Date: 30.01.2012
Goldennifty said: MCX Gold climbed for a third straight day as confidence among U.S. consumers rose in January and a weaker dollar increased demand for alternative investments.
The dollar declined as much as 0.6 percent against a basket of six currencies. Before today, MCX Gold prices jumped 4 percent this week, while the dollar retreated 1 percent.
MCX Gold futures for April delivery gained 0.2 percent to $1,732.60 an ounce at 11:57 a.m. on the Comex in New York. Prices are heading for the fourth straight weekly advance.
MCX Silver futures for March delivery slipped 0.1 percent to $33.705 an ounce on the Comex. A close at that price would be the first loss in three days.
MCX Copper declined for a second day on concerns that demand in China, the world's largest consumer, may weaken after recent price gains.MCX Zinc, MCX Nickel and MCX Aluminum also dropped.
Three-month delivery MCX Copper fell as much as 1.2 percent to $8,420.50 a metric ton on the London Metal Exchange, and traded at $8,458 by 12:47 p.m. Shanghai time. The contract gained 3.7 percent last week when share market tips were closed in China for holidays.
The base metal tips for delivery in April on the Futures Exchange advanced 0.4 percent to 60,960 yuan ($9,649) per ton.
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