Gold Silver Reports ~ Gold rallies, Gold rallied 2% to $1,263 an ounce on Wednesday, turning higher after the Federal Reserve indicated that the United States continues to face risks from an uncertain global economy, pressuring the dollar.
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FOMC Statement Due to Be Released Tonight, Gold MCX Trade Sideways
Gold Silver Reports ~ European markets are trading higher today owing to less than expected gain in oil stocks. Asian markets are trading mixed and the US stock futures are trading in the green.
Crude Oil MCX Trading Levels 2405 – 2525
Gold Silver Reports ~ Crude MCX settled down -1.72% at 2457 extending losses as a monthly report from OPEC provided further signals of a widening gap between supply and demand on energy markets worldwide.
Copper MCX Trading Levels 328.50 – 340.50
Gold Silver Reports ~ Copper MCX settled up 0.3% at 335.50 ended flat on Tuesday as a weaker dollar balanced persistent concerns over demand in top metals consumer China and uncertainty ahead of the U.S. Federal Reserve’s policy meeting.
Jewellers’ Strike, Gold Exports Drop 50% in India
Gold Silver Reports ~ Ongoing strike by Indian gold traders was reported to be helpful for the reduction of gold imports thereby enabling the government to narrow down⇓ the Current Account Deficit-(CAD). However, new reports suggest that the jewellers’ strike may dent India’s exports this month.