ROCKING RALLY IN PRECIOUS METAL-
International gold futures broke the $1600 mark while the domestic silver futures on MCX breached the crucial Rs. 60k mark. The latest rally in silver, gold and other commodities can be ascribed to the sharp pull in the US dollar against the single currency. The Euro has appreciated by more than 1% against the greenback in less than a week's time and hence has been boosting the entire dollar denominated commodities.
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LME INVENNTORY DATA FOR 18TH JULY 2011
| LME Inventories Data | |||
| (in tons) | 18-Jul | Change | 15-Jul |
| Aluminum | 4404225 | -7950 | 4412175 |
| Copper | 462950 | 925 | 462025 |
| Nickel | 102354 | -840 | 103194 |
| Lead | 307525 | -325 | 307850 |
| Zinc | 887300 | -4050 | 891350 |
| Tin | 21350 | 45 | 21305 |
