Weekend rally bails out trade

DOMESTIC REVIEW/BULLION

The bullion market saw silver gaining ground during the week while gold stagnated for most of the week. A jump in the international gold prices at the fag end of the week however saw the domestic market overcome intra week losses.

The spot price of silver closed up at Rs 9895 per kilogram on Saturday as against Rs 9725 last week.

On Saturday, 10 grams standard gold closed down at Rs 6000 from previous week's close of Rs 6025. Pure gold closed at Rs 6040 as against Rs 6067.

On the National Commodities and Derivatives Exchange (NCDEX) the February contract of gold futures closed at Rs 5987 on Friday as against Rs 6051 the previous week with open interest of 1,73,600 grams. The volume of contract stood at 37,400 grams with 201 trades.

The March contract closed at Rs 5990 from Rs 6069 the previous Friday amid open interest of 58,300 grams with a volume of 13,800 grams in 78 trades.

The April contract closed at Rs 6002 on Friday, down from Rs 6174. The open interest stood at 13,100 grams, and a volume of 10,200 grams in 57 trades.

The February contract of silver futures closed on Friday at Rs 9477 compared with Rs 9597 last week. The open interest stood at 2270 kilograms with the volume of contract at 360 kilograms. There were 43 trades.

The March contract closed at Rs 9470 down from Rs 9610 the previous Friday. The volume of contract stood at 340 kgs amid an open interest of 1205 kgs with 46 trades.

The April contract closed at Rs 9476 from Rs 9610. The volume of contract was 65 kgs, with open interest of 255 kgs.

On the Multi Commodities Exchange (MCX), February contract of gold futures closed down at Rs 5950 on Friday as against previous week's close of Rs 6009. The total volume of contract stood at 10,000 grams with four trades. There were no open positions.

The April contract closed at Rs 5997 when compared with the previous Friday's price of Rs 6069. The open interest stood at 4,28,000 grams with 322 trades with volume of 3,50,000 grams traded.

The February contract of mini gold closed trade at Rs 5997 on Friday compared with previous week's Rs 6008. Volume of contracts stood at 9200 grams, with 60 trades. There were no open positions.

The April contract closed at Rs 6000 from Rs 6068 with open interest at 32,800 grams. There were 160 trades with contract volume at 24,400 grams.

Silver futures closed for the March contract at Rs 9523 on Friday down from Rs 9629. The open interest stood at 1410 kilograms, with a volume of 660 kilograms in 22 trades.

On National Multi Commodities Exchange (NMCE), February contract of gold futures closed at Rs 5951 on Saturday as against Rs 6060 the previous week. Volume of contracts stood at 4 kilograms (two sided) with open interest of 92 kilograms and 12 trades.

The March contract closed at Rs 6043 on Saturday from Rs 6070 the previous week. Volume of contract stood at 22 kilograms with open interest of 125 kilograms.

The April contract traded upto Friday, and closed at Rs 6017 as against Rs 6080 last week, amid an open interest of 48 kilograms. The volume of contract stood at 10 kgs with three trades.