04:15
SHARE MARKET REVIEW
CRUDEOIL
Oil rose for a second day in New York, paring its fourth weekly decline, as support among European Union leaders for joint euro-area bonds fueled speculation that the bloc can resolve its debt crisis.
Crude for July delivery gained as much as 66 cents to $91.32 a barrel in electronic trading on the New York Mercantile Exchange, and was at $91.07 at 11:25 a.m. London time. The contract increased yesterday 0.9 percent to $90.66. Prices are down 0.4 percent this week and 7.9 percent this year.
GOLD
Gold futures fell for the first 3 days of this week by $43.5 or 2.7% before rebounding $9.1 to end at $1,557.5 on Thursday. Year-to-date, gold futures are down 0.6%, worse than S&P at +5.9% and Dollar Index at +2.7% but better than Stoxx at -3.8%, Euro/dollar at -3.3% and CRB Commodity Index at -7.7%.
SILVER
White precious metals weakened as well. Spot silver dropped 1.5% to USD 27.72, on course for its biggest daily decline in a week and a third straight day of decline.
The stronger dollar is pressuring silver, even though the lower prices of the metal have lured back some buying from industrial users in Asia.
COPPER
Copper traders are bearish for a second week after mounting concern that slowing growth in China and Europe would curb demand drove prices to a four-month low. Copper fell 0.2 percent to $7,584.50 a metric ton this year on the London Metal Exchange and reached $7,503 on May 23, the lowest since Jan. 10.
With Best Indian Share Market Tips you can make money from these markets by trading in our Intra-day & long term Stock Market Calls with great accuracy and high profitability…
Subscribe Free by Filling the TRIAL FORM...
