Spot Gold which hit a record high of 1622.49 in the previous session remained firm as markets wait for further progress on US debt talks as the deadline to lift the debt ceiling approaches. Base metals as well as crude oil rose supported by a weak dollar.
API Crude oil inventory data which will be released early tomorrow is expected to show a fall. LME Copper rose recovering from the previous week losses. Striking workers in the world’s largest copper mine in Chile are set to hold talks today which will be mediated by the Govt. Earlier today Germany’s GfK Consumer Confidence showed that the levels fell to a ten month low at 5.4 from the previous month’s 5.7.
India’s central bank RBI hiked the interest rates by more than projected fifty basis points to fight persistently high inflation levels.
API Crude oil inventory data which will be released early tomorrow is expected to show a fall. LME Copper rose recovering from the previous week losses. Striking workers in the world’s largest copper mine in Chile are set to hold talks today which will be mediated by the Govt. Earlier today Germany’s GfK Consumer Confidence showed that the levels fell to a ten month low at 5.4 from the previous month’s 5.7.
India’s central bank RBI hiked the interest rates by more than projected fifty basis points to fight persistently high inflation levels.
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