3/03/2011 06:09:00 PM
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Gold Review
Spot Gold prices traded lower by 0.3 percent today, tracking the positive sentiments in the global equity markets which made investor to move towards riskier assets. Additionally, falling crude oil prices have also eased inflation fears which pressurized prices. Gold touched an intra-day low of $1422.35/oz and is hovering around at $1431.10/oz till 4.00 pm IST today. On the MCX, the yellow metal prices declined 0.4 percent and were trading at ` 21085/gms around the same time.
Positive sentiments in the global equity markets coupled with weakness in the US dollar helped base metal prices to trade higher on the LME today. Lead continued to be the top performer for the second consecutive day, as the metal prices gained almost 1 percent on the LME. Prices touched an intra-day high of $2591/tonne and were hovering around `2587/kg till 4.00 pm IST. On the MCX, lead prices gained more than 1 percent, mainly of the back of depreciation in the domestic currency.
Crude Oil Review
Nymex Crude oil prices came under pressure, dropping around 0.3 percent today, after the Arab League stated that a peace plan for Libya from Venezuela's President Hugo Chavez was under consideration. This factor led oil prices to trade lower at $101.94/bbl till 4.00 pm IST today. But depreciation in the Indian Rupee led MCX Crude oil contract.
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