MCX Gold Updates

Aluminium Updates

Aluminium prices declined around 1.6 percent on the LME to become the worst performer on Tuesday. The metal inventories more than 0.5 percent to 4,710,550 tonnes on the LME warehouse yesterday. Prices touched an intra-day low of $2500/tonne and closed its trading session at $2514.50/tonne yesterday.



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MCX Gold Trend

Gold Updates

Renewed investment demand was seen amid concerns of debt crisis spreading in the Euro Zone Peripheral economies with Fitch and S&P downgrading Greece and Italy. Gold June futures on COMEX pared their prior day losses on 20th May, 2011 and rose by 1.11 percent to close at $1,508.9 per troy ounce from $1,492.4 per troy ounce on19th May, 2011. Holdings at SPDR Gold ETF increased by 10.61 tonnes on 20th May, 2011. Stronger U.S. Dollar will pressurize the Yellow Metal but with the Greece Crisis in limelight now will provide support.

Regards - MCX Commodity Tips the Bullion Metals

Gold Updates

Investment demand for the yellow metal grew stronger yesterday with Gold/Silver ratio rising upward and ending at 43.26 from 43.12 on 21st May, 2011. SPDR Gold ETF saw an increase in its holdings by 7.58 tonnes yesterday. Gold June futures on COMEX continued to end in green and showed a 0.43 percent gain to close at $1,515.4 per troy ounce on 23rd May, 2011 from $1,508.9 per troy ounce on 20th May, 2011.

Regards - MCX commodity Tips The Bullion Metals

Hi NiftyCom,
I have seen your post regarding Gold.
Can you help me in knowing the expected trend in gold in coming days? Is there chance of it to come down from current level or it will only go up up up??
Any help is highly appreciated.
Thanks,
summasumma