6/12/2012 06:05:00 PM
Your Advisor
Gold Updates
Gold in under pressure due to international segmment. As per the Industrial and Commercial Bank of China Ltd, said that the country’s demand for gold investment will increase by more than 10 percent in the current year as investors look for safe haven investments. On the domestic front, prices increased by 0.7 percent on account of depreciation in the Indian Rupee and closed at Rs.29,765/10 gm after touching an intra-day high of Rs.29,784/10 gm on Monday.
On the domestic front, prices increased by 0.7 percent on account of depreciation in the Indian Rupee and closed at Rs.29,765/10 gm after touching an intra-day high of Rs.29,784/10 gm on Monday.
Copper Updates
We expect prices to go up to levels of 418 if prices trades above 413 levels. The red metal prices touched an intra-day high of $7507/tonne and closed at $7408/tonne in yesterday’s trading session. On the MCX, June copper contract prices increased by 1.8 percent and closed at Rs.411.50/kg on Monday. Additionally, depreciation in the Indian supported upside in red metal prices.
Nickel Updates
Metals showing overall down side trend form the day start. Nickel prices touched an intra-day high of $17,300/tonne and closed at $17,253/tonne on Monday. In the Indian markets, prices increased by 2.7 percent and closed at Rs.959/kg yesterday.
Gold in under pressure due to international segmment. As per the Industrial and Commercial Bank of China Ltd, said that the country’s demand for gold investment will increase by more than 10 percent in the current year as investors look for safe haven investments. On the domestic front, prices increased by 0.7 percent on account of depreciation in the Indian Rupee and closed at Rs.29,765/10 gm after touching an intra-day high of Rs.29,784/10 gm on Monday.
On the domestic front, prices increased by 0.7 percent on account of depreciation in the Indian Rupee and closed at Rs.29,765/10 gm after touching an intra-day high of Rs.29,784/10 gm on Monday.
Copper Updates
We expect prices to go up to levels of 418 if prices trades above 413 levels. The red metal prices touched an intra-day high of $7507/tonne and closed at $7408/tonne in yesterday’s trading session. On the MCX, June copper contract prices increased by 1.8 percent and closed at Rs.411.50/kg on Monday. Additionally, depreciation in the Indian supported upside in red metal prices.
Nickel Updates
Metals showing overall down side trend form the day start. Nickel prices touched an intra-day high of $17,300/tonne and closed at $17,253/tonne on Monday. In the Indian markets, prices increased by 2.7 percent and closed at Rs.959/kg yesterday.
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