Evening Commodity Updates via Money Control For Today 29th November

European equities are trading on a higher note today on the back of unexpected decline in Euro Zone unemployment rate. Asian markets ended on a mixed note and the US stock futures are trading in the green. German Retail Sales declined by 0.8 percent in October as against a fall of 0.6 percent in September. Nationwide House Price Index (HPI) rose by 0.6 percent in November from earlier gain of 0.1 percent in October. French Consumer Spending slipped by 0.2 percent in last month as compared to fall of 0.1 percent in September. Consumer Price Index (CPI) Flash Estimate gained by 0.9 percent in November with respect to 0.7 percent a month ago. Unemployment Rate unexpectedly dropped around 12.1 percent in October when compared to 12.2 percent in earlier month. UK’s Net Lending to Individuals was at 1.7 billion Pounds in October from 2.2 billion in September. Spot gold prices gained around 0.2 percent taking cues from weakness in the DX along with upbeat market sentiments. However, declining trend in SPDR Gold holdings restricted further gains. In the Indian markets, gold prices rose around 0.2 percent due to Rupee depreciation.

Spot silver prices rose around 0.9 percent today taking cues from gains in gold coupled with weakness in the DX. Additionally, upbeat global market sentiments along with upside in base metals complex will support an upside in the prices. MCX Silver prices traded higher by 0.4 percent owing to Rupee depreciation. Base metals pack traded on a positive note today taking cues from unexpected decline in Euro Zone unemployment rate. Also, weakness in the DX coupled with optimistic market sentiments supported an upside in the prices. However, mixed LME inventories capped sharp gains in the prices In the Indian markets, base metals traded on a positive note due to Rupee depreciation.

Source: MOneyControl.com