Friday, 20 June 2014

Today's Commodity Market Outlook

Gold headed for the longest run of weekly advances.

Silver for immediate delivery declined 0.3 percent.

Zinc rose to the highest in almost 16 months.

Gold headed for the longest run of weekly advances since March after rising to a two-month high, as expectations that borrowing costs in the U.S. will remain low fueled demand for bullion as an alternative investment. Silver for immediate delivery declined 0.3 percent to $20.7283 an ounce after reaching $20.9303 yesterday, the highest since March 19. Zinc rose to the highest in almost 16 months in London on concern that production will fail to keep up with demand amid supply curbs and shrinking inventories. Copper for delivery in three months added 0.2 percent to $6,725 a ton ($3.05 a pound) on the LME. In New York, copper futures for delivery in September rose 0.5 percent to $3.0755 a pound on the Comex.

Ph: 0731-6619100

No comments:

Post a Comment