The document summarizes commodity prices from the noon session. It reports that gold, silver, platinum, and palladium declined as the US dollar appreciated on concerns about renewed debt issues in Europe. Oil prices also fell from two-year highs on speculation that China may raise interest rates, slowing growth and curbing demand. Copper prices dropped in London due to expectations that China's possible interest rate hike could reduce metal demand from the largest user.

1. Commodity noon session
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2. Bullions
• Gold witnessed some huge profit booking coming in
as US dollar appreciated from the key support levels
on concerns of renewed debt crisis in Euro Zone
region.
• Silver, Platinum, and Palladium also declined along
with the Gold prices.
• The euro fell to a six-week low against the dollar
amid concern that sovereign-debt issues will weigh
on economic growth in Europe.
• Irish government bonds tumbled for a 13th day
yesterday on mounting concern that the nation will
be forced to restructure its finances.

3. • Gold’s gains may be limited in the short term
should the dollar extend its rally
• The Dollar Index, which tracks its value against
six counterparts, rose for a fifth day.

4. Crude oil.
• Oil declined from a two-year high in New York
on speculation China will raise interest rates,
curbing growth in the world’s biggest energy
consumer.
• Slide in US and Asian stock indices on
concerns of policy tightening by China and
possibility of debt crisis remerging in Euro
Zone prompted many investors to book profits
in Crude oil.

5. • The Dollar Index, which tracks the U.S.
currency against those of six trading partners,
rose for a sixth day. The greenback gained 0.3
percent against the euro. A rising dollar tends
to reduce the appeal of raw materials as an
inflation hedge.
• Prices are expected to bounce back next week
as analysts estimates indicates towards a
possible drop in Crude oil inventory levels in
US.

6. Base metals.
• Copper fell in London on speculation demand
will decline if China, the world’s largest user of
the metal, raises interest rates to curb
inflation.
• Markets will be keenly watching the monitory
policy developments happening in China
during the coming days.
• China imported 273,511 tons of copper , 26
percent less than the previous month and 4
percent lower than October 2009.

7. • Copper fell 2.3 percent,on the London Metal
Exchange. Aluminum declined 1.7 percent Zinc
dropped 4 percent. Lead retreated 3.1 percent
Nickel fell 2.1 percent Tin was down 2.4
percent.