The precious metals a very important role for the decrement of the economic rate of China. It’s import were down by 25% to 195.98 tonnes and export rose by 44% to 109.9 tonnes. Similarly the platinum import down by 6% this year and palladium import rose by 24%. Indian market closed today. Yesterday the metals worked in a very worst condition. Silver closed at 42814 down by 873 points and gold closed at 26164 dropped by199 points.
The base metals for future delivery showed both the sign green and red. Some has gone higher and some lower. So, a mixed reaction occure in the commodities.
Due to Indonesia’s export restriction a sharp fall has been seen from the mid 2012. China’s bauxite imports fell by 12 percent since March and the more volatile metal Aluminia fell by 55 percent. In the global trading the crude oil price rose above $100 per barrel today.
Crude oil for June delivery also on NYMEX was also up 0.56% at $89.67 per barrel. The American Petroleum Institute reported that the last week US crude declined 845000 barrels.
FUTURE TRADING TIPS
SELL : GOLD, SILVER
BUY : CRUDE OIL, ALUMINUM
