1/18/2012 06:02:00 PM
Your Advisor
MCX Gold Trend
Some good news coming from the investment side of the yellow metal when holdings at SPDR Gold ETF surged by 1.51tonnes, a feat last seen on 30th Nov, 11. South Africa's gold output fell by 4.5 percent in volume terms in Nov, 11 while total mineral production fell by 4.6 percent compared with the same month the year before. Production of non-gold minerals was down 4.6 percent, Statistics South Africasaid.
India changed the import duty on gold to 2 percent of value from the earlier flat 300 rupees per 10 grams and that of silver to 6 percent of value from 1,500 rupees per kilogram, the government said in a statement.
Copper Updates
Investor’s risk appetite recovered yesterday and we saw their funds entering the Base Metals Complex with COMEX Copper Mar futures showing a 2.54 percent rise to$3.7295 per pound from $3.6370 per pound the prior day. Today the data in the evening will also have an impact on the Base Metals Complex while bearish comments from the World Bank would weigh on the Copper prices.
China's refined copper production rose 14.2 percent on the year in 2011, with Dec, 11 output up 8 percent from a year earlier as smelters rushed to meet annual outputtargets. In 2011, refined copper production in the world's top copper consumer reached 5.179 million tonnes while output increased 2 percent from Nov, 11 to 457,000 tonnes,data from the National Bureau of Statistics showed on Tuesday. The December figure was the first monthly rise after hitting a record 518,000 tonnes in Aug, 11.
Fill the Form & Get all MCX Commodity Tips, Live Gold Trend , Copper Updates, Intraday MCX Tips on Mobile.
