Precious metals extended the loss on Friday on Comex as dollar strengthened sharply against Euro after the comment from ECB president gave a hint they might cut interest rate by quarter basis points led to correction in precious metals.
The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, said holdings fell to 1,105.98 tonnes as of April 17, down 13.45 tonnes or 1.2 percent from the previous day. It was the biggest one-day decline since Oct. 3.
The dollar neared a one-month high against the euro with the single currency under selling pressure due to uncertainty over what policy steps the European Central Bank will take next.
Nirmal Bang Research is bullish on Deccan Chronicle Holdings Ltd (DCHL) and maintained ‘Buy’ rating on the stock to achieve a target of Rs 69 within 1-5 days.
U. S. crude oil futures for May delivery edged lower by 18 cents to $50.15. The contract settled 35 cents higher at $50.33 on Friday, buoyed by news of a rebound in U. S. consumer confidence and better-than-expected quarterly earnings Natural Gas prices shot up to $3.729 from $3.599 this sharp rally was attributed to short covering ahead of expiry.
Base metals extended their gains on LME and Comex due to drop in inventories, increased optimism in financial markets and expectation of further Chinese buying. Three-month copper on the London Metal Exchange fell to $4731 per tone down by $72 after closing up $74 on Friday.
In its latest research report, Nirmal Bang, an equity research firm said that ICICI Bank, which presently stuck in a band of 405-445, can give good returns within 4-5 trading session.
Asian stocks declined, dragging the regional benchmark index from a three?
