3/14/2011 06:53:00 PM
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Gold Trend
Gold Apr futures on COMEX rose by 0.66 percent to $1,421.8 per troy ounce on Friday from $1,412.5 per troy ounce the prior day. Silver Mar futures on COMEX also gained 2.48 percent to $35.933 per troy ounce from $35.064 per troy ounce the prior day. Prices mainly got support from the ongoing Middle East crisis and the earthquake in Japan which prompted investors to seek shelter in safe haven assets. Gold/Silver ratio edged down to 39.5 on Friday from 40.1 on Thursday showing that the white metal still holds some investment demand. Holdings at Gold SPDR ETF declined by 1.82 tonnes to 1,215.48 tonnes on Friday while that of Silver holdings at iShares Silver Trust also showed redemption and holdings fell by 16.70 tonnes to 10,957.36 tonnes.
Crude Oil Trend
Crude oil futures on NYMEX declined on while that of Natural Gas Apr futures rose on concerns that higher gas demand in Japan would be required to replace lost nuclear capacity leading to tightening of global supply/demand balance. The natural calamity in the world’s third largest economy prompted investors to turn towards safe haven assets buying and gold and silver futures on COMEX. Libyan troops loyal to Colonel Muammar Gaddafi have reportedly intensified their fight against rebels while attempting to retake the oil port of Ras Lanuf on Friday. On the other hand Saudi’s "Day of Rage" fizzled and passed quietly as citizens heeded a government ban on protests in the Kingdom.
Zinc Review
Zinc prices have resistance at Rs.103.2/kg and Rs.103.5/kg level in MCX March contract and selling can be seen there. While on lower side prices are expected to find support at Rs.102.8/kg and Rs.102.7/kg level.
For Free Commodity tips Click here, All MCX Tips, Bullion tips, mcx trend, free commodity tips, mcx bullion tips, mcx bullion trend, base metal trend, gol price, silver price, commodity free tips, mcx tips, free mcx tips, base metal price you can get here.
Gold Apr futures on COMEX rose by 0.66 percent to $1,421.8 per troy ounce on Friday from $1,412.5 per troy ounce the prior day. Silver Mar futures on COMEX also gained 2.48 percent to $35.933 per troy ounce from $35.064 per troy ounce the prior day. Prices mainly got support from the ongoing Middle East crisis and the earthquake in Japan which prompted investors to seek shelter in safe haven assets. Gold/Silver ratio edged down to 39.5 on Friday from 40.1 on Thursday showing that the white metal still holds some investment demand. Holdings at Gold SPDR ETF declined by 1.82 tonnes to 1,215.48 tonnes on Friday while that of Silver holdings at iShares Silver Trust also showed redemption and holdings fell by 16.70 tonnes to 10,957.36 tonnes.
Crude Oil Trend
Crude oil futures on NYMEX declined on while that of Natural Gas Apr futures rose on concerns that higher gas demand in Japan would be required to replace lost nuclear capacity leading to tightening of global supply/demand balance. The natural calamity in the world’s third largest economy prompted investors to turn towards safe haven assets buying and gold and silver futures on COMEX. Libyan troops loyal to Colonel Muammar Gaddafi have reportedly intensified their fight against rebels while attempting to retake the oil port of Ras Lanuf on Friday. On the other hand Saudi’s "Day of Rage" fizzled and passed quietly as citizens heeded a government ban on protests in the Kingdom.
Zinc Review
Zinc prices have resistance at Rs.103.2/kg and Rs.103.5/kg level in MCX March contract and selling can be seen there. While on lower side prices are expected to find support at Rs.102.8/kg and Rs.102.7/kg level.
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