Gold:- Spot gold prices traded negative last week on combination of falling crude oil prices and strength in the dollar. Continued outflows from the ETF ’s further exacerbated the fall in gold prices. Higher U.S. quits rate and new jobless claims remaining near a 14-year low suggest the U.S. job market is moving toward full health, undermining gold's appeal as a hedge against economic uncertainty. Bullion investors looked to the currency and energy markets for trading cues.
Silver:- Last week, spot silver prices in the international markets traded lower for the entire week in line with fall in gold prices, however recovered strongly at the end of the week on short covering.
Base Metal:- Base metals may trade with sideways bias on mixed fundamentals. Copper may trade in range of 408-420 while Lead may move in range of 125-127. Aluminum may move in range of 125-127.50.
Copper:- Copper slipped on Thursday as weak manufacturing in China and slower business growth in the euro zone raised concerns about demand, while nickel hit a five-week high due to expectations of an ore shortage.
Crude Oil:- Brent crude oil steadied above $78 a barrel on reports that oil producers would agree to cut output next week offset weak economic data from China and Europe. Ministers from the Organization of the Petroleum Exporting Countries will meet in Vienna on Nov. 27 to decide how to respond to a collapse in oil prices that have fallen more than 30 percent in five months.
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Silver:- Last week, spot silver prices in the international markets traded lower for the entire week in line with fall in gold prices, however recovered strongly at the end of the week on short covering.
Base Metal:- Base metals may trade with sideways bias on mixed fundamentals. Copper may trade in range of 408-420 while Lead may move in range of 125-127. Aluminum may move in range of 125-127.50.
Copper:- Copper slipped on Thursday as weak manufacturing in China and slower business growth in the euro zone raised concerns about demand, while nickel hit a five-week high due to expectations of an ore shortage.
Crude Oil:- Brent crude oil steadied above $78 a barrel on reports that oil producers would agree to cut output next week offset weak economic data from China and Europe. Ministers from the Organization of the Petroleum Exporting Countries will meet in Vienna on Nov. 27 to decide how to respond to a collapse in oil prices that have fallen more than 30 percent in five months.
Get free trading in equity tips, free equity tips, stock tips, stock cash tips, stock futures tips, commodity tips, nifty tips, nifty futures, mcx tips, ncdex tips, and share market tips etc.
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