Thursday, December 1, 2011

Today’s Commodity Updates

Bullion Trend
Investment demand for the white metal persisted unaffected yesterday at SPDR Gold ETF which shows that investors still remained jittery over the crisis in Euro Zone and hence were unwilling to take any holdings in it. Today we have the Consumer Sentiment and confidence data coming from Euro Zone and U.S. which will affect the respective currency. Gold trading currently in sideways, Gold can buy if it cross 28750.

Silver is consolidate today until the data will not come from US side, Here also the investment demand in the white metal remained unchanged which showed that lack of investment confidence among the investors. Gold/Silver ratio cut down to 53.05 yesterday from 54.33 the prior day.

Base Metal Updates
Copper trade fine & if it will touch intraday level of 392 then will go for 396+ level for today trading, Now in the evening session of the trade we have U.S. Case Shiller House Prices Index which if come better than expected then would support the Copper prices.. While Nickel almost down by 0.50% & not appears in recovering position. Aluminum also in down side & no correction looks in that.

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