mcx commodity updates 21/aug/2013

Bullion 

Gold 

Concerns over tapering by the Federal Reserve has begun to cap sharp gains in gold prices and in the international and domestic markets both, the yellow metal slipped from the highs seen during the day.

Spot Gold prices gained marginally by 0.4 percent on Tuesday to close at $13 /oz. In the Indian markets, prices slipped from a high of Rs31,179/10gm to close at Rs30,812/10gm, losing more than 1 percent. A reversal in the trend of the Rupee added to further losses in the currency.


Silver

Spot Silver prices declined 0.6 percent yesterday and closed at $23/oz. After witnessing a strong upside movement, the white metal came under pressure as markets show signs of concerns ahead of the Fed’s Meeting Minutes that are expected to be released today.

Energy
Crude Oil

Nymex crude oil prices declined around 2 percent yesterday on the back of expectations that US Federal Reserve will begin its QE tapering program from next month.

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