Thursday, 3 January 2013

Commodity News for the day 3rd. Jan 2012

Gold traded near a two-week high as expectations that policy makers around the world will continue to support their economies increased demand for a store of value. Silver climbed as investors boosted holdings to a record.

Holdings in the SPDR Gold Trust, the world's largest gold-backed exchange traded fund, stood at 1349.92 tonnes by Jan 02, down by 0.60 tonnes from the previous business day.

Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust stood at 10084.96 tonnes by Jan 02, remains unchanged from the previous business day.

Farmers are flocking to jewellery shops to buy gold, boosting rural demand that accounts for about 70% of the precious metal sold in India and starting 2013 on a glittering note for the bullion trade after a slump last year.


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