Market Update

Market Watch

Friday, 18 October 2013

Highlights of Mcx Market

• Gold demand across Asia will keep expanding as inflation spurs investment purchases, said HSBC Holdings Plc, estimating that the region’s share of worldwide consumption jumped in the past decade.

• Gold was trading near one-week highs on Friday and headed for its best weekly gain in two months on hopes that uncertainties in Washington would delay Federal Reserve stimulus tapering after U.S. lawmakers reached only a temporary budget deal.   

• Gold has added 3.5 percent for the week, largely on Thursday’s.

• Spot gold eased 0.2 percent to $1,316.31 an ounce by 0015 GMT, after gaining 3 percent in the previous session.

• SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 3.3 tonnes to 882.23 tonnes on Thursday.

• Silver futures for December delivery advanced 2.7 percent to $21.947 an ounce.

• Copper rose, heading for the first advance in three weeks, as Chinese economic data may show a recovery in the world’s biggest metals user. On the LME, aluminum rose, while nickel, lead and zinc were little changed

• Demand for jewelry, bars and coins in India, Greater China, Indonesia and Vietnam increased to about 60 percent of the global total compared with 35 percent in 2004.


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