Published on 17/02/2017 5:27:12 PM | Source: Dion Global Solutions Ltd.

Zinc futures in reverse gear on global cues

Posted in Commodities | #Zinc #MCX #Commodity

Zinc futures fell over 1 per cent during evening trade in the domestic market on Friday as investors and speculators booked profits in the industrial metal on firm US dollar.

The greenback remained firm after the US Fed Chair Janet Yellen supported a near-term interest rate hike due to signs of robust economic growth, influenced zinc prices at futures trade.

At the MCX, zinc futures for February 2017 contract is trading at Rs 189.90 per kg, down by 1.09 per cent, after opening at Rs 191.40, against a previous close of Rs 192. It touched the intra-day low of Rs 189.30.