04:41
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CRUDE OIL
Oil dropped on speculation Europe’s debt woes would curb energy demand after manufacturing in the continent contracted as global policy makers discuss the region’s crisis. West Texas Intermediate futures fell, giving up earlier gains of as much as 1.1 percent.
GOLD
Gold rose in New York on speculation that policy makers will take measures to stimulate economic growth as finance ministers and central bank governors from the Group of Seven nations plan to discuss Europe’s debt crisis.
SILVER
Supported by a rise in demand at the spot market, silver prices rose Rs 252 to Rs 54,091 per kg at the futures trade today. At the Multi Commodity Exchange, silver for delivery in July rose Rs 252 or 0.47 per cent to Rs 54,091 per kg with a business turnover of 6,463 lots. Similarly, the metal for delivery in September traded higher by Rs 251 or 0.45 per cent to Rs 55,515 per kg in 221 lots.
COPPER
Conditions were thin and choppy with the London Metal Exchange (LME) closed for the Diamond Jubilee holiday on Monday and Tuesday. New York copper prices initially tracked overseas weakness in Shanghai with both markets sinking to their lowest levels since October on follow-through liquidation from Friday's surprisingly soft jobs data in the United States. COMEX copper for July delivery fell 0.65 cent to settle at $3.3070 per lb, failing to sustain an earlier 1-percent rise to $3.3530 per lb.
COMEX copper volumes were relatively healthy with more than 76,000 lots traded in late New York business.
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