Friday 19 December 2014

Precious Metals Gold & Silver Headlines for Today

Gold prices have broken down and are trading below its immediate support at 27000 27050 levels. Prices can witness a pullback from lower levels and test 26950-27000 but failure to sustain at higher levels should be used to sell by day traders. Overall view for the day remains range bound to negative until prices sustain below 27100.

Silver prices are trading weak. Sustenance below 36550 will see prices test 36200 36100 area on the downside. Prices have multiple resistances around 36900-37000 levels and only a close above this levels will see positive momentum in the counter. Overall range for the day is seen between 36100 to 37000 levels.

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Wednesday 17 December 2014

Precious Metals Gold & Silver Headlines

Gold was little changed on Tuesday, in a choppy session that took prices back below $1,200 an ounce as the dollar came off its lows and traders worried the U.S. Federal Reserve may remove the phrase "considerablem time" before raising interest rates.

Silver was down 2.5 percent at $15.71 an ounce. We expect Silver prices are likely to trade on negative note on the back of US interest rate outlook.

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International live Metals News and Pricing

Aluminium prices hit their lowest in two months on Tuesday, while copper also slid after poor industrial data from China, the world's biggest metals consumer, and a further fall in oil prices. Activity in China's factory sector contracted in December for the first time in seven months, the latest in a string of weak economic indicators. 

Broader market sentiment was soured as Brent oil futures fell below $59 per barrel for the first time since May 2009, while the rouble plunged more than 10 percent for a second day and recorded its biggest fall since the Russian financial crisis in 1998.

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Monday 15 December 2014

Precious Metals Gold & Silver Headlines

Gold commodity marked its second weekly gain at the international and domestic markets with the yellow metal riding higher on the back of losses in major equity markets globally and good slide in US Dollar Index (USDX).

Silver too advance this week with the commodity once again rising around 5% and managing a decent outperformance over gold.

Silver owing to its higher beta and speculation that continued set of weaker Chinese economic data would force the government and its central bank to add more stimulus, gained more weight last week to $17 per ounce at Comex.

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International live Metals News and Pricing

Aluminum closed on a weaker note last week declining by around 2.37% to settle at $1941 MT. This downfall could be attributed to the weak global economic cues especially with China lowering its growth forecast for 2015.

Copper climbed up to settle at $6490 MT, up by $39 or 0.6% from its last week’s close. The continuous decline in the metal was put to a halt even though the economic data from China.

Nickel declined by around 1.2% and settled at $16600 MT last week. Fundamentally the metal seemed to have been running out on its appeal for the investors as the cancelled warrants declined more than 6.5% during the week.

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