5/16/2012 05:18:00 PM
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Gold Live
Gold is expected to trade on lower side for upcoming trading sesson. Gold extended losses on Wednesday to slip to its weakest level since late December after efforts to form a new government in Greece collapsed, prompting investors to cut their exposure to the precious metal.
U.S. June gold futures, which often dictate spot gold, dropped more than 1 percent to a low of $1,532.7 an ounce, their lowest since Dec. 29. Cash gold was also at a 4-1/2 month low.
Copper Updates
MCX Copper also facing down side pressure due to market world market flactualtion & Dollar strenght. Copper prices were also pressured by worries about growth in demand from top consumer China, with investors seeing Beijing's weekend move to cut banks' reserves to boost lending as an affirmation that the world's No. 2 economy is slowing further. London copper fell to a four-month low on Wednesday, extending losses to a fourth consecutive session, as investors continued to shy away from riskier assets with the Greek political malaise threatening to plunge Europe into a deeper financial mess.
