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Thursday, April 7, 2011

MCX Commodity Market Outlook | Trading Strategy For today

Gold tops $1,460/oz ahead of euro zone rates meeting today
Silver hits 31-year peaks Today.
Copper rose to a one-week peak on Wednesday.
Aluminium rises to highest since Sept 2008.
Lead hits new multi week high.

Gold hit a record high for a second straight session on Wednesday, powered by
investor demand for safe-haven assets and a slide in the dollar in anticipation of a euro zone rate hike, while silver hit fresh 31-year peaks. Oil prices hit fresh peaks on Wednesday, rising to their highest since August 2008, buoyed by unrest in the Middle East and North Africa and dollar weakness ahead of an expected European Central Bank interest rate rise. Copper rose to its highest in about a week on Wednesday, as the euro scaled multi-month highs against the dollar and on prospects of better commodity imports data from top consumer China.

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