Commodity Live
Bears dominated trading session in Asian and European equity markets today and this negativity spread to the US markets as stock futures are trading in the negative territory. Unemployment rate in the Euro Zonejumped to 10.2 percent in September, thereby threatening a further slowdown in the 17-nation Euro region.
Gold MCX Trend
In Indian commodity market spot Gold prices declined more than 1 percent till 4.45pm IST & from this level gold seems more bearish. Gold presently trading is aorund 27305, we expect that it may touch 27265 in current trading session. Investment demand for the yellow metal at SPDR Gold ETF Fund remained unchanged on 28th Oct, 2011 which showed that investors remained reluctant to reduce their investment holdings.
Silver MCX Updates
After Diwali silver is bouncing back, but this trend is not for long time in short term silver will be consolidate but for long term perpective silver seems bullish. Gold/silver ratio edged down to 49.58 on 28th Oct, 2011 from 49.53 the prior trading day indicating strength in the investment demand for the metal.
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