Precious Metal Market Outlook : 11.11.2013
The London Metal Exchange, the world’s biggest industrial-metals marketplace, changed its rules to speed up withdrawals from warehoused stockpiles amid consumer complaints that prompted scrutiny from U.S. regulators.
Copper analysts are the most bullish in eight months, joining hedge funds betting prices will gain on stronger demand from China, the biggest buyer.
Gold advanced to trim a second weekly decline as investors weigh the outlook for stimulus in the U.S. after economic growth accelerated last quarter while data today may show employers added fewer workers last month.
Bullion for immediate delivery rose as much as 0.3 percent to $1,311.13 an ounce and was at $1,310.18 by 2:20 p.m. in Singapore. Prices fell to $1,296.13 yesterday, the lowest since Oct. 17, and are set to decline 0.5 percent this week. Gold for December delivery was little changed at $1,310.30 on the Comex.
Silver for immediate delivery rose 0.4 percent to $21.7475 an ounce, trimming this week’s decline to 0.6 percent. Platinum advanced 0.4 percent to $1,459.43 an ounce. Palladium was little changed at $762.20 an ounce, set to climb 2.8 percent this week
The London Metal Exchange, the world’s biggest industrial-metals marketplace, changed its rules to speed up withdrawals from warehoused stockpiles amid consumer complaints that prompted scrutiny from U.S. regulators.
Copper analysts are the most bullish in eight months, joining hedge funds betting prices will gain on stronger demand from China, the biggest buyer.
Gold advanced to trim a second weekly decline as investors weigh the outlook for stimulus in the U.S. after economic growth accelerated last quarter while data today may show employers added fewer workers last month.
Bullion for immediate delivery rose as much as 0.3 percent to $1,311.13 an ounce and was at $1,310.18 by 2:20 p.m. in Singapore. Prices fell to $1,296.13 yesterday, the lowest since Oct. 17, and are set to decline 0.5 percent this week. Gold for December delivery was little changed at $1,310.30 on the Comex.
Silver for immediate delivery rose 0.4 percent to $21.7475 an ounce, trimming this week’s decline to 0.6 percent. Platinum advanced 0.4 percent to $1,459.43 an ounce. Palladium was little changed at $762.20 an ounce, set to climb 2.8 percent this week
