Page 902 - Commodity News
Gold surges to 5-week high on brisk buying, tight supply
After gaining Rs 325 in the previous session, the fresh upsurge pushed up gold prices to a level last seen on June 19, in the face of tight stocks position ever since the RBI imposed fresh import norm
 "Gold surges to 5-week high on brisk buying, tight supply")
Seizure of smuggled gold zooms 365% in Q1
This year, revenue authorities expect this to rise 150% over last year to around Rs 250 cr
 "Seizure of smuggled gold zooms 365% in Q1")
Indian diamond processors at crossroads
Falling rupee, costlier roughs to dent their bottomline, revival hope from IIJW confluence of jewellers
 "Indian diamond processors at crossroads")
Barley up by 1.5% on short covering
Low levels buying by traders influenced barley prices
 "Barley up by 1.5% on short covering")
Castor seed falls by 2.3% on weak domestic demand
Falling demand in domestic as well as overseas markets further dampened the trend
 "Castor seed falls by 2.3% on weak domestic demand")
Potato falls by 2.6% on sluggish demand
Low demand and high supplies affected potato prices
 "Potato falls by 2.6% on sluggish demand")
Chana up by 0.5% on spot demand
Rise in demand influenced chana prices
 "Chana up by 0.5% on spot demand")
Gold futures up 0.4% on firm global cues
A firm market trend overseas influenced the prices of gold
 "Gold futures up 0.4% on firm global cues")
Coriander falls by 1.3% on sluggish demand
Speculators reduced their holdings on account of sluggish demand
 "Coriander falls by 1.3% on sluggish demand")
Crude palm oil up by 0.2% on spot demand
Fresh positions created by speculators affected crude palm oil prices
 "Crude palm oil up by 0.2% on spot demand")
Aluminium down by 0.6%
Subdued demand at domestic markets affected aluminium prices
 "Aluminium down by 0.6%")
Mentha oil extend losses, shed 0.7%
Low demand from consuming industries influenced mentha oil prices
 "Mentha oil extend losses, shed 0.7%")
Cardamom falls 2.2% on profit-booking
Speculators indulged in booking profits at prevailing higher levels
 "Cardamom falls 2.2% on profit-booking")
Lead down by 0.5% on global trend
Low demand from battery-makers in the domestic spot market affected lead prices
 "Lead down by 0.5% on global trend")
Nickel down by 0.3% on subdued spot demand
Weakness in metals due to slow economic growth affected nickel prices
 "Nickel down by 0.3% on subdued spot demand")
Zinc down by 0.6% on subdued demand
A weak global trend affected zinc prices
 "Zinc down by 0.6% on subdued demand")
Traders, planters cheer Trustea code
To achieve complete compliance, companies seeking the Trustea code would have to meet applicable control points within four years
 "Traders, planters cheer Trustea code")
Maharashtra launches survey on wet drought in Vidarbha
Cotton, soya bean have been severely damaged to heavy rains
 "Maharashtra launches survey on wet drought in Vidarbha")
Coffee Board's forecast for 2013-14 surprises planters
Board has projected an all-time high crop of 347,000 tonnes in current year
 "Coffee Board's forecast for 2013-14 surprises planters")
OMCs offer new ethanol buying tender
Oblige sugar mills' demand to consider lead time for cane crushing season
 "OMCs offer new ethanol buying tender")