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GOLD
Gold prices rising to five week high of Rs 28,090 per 10 grams was the feature of trading on the bullion market during the past week driven by hike in import duty and firming global trend, while a fag-end selling minimized the gains. Trading sentiment bolstered as government decided to increase import duty on gold from 6% to 8% to curb a record current- account deficit at a time when the World Gold Council predicts record quarterly demand for the metal in India.
SILVER
MCX silver future on last trading sitting closed at 43835 in consolidation. On daily live chart MCX silver future trend and drive both consolidate. Silver on weekly chart showing flat closing in this week. This week MCX silver future made high at 44499 and low was 42682. On weekly chart MCX Silver future trend and momentum consolidated. In Comex Market, Silver almost broke the 22.00 level at the close of the week, ending just a few pips below as traders took advantage of the weak US dollar to grab up the commodity. Silver traded in a very tight range for the week between 21.818 and 21.998.
NATURAL GAS
Overall natural gas consumption in the United States decreased by 3.3%, driven by a 4.5% decline in the power sector. Although power sector natural gas consumption increased across most of the country, this was offset by small declines in the Southeast and Midwest, and by a large decline in the Northeast. Natural gas consumed for electric generation in the Northeast decreased by 24.5% week-over-week because of cooler, more seasonal current week temperatures than the previous week.
CRUDE
Crude Oil closed the week on a high note at 97.79 gaining over $1.50 this week. Oil prices rallied to a 9 month highs on Friday after the United States had authorized sending U.S. weapons to Syrian The rally was inspired by rising geopolitical tensions in Syria after sources suggested that the U.S. may seek to supply arms to the opposition forces in that country. U.S. crude also garnered some strength from data this week that showed stronger-than-expected retail sales and a fall in weekly jobless claims.
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