Copper Updates
Copper rose on Tuesday as the dollar fell and funds piled into the market, but the metal's gains remained vulnerable to the debt crisis in Europe, central
bank meetings and key macro-economic data this week, including a U.S. job reports on Friday. With markets in China, the world's largest consumer of copper, closed for a week-long holiday, volumes will be thin and metals are unlikely to stage dramatic moves, analysts and traders said.
Three-month copper on the London Metal Exchange rose 0.3 percent to $8,325 per tonne at 1048 GMT extending gains from $8,299.5 per tonne at the close on Monday, when it rose about one percent. Volumes were a slim 8,273 lots.
After having previously been found outside of the United States, tungsten filled gold bars have now apparently been making the rounds in Manhattan. Tungsten is a relatively cheap and readily available metal compared to precious gold.
Gold News
Furthermore, it seems that such counterfeit bars can fool even experts and reputable dealers due to the very close density of metallic tungsten relative to gold. Specifically, tungsten has a density of 19.25 grams per cubic centimeter, while gold has a density of 19.3 grams per cubic centimeter.
The fake bars are often created from hollowed out gold bars so that the serial numbers and golden exterior remain intact, while the precious gold filling can then be resold or reused after it is replaced with much cheaper tungsten.
MCX Silver Updates
SILVERMIC prices on MCX were trading lower. At 15:32 hrs MCX SILVERMIC November contract was trading at Rs 62530.00 down Rs 267.00, or 0.43%. The SILVERMIC rate touched an intraday high of Rs 62701.00 and an intraday low of Rs 62388.00. So far 30498 contracts have been traded. SILVERMIC prices have moved up Rs 1640.00, or 2.69% in the November series so far.
bank meetings and key macro-economic data this week, including a U.S. job reports on Friday. With markets in China, the world's largest consumer of copper, closed for a week-long holiday, volumes will be thin and metals are unlikely to stage dramatic moves, analysts and traders said.
Three-month copper on the London Metal Exchange rose 0.3 percent to $8,325 per tonne at 1048 GMT extending gains from $8,299.5 per tonne at the close on Monday, when it rose about one percent. Volumes were a slim 8,273 lots.
After having previously been found outside of the United States, tungsten filled gold bars have now apparently been making the rounds in Manhattan. Tungsten is a relatively cheap and readily available metal compared to precious gold.
Gold News
Furthermore, it seems that such counterfeit bars can fool even experts and reputable dealers due to the very close density of metallic tungsten relative to gold. Specifically, tungsten has a density of 19.25 grams per cubic centimeter, while gold has a density of 19.3 grams per cubic centimeter.
The fake bars are often created from hollowed out gold bars so that the serial numbers and golden exterior remain intact, while the precious gold filling can then be resold or reused after it is replaced with much cheaper tungsten.
MCX Silver Updates
SILVERMIC prices on MCX were trading lower. At 15:32 hrs MCX SILVERMIC November contract was trading at Rs 62530.00 down Rs 267.00, or 0.43%. The SILVERMIC rate touched an intraday high of Rs 62701.00 and an intraday low of Rs 62388.00. So far 30498 contracts have been traded. SILVERMIC prices have moved up Rs 1640.00, or 2.69% in the November series so far.