Commodity Online – Gold prices had an excellent run last week, led by the extensive fall in the US dollar and strong rally in the equity markets. The rise in crude oil prices also resulted in lifting bullion.

The US currency showcased the biggest decline in a month against euro last week as US data showed that the world’s largest economy contracted lesser than forecasts, which hinted that the recession is fading and gave rise to investor demand in riskier counters such as commodities and equities.

The outlook is bright – the most active benchmark contract at the Comex has pulled off a strong recovery, ending at $953.70 near the resistance at $960, a break and close of which will take prices towards new highs of $966.70/oz and $970.40/oz, state traders.

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Tags: bullion, comex, commodities, commodity, crude oil prices, decline, economy, gold prices, investor-demand, new-highs, oz, rally, recession, resistance, us currency

Daily News and Analysis – With the last of the deadlines for hedge funds investors to file their redemption requests approaching, experts feel most of them may be done with their selling.

The Sensex has lost 1,761 points in the last 7 sessions as foreign investors unloaded equities worth over Rs 2,000 crore.

This is in sharp contrast to the first week of November, when they were net buyers for Rs 790 crore.

The renewed selling is seen as an effort by hedge funds to shore up their cash levels to meet the new wave of redemption requests around the November 15 deadline, analysts said.

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Tags: comex, daily-telegraph, extreme-volatility, fas-157, maged