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Friday, 18 November 2016

Daily Basis Fundamental View on Gold, Silver, Crude Oil and Copper

A Gold trading range for the day is 28905-29503.
On Thursday, spot gold costs declined by 0.73 percent to close at $1216 per ounce as costs drop to a 5-1/2-month low on Thursday, giving up earlier increases as the dollar index knocked a 13-1/2-year high on solid U.S. economic information and remarks by U.S. Federal Reserve Chair Janet Yellen that reinforced the case for climbing interest rates one month from now.

Spot gold has shed around 9 percent from the six-week high came too quickly after the U.S. election on Nov. 9. Join MCX Free Tips given by experts

At the MCX, gold costs declined by 0.86 percent to close at Rs.29131 per 10 grams.

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The Silver trading range for the day is 40207-41657
Spot silver costs declined by 1.8 percent on Thursday to close at $16.7 per ounce, the fall in silver costs is in accordance with the decrease in gold costs and more grounded dollar list.

At the MCX, silver costs declined by 1.21 percent to close at Rs.40740 per kg.


The gold/silver proportion, which measures the quantity of silver ounces, expected to purchase an ounce of gold was trading flat on Friday morning. The gold/silver proportion was trading at 72.83 ounces contrasted and 72.96 ounces on Thursday.

Crude Oil
The Crude oil trading range for the day is 3034-3198.
WTI oil costs declined slightly by 0.3 percent on Thursday to close at $45.4 per barrels a stronger dollar exceeded desires of an OPEC arrangement to limit production.

On the MCX, oil costs declined by 0.4 percent to close at Rs.3109 per barrel. On the MCX, oil costs are required to exchange bring down today as international markets are trading lower by 0.8 percent at $45.04 per barrel.

The Copper trading range for the day is 361.8-380.2.
LME Copper costs exchanged higher by 1.2 percent yesterday at $5495.5/ton, as inventories are down around 19 percent this month and rose yesterday interestingly since eighteenth October'16. We also provide Future Tips on mobile after the complete analysis of market.

MCX copper costs exchanged lower by 0.7 percent to close at Rs.372.7 per kg on Thursday. We predict that MCX Copper costs will trade bring down today on the MCX.

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