6/19/2012 10:38:00 AM
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Commodity Updates
Gold rose for an eighth consecutive session on Tuesday, the longest winning streak since July last year, after a weekend victory for pro-bailout parties in Greek elections failed to shake off worries about a worsening debt crisis in Europe. In Indian Market Gold closed with positive side & shut down with 0.20% plus side.
Investors shifted their focus to a policy meeting by the U.S. Federal Reserve, which economists say, appears increasingly likely to offer more monetary stimulus despite political opposition, internal reticence and concerns about whether it will be effective. Gold hit an intraday high of $1,630.59 an ounce and was steady at $1,627.95 an ounce by 0300 GMT. Gold rallied to a record of around $1,920 in 2011, when investors turned to the metal as a safe haven during the debt crisis in Europe.
Silver was little down on last trading day but for today trading session we expect it to trade for up side.
Investors shifted their focus to a policy meeting by the U.S. Federal Reserve, which economists say, appears increasingly likely to offer more monetary stimulus despite political opposition, internal reticence and concerns about whether it will be effective. Gold hit an intraday high of $1,630.59 an ounce and was steady at $1,627.95 an ounce by 0300 GMT. Gold rallied to a record of around $1,920 in 2011, when investors turned to the metal as a safe haven during the debt crisis in Europe.
Silver was little down on last trading day but for today trading session we expect it to trade for up side.
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