Gold Silver Reports (GSR) – Silver prices reclaimed the Rs41,000-mark by surging Rs250 per kg backed by increased offtake by industrial units and coin makers. Rising for the second straight day, gold prices edged higher by Rs10 to Rs31,870 per 10 grams at the bullion market today on persistent buying by local jewellers amid a firm trend overseas.
economic data
MCX ZINC Free Tips — Above 212 We See Big Blast in Coming Days Target 218—224
MCX ZINC Free Tips — Above 212 We See Big Blast in Coming Days Target 218—224 Neal Bhai Reports (NBR) By CFA’s and MFA’s Technical Team Mobile No. 9582247600 & 9899900589
Crude Oil Prices Up on Venezuelan Supply Troubles
Gold Silver Reports (GSR) – Brent crude futures LCOc1 were up 33 cents, or 0.4 percent, to $75.69 a barrel at 0101 GMT. U.S. West Texas Intermediate (WTI) crude CLc1 was up 38 cents, or 0.6 percent, at $65.11 a barrel. It ended the previous session 1.2 percent lower at $64.73 a barrel.
India Gold Imports Are Said to Have Slumped for Fifth Month
Gold Silver Reports (GSR) – India Gold Imports Are Said to Have Slumped for Fifth Month — India’s gold imports shrank 39% in May, according to a person familiar with the information, the fifth month of decline as the world’s second-largest consumer enters a seasonally weak period for demand. Imports contracted to 77.6 tonnes from 126.2 tonnes a year earlier, the person said, asking not to be identified as the figures aren’t public. The purchases exceeded the 52.7 tonnes in April and are the highest so far this year.
Goldman Sees the Australian Dollar Falling to 72 Cents; Report
Gold Silver Reports (GSR) – Goldman Sees the Australian Dollar Falling to 72 Cents – The Aussie will decline to 72 U.S. cents by year-end as restrained economic growth and inflation mean the Reserve Bank of Australia will take a “few years” to catch up with the Federal Reserve in raising borrowing costs, said Philip Moffitt, Asia-Pacific head of fixed income in Sydney at the firm, which oversees more than $1 trillion.
U.K. Economy Caps Challenging Year With Surprise Growth Pickup
Gold Silver Reports – The U.K. ended a difficult year on a stronger-than-expected note. – Gross domestic product rose 0.5 percent in the fourth quarter, faster than the 0.4 percent forecast, figures from the Office for National Statistics Friday show.
European Stocks Flat as Dollar Extends Decline
Gold Silver Reports – European stocks erased early losses to close little changed as positive economic data in the region offset negative sentiment following a slump in Chinese equities. The dollar extended a retreat sparked by Wednesday’s more dovish than expected Federal Reserve minutes.