Page 8 - Commodity Research News Today

By 10:00 a.m. ET (1400 GMT), spot gold had decreased by 0.7 per cent to $2,345.62 per ounce, while U.S. gold futures fell by 0.4 per cent to $2,346.10.

Silver hovered at Rs 91,479 per kg to hit an intraday low of Rs 91,461 on the MCX. In the international market, the price hovered around $30.79 per ounce.

Gold prices dipped by Rs 750 per 10 gm on MCX. After posting significant gains in the past few trading sessions, some profit-booking at higher levels was warranted for both gold and silver. Silver prices have gained 14% in May so far and have shown a decline for the past 2 trading sessions.

Silver hovered at Rs 92,840 per kg and hit an intraday low of Rs 90,340 on the MCX. In the international market, the price was around $30.58 per ounce.

Vandana Bharti expects further upside in base metals with potential Fed rate cuts stimulating economic activity and demand. The de-dollarization trend and high CPI in the US are key factors driving copper and industrial metal prices higher.Bharti says: "We are expecting that in LME we can see a level of $11,500 and on COMEX, we are expecting $5.5 or $5.75 in copper."

(This story has not been edited by THE WEEK and is auto-generated from a PTI

(This story has not been edited by THE WEEK and is auto-generated from a PTI

Gold prices have posted significant gains in the past few months, hence some steam off was also warranted.

Silver was priced at Rs 83,795 per kg with an intraday low of Rs 83,054 on the MCX. The price globally hovered around $28.20 per ounce.

Prices pulled off record highs this week as strong U.S. inflation and retail sales data saw investors scale back bets that the Fed will cut interest rates in June.