Bullion: Gold futures were trading slightly higher on domestic exchanges tracking rise in COMEX futures. However, local prices were confined to a narrow range due to rise in rupee against the dollar. Gold futures on COMEX rose today as the dollar weakened against the euro.
Energy: Domestic crude oil futures traded higher tracking the rise in benchmark contracts on the New York Mercantile Exchange, where prices recovered slightly on bargain buying, and on a weak dollar against the euro. NYMEX crude oil rose today after declining in the previous session. Crude oil prices had declined earlier reflecting a fall in demand, as many refineries slowed down operations in the US East Coast due to the Hurricane Sandy.
Metals: Base metal futures on the MCX traded in a range with a positive bias tracking a similar trend in benchmark contracts on the London Metal Exchange, where prices gained on weak dollar against the euro. In the domestic market, metal futures gained on global cues, but appreciation in
rupee against the US dollar capped the gains.
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