Nirmal Bang's evening guide on commodity

Nirmal Bang has come out with its evening guide on commodity.

Gold fell from a record high hit earlier on today as the dollar rebounded from its  lows, Industrial metals fell from a 14-month high hit earlier on Thursday as the  dollar bounced off multi-months lows and  gave a signal that these metals are running  ahead of fundamentals. Crude oil prices  are weak mainly due to built in data by EIA  and stronger dollar. 

Major Developments

India's gold imports so far in November were around 15-18 tonnes, lower than 34 tonnes in November 2008, the head of a leading trade body said on Thursday. Because of the high prices set by the metal every day the imports have hit to a great extent, But scrap sales have been increasing from last few days.

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