MTECHTIPS COMMODITY MARKET NEWS 3

MTECHTIPS:-Reining in Tourism Emissions: Ecological footprint as a tool

Ecological footprints are being used as an important tool for screening holidays these days. Recognised labels make it easier to identify environmentally friendly holiday offers and take into consideration environmental, social and cultural impacts, said Bank Sarasin in a release. The most established labels include The Green Key, Earthcheck, Green Globe and CSR Tourism. the release noted.Many tour operators now allow customers to offset the carbon emissions caused by air travel by making a contribution towards a climate protection project. Independent studies have shown that the best scheme is the one offered by the German climate protection organization Comprehensive sustainability programmes for hotel chains are geared towards the development and environmental policy action programme "Agenda 21".Tour operators who commit to a sustainability programme benefit in two ways: they not only enjoy superior growth and attract more regular customers than their less sustainable competitors, but their lower resource consumption also delivers major cost savings.

MTECHTIPS:-FOMC Statement helps Crude Oil futures retain mileage

Crude oil futures are remaining steady and is hovering at four month highs with the FOMC deciding to continue with asset purchase programs that would boost the biggest economy of the world and the biggest crude consumer.WTI crude oil for delivery on March 13 was spotted trading at $97.89/ barrel a loss of $0.04 or 0.05% as of 09.23 AM IST. Brent crude oil for delivery on the same date was spotted trading at $115.08 a barrel, a loss of $0.03 or 0.02%The continuance of the stimulus program should provide momentum for oil to trade higher, said Jonathan Barratt, the chief executive officer of Barratts Bulletin to Bloomberg. Oil is looking better bid and I think it has a lot to do with U.S. dollar weakness. he added.

MTECHTIPS:-MCX Gold may trade positive on FOMC QE stance

With the US GDP contracting 0.1% in the fourth quarter and the Federal Reserve's Open Market Committee sticking to asset purchase programs to the tune of $85 billion a month, gold prices gained. The futures on MCX is expected to trade positive today, analysts say Spot gold prices in Singapore were seen trading at $1,676.90 an ounce at 9:46 a.m subsequent to rising as much as 1.2 percent Wednesday to $1,683.28. The price is the highest since January 4.A reevaluation of the U.S. economic recovery combined with a reaffirmation of a

highly accommodative monetary policy is gold-bullish, Howard Wen, an analyst at HSBC Securities (USA) Inc., wrote in a note and was quoted by the Bloomberg as saying.The so-called overall trajectory for gold and silver appears higher Wen added. Meanwhile, in the futures, Comex gold for delivery on Apr 13 was seen trading at $1680.75 a loss of $0.85 or 0.05%. Silver futures contract for delivery on March 13 was spotted trading at $32.085 an ounce, a loss of $0.092 or 0.29% as of 10.16 AM IST.

MTECHTIPS:-NMCE, MCX show progress in providing SMS/Email alert to clients: FMC

National Multi Commodity Exchange of India (NMCE) and Multi Commodity Exchange of India (MCX) have shown progress in providing SMS/Email alert facility for clients as per a directive of the Forward Markets Commission, the commodity markets regulator, issued last February.FMC had directed national level commodity exchanges to provide email/SMS alerty facilities with effect from May 1,2012 as per a directive dated 2 February, 2012. As per the monthly reports provided by exchanges, NMCE has implemented to the facility to 76% of the clients, MCX 34% of its clients while NCDEX is lagging behind providing the facility only to 3.5% and IEX 12.39%.FMC has directed the exchanges to ensure that by 28 February 2013, all clients are provided these facilities and no client hould be allowed to trade in exchanges unless he has been provided with this facility.

MTECHTIPS:-MCX Gold, MCX Silver: All eyes trained on the evening job data
On the MCX as well as COMEX, gold futures traded on flat to positive note in the early morning session trade even as silver futures on the MCX opened on a negative note. The FOMC meet that took place on Tuesday-Wednesday decided to stick on with asset purchase programs which influenced the prices of bullion.To support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, the Committee will continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month and longer-term Treasury securities at a pace of $45 billion per month, the US Federal Reserve's Open Market Committee said in a statement.The gold futures recovered well from lower levels in yesterday's session after weak US GDP data announcement and closed with 0.30% gain.