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Fresh rally as dollar weakens

DOMESTIC REVIEW/ Bullion

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Our Commodities Bureau Kolkata
Last Updated : Mar 01 2013 | 2:40 PM IST
After losing ground for three-straight weeks, gold and silver are once again glittering with the dimming prospects of a sustained rally for the US dollar.
 
Silver performed better across the board, with rising prices of gold.
 
The rise comes on the back of poorer trade deficit numbers in the US, declining oil prices, and uncertainty due to North Korea's nuclear plans. The better than expected jobs data did not slow the short-term gold rally.
 
The New York Mercantile Exchange's Comex silver prices topped at $7.22. Spot prices saw 3.6 per cent single day rise from $6.93/6.96 on Thursday to $7.18/7.21.
 
April gold rose to $424.80 per troy ounce to $415.80. Spot London gold fix closed the week at $418.85 from $415.90 (PM) last week.
 
In India, the week ended February 12 saw spot gold (99.50 purity) in Mumbai closing at Rs 6080 per 10 gram from Rs 5975.
 
Spot gold (99.90 purity) closed at Rs 6120 from last week's Rs 6010. Spot silver (.999) was at Rs 10835 from last week's Rs 10320/kg.
 
National Commodity and Derivatives Exchange of India (NCDEX) gold rose 2.26 per cent from Thursday to Friday, while silver rose 6.6 per cent in near month contracts.
 
NCDEX February gold was at Rs 6032 from last week's Rs 5986. Open interest and volume were at 637700 gram and 99200 gram respectively.
 
March gold contract closed at Rs 6058 from Rs 6030, with open interest and volume of 479600 gram and 78700 gram respectively.
 
NCDEX February silver was at Rs 10450 from Rs 10062 last week. Open interest closed at 62775 kilogram and volume of contract at 93735.
 
March silver contract closed at Rs 10454 from Rs 10157 last week, with open interest of 53395 and a volume of 65505.
 
Multi Commodity Exchange of India (MCX) April rose to Rs 6036 from Rs 6012 with open interest of 4076 kg and volume of 1522 kg.
 
June contracts were at Rs 6073 from Rs 6035, with open interest of 62 kg.
 
March gold HNI (High Net Worth Individuals) contract closed at Rs 5928 from last week's Rs 6075 with open interest and volume of 36 kg and 123 trades.
 
HNI silver March closed at Rs 10145 from Rs 9670 last week, with open interest of 2850 kg and 1950 kg of volumes traded.
 
March 4 silver contract rose to Rs 10451 from Rs 10094, open positions being at 230850 kg and volume of contract at 239550 kg.
 
May contract traded at Rs 10488 from the previous week's close Rs 10153, with 18240 kg positions open and volume of 9660 kg.
 
July silver closed at Rs 10531 up from Rs 10145 last week with an open interest of 5700 kg and a volume of 6090 kg..

 
 

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First Published: Feb 14 2005 | 12:00 AM IST

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