5/30/2012 06:20:00 PM
Your Advisor
Gold Commodity Trend
Gold shows some buying trend, but major seen is bearish, all market go down due to global market & dollar effetc.
Spot gold prices declined by 0.4 percent today on the back of strength in the US Dollar Index (DX). The yellow metal touched an intra-day low of $1545/oz and hovered around $1548/oz till 4:30pm IST today. On the MCX, prices traded on a flat note and were trading around Rs.28,862/10 gms today. However, depreciation in the Indian Rupee cushioned further fall in gold prices on the domestic bourses.
Taking cues from fall in gold prices and downside in base metals, Spot silver prices declined around 1 percent today. Additionally, strength in the DX also exerted downside pressure on silver prices. The white metal touched an intra-day low of $27.51/oz and was trading around $27.52/oz today. On the domestic front, prices declined by 0.6 percent but depreciation in the Indian Rupee prevented further fall and silver hovered around Rs.53,660/kg on the MCX till 4:30pm IST today.
Silver almost down by by 0.30% and seems to more down form htis level.
All Base metal also down, copper drop down by 0.90% while NG almost drop by 5%. No major correction seems for today's session.
