Precious Metals watch out: Gold Tumbles on remarkable Gains in Equities

Gold prices fell 0.58% to Rs. 29,570 per 10 grams in futures trade today since participants’ trimmed positions to book profits accompanied by a weak trend overseas. At the MCX, gold for delivery in April was trading Rs. 172, or 0.58%, lower at Rs. 29,570 per 10 grams, in a business turnover of 71 lots. Further, the metal for delivery in Feb…

India has no plan now to raise import tax on sugar

India has no plan at present to raise import tax on sugar as the Govt doesn’t see prospects of imports from Pakistan as of now, as per report. Although sugar availability of this year remains as tight as last year, India will have sufficient sugar to meet domestic demand without overseas purchases. The govt has pegged total sugar output at 24.…

MCX NCDEX Calls : Refined Soya oil under short covering

The NCDEX Refined Soya Oil is under short covering Wednesday on weak U.S soya Oil futures. The market has witnessed drop in open interest by 2.9 percent settled at 30,130 while prices up 1.35 rupees. NCDEX Refined Soya settled up by 0.18 percent at 733.4 tracking stability in spot demand amid expectation of higher demand from China. Hope of incr…

NCDEX Jeera May trade 21375 – 22135 levels, MCX Commodity

Jeera on National Commodity & Derivatives Exchange (NCDEX)is getting support at 21,560 and below same could see a test of 21,375 level, and resistance is now expected to be viewed at 21,940, a move above could witness prices testing 22,135. NCDEX jeera settled up by 0.53 percent at 21,745 on anticipation of good export demand. Good improvement…