Strong pressure from the dollar into gold continue. Comaks at $ 1080 per ounce gold price has come down. Moreover Comaks 1.3 per cent fall on the silver level is at 14.5 dollars per ounce.
Crude oil has seen the biggest drop since March. On Naimaks Dblutiai crude prices of $ 48.8 per barrel has come. The Brent crude price of $ 55.5 per ounce level has come.
After yesterday's sharp drop in gold today has a mild recovery. While still in the domestic market and international market gold Rs 25,000 in a $ 1,100 down. Meanwhile India Bullion and Jewellers Association said that gold jewelry buyers are going to come good level. Unlikely to fall much from current levels, such levels of Rs 23500 in gold should start shopping. With a gain of 0.5 per cent on MCX silver is trading above Rs 34,000.
Meanwhile, the sharp decline in domestic crude oil. MCX crude oil price has come down to Rs 3200. The international market is also under pressure. Naimaks crude price is still under $ 50. Brent's level of $ 56. In fact, US stocks fell 2.5 million barrels of crude, which seems forced.
Goldman Sachs has lowered estimates on copper. Goldman Sachs said in a report in the next 3 years, ie by 2018, nearly 44 per cent may come Copper. Goldman Sachs by the end of next year, copper has been the target of $ 4,500. According to Goldman Sachs reduced demand for copper in China and even in the longer term it does not expect any kind of special fast. Copper on the London Metal Exchange has arrived at 6-year low.
Copper in the domestic market is showing slight gains. With a gain of 0.4 per cent on MCX Copper is trading at Rs 345.6. Aluminum and nickel trick is flat, but 0.25 per cent lead and zinc is 0.3 per cent.
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