish for the day. Intra-day traders are advised to stay on selling side.

“For intra-day, support for the commodity is seen at 140 and below that it may test level of 139.20 while resistance is seen at 140.80 and above that it may test level of 141.50,” she said.

Near term, Zinc futures are likely to remain on selling side and may touch level 138 in coming days, she added.

Aluminium Futures

Aluminium prices fell 0.40% to Rs 125.65 per kg in futures trading today as speculators reduced exposure amid weak global trend.

At the Multi Commodity Exchange, aluminium for delivery in December declined by 50 paise, or 0.40%, to Rs 125.65 per kg in business turnover of 27 lots.

Similarly, the metal for delivery in the November contract traded lower by 45 paise, or 0.36%, to Rs 125.60 per kg in 444 lots.

Analysts said speculators offloaded their positions in tandem with a weakness in metal at the London Metal Exchange and subdued domestic demand, mainly influenced aluminium prices at futures trade.

Natural Gas Futures

Natural gas prices fell sharply on Tuesday, extending steep losses from the previous session as investors cashed out of the market to lock in gains from a recent rally which took futures to four-month highs.

On the New York Mercantile Exchange, natural gas for delivery in December fell by as much as 3.05% to touch a daily low of $4.136 per million British thermal units.

Prices last traded at $4.147 during U.S. morning hours, down 10.8 cents, or 2.55%.

A day earlier, natural gas prices hit $4.544, the most since June 26, before turning lower to end at $4.255, down 15.7 cents, or 3.56%.

Futures were likely to find support at $4.119 per million British thermal units, the low from November 6, and resistance at $4.544, the high from November 10.

Crude oil Futures

Crude oil futures fell by 0.11% to Rs 4,751 perbarrel today as speculators trimmed positionsamidst a weak trend in Asian markets.

The trading sentiment turned weak in futures tradeon a stronger US dollar and expectations that theOPEC cartel is unlikely to cut production levels tocounter a global supply glut, analysts said.

At the Multi Commodity Exchange, crude oil fordelivery in current month shed Rs 5, or 0.11%, to Rs4,751 per barrel in 1,192 lots.The oil for December delivery moved down by asimilar margin to trade at Rs 4,776 per barrel in avolume of 200 lots.

Meanwhile, West Texas Intermediate (WTI) crudeoil for December delivery was down by 15 cents to$77.03 a barrel, while Brent crude shed 37 cents to$80.01 per barrel in late-morning trade on the NewYork Mercantile Exchange.

Menthaoil Futures

Menthaoil prices eased by 0.19% to Rs 692.70 per kg in futures trading today as traders trimmed positions due to sluggish demand from consuming industries in the spot market.

Besides, adequate stocks position in the physical market on increased arrivals from Chandausi in Uttar Pradesh put pressure on menthaoil prices.

At the Multi Commodity Exchange, menthaoil for delivery in November eased by Rs 1.30, or 0.19%, to Rs 692.70 per kg in a business turnover of 117 lots.

Similarly, the oil for delivery in December shed Re 1, or 0.14%, to Rs 703.50 per kg in 20 lots.

Analysts said offloading of positions by speculators due to weak demand from consuming industries in the spot market mainly kept pressure on menthaoil prices at futures trade.

CPO Futures

Crude palm oil prices rebounded by0.31% to Rs 451.80 per 10 kg in futurestrade today as speculators created freshpositions amid pick-up in demand in spotmarkets against tight supplies fromproducing regions.

At the Multi Commodity Exchange, crudepalm oil for delivery in November movedup by Rs 1.40, or 0.31% to Rs 451.80 per10 kg in business turnover of 81 lots.

Similarly, the oil for delivery in Decembertraded higher by Rs 1.30, or 0.29% to Rs457 per 10 kg in 116 lots.

Analysts attributed the rise in crude palmoil futures to fresh positions built-up byspeculators after demand picked-up in thespot market against tight supplies fromproducing belts.

Cardamom Futures

Cardamom prices moved up by 0.27% to Rs 893.50 per kg in futures trade today as speculators created fresh positions amid pick-up in spot market demand against limited arrivals from producing regions.

At the Multi Commodity Exchange, cardamom for delivery in January edged higher by Rs 1.40, or 0.27%, to Rs 893.50 per kg in a business turnover of 13 lots.

Similarly, the spice for delivery in December traded higher by Rs 1.30, or 0.14%, to Rs 864.50 per kg in 307 lots.

Analysts said speculative fresh positions built by speculators, driven by pick-up in demand in the spot market against restricted arrivals from producing belts, mainly led to the rise in cardamom prices at futures trade.

Cotton Futures

Cotton export has started to pick up, with the new season (October to September) having begun, but is unlikely to meet the estimates put forward by the Cotton Advisory Board (CAB).

The Board, under the Union textile commissioner, has estimated total export in 2014-15 at nine million bales (a bale is 170 kg), about 23 per cent lower from the previous year’s export of 11.7 mn bales. Analysts believe the total might be no more than 7-7.5 mn.

Prerana Desai, head of research with Edelweiss Commodities, said: “We see exports almost 20 per cent lower than what has been estimated by CAB. China, a big buyer is facing a slowdown and the government there is pushing for use of higher local material.” Two-thirds of our cotton export go to China.

Export had been at a near-standstill for some time. Four months earlier, India’s cotton prices were 22 cents a pound higher than the global level. This has since dropped and our prices are about six cents a pound higher.

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