Saturday, August 20, 2011

MCX Commodity Market Updates Today | MCX Gold & Silver Tips

Gold prices furthered their record breaking momentum on Friday by catapulting to fresh record crest for the fourth time this week, as marketmen continued to take refuge under the safe haven amid escalating fears of a double dip recession coupled with growing uncertainties looming over the Euro-zone debt crisis.

A session after the free fall, Copper prices recovered some lost ground on last trading session of the week after investors resorted to some short covering on expectations that top consumer China may take advantage of the prevailing lower prices and rebuild stockpiles amid speculations of supply constraints.

Crude prices
on Nymex fell on Friday in choppy trading, in morning trading, prices hit the day's highs, helped by a decline in the dollar and a rebound on Wall Street however equities turned lower later, weighing on the prices. Though, Brent rose, managing a small weekly gain as the dollar fell to a record low against the yen.

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