Gold advanced to a 1-week high while silver jumped the most since January, on speculation that central bankers in major economies will take more steps to bolster their economies, boosting safe haven demand for the metals.
Gold holdings of SPDR gold trust, the largest ETF backed by the precious metal, declined to 1,200.37 tons, as on April 9.
Silver holdings of ishares silver trust, the largest ETF backed by the metal, declined to 10,497.59 tons, as on April 5.
The ICE dollar index, which measures the greenback against a basket of six major rivals,fell to 82.325 from 82.752 on late Monday.
Japan's central bank unveiled a $1.4 trillion stimulus plan last week, prompting speculation that cash will spill over into other regions in search of higher bond yields and not in assets denominated in the rapidly depreciating Japanese yen.
Copper hit its highest since late March while other metals too were up after the Chinese inflation data, which underpinned a steady but modest seasonal recovery in metals demand.
Copper futures for May delivery closed up by 2.1% at $3.4415 on the COMEX division of the NYMEX.
Crude oil futures recovered from early losses to top $94 per barrel, as Iran fed worries about global supplies, outweighing pressure from high US inventory levels ahead of weekly supply report.
Expected inventories: Crude oil +1.2mn barrels, Gasoline -1mn barrels & Distillate -1.2mn barrels.
Crude oil inventories gained 5.1mn barrels,gasoline supplies rose 1.96mn barrels while distillate inventories, a category that includes heating oil and diesel, slid 1.3mn barrels, as per API report.
Natural gas futures declined for the for second straight session, as investors took profits amid mild weather forecasts for the eastern half of the nation, but concerns about below-average inventory levels limited major downside.
Gold holdings of SPDR gold trust, the largest ETF backed by the precious metal, declined to 1,200.37 tons, as on April 9.
Silver holdings of ishares silver trust, the largest ETF backed by the metal, declined to 10,497.59 tons, as on April 5.
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The dollar pulled back against the Japanese currency & other rivals while the greenback is likely to hit the psychologically important 100-yen level on the wake of Japan’s aggressive monetary-stimulus efforts.
The ICE dollar index, which measures the greenback against a basket of six major rivals,fell to 82.325 from 82.752 on late Monday.
Japan's central bank unveiled a $1.4 trillion stimulus plan last week, prompting speculation that cash will spill over into other regions in search of higher bond yields and not in assets denominated in the rapidly depreciating Japanese yen.
Copper hit its highest since late March while other metals too were up after the Chinese inflation data, which underpinned a steady but modest seasonal recovery in metals demand.
Copper futures for May delivery closed up by 2.1% at $3.4415 on the COMEX division of the NYMEX.
Crude oil futures recovered from early losses to top $94 per barrel, as Iran fed worries about global supplies, outweighing pressure from high US inventory levels ahead of weekly supply report.
Expected inventories: Crude oil +1.2mn barrels, Gasoline -1mn barrels & Distillate -1.2mn barrels.
Crude oil inventories gained 5.1mn barrels,gasoline supplies rose 1.96mn barrels while distillate inventories, a category that includes heating oil and diesel, slid 1.3mn barrels, as per API report.
Natural gas futures declined for the for second straight session, as investors took profits amid mild weather forecasts for the eastern half of the nation, but concerns about below-average inventory levels limited major downside.