Market Pearl

Live Gold Trend Gold is on three years low, while Spot gold down nearly by 9 percent this week. Gold future also declined with international market price. Gold can recover on friday by 1-2% as per our analysis. Spot gold was down 0.5 percent at USD 1,271.16 an ounce by 0121 GMT on Friday. The metal fell to USD 1,269.04 earlier - its lowest since September 2010 and a level which would mark the worst weekly decline in 30 years. Mean while the drop in prices could see a spurt in physical demand in top consumers India and China, which have been quiet recently. Gold can buy from 26950 for 2-3 days hold, for target 27200 to 27450.

Comex silver stocks hit highest in at least 10 years Silver stockpiles in Comex-monitored warehouses rose to their highest level in at least 10 years, showing near-term supply of the metal is plentiful as mine output holds at record levels and the global economic recovery struggles for traction. The U.S silver stocks held at the five exchange-approved depositories stood at 141.59 million ounces on Friday, the highest since Reuters data first compiled in 2002. They were up from 140.6 million ounces the previous day and 102.65 million ounces a year ago. That figure reflects both registered stocks - material covered by an ownership title - and eligible stocks at warehouses monitored by Comex. A spokesman at U.S. exchange operator CME Group, which owns COMEX, said the all-time high for COMEX silver stocks was 284.28 million ounces on March 16, 1992. London copper holds under $8,000, capped by demand fears London copper ducked below $8,000 a tonne again on Tuesday after closing the two ...