Gold nears Rs 15k-mark on global rally
MUMBAI: Gold prices closed in on the crucial Rs 15,000-mark in domestic market on Wednesday on the back of a strong rally in international markets, which triggered speculative buying in local markets. In Delhi, standard gold shot up by Rs 140 to close at Rs 14,970 per 10 gm. In Mumbai, prices of standard and pure gold hardened by Rs 155 each to Rs 14,805 and Rs 14,875 per 10 gm, respectively. In international markets, futures gold crossed $930 an ounce as the dollar lost ground against the euro, boosting yellow metal's appeal as an alternative investment. In London, spot gold touched at $928.60 an ounce — its highest since April 2, against $921.85 in New York on Tuesday. Meanwhile, domestic silver crossed Rs 23,000-mark per kg after a gap of 2-1/2 month on the back of higher global cues. In Mumbai, silver ready resumed 2-1/2 month high at Rs 23,005, but later drifted lower to close at Rs 22,840. Previously, it was closed at Rs 23,235 on February 24 this year.
Oil crosses $59
LONDON: Oil rose above $59 a barrel on Wednesday, a day after hitting a six-month high, supported by a US government report that showed a surprise drop in crude stocks in the world's top consumer. US light crude for June was up 42 cents at $59.27 a barrel at 22:00 pm locally. It climbed to an intraday peak of $60.08, the highest since November, on Tuesday. London Brent crude was up 46 cents to $58.40.
Copper falls to 2-week low
LONDON: Copper prices slid to a two-week low on Wednesday, as the dollar firmed and on signs of a possible slowdown in buying from China, the world's top consumer of the metal. Copper for three-month delivery on the London Metal Exchange traded at $4,433, the lowest since April 30. The metal was last seen at $4,486 a tonne from Tuesday's last bid at $4,595 a tonne. Aluminium was lower at $1,527 a tonne from Tuesday's $1,546.
Palm hits 9-month high
KUALA LUMPUR: Malaysian palm futures jumped as much as 2.7% to a nine-month high on Wednesday as investors fretted over hot dry weather cutting into output in Malaysia and rival soyaoil producing Argentina. The benchmark July contract gained as much as 74 ringgit at 2,799 ringgit ($792.2) per tonne before settling at 2,789 ringgit.
MUMBAI: Gold prices closed in on the crucial Rs 15,000-mark in domestic market on Wednesday on the back of a strong rally in international markets, which triggered speculative buying in local markets. In Delhi, standard gold shot up by Rs 140 to close at Rs 14,970 per 10 gm. In Mumbai, prices of standard and pure gold hardened by Rs 155 each to Rs 14,805 and Rs 14,875 per 10 gm, respectively. In international markets, futures gold crossed $930 an ounce as the dollar lost ground against the euro, boosting yellow metal's appeal as an alternative investment. In London, spot gold touched at $928.60 an ounce — its highest since April 2, against $921.85 in New York on Tuesday. Meanwhile, domestic silver crossed Rs 23,000-mark per kg after a gap of 2-1/2 month on the back of higher global cues. In Mumbai, silver ready resumed 2-1/2 month high at Rs 23,005, but later drifted lower to close at Rs 22,840. Previously, it was closed at Rs 23,235 on February 24 this year.
Oil crosses $59
LONDON: Oil rose above $59 a barrel on Wednesday, a day after hitting a six-month high, supported by a US government report that showed a surprise drop in crude stocks in the world's top consumer. US light crude for June was up 42 cents at $59.27 a barrel at 22:00 pm locally. It climbed to an intraday peak of $60.08, the highest since November, on Tuesday. London Brent crude was up 46 cents to $58.40.
Copper falls to 2-week low
LONDON: Copper prices slid to a two-week low on Wednesday, as the dollar firmed and on signs of a possible slowdown in buying from China, the world's top consumer of the metal. Copper for three-month delivery on the London Metal Exchange traded at $4,433, the lowest since April 30. The metal was last seen at $4,486 a tonne from Tuesday's last bid at $4,595 a tonne. Aluminium was lower at $1,527 a tonne from Tuesday's $1,546.
Palm hits 9-month high
KUALA LUMPUR: Malaysian palm futures jumped as much as 2.7% to a nine-month high on Wednesday as investors fretted over hot dry weather cutting into output in Malaysia and rival soyaoil producing Argentina. The benchmark July contract gained as much as 74 ringgit at 2,799 ringgit ($792.2) per tonne before settling at 2,789 ringgit.
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