Commodity roundup, weekly updates: 13 Sep, 2014

Commodity roundup, weekly updates: 13 Sep, 2014

Gold declined 2.8% this week

Gold continues decline. Pressure on fifth consecutive day yesterday with gold in the international market has closed at 8-month low. Comex gold has risen close to $ 1,200. In terms of the week gold has declined by almost 3 percent.

Since May of gold has declined so much in a week. Despite the weakness in the rupee in the domestic market gold remains under Rs 27,000. The strength of the dollar in international markets has kept the battered gold. The dollar index is composed at a height of 14 consecutive months. It does show a trend of constantly increasingly than 6 weeks.

Crude declined 1.2% this week

This week is not good for crude. Despite concerns of rising global crude oil offloading victim of supply. US good jobs data, crude was little support but could not stop the decline. Volatility too overpowering yesterday after crude oil declined by nearly one percent is closed under $ 93. Brent crude is deeper in the fall. It is still selling on 2-year lows. Price has been below $97.

In terms of the week Nymex crude has declined 1.2 per cent. However, with the boom in the MCX domestic market was closing above Rs 5,650.

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Posted in Commodity, MCX

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