The iota remuneration of goldrebounded from a 34-month low, jumping the most in a month, on symbols ofincreased demand for jewelry, coins and bars after the metal headed for thebiggest quarterly omit 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 ordinary in the former 100 days for this time. 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 erase 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 intensify since April, on thatsigns of economic redemption in the US and Germany commit aegis fuelconsumptionWTI for August delivery increased as much as 77 cents to $97.82 abarrel in electronic trading on the New York Mercantile Exchange, the highestintraday price since June 20 The charter rose $1.55, or 1.6 percent, to$97.05 yesterday, the biggest sake since May 3. Futures are up 5.8 percent thismonth and seldom changed in the end quarter
Weekly Technical View: Gold
Gold future prices maintained rejection trend during the week but onFriday it operate to intimate in green. Short sunshade may maintain in coming weekand payment may appraisal 26200 levels Now 14 Day RSI prefers the tenacity and remained in beige regionalong with stochastic are favoring the positive device andmoved in the fawn belt Concisely, prices are likely to trade in the rangeof 25000-26200 in coming trading week
Weekly Technical View: NaturalGas
Onlast week usual gas closed below 50 days mobility regular We recommend sellnatural gas for medium word with cease loss of 108. The immediate supportappears around 103 levels breaching which the cows can span 102 levels Stockhas strong resistance at 106.30 levels
Economic Round Up:-
Indias rupee rose the most since September, extending itsrebound from a index low, as investors reassessed expectations for a reductionin US. afflatus Stocks and bonds surged the most in at least a yearConfidence in Indian reserves was furthermore boosted as the government agreed to raisenatural gas prices, which FirstRand Ltd (FSR) says commit cherish localexplorers and dent dependence on imports. Federal Reserve Bank of New YorkPresident William C Dudley spoken policy makers may preserve their asset-purchaseprogram should the worlds biggest economy decline to meet forecasts More Fedofficials are due to prate The gas-price increases is a immense positive for therupee, oral Harihar Krishnamoorthy, Mumbai-based treasurer at the Indian unitof FirstRand. We should see more voices from the US. downplaying globalconcerns and the rupee should see a fresh steady correction from here
Asias 1997 cash crisis wont recite itself, even as aslowing Chinese economy unnerves the regions budgetary markets. Currentaccount positions are now chiefly in surplus, which should cushion the mishap froman outflow of capital, Neumann vocal Banking systems also appear further robust,with improve regulatory systems, higher fiscal buffers and lowerloan-to-deposit rates There are moreover no decided mismatches between assetsand liabilities, he vocal In the 1990s, most external borrowing was in U.S dollarsBy contrast, most of the debt that investors hold 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 list as buyers turn to cheaper suppliesfrom Vietnam and Pakistan, according to a traders band Shipments may nosedive 6percent to 9.5 million metric tons in the year that started in April from 101million tons a year earlier, spoken Vijay Setia, a terminated president and member ofthe All India Rice Exporters Association Exports of non-basmati rice areestimated to eliminate 15 percent to 5.5 million tons, while overseas sales ofaromatic basmati variety are coagulate to spring 14 percent to 4 million tons, he said
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