MCX Copper Tips for Today : Copper yesterday settled down by 1.61% at 605.3 as Chinas imports of unwrought copper and copper products fell for a third consecutive month to 512,332 tonnes in December 2020, marking a 8.7% drop from 561,310.7 tonnes in November and tanking to their lowest monthly level since May.
Neal Bhai
Barrick Production Rose as Costs Fell in the Fourth Quarter
Barrick Gold Corp. produced more of the precious metal with lower costs in the 4th quarter than the previous period as it met its fullyear gold guidance amid the global pandemic.
Gold Prices Down by Rs 8,500 and Silver Rs 14,500 in last Five Months
Gold prices witnessed a massive plunge in the past week and dropped to Rs 48,702 per 10 gram on the last trading day of the week. On Friday, gold prices registered a steep fall of Rs 519 on the MCX exchange, while the gold futures price of April 5, 2021, was closed at Rs 48,715 per 10 grams with a decline of 514 rupees on MCX on the last trading day of the week.
Will Gold bounce back this week?
Will Gold bounce back this week? : Gold prices have recently corrected from their alltime high level of Rs 56,200 per 10 gram to Rs 47,500 per 10 gram. However, the prices bounced back to Rs 49,000 per 10 gram level as the USdollar touched a 2.5-year low, backed by hopes over US Covid19 stimulus aid. Backed by positivity on vaccines, a raging bullmarket in equities is also putting pressure on the yellow metal.
India gold demand : In 2021, you will see a big spurt in demand
Gold demand in the world’s second-biggest user will rebound this year after collapsing in 2020 as the rollout of vaccines pushes life back closer to normal, according to the World Gold Council.