Precious metals ended the week in red after scoring robust gains last week, mainly pressured by renewed worries over the credit markets, a sharp fall in the US stock markets and a strengthening US dollar. For the week, October ?07 delivery gold futures contract on DGCX ended lower by $2.50/troy oz while silver prices witnessed a sharp retreat of 30 cents/troy oz or 2.28%. In the currency markets, the US dollar added gains against major currencies. During the week, the Exchange recorded a total volume of 15,426 contracts valued at $624.96 million (based on closing prices) in the futures segment.
Following strong gains last week, DGCX October 2007 delivery gold futures contract opened on Monday at $677.90/troy oz ? showing a large downward gap of $2.10 from its weekend close. Prices subsequently soared to an intraweek high of $681.50 before retreating sharply to a weekly low of $663. However, the contract recovered towards the close and settled for the week at $677.50 - logging in a loss of $2.50/troy oz or 0.37%. The DGCX Sept?07 maturity silver contract witnessed a huge setback of 30 cents/troy oz or 2.28% thereby concluding the week at $12.86/troy oz.
In the currency market, the DGCX Sept?07 maturity Euro contract started trading on Monday at $1.3840/Euro and inched to a weekly high of $1.3851 before plummeting to a low of $1.3669. The contract depreciated by 0.83% over last week?s close and settled at 1.3717/Euro. DGCX GBP contract dated Sept?07 opened at $2.0426/GBP and slumped to a low of $2.0146 before settling for the week at $2.0204/GBP ? marking a substantial loss of 1.15%. DGCX Yen futures contract maturing in September churned in a loss of 0.16% and settled at an exchange rate of $0.8491 for 100 yen. DGCX Indian Rupee futures for August edged lower by 0.69% and concluded the week at $2.4604 for 100 rupees. Source
Following strong gains last week, DGCX October 2007 delivery gold futures contract opened on Monday at $677.90/troy oz ? showing a large downward gap of $2.10 from its weekend close. Prices subsequently soared to an intraweek high of $681.50 before retreating sharply to a weekly low of $663. However, the contract recovered towards the close and settled for the week at $677.50 - logging in a loss of $2.50/troy oz or 0.37%. The DGCX Sept?07 maturity silver contract witnessed a huge setback of 30 cents/troy oz or 2.28% thereby concluding the week at $12.86/troy oz.
In the currency market, the DGCX Sept?07 maturity Euro contract started trading on Monday at $1.3840/Euro and inched to a weekly high of $1.3851 before plummeting to a low of $1.3669. The contract depreciated by 0.83% over last week?s close and settled at 1.3717/Euro. DGCX GBP contract dated Sept?07 opened at $2.0426/GBP and slumped to a low of $2.0146 before settling for the week at $2.0204/GBP ? marking a substantial loss of 1.15%. DGCX Yen futures contract maturing in September churned in a loss of 0.16% and settled at an exchange rate of $0.8491 for 100 yen. DGCX Indian Rupee futures for August edged lower by 0.69% and concluded the week at $2.4604 for 100 rupees. Source
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