1/06/2012 05:19:00 PM
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Commodity updates
- Markets were skeptical yesterday on mixed cues coming from both sides of the Atlantic
- U.S. Labor markets showing signs of sustained improvement in December, 2011 while U.S. services sector also showed expansion in the same mont.
Gold Updates
Gold was veru rangbound & consolidate for all day trading, Today the sentiment is expected to remain on sidelines as in the later session of the trade we have the much awaited U.S. Nonfarm Payrolls data which the markets had been waiting in this week to get a clear direction. From the Euro side it is the Spanish and Italian Bond sales which will also show the confidence that investors have regarding the Euro Zone troubled members. for Last tarding hours we expect it will go for further movement.
Copper Updates
Copper was not to rang over. Copper prices got pressurized in the early session of the trade on Euro zone worries which had dampened the risk appetite of the investors while in the later session of the trade the losses were recouped on better outlook of the U.S. labor market along with expansion of the U.S. Service sector. However futures ended the day in red and COMEX Copper Mar future closed down by 0.23 percent to $3.4265 per pound from $3.4345 per pound the prior day. Today in the afternoon session of the day we havedata coming from Euro Zone which if comes lower than expected then would pressurize the Base Metals Complex.
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