COMMODITY MARKET REPORT UPDATE

Gold trading range for the day is 28455-28781.Gold prices edged higher as caution surrounding Donald Trumps future policies continued to boost demand for the safe-haven precious metal.Demand for gold was also boosted by data showing that Chinas gross domestic product rose 6.8% in the fourth quarter of 2016, in line with expectations.

 
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Turmeric trading range for the day is 6804-7020.Turmeric prices gained supported by surging domestic as well as exports demand in the spot market.Though, some gains were capped on reports of higher output and scattered commencement of crop supplies in the producing centers.In Sangli (Maharashtra), new Turmeric crop coming to the market with small quantity around 450 bags.In Nizamabad, a major spot market in AP, the price ended at 7325 rupees remains unchanged at0 rupees.

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Jeera trading range for the day is 17340-18220.Jeera gained due to weak supplies position amid good demand from exporters.Though, some gains were capped on expectation of increase in Jeera area in Gujarat state mainly in Saurashtra and Kutch zone current year.Sowing has been good so far and weather conditions are also favorable for jeera crop.In Unjha, a key spot market in Gujarat, jeera edged up by 35.9 rupees to end at 18591.65 rupee per 100 kg.

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