Crude oil prices witnessed recovery in the evening session while base metals traded upside on lower supply fears. The dollar index ended marginally down which helped commodities to trade frim for the day.
CEO of Bangalore Complex, HAL, Amitabh Bhatt said Additive Manufacturing is a disruptive technology and is going to play a big role in the manufacture of components used in the Aerospace and Defence Industry in the future.
Metal index stood out strongly, gaining for the straight sixth session. The metal index has more room on the upside. Hence, stock specific-rally is likely to continue.
Silver prices did briefly surge, and for a few days, retail silver coin sites were totally sold out.
Has there been a change in the fundamentals or is it just the speculative mode of investors driving the metal's prices?
Wardha District Collector Vivek Bhimanwar told the injured workers were admitted to two nearby hospitals, while those in critical condition were shifted to Nagpur for further treatment.
On the momentum front, RSI for MCX Gold is trading around 40 suggesting sideways to weaker trend. For the day price is likely to continue trading in the broad range of Rs 49,300-48,100 with a sideways bias.
Bullion prices surged on easy monetary policy from major central banks while dollar fell for the third straight day on stimulus hopes. The profit booking in Bitcoin also boosted buying in precious metals.
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