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Jul 12, 2012, 08.23 AM IST
Angel Commodities has come out with its report on international commodities. According to the research firm, precious metals, base metals and crude.
Spain auctioned its 10 year bonds at 6.43 percent from previous auction of 6.0.4 percent in June. Also the country sold around 3 billion Euros ($3.8 billion) of securities today. French government sold 10 year bonds at 2.5 percent rate from previous rate of 2.46 percent.
Spot gold prices gained around 0.3 percent today on the back of rise in risk appetite in the global markets. However, strength in the US Dollar Index (DX) capped further gains in gold prices. The yellow metal touched an intra-day high of $1620.60/oz and hovered around $1620.59/oz today till 4:30pm IST. On the MCX, Gold August contract gained by 0.7 percent on account of depreciation in the Indian Rupee and was trading around Rs.29,779/10 gms today.
Taking cues from rise in gold prices and mixed performance in base metals group, Spot silver prices increased 0.7 by percent today. However, a stronger DX restricted further upside in the silver prices.
The white metal touched an intra-day high of $28.32/oz and was trading at same levels today. In the Indian markets, prices increased by 0.9 percent on the back of depreciation in the Indian Rupee and hovered around Rs.53,011/kg after touching an intra-day high of Rs.53,099/kg till 4:30 pm IST today.
Copper, the leader of the base metals pack gained by 0.3 percent on account of decline in LME copper inventories by 0.3 percent and stood at 252,725 tonnes. On the domestic front, prices rose around 0.7 percent on account of depreciation in the Indian Rupee.
Nymex crude oil prices increased by 0.5 percent today on account of expectations of decline in US crude oil inventories coupled with Statoil, Norway’s largest oil producer halting the production after talks failed between workers and management. However, a stronger DX prevented sharp gains in crude oil prices.
The US Energy Department (EIA) is scheduled to release its weekly inventories report today at 8:00pm IST and US crude oil inventories is expected to decline by 1.9 million barrels for the week ending on 29th June 2012. Gasoline stocks are expected to rise by 0.6 million barrels whereas distillate inventories are also expected to gain by 0.6 million barrels for the same period.
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Tags: Angel Commodities, international commodities, precious metals, base metals, crude, US crude oil inventories, Spot Rupee
May 20 2013, 12:21
- in Rupee
May 20 2013, 12:21
- in Commodities