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2006-12-13 00:00:00 |
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Copper futures in red at MCX
However, LME witnessed a subdued opening today. LME Copper stockpiles are up 475 tonnes at 161375 tonnes today.
Poor Industrial production data from UK pressurized the commodity today. According to data released by UK’s National Statistics, industrial production has dropped 0.8% in the United Kingdom in October.
LME Copper for three month futures are trading at $7095 right now, down $80 while MCX February futures are trading at Rs 322.35 per kg, down Rs 3.95 after trading as low as Rs 321.55 a kg. |
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Crude oil futures continued to trade down in mid London trade Friday as the US dollar strengthened against the major currencies apart from a dip in the global equities. |
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Gold futures fell in negative zone as dollar gathered some strength in mid London trades. Dollar typically strengthens when there are less data releases from US. |
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MCX Comdex was up by 2.35% to 2694.17. MCX Energy was down by 0.22% to 2651.55, MCX Metal was up by 3.70% to 3226.02 and MCX Agri was up by 4.84% to 2255.10. |
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| Technical Calls |
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Dollar investors bring down gold, silver prices |
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Gold slipped again for Dollar investors early in London on Friday, nearing the weekend 1.7% above last week's finish as commodities fell, government bonds rose, and world stock markets dropped. Gold priced in the British Pound Sterling hit a new all- |
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High gold price threatens Indian marriage culture |
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Gold’s auspicious significance within Indian culture will continue to ensure it plays an important role in weddings there, even as India modernizes. But the threat is that the gold price has become much more driven by speculative investment in the pa |
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Gold, silver traders book profit as prices fall |
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Against this changing set of background conditions, New York spot gold bullion opened with an $8 loss, quoted at $1136.70 per ounce. Trade talk indicates a possible dip to the $1100 area prior to a possible renewed assault on the other side of the $1 |
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