New Delhi: Falling for the second straight day, gold prices on Saturday edged lower by Rs 40 to Rs 32,550 per 10 grams at the bullion market amid tepid demand from local jewellers and a weak trend overseas. But gold prices still remained near six-year high levels.
Commodity News
Commodity News – Real-time Accurate MCX Commodity Market News and forecast for today. Best commodity market online tips through whatsapp and telegram by Neal Bhai.
Gold Rally Will Fade, and Prices Could Drop to Lowest Level in Almost Two years
However, John LaForge of the Wells Fargo Investment Institute believes the rally will trip up investors in a matter of months — if not weeks.
US Crude Tumbles 12% From High as Oil Bulls Retreat
U.S. West Texas Intermediate crude ended this week down 2.2 percent and has now tumbled about 12 percent from its recent high of $86.74 on Oct. 3. Brent crude, the international benchmark for oil prices, fell 2.7 percent this week and is down 10.5 percent from its Oct. 3 high of $86.74.
BASE METALS – Copper Slides as Equity Markets Rout Rattles Investors
Copper fell 1.5 percent on Friday as global stocks headed for their worst week in more than five years, overshadowing worries over the sharp shortage of supply building in the market.
Copper Price to Spring Back in 2019, Zinc seen Flat
Copper prices are due to rebound next year as healthy supply/demand fundamentals overcome macro-economic worries, but zinc will be held back by rising output, a Reuters poll showed.
Central Banks to Increase Gold Buying for First Time Since 2013
Central banks are set to increase their purchases of gold in 2018 for the first time in five years as eastern European and Asian countries seek to diversify their reserves.
Crude Oil Prices Continue Fall Amid Global Stock Market Slump
Gold Silver Reports (GSR) – Crdue Oil prices fell by around 1% today , coming under pressure from sharp selloffs in global stock markets, with U.S. stocks posting the biggest daily decline since 2011 to wipe out the year’s gains. Front-month Brent crude oil futures LCOc1 were at $75.42 a barrel at 0043 GMT, 75 cents, or 1%, below their last close.