Last time precious metals prices lined up this way, we were on the cusp of massive volatility and collapse. Silver and gold had recently been pummeled in the same not-for-profit manner that has riddled these markets for more than 40 years in the modern era (and perhaps much longer throughout the history of the monetary metals)
Bullion counter is expected to continue yesterday gains. Gold can move in range of 28600-29300 and silver can move in range of 44700-45900 in MCX. Weak local currency rupee is also supporting the domestic prices. Gold headed for the best weekly gain since October on speculation that demand will increase in Asia, the largest consuming region, prompting investors to reverse bearish bets.
.Base metals counter can trade in range with upside bias. Copper may move in range of 465-475 while nickel may trade in range of 870-885. Battery metal Lead can trade in range of 137-140. Copper climbed to the highest since June in London as manufacturing expanded last month in China and the U.S., the world’s biggest consumers of the metal, and inventories shrank further.
Bullion counter is expected to continue yesterday gains. Gold can move in range of 28600-29300 and silver can move in range of 44700-45900 in MCX. Weak local currency rupee is also supporting the domestic prices. Gold headed for the best weekly gain since October on speculation that demand will increase in Asia, the largest consuming region, prompting investors to reverse bearish bets.
.Base metals counter can trade in range with upside bias. Copper may move in range of 465-475 while nickel may trade in range of 870-885. Battery metal Lead can trade in range of 137-140. Copper climbed to the highest since June in London as manufacturing expanded last month in China and the U.S., the world’s biggest consumers of the metal, and inventories shrank further.
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