Page 875 - Commodity News
Gold, silver fall further on weak demand, global cues
Traders said increased selling by stockists in view of falling demand at prevailing higher levels and a weakening global trend mainly kept pressure on gold and silver prices
 "Gold, silver fall further on weak demand, global cues")
No plan to buy back gold: Govt
Yesterday it was reported that citing a source that the buyback will start soon
Govt considering bullion bank to mobilise idle gold
Indians estimated to be holding 20-25,000 tons of gold. Every year 800-900 tons of gold added to this
Face-off with locals hits iron ore supply from Gandhamardana
About eight bidders are yet to lift iron ore fines from the mine
 "Face-off with locals hits iron ore supply from Gandhamardana")
Gold tariff value hiked, FMC ups margins; PM says cut appetite
The CBEC raised the tariff value of gold to $461 per ten grams from $432
 "Gold tariff value hiked, FMC ups margins; PM says cut appetite")
Gold futures dips below Rs 33k level as FMC raises margin
According to market analyst FMC decision to raise initial margin to 5% on the value of contract in a bid to curb volatility mainly helped in bringing down the gold futures prices
 "Gold futures dips below Rs 33k level as FMC raises margin")
Govt raises import tariff value of gold to $461 per 10 gms
Prices of Gold today fell and closed at Rs 31,700 per ten grams
Margin on gold futures raised to 5%
Increased rate of margin will be effective from September 2
 "Margin on gold futures raised to 5%")
Castorseed down 2.3% on aggressive selling
Castorseed for October contract slided by 2.19%
 "Castorseed down 2.3% on aggressive selling")
Crude palm oil down 0.9% on sluggish demand
Crude palm oil for delivery in August shed 0.4%
 "Crude palm oil down 0.9% on sluggish demand")
Potato down 2.6% on increased supply
Potato for delivery in far month of March also declined by 0.9%
 "Potato down 2.6% on increased supply")
Mentha oil trades lower by 0.6% on profit-booking
Mentha oil for delivery in September shed 0.38%
 "Mentha oil trades lower by 0.6% on profit-booking")
Chana slide by 0.6% on sluggish demand
Increased supplies from producing region also influenced chana prices
 "Chana slide by 0.6% on sluggish demand")
Coriander down by 1.9% on increased supply, subdued demand
Speculators trimmed their positions, tracking a weak trend at spot market
 "Coriander down by 1.9% on increased supply, subdued demand")
Lead down 0.9% on subdued spot demand, global cues
Lead for delivery in September also fell by 0.68%
 "Lead down 0.9% on subdued spot demand, global cues")
Nickel falls by 1% on sluggish demand
A weak trend in the global markets also put pressure on nickel prices
 "Nickel falls by 1% on sluggish demand")
Copper falls by 0.3% on global cues
Profit-booking by speculators after recent gain also weighed on copper prices
 "Copper falls by 0.3% on global cues")
Silver futures down 0.9% on profit-booking
A weak trend overseas also put pressure on silver prices
 "Silver futures down 0.9% on profit-booking")
Gold futures fall 0.6% on global cues
Subdued demand at prevailing levels also weighed on gold prices
Oil extends losses as Syria strike fears ease
Anticipation of a Western operation against Syria had driven the WTI contract to its highest level since May 2011
 "Oil extends losses as Syria strike fears ease")