Gold marks third record high session

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ACQUISITION TO BE INCREMENTALLY POSITIVE FOR RELIANCE INDUSTRIES
UNLIKELY TO SEE SHARP CORRECTION IN MARKETS, NOT POSITIVE ON REALTY SPACE
IMPORTS & EXPORTS TO BE USED TO KEEP SUGAR PRICES RANGE BOUND
NEED A LONGER TERM PRICE OBJECTIVE FOR CROPS LIKE SUGARCANE
RIL TO GET CHEAP FEEDSTOCK VIA LYONDELL BASELL ACQUISITION
RIL TO GET CHEAP FEEDSTOCK VIA LYONDELLBASELL ACQUISITION
RIL IN A MUCH STRONGER POSITION THAN COMPETITORS FOR THIS ACQUISITION
RIL WILL GET CHEAP FEEDSTOCK BY THIS ACQUISITION
MARKET DIVIDED OVER FED'S DIRECTION IN TERMS OF INTEREST RATES
INDIAN ECONOMY LOOKING A LOT BETTER THAN OTHERS
HANG SENG UP 0.56%; NIKKEI DOWN 0.54%; KOSPI DOWN 0.17%
ACQUISITION TO GIVE RIL BARGAINING POWER IN PROCUREMENT & SALES
JAPANESE MARKET SHUT TODAY ON ACCOUNT OF THANKS GIVING
RIL'S INTEREST DOESN'T COMMIT MUCH NOW BUT GETS RIL A FOOT IN THE DOOR
NYMEX CRUDE AT $78/BBL ON TENSIONS BETWEEN IRAN & WESTERN NATIONS
HDIL LOSES 1.5%, ADDS 9 LAKH SHARES IN OPEN INTEREST
NTPC GAINS 1.1%, ADDS 12.7 LAKH SHARES IN OPEN INTEREST
BHARTI LOSES 1.5%, ADDS 14.7 LAKH SHARES IN OPEN INTEREST
DENA BANK GAINS 13.7%, ADDS 45.9 LAKH SHARES IN OPEN INTEREST
NIFTY NOVEMBER FUTURES SHED 14.5 LAKH SHARES IN OPEN INTEREST
NIFTY PREMIUM OF 13.8 POINTS VS A DISCOUNT OF 2.4 POINTS ON THURSDAY
NIFTY ROLLOVERS STOOD AT 26.7%
NIFTY NOVEMBER PUT-CALL RATIO AT 1.83 VS 1.58 ON THURSDAY
FOREIGN FUNDS NET SELL RS.463.89 CR IN EQUITIES ON NOVEMBER 20 (PROV)
MUTUAL FUNDS NET SELL RS.176.7 CR IN EQUITIES ON NOVEMBER 19
DII'S NET BUY RS.18.46 CR IN EQUITIES ON NOVEMBER 20 (PROV)
TO ENTER INTO CUSTOMIZED MOTOR CYCLE BIZ VIA PRO-BIKING SHOWROOMS
TO EXPAND PANTNAGAR CAPACITY TO 70,000 UNITS IN NEXT FEW MONTHS
AKER IS A NORWEGIAN SERVICE PROVIDER CO FOR OIL AND GAS OPERATIONS
AKER SOLUTIONS TO PROVIDE SUPPORT SERVICES IN KG BASIN

Updated: 09/10/2009 | 12:00 AM IST

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Capital Market

Friday, October 09, 2009 (New Delhi)

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Precious metal prices ended higher for fifth straight day on Thursday, 08 October, 2009. Prices rose in the face of higher investment demand and the weak dollar. With today's gain gold rallied for five consecutive sessions going up by almost 6% in these sessions.

Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa.

On Thursday, gold for December delivery ended at $1,055.4, higher by $11.7 (1.1%) an ounce on the New York Mercantile Exchange. During intra day trading, gold rose to a high of $1,060.4 crossing all the all time high records it has been creating since past three days. Last week, gold ended higher by 1.3%. Year to date, gold prices are higher by 19.1%.

Gold ended September, 2009 higher by 5.9%. For the third quarter it ended higher by 8.7%. Before this, for the second quarter, gold ended higher by 0.5%. The metal had gained 4.3% in the first quarter of this year.

On Thursday, Comex silver futures for December delivery rose 31.5 cents (1.8%) to $17.815 an ounce.

Silver ended 11.8% higher for September, 2009. Year to date, silver has climbed 56.8% this year. For 2008, silver had lost 24%.

In the currency market on Thursday, the European Central Bank, which sets monetary policy for the 16 nations that use the euro, left its key lending rate unchanged at a record low of 1%. The Bank of England did likewise, its key lending rate unchanged at a record-low 0.5%. The dollar index, which measures the strength of dollar against a basket of other currencies, rose by almost 0.3%.

In 2008, gold prices ended higher by 5.5%. The dollar index had gained 12% that year.

At the MCX, gold prices for December delivery closed higher by Rs 27 (0.17%) at Rs 15,839 per 10 grams. Prices rose to a high of Rs 15,912 per 10 grams and fell to a low of Rs 15,765 per 10 grams during the day's trading.

At the MCX, silver prices for December delivery closed Rs 198 (0.73%) higher at Rs 27,299/Kg. Prices opened at Rs 27,171/kg and rose to a high of Rs 27,470/Kg during the day's trading.

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