- Gold prices slid lower in European morning hours on Friday, pulling away from a two-month peak as the U.S. dollar regained some ground after the People’s Bank of China set a higher yuan guidance rate for the first time in nine days. On the Comex division of the New York Mercantile Exchange, gold futures for February delivery were down 0.71% at $1,099.90.The February contract ended Thursday’s session 1.46% higher at $1,049.60 an ounce.
- Copper futures advanced during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal as China’s decision to refrain from further weakening of the Yuan eased concerns over the health of the world’s second biggest economy lifting the demand outlook for industrial metals. China is the world’s biggest metals consumer making up for more than 40 per cent of global copper consumption.
- Natural Gas futures soared in the domestic and overseas market on Thursday as investors and speculators booked fresh positions in the energy commodity as a bigger than expected dip in US storage levels last week signaled a pickup in heating demand for the fuel as cold weather resulted in higher consumption of gas-fired electricity at offices and homes in the world’s biggest economy.
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