Bullion: Gold futures were trading higher on domestic exchanges following a sharp fall in rupee against the dollar. However, the uptrend in local prices was limited as COMEX futures fell due to a strong dollar against the euro.
Energy: After a weak trend during most of the day session, domestic crude oil futures were flat at the start of evening trade as the fall in the rupee against the dollar supported oil prices on the MCX. Crude oil is under pressure from manufacturing data to be released later in the US. Concerns on energy demand due to ailing economies of Spain and Italy also outweighed bullish cues of hurricane Sandy.
Metals: Base metal futures on the MCX traded lower tracking benchmark contracts on the London Metal Exchange, where prices came under pressure as the US dollar strengthened against major currencies. A sharp fall in metal prices on the MCX was, however, arrested as the Indian rupee fell against the greenback.
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