| |
| Spot Gold prices continued to decline on Monday |
|
| Code:MFN002448 Prpduct:Gold Date: 2010-07-07 |
Spot Gold prices continued to decline on Monday, maintaining its downtrend since the last week. The yellow metal prices have rallied this year gaining around 12% on a year-to-date basis. Spot Gold prices touched a record high of $1265/oz in the last month. Inevitable profit booking at higher levels is exerting pressure on the gold prices. Moreover, SPDR holdings declined to 1318.915 tonnes on June 2nd from a record high of 1320.436 on June 29th. SPDR is the world’s largest ETF which is backed by gold.
Gold prices are expected to remain under pressure today on the back of mixed sentiments in the financial markets. The DX is expected to remain strengthened today which will exert pressure on the yellow metal prices. Negative economic data from the US has led to doubts over economic progress in the world’s largest economy. Concerns and negative sentiments are expected to lead to lower risk appetite among investors. On intraday basis, Spot Gold prices have immediate support at $1204/$1195 whereas resistance is seen at $1213/$1218. Spot Silver prices shall find support at $17.55/$17.20 whereas resistance is seen at $17.85/$17.98 levels. |
| |
|
|
|
|
|
|
|
| 06 Sep 2010 | | | Cash Ask | 3M Ask |
|---|
| Copper | 7660.50 | 7675.00 |
| Aluminium | 2148.50 | 2179.00 |
| Zinc | 2146.00 | 2176.00 |
| Lead | 2160.00 | 2175.50 |
| Nickel | 21910.00 | 22000.00 |
| Tin | 21375.00 | 21400.00 |
| Al.Alloy | 2281.00 | 2170.00 |
| NASAAC | 2090.00 | 2120.00 |
| Steel Billet | 508.00 | 520.00 |
| Cobalt | 39501.00 | 41000.00 |
| Molybdenum | 35500.00 | 36000.00 |
|
|
 |
|
|
|
|
2010-09-06 |
|
| PRODUCT |
BID
(US$/TON) |
ASK
(US$/TON) |
2B Coil-OCT |
3,300 |
3,380 |
No.1 Coil-OCT |
3,120 |
3,200 |
2B Coil-DEC |
3,300 |
3,380 |
No.1 Coil-DEC |
3,120 |
3,200 |
|
|
|
|
|
|
|
MetalFirst China Average:
US$16.025/lb
As of Sept. 3, 2010
(updated weekly)
MetalFirst Average:
US$16.10/lb
As of Aug. 31, 2010
(updated twice weekly)
|
|
|
|
