Yellow metal marks another new high

News Flash

MAY JOIN RACE FOR SHELL'S EUROPEAN REFINERIES: SOURCES
SENSEX, NIFTY UP 1% EACH FOR THE WEEK
CNX MIDCAP INDEX UP 1%, BSE SMALLCAP INDEX UP 1.6%
METAL INDEX UP 3.7%, AUTO INDEX UP 2.3%, FMCG UP 1.5%
INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
CESC, SREI INFRA IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)
PROFIT UP 55% AT RS.143.50 CR; NET SALES UP 22.5% AT RS.2234.20 (YOY)
IMPORTING SUGAR BEING REVIEWED; NEED FOR ECONOMIC PRICING OF SUGAR
IN DISCUSSIONS WITH FARMERS TO COME AT PRICE COMFORTABLE FOR BOTH SIDES
TOO EARLY TO TALK OF DENA BANK MERGER WITH ANOTHER PSU BANK: NW
KEEPS OVERNIGHT LENDING RATE UNCHANGED AT 0.1%
STILL SEE DOWNSIDE RISK FOR THE ECONOMY
AIM TO CONVERT NON USERS TO USERS WITH THE HELP OF ROAMING TARIFF CUTS
PREFER TO REMAIN AGGRESSIVE WITHOUT GETTING INTO A PRICE WAR
MURTAZA KHORAKIWALA TO NDTV: CANNOT COMMENT ON SUB JUDICE MATTER
WOCKHARDT TO PAY BACK ALL SECURED, UNSECURED LOANS IN 5 YRS AS PER CDR
DBS TOP BRASS MET HABIL KHORAKIWALA TO DISCUSS WAYS OF SETTLEMENT: SRCS
EYEING TO SETTLE PAYMENT DEFAULT CASE OUT OF COURT: SOURCES
ALERT: ROAMING CONTRIBUTES 15% OF BHARTI REVENUES
ROAMING CALLS ON OTHER NETWORKS AT 80 PAISE/MINUTE
ROAMING CALLS ON OWN NETWORK AT 60 PAISE/MIN
SWAP TO REDUCE OVERALL FINANCE CHARGES FOR THE COMPANY: CFO
COMPLETES SWAP OF $875MN FOREX CONVERTIBLE BONDS

Updated: 05/11/2009 | 12:00 AM IST

Other markets

Capital Market

Thursday, November 05, 2009 (New Delhi)

Blog

Comments:

Read (0)

Post

Rate the story

Precious metal prices ended substantially higher on Wednesday, 04 November, 2009. Yellow metal marked another record high. Prices shot up as Federal Reserve said that it will continue with its ongoing monetary policy and the same weakened the dollar.

Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa.

On Wednesday, gold for December delivery ended at $1,092.1, higher by $4.8 (0.44%) an ounce on the New York Mercantile Exchange. Earlier, it rose to a high of $1094. This was an all time high for the yellow metal. Year to date, gold prices are higher by 24%.

Gold ended October 2009 higher by 3.8%. For the third quarter it ended higher by 8.7%. Before this, for the second quarter, gold ended higher by 0.5%. The metal had gained 4.3% in the first quarter of this year.

On Wednesday, December Comex silver futures ended higher 22 cents (1.3%) at $17.405 an ounce.

Year to date, silver has climbed 60.8% this year. For 2008, silver had lost 24%.

The Institute for Supply Management reported on Wednesday, 04 November, 2009 that its nonmanufacturing index fell to 50.6% from 50.9% in September.

The report showed that business conditions improved in October across a narrower group of companies in the U.S. nonmanufacturing sectors. Readings above 50% indicate more firms said business is improving than said it's worsening.

In the currency market on Wednesday, the dollar index, which calculates the strength of the dollar against a basket of six other currencies fell by 0.5%.

In 2008, gold prices ended higher by 5.5%. The dollar index had gained 12% that year.

At the MCX, gold prices for December delivery closed lower by Rs 30 (0.18%) at Rs 16,588 per 10 grams. Prices rose to a high of Rs 16,677 per 10 grams and fell to a low of Rs 16,527 per 10 grams during the day's trading.

At the MCX, silver prices for December delivery closed Rs 276 (1.02%) higher at Rs 26,990/Kg. Prices opened at Rs 27,0120/kg and rose to a high of Rs 27,994/Kg during the day's trading. .

Powered by Capital Market - Live News