8/29/2011 05:19:00 PM
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MCX Trend
MCX Gold Trend
Today in the evening session of the trade we have US Personal Income and US Personal Spending which if comes better than expected then would pressurize the Precious Metals.Gold prices slipped 1.3 percent last week and touched a low of $1702/oz. On the MCX Gold October contract declined 2.4 percent and closed at Rs26,899/10 gm last week. Investment demand continued to look weak as holdings at SPDR Gold ETF saw a net redemption of 1.51 tonnes on Friday.
Silver Trend
COMEX Silver Sept futures surged weak in comparison to Gold and ended the day at $40.952 per troy ounce on Friday, showing a 0.59 percent rise from $40.745 per troy ounce on 25th Aug, 2011.
Copper Trend
Today in the evening session of the trade we have US Pending Home Sales Index which is expected to show some improvement and hence could support the prices. LME is closed today due to Summer Bank Holiday.
Lead Trend
Lead was the top gainer in the last week as the metal surged almost 7.4 percent on the LME as well as on the MCX. Dollar weakness and upbeat market sentiments helped lead to trade higher. Lead Shanghai weekly inventory declined 1.8 percent to 417,784 tonnes last week. This also acted as a positive factor for prices. Lead touched a high of $2482/tonne and closed at $2479/tonne on Friday.
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