Investment demand of Gold declined yesterday as redemption of 13.02 tonnes of holdings was seen in SPDR Gold ETF. South Korea fires artillery off Yeonpyeong after hearing shells from North Korea. South Korea’s military said it fired two artillery rounds after hearing three explosions coming from the North near the disputed sea border that was the scene of a deadly shelling in November.
Spot gold rose almost 1 percent today on safe-haven demand as global economic concerns still persist. Additionally, dollar weakness also helped the yellow metal to rise further. On the MCX, gold traded on a flat note till 4.00 pm IST mainly on account of Rupee appreciation.
Base metals complex traded higher on the LME today mainly taking cues from stable sentiments in the global markets coupled with a weaker dollar. Appreciation in the Indian Rupee resisted further rise on the domestic bourses. Nickel was the top gainer of the day as the metal rose 2.8 percent on the LME and around 1.3 percent on the MCX today. Base metals and crude oil are expected to trade higher on the back of dollar weakness and upbeat market sentiments.
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