By Shashank Mishra
NEW DELHI: Commodity prices have been crushed by economic slowdown but gold is still sitting pretty. On Monday it rose to a 2-month high of $920 per ounce as investors flocked to the age-old safe haven amidst turmoil in US and European financial markets.
The rejection by US law makers of a $700 billion [...]
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The global credit crisis has had its share of impact on the commodities sector both in India and globally which was not the case in the first half of 2008 when the sector seemed to be insulated from the crisis.
There were major corrections in commodities prices, including precious and base metals and crude oil on [...]
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Gold gave a gap up opening in the morning but tumbled gradually as crude oil remained weak. Gold’s other main external driver, crude oil, fell more than $4 to below $100 a barrel as Hurricane Ike spared most Gulf of Mexico oil infrastructure.Dealers are awaiting the Fed’s interest rates decision due on Tuesday for clues [...]
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