Commodity Market Highlites:Market Updates

Ahead of an extended weekend, bullions, base metals as well as crude oil rose as dollar weakened. US markets and LME will remain closed on Monday, 30 May. Optimistic view on the global economy by the Group of Eight leaders lifted market sentiments. According to the Group of Eight leaders the global economic recovery was gaining strength and will pave way for reductions in debt. Group of Eight leaders’ meet in France will conclude today. Gold and silver rose after the
previous session fall as debt crisis in euro zone lured investors towards safe havens. Base metals were up in LME with copper recovering from the previous session losses in lackluster trades ahead of the holiday. In Mcx, base metal complex gained on global cues with copper and nickel gaining the most. Weakening dollar and positive global economic outlook lifted crude oil prices too.


Post a Comment