August 03, 2011

MCX Gold Market 03 Aug | MCX News 03 Aug (Bullion, Basemetals)

MCX Crude Oil settled below USD 94 a barrel Tuesday at global platform. Brent crude, which is used to price many international oil varieties, fell 35 cents to settle at USD 116.46 a barrel on the ICE future exchange in London. MCX gold hits a new all time high on Wednesday at COMEX and a  Safe haven demand on back of global economic concerns is seen in support gold prices. The US dollar index trades little changed today after 0.5% gain yesterday. US personal income increased 0.1% in June, the smallest gain since last November. Deal reached to end South African gold mine strike. Gold holdings with SPDR ETF rose by 18.17 tonnes to 1281.754 tonnes. Silver holdings with iShares ETF were unchanged at 9824.93 tonnes 
The spot gold silver ratio stood at 40.67 on Tuesday as against 41.23 a day earlier.
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