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Gold may swing to currency movements Gold prices are likely to be range-bound with the rupees movement against the dollar likely to decide on the yellow metals direction. In the global market, the precious metal was at a months low, searching for a direction. With Brent crude rising to near $120 a barrel, there could be increasing demand for dollar from importing companies, leading to a drop in the rupee. This could boost gold since any rise in the dollar will make import of commodities such as gold, crude oil and vegetable oil dearer. In early trade at Singapore, spot gold traded at $1,652.50 an ounce, while gold for delivery in April quoted at $1653.50. In the domestic market on Wednesday, gold for jewellery (99.5 purity) fell to Rs 30,255 for 10 gm and pure gold (99.9 purity) slid to Rs 30,395.
TRADING TIP:
Base metals prices retreat as Asian holidays weigh, copper near two-week lows. Base metals retreated gently during LME premarket trading, led by copper, which was around its lowest for nearly two weeks the downward drift due to the absence of many Asian participants for holidays was maintained.
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PRODUCT NAME
EXP DATE
OPEN
HIGH
LOW
CLOSE
LTP
CHG
PERCENTAGE CHANGE
4560 5120
4532 5018 1178 14800 1041 0.40 42435 0.40 781.3 4315 -0.20 4540 -0.20 1282 1.00
-0.61 -1.99 -0.46 -1.68 -0.76 5248.00 0.11 985.00 -0.2 0.28 57555.00 -2.66 30573.00 2.89 130.00
Symbol
Expiry Date
PCP
% Change
LTP
KAPAS
Crude Oil PEPPER 7/19/2012 Nickel REF SOYA 7/19/2012 SOY BEAN Silver 7/19/2012 TURMERIC 7/19/2012 Gold WHEAT Lead 7/19/2012
19-Feb-13 42300 42555 28-Feb-13 780.5 783.6 4309 5-Mar-13 4330 4600 4676 5-Apr-13 1251 28-Feb-13 1282
5229.00 42250 42390 981.30 777.4 782.85 4265.5 57661.00 4303 4518 4664 30640.00 1251 128.75 1246
Zinc
28-Feb-13
117.40
0.80
118.35
Copper
28-Feb-13
444.00
0.30
445.15
Aluminium
28-Feb-13
112.15
0.40
112.55
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ANALYSIS
OPEN: 30581 HIGH: 30627 LOW: 30516 CLOSE: 30573
ANALYSIS
OPEN: 57502 HIGH: 57633 LOW: 57211 CLOSE: 57555
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