Daily Commodity Trends

[Ritika Sharma]

Gold inched up on Friday, heading for its biggest weekly rise in over two months, on the prospect of monetary policy remaining loose after U.S. President Barack Obama's re-election, and worries about looming fiscal woes driving safe haven bids.

London copper edged up on Friday, extending gains from the previous session as investors hoped for fresh economic stimulus measures in top metals consumer China on the back of a leadership transition there, although the looming fiscal crisis in the United States capped gains.

Silver rose 1.83 percent to $32.34 an ounce.

 

[Ritika Sharma]

GOLD
Gold edged up on Monday after posting a 1 percent loss in the previous week, tracking a positive tone in equities on hopes of progress in the U.S. budget talks, while rising tensions in the Middle East supported its safe-haven appeal.
SILVER
U.S. silver edged up to 27,802 contracts from 27,350 contracts a week earlier, its lowest since late August.
COPPER
London copper rallied almost 1 percent on Monday, with traders expecting fresh shoots of economic revival to be revealed in China this week, while hopes that U.S. lawmakers would avert a looming fiscal crisis also stoked appetite for risk.

 

[Ritika Sharma]

GOLD
Gold traded little changed on Tuesday, retaining the more than 1 percent rise from the previous session driven by Middle East tensions, but a stronger dollar weighed on sentiment after Moody's downgraded France's credit rating.
SILVER
Spot silver rose 2.8 percent to $33.10 an ounce.
COPPER
London copper edged back on Tuesday from two-week highs in the previous session after the U.S. housing market showed unexpected vitality while Greece was set to receive the next round of aid, boosting risk appetite and soothing worries over metals demand.

 

[Ritika Sharma]

SILVER

Silver climbed 0.5 percent to $33.33 an ounce.
COPPER
Copper fell for a second day on Wednesday after investors across financial markets worried about the failure of policymakers in Europe to agree on a deal to release emergency aid to Greece.
GOLD
Gold inched up on Wednesday in a narrow range, caught between recession worries in Europe and the United States and safe-haven bids over concerns about violence in the Middle East.

 

[Ritika Sharma]

Gold fell $1.85 an ounce to $1,750.54 by 0017 GMT after rising to $1,754.10 on Friday, its strongest since Oct. 12 due to a drop in the dollar and options-related buying. Bullion has gained around 11 percent this year, mainly due to expectations U.S. monetary policy will remain loose.
London copper edged down on Monday after rising for two weeks in a row, although signs top consumer China was staging an economic recovery and hopes Greece would avert an imminent bankruptcy kept a floor under prices.

 

[Ritika Sharma]

GOLD
Gold inched up on Tuesday, tracking a higher euro after Greece's international lenders reached a deal on a new debt target, key to unlocking the next instalment of emergency aid for Athens.
SILVER
Silver inched up 10 cents to $34.11 an ounce
COPPER
London copper hit a near one-month high on Tuesday after lenders secured an aid deal for Greece, boosting the euro and building on confidence over copper demand after signs of economic revival in top consumer China.

 

[resin17]

Euro deals are all good, but I think that PMs are currently more influenced by USDX. It's bounced today, hence PMs rolled down.

 

[Ritika Sharma]

GOLD
Gold ticked higher on Thursday, after suffering its biggest daily decline in nearly four weeks in the previous session, as the looming deadline for averting a U.S. fiscal crisis kept investors on their toes.

SILVER
Among other precious metals, silver fell in line with gold but also rebounded off a one-week low at $32.89. It was last traded 1 percent lower at $33.68 an ounce.

COPPER
London copper edged up on Thursday, after a prominent U.S. lawmaker expressed confidence the world's top economy would avert a looming fiscal crisis, but worries China's return to growth will be sluggish kept a lid on prices.

 

[Ritika Sharma]

GOLD
Gold traded flat on Friday as uncertainty surrounding the U.S. budget talks kept sentiment muted, while bullion was on track for a 1.6 percent weekly decline – its biggest in four weeks.

SILVER
Silver rose 1.6 percent to $34.27 an ounce.
COPPER
London copper slipped on Friday but was set to finish the month higher on signs a recovery in China's economic growth took root in November, although worries over Europe and the United States kept gains constrained.

