Gold, silver rise on demand, global cues
Snapping its two-day fall, gold prices soared by R575 to R31,625 per ten gram on fresh buying by stockists at current lower levels for the ongoing marriage season amid a firming global trend. Silver prices also shot up by R790 to R45,790 per kg on increased offtake by jewellery fabricators and industrial units. Traders said fresh buying by stockists at existing lower levels after the recent fall to meet the ongoing marriage season demand mainly pushed up the bullion prices. They said a firming global trend as the dollar weakened and lower prices spurred demand in China, the second-largest consumer, further fuelled the uptrend.
NCDEX reboots crude palm oil futures
Leading agri-commodity bourse NCDEX relaunched crude palm oil futures contract. To begin with, the exchange has launched four CPO contracts. Each contract will expire in December 2013, January, February and March of 2014, NCDEX said in a
statement. The contracts are made available for trading from Tuesday. An investor can trade in a CPO futures on the exchange platform up to 10 tonnes and take delivery of the commodity from Kandla in Gujarat, it said. The re-launch of CPO completes the basket of oil and oilseeds futures on NCDEX.