Saudi pumps record 10mbpd crude oil in November, OPEC meeting looms
Updated 12:05:00 IST 13 Dec 2011
Saudi Arabia has pumped an amazing 10 million barrels of crude oil per day in November at a time when countries like Iran and Venezuela are calling for reduced output in order to keep oil prices above $100/barrel
Investment demand for Gold Bars has risen in India and this is despite jewelry sales appearing subdued given the high price of the precious metal and the separate making charges involved with each piece of jewelry. Investors who had purchased Gold Bars two months ago are dipping into their savings yet again and purchasing bars and coins, said traders.
For the coming week in non ferrous complex copper may remain buoyant as rising cancelled warrants and expectation of higher imports in December due to good arbitrage opportunity may lend support to red metal which may test levels of Rs.420/kg.
Turmeric futures expected to extend downtrend on Tuesday due to higher stocks from the fresh crop, weak export demand and on expectations of higher production in the next year.
source- commodityonline.com
