5/23/2012 10:25:00 AM
Your Advisor
All Commodity bullion market was up side & trade for buying phase. For today we expect Gold & Silver both precious metal will trade for up side trend. While in base metal Copper, Lead & Zinc also can buy form the lower side.
Commoodity Updates
GOLD FALLS AS EURO STUMBLES AHEAD OF EU SUMMIT.
COPPER FINDS FEET ON CHINA MOVE;DOLLAR CAPS GAINS.
OIL PINNED AT $109 ON PROGRESS IN IRAN TALKS.
U.S. CORN , SOYABEAN , WHEAT FALL FOLLOWING RALLY.
Bullion declined, with spot gold shedding around one per cent following the slip of the euro. The auction of Spanish short-term bills, which saw a rise in yields and low offtake, accentuated the trend. However, investors were closely watching the developments in the Euro zone for further directional cues. Tracking global markets, gold dropped at the Multi Commodity Exchange. However, enduring weakness in the rupee limited the fall, a report from Geojit Comtrade said.
Rupee created fresh record lows against the US dollar after breaching the Rs 55 a dollar mark.
Copper Live
Copper retreated on Wednesday from a one-week high hit in the previous session ahead of a meeting of European leaders, with investors wary that a failure to tackle the region's debt crisis will hit global demand for industrial metals just as China is slowing and a U.S. recovery is fragile.
There are nagging fears of a messy Greek exit from the euro zone as well as concerns over contagion after ratings agency DBRS put four euro zone countries -Spain, Italy, Portugal and Ireland - on review for possible downgrade in case of Greece's non-compliance with bailout conditions.
