Silver on 11-month high, lifting gold, platinum
The Dollar Business Bureau Silver shot up to its highest in 11 months on Wednesday, leading gold for a gain in the second session and taking platinum to a new 6-month high. The white metal rallied due to a weaker dollar with a positive trend seen in the Chinese economy. Currently, silver has been on an upswing. It increased 22% this year, making it one of the lucrative investments of 2016. The increase has outshone gold with a gain of 18% this year. Spot silver jumped to $17.21 per ounce, the highest since May 2015, subsequent to a 4.4% rise on Tuesday. Platinum, after rallying about 4% in the previous session, reached a 6-month high of $1,019.90. Palladium reached $588.05, a new high ...
Indian Metal and Mining industry can survive a China slowdown
The Dollar Business Bureau India’s metal prices depend substantially on Chinese economic activity as China accounts for 40%-50% of the global consumption of aluminium, copper and zinc metals. For China, the latest leading economic indicators are not encouraging with a weak output and low order growth rates as real estate construction activity is unlikely to recover in the short-term. Against this back-drop, Indian industry can sustain realisations and operating profits driven by a steady physical premium, said an industry report. Physical premiums on non-ferrous metals over broad market prices such as London Metal Exchange are likely to remain steady given the oligopolistic nature of the non-ferrous metals market in India. The report said that it does not expect the ...
