Upbeat physical demand lifts Zinc
18/08/2016 13:55
Zinc futures rose during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Further, speculation that interest rates in the US may stay lower for longer bolstered risk taking appetite as Fed minutes showed that policymakers from the world’s top central bank were divided over the urgency to raise interest rates.
At that MCX, zinc futures for August 2016 contract is trading at Rs 153.4 per kg, up by 0.72 per cent, after opening at Rs 153.3, against a previous close of Rs 152.3. It touched the intra-day high of Rs 153.4. (At 13:54 PM).
18/08/2016 13:55
Further, speculation that interest rates in the US may stay lower for longer bolstered risk taking appetite as Fed minutes showed that policymakers from the world’s top central bank were divided over the urgency to raise interest rates.
At that MCX, zinc futures for August 2016 contract is trading at Rs 153.4 per kg, up by 0.72 per cent, after opening at Rs 153.3, against a previous close of Rs 152.3. It touched the intra-day high of Rs 153.4. (At 13:54 PM).
