Commodity Market Updates:
Gold skyrocketed more than $60 an ounce at session highs on Thursday, surging to its highest level in more than a year, as sharp declines in European banking stocks sent tremors through global markets pushing investors to seek shelter in the safe-haven asset.
London copper firmed on Friday but was still facing its biggest weekly drop in a month as a holiday in top consumer China eroded buying support and fears of another wave of bank defaults fuelled jitters over the global economy.
U.S. oil prices crashed below the $27-level to flirt with 13-year lows in North America trade on Thursday, as investors shunned risk amid anxiety over slowing global growth and tighter credit markets.
Commodity Call for Today
Buy MCX Silver March above 37975 for Target of 38475 and 38975, Stop loss at 37475.