• Gold futures were little changed for the second day and
heading towards fourth monthly gain on the speculation
the Spain and Portugal also may seek the help for easing
the debt crisis, boosted the demand for the metal as a
• Bullion for immediate delivery rose as much as 0.2 percent
to $1,369.40 an ounce. The February-delivery contract was
little changed at $1,368.40 an ounce on the Comex in New
• The Dollar Index, which tracks the currency against six
counterparts, dropped as much as 0.2 percent today.
• The International Monetary Fund said yesterday it sold
19.5 metric tons of gold in October to shore up its
how was the trading scenario in the bullions today?
• China approved the country's first mutual fund that
bets on gold prices, as inflation fears fuel demand
for the precious metal.
• according to U.S. Commodity Futures Trading
Commission data, “Hedge-fund managers increased
net-long positions in New York gold futures by 1
percent in the week to Nov. 23 from the previous
• Silver for immediate delivery climbed 0.4 percent to
$27.26 an ounce, set for a fourth monthly advance.
The metal has risen 61 percent this year.
• The crude oil fell on the speculation that the China,
will increase the Interest rate for the second time to
cool the Inflation and this move might reduce the fuel
demand from the world’s largest energy user.
• Oil fell as much as 0.7 percent from the two week high
on the fall in the Chinese equities on the speculation
of Interest rate hike.
• January futures fell as much as 63 cents to $85.10 a
barrel in electronic trading on the New York
Mercantile Exchange.Prices are up 4.9 percent this
month and 7.6 percent this year.
What was the trend in the Crude?
• Crude futures also dipping as the strengthening
dollar limiting the appeal of commodities.
• Crude prices may rise as declining temperatures
in the U.S. boosting the demand for heating oil
and stockpiles are declining.
• According to Bloomberg News survey “Supplies
of distillates, which include heating oil and
diesel, probably fell for a 10th time last week as
• Copper futures inched down on the speculation of
second round Interest rate hike by the China,
world’s largest metal’s consumer and to curb the
• Copper for three month delivery dropped as much
as 0.5 percent to $8,177, a metric ton on the
London metal exchange, heading for a 0.2 percent
loss in the November month. Copper for March
delivery on the Comex in New York fell 1 percent to
$3.73 a pound.
How was the trading sentiment in the base metals today?
Base metals (Contd..)
• In the Chinese physical market, end-user demand
has declined because spot inventories remain
• In LME Zinc little unchanged, Aluminum gained
0.4 percent, lead added 0.2 percent, nickel little
unchanged. Tin increased 0.3 percent.