6/07/2012 06:09:00 PM
Your Advisor
Gold slipped down below 30000 level.
The impact of this move is expected to be positive on global financial markets at a time when the global economy is
struggling with the European economic crisis. Spot gold prices declined by more than 0.2 percent today, however
weakness in the US Dollar Index (DX) cushioned further fall in prices. The yellow metal touched an intra-day low of $1612/oz and hovered around $1615/oz till 4:30pm IST today.
Crude trade on upside with 0.50%. The base metals pack traded on a negative note in today’s session in the international markets. Copper prices declined by 0.5 percent on the LME. However, further downside in prices was cushioned on account of decline in LME copper inventories by 0.8 percent which stood at 229,300 tonnes. The red metal touched an intra-day low of $7,365/tonne and hovered around $7,418/tonne till 4:30pm IST today. In the Indian markets prices declined on account of appreciation in the Rupee and were trading around Rs.407/kg today.
