Platinum futures debuted on the Multi Commodity Exchange (MCX) of India on Friday and enjoyed a successful start to trading.

The platinum September contract resumed at Rs28,450 and closed on a higher price at Rs28,629 per ten grams.

The contracts clocked a turnover of Rs97.92 crore with a volume of 344kg and an open interest of 51kg, reports from Financial Express revealed.

The metals were firm on overseas markets and increased by the renewed buying of interest funds following a soft dollar, record oil prices and supply disruptions in copper.

Meanwhile, the active copper June contract was traded at six per cent higher and is expected to increase further.

Gold increased by 3.6 per cent as concerns over global economies and a decline in South African production lifted prices.

In addition, silver was trading at five per cent higher at Rs24,609 per kg, up by Rs1,170 from the previous week.

Crude oil prices also remained volatile as a result of speculation surrounding a potential rise in supply from Saudi Arabia.



Source:

Copper futures higher by 6%, platinum contract makes a strong debut, 23/06/08

http://www.financialexpress.com/news/Copper-futures-higher-by-6-platinum-contract-makes-a-strong-debut/326214/