Gold persist strength
Gold rebounded above $1200 per ounce levels in Asia after correcting in last session. Gold futures slipped Friday amid a pair of U.S. economic reports. Earlier this week, gold touched its highest since November, rising near $1210. Investors have grown cautious this week amid political uncertainties in the U.S. and speculation that the rally in stocks has petered out. U.S. retail sales were up 0.6 percent in December. Spot Gold up 0.61% at 1203.
MCX GOLD FEB FUT trading at 28518 up 138 points(0.49%)
MCX Silver March FUT trading at 41168 up 281 points (1.33%)
OPEC doubt weigh on Crude Oil.
Crude oil futures fell Friday, posting a weekly decline amid lingering doubts that OPEC will curb supplies. While Saudi Arabia implemented quotas, Libya and Iraq are among the OPEC members that are reportedly resisting the output reductions. Prices were down 3 percent for the biggest weekly decline in two months. The Energy Information Administration reported a build of 4.1 million barrels in crude oil inventories for the week to January 6, a day after the American Petroleum Institute had estimated inventories were 1.5 million barrels higher in the period.
MCX Crude Jan FUT Trading at 3586 down 10 points (-0.01%)