Market Update

Market Watch

Saturday, 9 November 2013

Indian Commodity Gold, Silver Market Latest News

Gold dropped 1.7 percent on Friday, notching its biggest one-day fall in more than a month. The metal fell 2.2 percent for the week, its second consecutive weekly loss.

Gold has lost about a fifth of its value this year due to fears the Fed would begin cutting back its $85 billion monthly bond purchases.

Among other precious metals, silver was down 1 percent at $21.43 an ounce. Platinum fell 0.6 percent to $1,439.49 an ounce, while palladium dropped 0.4 percent to $755.47 an ounce.

Copper futures rose for the second straight day as a jump in payrolls boosted economic optimism and prospects for demand in the U.S., the world’s second-biggest user of the metal. Aluminum, lead and nickel dropped in London, while zinc and tin advanced.

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1 comment:

  1. Gold and silver ware not doing good due to dollar. It is better to stay away from gold shares. As it is getting volatile now a days. It is better to take Mcx tips from a provider before entering gold market.