Monday 4 June 2012

COMMODITY UPDATE 4-June-2012


CRUDE OIL
Oil fell for a fifth day in New York to the lowest price in almost eight months on signs of an economic slowdown in the U.S. and China. London-traded Brent crude dropped from the lowest close in more than a year.

GOLD
Gold eased on Monday as a firmer tone to the dollar prompted some investors to cash in gains after the metal's biggest one-day rally in more than three years, but prices were underpinned by speculation the Federal Reserve could unveil a new round of monetary easing. 

SILVER
At the Multi Commodity Exchange, silver for delivery in July fell by Rs 290, or 0.53 per cent, to Rs 54,193 per kg, with a business turnover of 1,877 lots.
Similarly, the metal for delivery in September lost Rs 298, or 0.53 per cent, to Rs 55,582 per kg, with a business turnover of 62 lots. 

COPPER
The metal for delivery in June declined by Rs 7.35, or 1.80 per cent, to Rs 400.25 per kg in 42,758 lots.
Market analysts attributed the fall in copper futures to a weakening global trend. 

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