Market Update

Market Watch

Monday, 20 January 2014

Watch Today’s MCX Bullion Market Highlights

•Gold edged higher on Monday to its highest in nearly six weeks, supported by weaker equities, which are lifting the metal's safe-haven appeal and improving.

•Silver markets had a slightly positive session on Friday, bouncing off of the $20 level. This area was supportive enough to cause a positive reaction, but not enough to break out to the upside. Silver also recovered Rs 600 to Rs 45,200 per kg on increased off take by industrial units and coin makers.

•The main trade union for South African platinum miners will strike this week at the world's top three producers, hitting over half of global output and the margins of companies struggling to make profits.

•West Texas Intermediate crude slid from the highest closing price in two weeks after government data showed that industrial output slowed last month in China, the world’s second-biggest oil consumer.

•Copper fluctuated before the release of China’s industrial production and gross domestic output data. Nickel headed for its first decline in seven days.

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