 

[Ritika Sharma]

GOLD
Gold traded steady on Monday, after posting its second consecutive monthly decline in November, as uncertainty about the U.S. budget negotiations kept investors on tenterhooks.

SILVER
Silver fell 2.7 percent to $33.29 an ounce.’

COPPER
Copper prices climbed above $8,000 for the first time since Oct. 23 last week and is expected to extend its advance on chart-based buying after prices also broke above the 200 day moving average around $7,905.

 

[kih]

Gold is in declining mood today. Today's lowest so far stands at $1690.7

 

[kih]

Hi Ritika

Can I have the website of Global Money Financial Services please?

 

[Ritika Sharma]

GOLD
Gold was quoted at $1,696.15 an ounce by 0013 GMT, after falling to $1,690.64 on Tuesday, its weakest since Nov. 6, on heavy fund liquidation and options-related selling.
SILVER
Spot silver dropped 2.1 percent to $32.90.
COPPER
London copper opened steady on Wednesday, easing from a six-month high hit in the previous session as a deadlock in U.S. budget talks pressured sentiment.

 

[Ritika Sharma]

GOLD
Gold nudged higher on Friday, extending gains from the previous session when bullion was boosted by prospects of future interest cuts by the European Central Bank, but the precious metal was headed for its second straight week of decline.
SILVER
Among other precious metals, silver was up 0.4 percent at $32.98 an ounce
COPPER
London copper was steady on Friday and was set to close the week little changed as traders focused on the United States for progress in talks to avert a looming fiscal crisis and a crucial jobs report.

 

[Ritika Sharma]

GOLD
Gold was steady on Monday above $1,700 an ounce, as a drop in the U.S. unemployment rate did little to dampen the outlook for easy monetary policy, which has supported sentiment in bullion.
COPPER
London copper rose on Monday after data showed China's economic growth picked up to eight month highs in November, but lingering worries that the euro zone may return to recession next year dragged on the euro and kept a lid on gains.

 

[Ritika Sharma]

GOLD
Gold was little changed on Wednesday ahead of the outcome of a U.S. Federal Reserve policy meeting that investors hope will unveil more bond buying measures, supporting bullion's appeal as a hedge against inflation.
SILVER
Silver was down 1 percent at $32.85 an ounce.
COPPER
London copper was little changed on Wednesday as signs of a revival in China's economic growth and hopes of further easing by the United States underpinned prices, while ongoing wrangling over the U.S. "fiscal cliff" weighed on sentiment.

 

[Ritika Sharma]

GOLD
Gold tumbled more than 1 percent on Thursday on stop-loss selling, after the Fed's announcement of a fresh round of bond buying pushed prices to their highest in nearly two weeks.
SILVER
Silver, which tends to be more volatile than gold, rose 1.7 percent to $33.51 an ounce.
COPPER
London copper slipped on Thursday, weighed by a dollar recovery after it tumbled in the wake of the Fed's Reserve's announcement that it would keep interest rates near zero until employment falls to at least 6.5 percent.

 

[Ritika Sharma]

GOLD
Gold was little changed on Monday after posting the third straight week of losses, as investors await progress on the negotiations in Washington to avert a fiscal disaster that could push the world's top economy into recession.
COPPER
London copper was steady on Monday, consolidating from a five-week winning streak on signs of reviving growth momentum in top consumer China, but protracted wrangling over the U.S. "fiscal cliff" kept a ceiling on prices.

 

[Ritika Sharma]

GOLD
Gold fell $1.90 an ounce to $1,654.19 -- within sight of a four-month low of $1,635.09 struck last week.
SILVER
Silver was little changed at $30.06 an ounce''
COPPER
London copper edged up on Monday, after posting its biggest weekly drop in more than six months, while uncertainty about the U.S. fiscal talks kept prices trapped in a tight range.

 

[Ritika Sharma]

GOLD
Gold edged lower on Wednesday on uncertainty over whether the United States will avoid a fiscal crisis, although a weaker yen sparked a rally in Tokyo bullion futures.
COPPER
The most-traded April copper contract on the Shanghai Futures Exchange was little changed at 57,150 yuan ($9,200) a tonne by 0212 GMT, easing from a one-week high of 57,280 yuan hit earlier in the day.:clap: