• Bullions
Gold futures held onto modest gains Tuesday following reports of increased bullion purchases by central banks. The central banks of Turkey, Russia, South Korea and Kazakhstan increased their gold reserves in July. The latest IMF data showed South Korea increased its holdings of gold by nearly 16 tonnes in July, along with Paraguay, which raised its reserves in July from a few thousand ounces to more than 8 tonnes, continuing the trend among central banks to hold more bullion. U.S. home prices rose for a sixth straight month in July in the latest sign of a sustainable housing market recovery, while a jump in consumer confidence this month offered a harbinger that Americans are ready to loosen their spending. Protesters clashed with police in Spain's capital on Tuesday as the government prepares a new round of unpopular austerity measures for the 2013 budget to be announced on Thursday.
• Base—Metals
Copper rose yesterday, recovering nearly prior day's losses, after a double dose of positive economic data in the United States bolstered investor appetite for risk. Data later in the day showing U.S. consumer confidence jumped to its highest level in seven months in September as Americans were more optimistic about the job market and income prospects supported the move higher. Also supporting prices, was Monday's news that China's Yunnan province will stockpile 300,000 tonnes of industrial metals, including aluminum, copper and zinc, from local producers under a plan that will also help smelters secure more bank loans. The positive tone spread across the wider base metals complex, with London Metal Exchange (LME) lead futures ending the day at a near eight-month high and nickel touching a five-month peak.
• Energy
Nymex crude-oil futures fell amid concerns over weak demand and rising inventories. U.S. oil inventory data due today are expected to show a 1.6-million-barrel rise in crude-oil stocks, a one-million-barrel gain in stocks of distillates such as diesel fuel and heating oil and a 300,000-barrel-rise in gasoline stocks. Saudi Arabia and its Gulf allies want to see Brent prices drop to $100 a barrel, a more-comfortable level for the ailing global economy. Their higher output is battling against worries about the potential for disruptions in supplies from the world's oil patch as rhetoric over Iran's nuclear program increases.
MCX GOLD
 31458.0 |
Change
58.0 |
Open
31429.0 |
High
31478.0 |
Low
31429.0 |
INTERNATIONAL GOLD
 1,765.10 |
Change
-1.30 |
Open
1,762.70 |
High
1,767.70 |
Low
1,761.50 |
MCX SILVER
| 62466.0 |
Change
152.0 |
Open
62390.0 |
High
62535.0 |
Low
62390.0 |
INTERNATIONAL CRUDE
| 109.84 |
Change
-0.61 |
Open
109.88 |
High
110.23 |
Low
109.78 |
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