2426 gold futures contracts were traded during the day out of which DGCX June 2006 expiry contract accounted for a volume of 2154 and the balance 272 contracts belonged to April 2006 series. Open interest in the later descended further to 31 as some market participants chose to roll over their positions keeping in view the tender period for this series that begins from tomorrow.
DGCX June 2006 expiry contract witnessed brisk activity in today’s session. It opened at $578.10/troy oz and scaled a peak of $ 591.60/ troy oz. before settling at $590.70/troy oz – near the highest levels of the session. The open interest in this series recorded a sharp rise of over 51 % and stood at 853.
DGCX silver market was also fairy active during the day with DGCX July 2006 silver futures contract recording a volume of 578 contracts. The open interest in these shot up by over 61 % to close at 370. Prices opened firm at $11.300/troy oz and reached a high of $11.620/ troy oz. during mid-session. The session closed with a gain of 46.5 cents as prices finally settled for the day at $11.585/troy oz.
The on going rally in the precious metals was provided further impetus by the rising crude oil prices. May 2006 expiry crude oil futures closed past $67/ barrel mark – its highest levels in two months.
