The atom remuneration of goldrebounded from a 34-month low, jumping the most in a month, on cipher ofincreased demand for jewelry, coins and bars after the metal headed for thebiggest quarterly erase in at least 93 years.
Commodity Weekly Market Report ? Where to Invest!
Gold for immediate deliveryadvanced 2.2 percent to $1,227. Earlier, the charge touched $1,18050, thelowest since August 2010On the Comex in New York, gold futures for Augustdelivery rose 1 percent to settle at $1,223.70 Trading was 66 percent abovethe general in the past 100 days for this case Spot silver jumped 5.5 percentto $19.5093 an ounce, while prices in New York settled at $19.47, up 4.9percent
Todays jump narrowed theprecious metals annual exclude to 36 percent, which is the biggest slide among 24commodities tracked by the Standard & Poors GSCI Spot Index West TexasIntermediate rose for a fifth day, its longest amplify since April, on thatsigns of economic compensation in the US and Germany entrust aid fuelconsumptionWTI for August enunciation increased as much as 77 cents to $97.82 abarrel in electronic trading on the New York Mercantile Exchange, the highestintraday charge since June 20 The contract rose $1.55, or 1.6 percent, to$97.05 yesterday, the biggest gain since May 3. Futures are up 5.8 percent thismonth and seldom changed in the closing quarter
Weekly Technical View: Gold
Gold future prices maintained opposite trend during the week but onFriday it direct to known in green. Short shade may maintain in coming weekand payment may investigation 26200 levels Now 14 Day RSI prefers the firmness and remained in ecru regionalong with stochastic are favoring the positive image andmoved in the mushroom girth Concisely, prices are likely to trade in the rangeof 25000-26200 in coming trading week
Weekly Technical View: NaturalGas
Onlast week natural gas closed below 50 days progress average. We recommend sellnatural gas for medium spell with pause loss of 108. The immediate supportappears around 103 levels breaching which the stock can compass 102 levels Stockhas strong resistance at 106.30 levels
Economic Round Up:-
Indias rupee rose the most since September, extending itsrebound from a inventory low, as investors reassessed expectations for a reductionin US stimulus Stocks and bonds surged the most in at least a yearConfidence in Indian capital was moreover boosted as the government agreed to raisenatural gas prices, which FirstRand Ltd (FSR) says cede nurture localexplorers and incision dependence on imports. Federal Reserve Bank of New YorkPresident William C Dudley verbal policy makers may perpetuate their asset-purchaseprogram should the worlds biggest economy languish to meet forecasts More Fedofficials are due to speak. The gas-price increases is a gigantic positive for therupee, said Harihar Krishnamoorthy, Mumbai-based treasurer at the Indian unitof FirstRand We should see additional voices from the US downplaying globalconcerns and the rupee should see a more steady correction from here
Asias 1997 financial crisis wont iterate itself, even as aslowing Chinese economy unnerves the regions fiscal markets Currentaccount positions are now chiefly in surplus, which should cushion the trials froman outflow of capital, Neumann said. Banking systems also appear additional robust,with better regulatory systems, higher monetary buffers and lowerloan-to-deposit rates There are besides no blatant mismatches between assetsand liabilities, he spoken In the 1990s, most external borrowing was in U.S dollarsBy contrast, most of the debt that investors own taken on in past years isin local currency, so a surge in the dollar wont impose a spike indebt-service costs
Rice exports from India, the worlds second-largestgrower, may repudiate this year from a index as buyers turn to cheaper suppliesfrom Vietnam and Pakistan, according to a traders side Shipments may plunge 6percent to 9.5 million metric tons in the year that started in April from 101million tons a year earlier, uttered Vijay Setia, a void president and member ofthe All India Rice Exporters Association. Exports of non-basmati rice areestimated to erase 15 percent to 5.5 million tons, while overseas sales ofaromatic basmati variety are coagulate to leap 14 percent to 4 million tons, he said
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