August 01, 2011

MCX Gold and Silver 01 Aug | MCX Online News 01 July

Gold prices in commodity market are touching its record high. U.S. economy stumbled in the first half of 2011. Crude Oil falls on weak U.S. GDP. Gold market touched another all-time high on Friday index at MCX and globally as investors sought a safe haven after anemic U.S. growth data raised the specter that a potential recession could spur the Federal Reserve to loosen monetary policy. 
Silver MCX price rose 0.8 percent to $39.97 an ounce at global market, but was off a more than two-month high of $41.42 hit this week. It posted a gain of around 15 percent for July, its best month since April. Oil prices fell on Friday, posting a weekly loss after data showed weak U.S. economic growth. MCX Copper ended up a shade in choppy trade on Friday, failing to sustain a surge to three-month highs as economic jitters limited the bullish impact of Chilean supply shocks.
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