GOLD FUTURE PRICE PLUNGED ON WEAK GLOBAL CUES

At the MCX, Gold futures for Sep contract was trading at Rs. 51450.00 Per 10gms, down by 0.28%, after opening at Rs.51431.00 Per 10gms, against a previous close of Rs. 51774.00 Per 10gms. It touched an intra-day low of Rs. 51224.00 Per 10gms and high of Rs.51520.00 Per 10gms in the future market.

Gold prices fell on Friday as the dollar regained lost ground, although doubts over a swift global economic recovery kept bullion on track for a weekly gain.

Silver prices slumped to Rs 68201.00 per kg on September 11 as participants increased their short positions.

Zinc prices on Friday rose by 1.49% to Rs 192.75 per kg in futures trade tracking a firm trend in physical markets on the back of pick-up in spot demand.

Nickel prices on Friday rose by 0.57 per cent to Rs 1097.90 per kg in futures trade as speculators built fresh positions on rising demand from alloy makers in spot market.

On Multi Commodity Exchange, Commodities like Zinc, Copper, Nickel, Lead, Aluminium futures were the gainers, gained by 1.49%, 0.79%, 0.57%, 0.44%,0.24% respectively. While Commodities like Natural Gas, Silver, MCX Bulldex, Gold, GoldM, Crude Oil, Gold Petal, Gold Petal, Mentha Oil, Cotton, CPO were the losers with a loss of 2.48%, 1.15%, 0.76%, 0.63%, 0.51%, 0.58%, 0.48%, 0.46%, 0.25%, 0.11%, 0.10% respectively.