Gold prices touched all time high at $3,500 during the Asian session but selling was witnessed at the highs. As traders booked profits, the rally in Gold was met with sharp selling.

MCX (Multi Commodity Exchange Of India) share price was down by 5 percent in early trades and the stock is currently looking strongly bearish on technical charts.

A special audit committee formed by the government has investigated the books of accounts of DLF Ltd, India's largest realtor.

The panel has asked DLF to respond to questions raised within 120 days or by April 30. One of the questions pertain to possible evasion of tax by changing the revenue recognition method. DLF said it will respond to the queries in the next two months.

"The assessment is still to be done; it will be wrong to say that any action is being taken against DLF," the developer said.

Copper prices fell to about four-year low in international market following fears of low demand in the wake of global financial crisis. According to recently released data by the World Bureau of Metal Statistics, copper prices declined more than 55 per cent in this year. Analysts at Barclays Capital said that adverse is yet to come and next few quarters would see huge decline in demand as compared to current demand level in the market.

Sugar was traded at Rs 65 per quintal higher last week at the commodity exchange and market is expected to remain firm in the coming times due to the fears of low yield.

The rejection of petition, field by the mills on SAP issue supported prices at the commodity exchange.

The court upheld the prices fixed by the government at Rs 140-145 per quintal. Other factors such as depreciation of rupee against US dollar, global slow down and liquidity crunch helped to raise the demand of sugar.

As prices in the global market continued to decline, vegetable oil imports increased 30 per cent in November compared with the same period a year ago. Total veg oil imports in the country shot up to 555,342 tonnes in November this year as compared to 427,912 tonnes in the corresponding month last year. Of this, edible and non-edible oil comprised 519,032 tonnes and 36,310 tonnes, respectively. Import of RBD palmolein was reported at 137,959 tonnes as compared to 30,014 tonnes in the same month last year. The share of refined oil increased to 27 per cent from 25 per cent in October this year.