Gold prices tumbled below $1600 to a new low for the month on dollar-strength and weaker than expected maco data. Gold/Silver ratio, which measures the number of silver ounces needed to buy an ounce of gold has risen above 57 last week. Barclays Research said that gold/silver ratio is set to widen further on weakness in silver prices.
Barclays pointed out that macro-economic environment remains bullish for gold but market fears about the Euro area’s problems may keep Euro depressed against the dollar.
Services and Insurance Sectors Push DFM Index Higher
The DFM General Index inched up to reach at 2,323.34 points on Wednesday 22nd May 2013.The index spending most of the session in the green zone added 3.99 points or 0.17 percent.
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Key Sectors Turn QE Index Green
The QE Index continued pacing its way higher throughout the day to close its trading in the green territory at 9,085.9 on Wednesday 22nd May 2013, achieving 0.54 percent or 48.95 points for the sessi
ADX Index Dips but Volume Improves
The ADX General Index spending most of the session below the break – even line closed in the red at 3,503.38 points on Wednesday 22nd May 2013. The index trimmed 6.26 points or 0.18 percent for the e
Bonds seen consolidating after recent rally; lack of OMO hurts
Government bonds fell for a second consecutive session on Wednesday, continuing to retreat from a recent rally as the Reserve Bank of India has yet to announce bond purchases that had been widely exp