In the global market gold make a very consolidate position,
this year gold climb day by day. India again retained their number 1 position
in the gold consumption. Finance minister and the RBI say that the gold position
creates a pressure on the country economy. High importation of gold from any
country disturbs the economic position. The global output of has been around
4,000 tons per year. But India’s domestic consumption of gold has more than
doubled to 1,000 tons annually since 1999, in spite of the fact that the white
metal prices have been steadily rising.
In the global crude Europe account for 16% of world crude oil
consumption which is almost half of the US and CHINA consumption together. On
the India MCX crude oil for December delivery has climbed up by 0.39% in the
previous close
.
My personal opinion about bullion it that is goes more higher
till the December and hold a good position in the market , Market is in good
position to trade for commodities let’s see how far bullions breaks its previous
records.
Seed Newsvine
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