SILVER SLIPS 10 PC, GOLD OFF RECORD.
CRUDE OIL DROPS MOST IN TWO WEEKS.
COPPER POST LOSSES, RECOVERS FROM EARLY DIP.
SPICES COMPLEX TRADE BEARISH.
Click Here to Read More About Silver why is Fluctuate
Silver and Gold were within sight of historic highs on Friday and could resume an uptrend as the U.S. dollar held near three-year lows against a
basket of currencies on hopes U.S. monetary policy would stay ultra-loose, keeping inflationary price pressures high. A fresh batch of U.S.
economic data in the form of rising claims for jobless benefits failed to rescue the dollar, which had dropped to its weakest level since July 2008
against other currencies before recovering slightly. Silver barely moved, standing at 48.35 an ounce, after having rallied to a record at $49.51 an
ounce on Thursday. Gold eased 75 cents to $1,534.20 an ounce after hitting a lifetime high around $1,538 an ounce in the previous session. But
dealers said strong investment demand for silver would keep the metal at record levels, while a lack of scrap sales in the physical market
suggested that investors expected more gains. Year to date, silver was up almost 60 percent, sharply above Gold's 8 percent gain. The CME Group
Inc, parent of the Chicago Board of Trade, said on Thursday it would raise maintenance margins for COMEX 5000 Silver futures by 13.2 percent,
making it more expensive for silver speculators to trade in. The dollar index which tracks the currency's performance against a basket of major
currencies was down 0.1 percent at 73.030, having plumbed a three-year low of 72.871 on Thursday. It is down around 1.4 percent so far this
week, on track for its biggest weekly drop since a 2.5 percent fall in the week to Jan. 16. Sentiment for the dollar took a hit this week after the
Federal Reserve said it was in no hurry to tighten its ultra-loose monetary policy, a move that gave investors the green light to keep using the
dollar as a funding currency to buy higher-yielding assets.
MCX Gold and Silver tips On mobile Free Click Here
CRUDE OIL DROPS MOST IN TWO WEEKS.
COPPER POST LOSSES, RECOVERS FROM EARLY DIP.
SPICES COMPLEX TRADE BEARISH.
Click Here to Read More About Silver why is Fluctuate
Silver and Gold were within sight of historic highs on Friday and could resume an uptrend as the U.S. dollar held near three-year lows against a
basket of currencies on hopes U.S. monetary policy would stay ultra-loose, keeping inflationary price pressures high. A fresh batch of U.S.
economic data in the form of rising claims for jobless benefits failed to rescue the dollar, which had dropped to its weakest level since July 2008
against other currencies before recovering slightly. Silver barely moved, standing at 48.35 an ounce, after having rallied to a record at $49.51 an
ounce on Thursday. Gold eased 75 cents to $1,534.20 an ounce after hitting a lifetime high around $1,538 an ounce in the previous session. But
dealers said strong investment demand for silver would keep the metal at record levels, while a lack of scrap sales in the physical market
suggested that investors expected more gains. Year to date, silver was up almost 60 percent, sharply above Gold's 8 percent gain. The CME Group
Inc, parent of the Chicago Board of Trade, said on Thursday it would raise maintenance margins for COMEX 5000 Silver futures by 13.2 percent,
making it more expensive for silver speculators to trade in. The dollar index which tracks the currency's performance against a basket of major
currencies was down 0.1 percent at 73.030, having plumbed a three-year low of 72.871 on Thursday. It is down around 1.4 percent so far this
week, on track for its biggest weekly drop since a 2.5 percent fall in the week to Jan. 16. Sentiment for the dollar took a hit this week after the
Federal Reserve said it was in no hurry to tighten its ultra-loose monetary policy, a move that gave investors the green light to keep using the
dollar as a funding currency to buy higher-yielding assets.
MCX Gold and Silver tips On mobile Free Click Here
