Thursday, 7 June 2012

Commodity Market

According to the our research team, gold and silver metals are required to business on a positive note on the back of convenience in risk aversion in the international market in addition to objectives of incitement from international policymakers to convenience European debt concerns.

Gold: Spot gold costs dropped by 0.5 % last night on the back of rise in risk aversion in the international markets. However, further pitfall in costs was cushioning due to weak point in the dollar index. The gold moved an intra-day low of $1608/oz and shut at $1615/oz in yesterday’s trading period. On the MCX tips Gold Aug agreement costs dropped by 0.1 % and shut at Rs.29,659/10 gms on Wednesday. However, further disadvantage in silver costs was limited on consideration on devaluation in the indian Rupee.

Silver: Taking hints from drop in gold costs, Spot silver costs dropped by more than 1.4 % in yesterday’s trading period. However, further downfall in silver costs was avoided on the back of weak point in DX. The bright steel moved an intra-day low of $27.94/oz and shut at $28.10/oz last night. On the home front side, costs dropped by more than 1 % and shut at Rs.53,839/kg after in contact with an intra-day low of Rs.53,748/kg on Wednesday. However, devaluation in the Rupee cushioning further drop in silver prices. 

1 comment:

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