Zinc Bulls rule the roost
16/08/2016 14:25
Zinc futures jumped by more than 1 per cent during noon trade in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the spot market.
Further, speculation that global central banks will continue to keep monetary policy loose and step up stimulus to boost the world economy also bolstered the demand outlook for metals. Bets that the US Fed will raise interest rates this year have been trimmed amid signs of inconsistent US economic growth.
At that MCX, zinc futures for August 2016 contract is trading at Rs 151.4 per kg, up by 1.17 per cent, after opening at Rs 150.20, against a previous close of Rs 149.65. It touched the intra-day high of Rs 151.75 (at 14:19 PM).
16/08/2016 14:25
Further, speculation that global central banks will continue to keep monetary policy loose and step up stimulus to boost the world economy also bolstered the demand outlook for metals. Bets that the US Fed will raise interest rates this year have been trimmed amid signs of inconsistent US economic growth.
At that MCX, zinc futures for August 2016 contract is trading at Rs 151.4 per kg, up by 1.17 per cent, after opening at Rs 150.20, against a previous close of Rs 149.65. It touched the intra-day high of Rs 151.75 (at 14:19 PM).
