Gold
On Tuesday, spot gold prices rose to one month high
as concerns over the outcome of the U.S. election sparked losses in stocks and
the dollar, prompting investors to seek out precious metals as a haven from
risk. On the MCX, gold prices rose by 1.12 percent to close at Rs.30285 per 10
gms. On the MCX, gold prices are expected to trade higher today, international
markets are trading higher marginally by 0.15 percent at $1290 per ounce.
Silver
Spot silver prices rose by 2.5 percent on Tuesday
to close at $18.3 per ounce in line with strength in gold prices and weak
dollar index. On the MCX, silver prices rose by 2.76 percent to close at
Rs.43573 per kg.
Crude Oil
WTI oil prices declined by 0.4 percent on
Tuesday to close at $46.7 per barrel following the API report of a U.S. crude
inventory build nine times larger than forecast. Free Commodity Tips: On the MCX, oil prices
declined by 1.5 percent to close at Rs.3105 per barrel. We expect oil prices to
trade lower today on the MCX, international markets are trading lower by 0.86
percent at $46.27 per barrel.
Copper
LME Copper prices traded higher by 1.4 percent on
Tuesday to close at $4920/tonne as copper stocks at the LME warehouses
continued their decline for the seventh day in a row, falling by around 13
percent this month to 326,400 tonnes. This is a major respite to the metal
given a whopping 40 percent jump in inventories in August. MCX copper prices
traded higher by 4.4 percent to close at Rs.325 per kg on Friday. We expect MCX
Copper prices to trade sideways today on the MCX.
No comments:
Post a Comment