2. Bullions
• Gold witnessed some correction happening after the
advance see during the early Asian trading session as
US dollar bouncing back from the key support levels
prompted many investors to book profits.
• Silver traded near a 30-year high, while palladium fell
from a nine-year high.
• Gold price earlier reached an all-time high of
$1,398.60 an ounce in the COMEX electronic trading
session.
3. • Gold gained 2.5 percent last week as US dollar
slumped to nine month low level after fed
announced $600 billion debt repurchases to spur
economic growth.
• World bank president Robert Zeollick said to day
that Group-of-20 economies should consider
using gold as a reference point for market
expectations of currency values, inflation and
deflation as they reform the global monetary
system
4. Crude oil.
• Crude Oil rose to two year high levels after
employment in the U.S. increased more than
forecast, signaling a recovery in fuel demand
from the world’s biggest crude-consuming nation.
• Some profit booking was seen from the key
resistance levels as US dollar appreciated against
US dollar.
• Payrolls climbed by 151,000 workers in October
following a revised 41,000 drop the prior month,
the US Labor Department said on Nov. 5.
5. • Crude oil prices jumped 6.7 percent last week,
the most since February.
• Crude oil prices have been increasing since a
six-day rally through April 6, amid speculation
the Federal Reserve’s stimulus program will
weaken the dollar. A declining U.S. currency
tends to boost the appeal of raw materials,
which are priced in dollars.
6. Base metals.
• Copper in London climbed a third day toward a 28-
month high after U.S. employment data signaled the
recovery is intact and the Federal Reserve eased
monetary policy.
• The U.S. central bank said Nov. 3 it will expand stimulus
by buying an extra $600 billion of Treasuries to sustain
growth in the world’s largest economy.
• Employment in the U.S. rose in October by 151,000
jobs, the first gain in five months and a climb that
exceeded all estimates.
• Copper fell for the first day in four in Shanghai as high
prices prompted many spot market players to stay
away from the markets.
7. • China sold almost all the 96,000 tons of aluminum
ingots through auction according to National
Development and Reform Commission.
• The world’s largest metals user will also sell 50,000
tons of zinc ingots from state reserves at an auction
tomorrow, the commission said on Nov. 3.
• Aluminum in London fell 0.2 percent, zinc dropped 0.5
percent, and nickel declined 0.8 percent. Tin decreased
0.3 percent, while lead advanced 0.5 percent during
early Asian trading hours.
