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Gold Prices Continue to Rise

Gold prices continue to rise, this is an excellent investment opportunity for staple investor, the week has begin on a optimistic note. Broad-based buying knowledge across product counters led to price revival in industrial commodities. Gold has formerly once more hogged the lime-light with the yellow metal scaling new high in todayĆ¢€™s meeting. The common buying bender in commodities and chiefly gold continued as fears of rise and also the increasing worry between Iran and western world adding to doubt in global trade. The dollar deteriorating next to basket of currencies has also aided to product price gain. December resolution crude oil agreement replaced the November agreement which expired on Friday. This has also eager investors to take fresh bets on the commodity.

Crude oil price rise over $78 a barrel, addition over a 1% in todays sitting amid heightened tension between and Western nations, following Tehran said it would start war games to help defend its nuclear amenities. Nymex crude for January release rise 92 cents to $78.39 a container. The December agreement, which expire on Friday, developed down 74 cents at $76.72 a barrel, weigh down by a stronger US dollar and concern about the power demand outlook. Meanwhile, Iran's military supposed it would start large-scale air defence drills, and a cleric in the radical Guards warn the Islamic Republic would fire missiles. OPEC governor said the crude advertise was in equilibrium and oil supply and demand was shut to each other. Money manager boost net long crude oil position on the New York Mercantile swap in the week during November 17. On MCX crude oil agreement opened stronger tracking abroad markets.

Gold strike fresh record highs on Monday as financial uncertainty and the possible for inflation drew investor to the relative constancy of the asset. Comex December gold rise $18.40 to $1,165.20 an small amount on the Nyme. Spot gold was offer at $1,165.20 an ounce, after have earlier reach a record $1,167.45. The metal's price on Friday finished higher for the sixth successive session. 's acquisition of 200 tones of bullion from the IMF had also boost interest in gold previous this month. On the MCX, bullion counter ongoing strong which gold inking strapping gain in early hours. MCX Gold for December resolution after opening the meeting at Rs 17,408 per 10 gram rise to Rs 17,557 a new life high before correcting to present level of Rs 17,529.

source : Mining News -