• Facebook
  • Twitter

Gold futures dropped, as traders recommended the safe home of the dollar and treasuries after some poor economic data revealed US production industry dropped more than predicted in May, the first time in almost three years.

Demand for gold from the biggest gold customer, India, stayed bad as a recent devaluation in the rupee brought up prices for local buyers.

Gold holdings of SPDR gold believe in, the biggest ETF supported by the precious metal, dropped to 1,279.50 plenty, as on June 29.

Silver holdings of ishares silver believe in, the biggest ETF supported by the metal, dropped to 9,685.70 plenty, as on June 29.

Copper prices declined by almost 1%, in line with a weaker euro as a string of bleak global macro-economic data reignited concerns over demand for the red metal.

Copper futures for Sept. delivery closed down by almost 1% at $3.468 per pound on the COMEX of the New York Mercantile Exchange.

Crude oil prices declined after a weak manufacturing data from the United States, Europe and China reinforced concerns about slowing economic growth and its threat to demand for  etroleum & its  roducts.

Natural gas futures closed on a flat note, recovering from its earlier losses driven by moderating weather forecasts.

Leave a Reply