Gold prices slides on Wednesday from retesting a
3-week high made in the previous session, after a rise in the dollar on
the back of strong US economic data..Gold continue to fall further on Today’s
session as the dollar firmed on the back of strong economic data and
Asian stocks ticked up ahead of the Bank of England's expected rate cut
later in the day.
Spot gold was down 0.4 percent at $1,352.10 an ounce by 0340 GMT, after declining 0.4 percent in the previous session. Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.03 percent to 969.65 tonnes on Wednesday. Among other precious metals, spot silver was down 0.8 percent at $20.19, while spot platinum and palladium fell 0.4 percent and 0.5 percent to $1,154.30 and $705, respectively.
The dollar bounced back from Tuesday's six-week low against a basket of six major currencies as investors looked forward to U.S. payrolls data for July on Friday. A rebound in oil prices from four-month lows lifted Asian stocks. The dollar index was firm at 95.550.
MCX Copper closed last session trades at Rs 325.60 per kg down 0.32%. The high for Copper was at Rs 327.70 per kg while low was at Rs 322.60 per kg. Chinese economic growth at 6.7% in Q2 and the expectation of stimulus helped Copper in the month gone by although Copper prices were facing heat in the trading session of Wednesday. Meanwhile, Chile published by the Government's latest figures showed that Chile produced 473,608 tons of copper in June this year, declined of 7.7% year on year. Chile is the world's largest producer of copper, the country's copper production accounted for one-third of the global copper production
Oil prices rose on Thursday, extending gains from the previous session following a large draw in U.S. gasoline inventories and a big drop in the dollar since the end of July.U.S. West Texas Intermediate (WTI) crude futures were trading at $41.11 per barrel at 0513 GMT, up 28 cents, or 0.7 percent, after rising 3.3 percent in the previous session. International Brent crude futures were trading at $43.28 a barrel, up 18 cents, or 0.44 percent.
The gains on Wednesday and Thursday in both WTI and Brent marked at least a temporary end to a sharp downward trend that began in June and pulled some 20 percent from their values.
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Spot gold was down 0.4 percent at $1,352.10 an ounce by 0340 GMT, after declining 0.4 percent in the previous session. Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.03 percent to 969.65 tonnes on Wednesday. Among other precious metals, spot silver was down 0.8 percent at $20.19, while spot platinum and palladium fell 0.4 percent and 0.5 percent to $1,154.30 and $705, respectively.
The dollar bounced back from Tuesday's six-week low against a basket of six major currencies as investors looked forward to U.S. payrolls data for July on Friday. A rebound in oil prices from four-month lows lifted Asian stocks. The dollar index was firm at 95.550.
MCX Copper closed last session trades at Rs 325.60 per kg down 0.32%. The high for Copper was at Rs 327.70 per kg while low was at Rs 322.60 per kg. Chinese economic growth at 6.7% in Q2 and the expectation of stimulus helped Copper in the month gone by although Copper prices were facing heat in the trading session of Wednesday. Meanwhile, Chile published by the Government's latest figures showed that Chile produced 473,608 tons of copper in June this year, declined of 7.7% year on year. Chile is the world's largest producer of copper, the country's copper production accounted for one-third of the global copper production
Oil prices rose on Thursday, extending gains from the previous session following a large draw in U.S. gasoline inventories and a big drop in the dollar since the end of July.U.S. West Texas Intermediate (WTI) crude futures were trading at $41.11 per barrel at 0513 GMT, up 28 cents, or 0.7 percent, after rising 3.3 percent in the previous session. International Brent crude futures were trading at $43.28 a barrel, up 18 cents, or 0.44 percent.
The gains on Wednesday and Thursday in both WTI and Brent marked at least a temporary end to a sharp downward trend that began in June and pulled some 20 percent from their values.
share market tips, commodity tips, energy pack ,mcx crude oil tips,mcx natural gas tips.
visit: http://equityresearchlab.com/
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