Skip to main content

Commodity Updates Live

COMEX prices surrendered some of last week’s gains amid risk aversion and Japan’s finance ministry surprising markets by intervening to sell JPY, said Barclays Capital in a briefing. Prices succumbed to a stronger dollar as it makes dollar-denominated commodities look expensive for holders of other currencies.

Spot Silver prices slipped more than 3 percent on Monday and bears are expected to dominate this metal for the time-being as it is taking cues from various factors. The correlation between Gold prices and the dollar has also strengthened further into positive territory, with the one-month rolling correlation hitting 19% on Monday and the six-month rolling correlation turning positive after for the first time in almost two months.
Labels:

Comments

Post a Comment

Popular posts from this blog

Stock Tips Today

Our Target hits on our SBI Call which we posted before 3 days ago. Buy SBI At - 2220 for the Target of - 2240 & 2270 for day & tomorrow with Stop Loss - 2190.50 Sell Tata Motor(Intraday) At - CMP for Target of - 283.05 & 279.30 with Stop Loss - 288.50 Get daily Stock Intraday Tips, Nifty tips here
Post a Comment
Read more

LME - Copper Updates with MCX Copper Trend

Copper Updates London copper slipped on Wednesday, partially reversing gains of more than 1 percent in the prior session, as anti-austerity protests in Spain revived concerns over the euro zone debt crisis and the demand outlook for industrial metals. The protests in Spain, where the government is likely to set a fresh timetable for economic reforms later this week, highlight the country's financing challenges and stirred doubts among investors about whether it would have the political will to apply for an official bailout. Three-month copper on the London Metal Exchange was down 0.8 percent at $8,210.50 per tonne by 0705 GMT, after rising 1.1 percent in the previous session. In MCX Commodity expert feel copper, Rs 440 per kilogram is holding over the last couple of trading days despite the negative fundamentals. He believes that on the upside, the resistance near Rs 446 per kilogram remains strong.
Read more