• Gold climbed for the first time in five days, ending the
worst losing streak since July on increased investment
demand and robust global sales in spot markets especially
in India. Silver, palladium and platinum also gained.
• The dollar tumbled from a seven-week high against the
euro before a report today that is forecast to show U.S.
jobless claims increased. The Dollar Index dropped for a
• Global gold demand rose 12 percent in the third quarter,
led by a 36 percent jump in jewelry buying from India, the
world’s largest buyer, the World Gold Council said
• Gold for December delivery gained 0.9 percent to
$1,348.50 an ounce in Comex. Silver for
immediate delivery rose 1.8 percent to $26.09 an
ounce. The price reached $29.36 an ounce on
Nov. 9, the highest level since March 1980.
• US Initial claims numbers will be keenly watched
by the markets today and any disappointments in
this front could see buying momentum
continuing during the COMEX trading session.
• Oil rose from a four-week low after U.S.
crude inventories unexpectedly dropped the most
since August 2009, signaling fuel demand in the
world’s biggest consumer may be recovering.
• Futures retraced some of yesterday’s 2.3 percent
slump, snapping four days of declines, after the
Energy Department said stockpiles shrank 7.3
million barrels last week.
• The dollar index traded lower on the expectation
that unemployment claims increased in US.
• Gasoline inventories slipped 2.66 million barrels
to 207.7 million, the lowest level since the week
ended Oct. 16, 2009, the Energy Department
report showed. Analysts estimated a slide of
750,000 barrels. Imports were the lowest since
• Copper in Shanghai rallied after falling 11
percent in four days and London prices extended
yesterday’s gains as China’s clarification on price
controls improved investor confidence and as the
• Plan released by the Beijing to curb the inflation
helped to ease the policy uncertainties and gave
some relief to the market.
• The Dollar Index, which tracks the greenback
against a basket of currencies, dropped as much
as 0.4 percent to 78.773.
• February-delivery metal on the Shanghai Futures
Exchange climbed as much as 2.3 percent to $9,478
a metric ton and closed at 62,290 a ton for midday
break. The three-month delivery contract in London
advanced as much as 1.2 percent to $8,290 a ton.
• Buying interest have been witnessing continuing into
the European trading session as a bail out package is
expected to be announced by IMF and EU for Ireland
which is a supporting factor for Euro.