Bullion: Despite bearish global cues, gold futures on domestic exchanges were up slightly because of the sharp depreciation in the rupee against the US dollar. Strength in the rupee makes gold imports costlier, and pushes up domestic prices. On the COMEX, gold futures were down because bullish data from the US and China recently has faded the safe-haven appeal of the yellow metal.
Energy: Nymex crude oil futures lose their early advance as equities hold sizable declines and the dollar continues to strengthen. Shackled crude had finally appeared to break decisively above $92/barrel earlier Friday, with November futures getting to $93.05 as battered heating oil and gasoline prices recovered.
Metals: Most base metal futures on the MCX traded lower today on similar cues from parent contracts on the London Metal Exchange, but weak rupee against the US dollar restricted a sharp fall. Besides MCX copper, nickel, zinc, lead futures traded lower, while aluminium contract gained marginally due to bargain buying.
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