Precious Metals to Shine :: Edelweiss, link

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Commodity Weekly Perspective

• Precious metals are expected to trade lower, extending last weeks decline. Prices, have come under pressure after Swiss voters rejected a proposal to boost central bank gold reserves. Further on domestic exchange prices may also come under pressure amid news that India has scrapped a rule mandating traders to export 20 percent of all gold imported into the country.
• Crude has weakened on OPEC’s decision to keep production target unchanged and this has eased inflation worries, also reducing gold’s appeal as an inflation hedge.
• Base metals may trade on a lower note tracking weakness in international exchange. Copper prices have fallen to the lowest level in four and half years amid steep decline in Crude oil prices. Also putting pressure on the prices is weakening concerns of global economy. However, factors like to lend support prices is expectation of easier monetary policy by central banks of major economies like China, Euro Zone and Japan.

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