While the demand is expected to fall the supply is expected to show continuous expansion. Put simply the prices should remain under pressure
Volatility ruled the market on Wednesday with the Nifty ending at 8239.75, down 45.85 points or 0.5 percent while the Sensex was down 170.45 points or 0.6 percent at 27225.93
Jonathan Garner, MD, Morgan Stanley Research has a near-term Sensex target of 29000. He believes it could overshoot 29,000 in the medium-term.
In fact it was a strong start to the November series on hopes of more reforms from the Narendra Modi government (following diesel deregulation, gas price hike etc) in near future.
A gauge of US factory activity hit a 2-1/2-year high in November and construction spending increased solidly in October, in the latest indication the economy was gaining strength despite fiscal headwinds.
Positive jobless benefits and factory activity data followed stronger-than-expected US GDP numbers this week. Spot gold fell 0.1 percent to USD 1,306.15 an ounce by 0333 GMT, bringing losses this week to 2 percent.
Goldman Sachs says it has ended a recommendation to buy a basket of US stocks with the highest sales exposure to Brazil, Russia, India and China (BRIC) and instead prefers US firms with most exposure to the domestic market â€“ just one more sign that sentiment towards emerging markets is fading fast.
Emkay Commodity Research has come out with its report on "Overview of Global Economy and its effect on Gold & Silver". According to the research firm, gold continues to remain bearish after attaining extended targets in the quarterly reports as uncertainty in the Euro zone eases and the US economy shows signs of improvement.
China`s official Purchasing Managers` Index (PMI) for April dipped to 50.6 from a March figure of 50.9, according to data from the National Bureau of Statistics, missing a Reuters forecast of 51.0.
CARE Ratings has come out with its report on "impact of US Expenditure Cuts". According to the rating agency, the US accounts for nearly 22% of World GDP and moderation in the US economy is bound to impact global growth prospects.
In an interview to CNBC-TV18 Henry Mcvey, managing director, KKR shared his reading and outlook on the US markets. He says, with the extension of quantitative easing three (QE3), Fed is basically is trying to create a buffer to prevent deflation and also prepare the markets for risk taking in 2013.
Spot gold prices eked out small gains on Friday after data showed US economic growth picked up in the third quarter, but the metal was heading for its first three-week loss in more than a year on uncertainty over the future of the US Federal Reserve's monetary stimulus.
Karvy Commodities Broking has come out with its report on bullion. The research firm has recommended investors to remain long in Silver from lower levels.
Angel Commodities has come out with its report on international commodities. According to the research firm, precious metals, base metals and crude oil prices are expected to trade with sideways with upward bias on account of upbeat global market sentiments along with weakness in the DX.
Karvy Stock Broking has come out with its report on currency. As per the research firm, rupee range for the day is seen between 52.40-52.80/USD.
If last week was anything to go by, the view on the street was that gains were going to be hard to come by. Experts were prepared for the May selling to begin, but a fall in US GDP shook things up.
The first read of first-quarter US GDP Friday could drive financial markets, as investors look for signs of direction from an economy that has been sending mixed signals.
Martin Feldstein was Chief Economic Advisor to President Ronald Reagan and is currently the Professor of Economics at Harvard. He believes that US will be lucky to have 2% GDP growth this year, let alone 3%. Check out his comments.
Geojit Comtrade has come out with its report on Gold.
Karvy Stock Broking has come out with its report on currency. As per research firm rupee range for the day is seen between Rs 51.90-52.35
The US markets closed sharply higher with the Dow above 12,000-mark, boosted by an agreement reached by European Union leaders on a plan to resolve the region's sovereign debt crisis and post some encouraging economic and earnings reports.
The top official behind Standard & Poor's historic decision on Friday to downgrade the United States' prized triple-A credit rating said it was his company's duty to make such a hard and controversial call.
In an interview with CNBC-TV18, Arvind Thakur, CEO of NIIT TECHNOLOGY, said global environment continues to look turbulent following the spate of GDP downgrade and Greek debt concerns. "However, this will not have a major impact on the services business," he adds.
The Federal Reserve on Wednesday cut its forecasts for U.S. economic growth, but offered no hint of further monetary support, saying growth should pick up soon.
The International Monetary Fund cut its forecast for US economic growth on Friday and warned Washington and debt-ridden European countries that they are "playing with fire" unless they take immediate steps to reduce their budget deficits.