Brent Crude Prices fell on worries that demand will wane - ZENMoney

Brent Crude Prices fell due to worries that demand will wane once geopolitical risks subside along with profit booking on a three-week rally and after a forecast for high global supplies of crude. Brent's strength has been underpinned by unrest in Egypt and fears that a conflict there could spread elsewhere in the Middle East.Aweaker US dollar along with a speech by US Fed Reserve Chairman along with a rally in US market supported the brent at lower levels.

Gold prices rose as investors flocked to the bullion market as a hedge after U.S. Federal Reserve Chairman Ben Bernanke reasserted that monetary stimulus will stay for some time coupled with a weaker dollar against basket of currencies. The renewed off-take by stockists and traders amidst positive cues from overseas markets supported the yellow metal price rise at domestic market.

Silver Prices rose due to a rebound in Euro in the wake of comments made by Federal Reserve Chairman Ben Bernanke and as traders scaled back expectations that the Federal Reserve will slow its asset purchases in coming months coupled with US economic data. The hectic speculative buying coupled with good industrial demand at domestic market supported the White metal further.

Base metals prices rose as signals from the Federal Reserve said that it may maintain its economic stimulus longer than previously expected revived the appetite for riskier assets. A fall in US dollar against basket of currencies supported the base metal rise further.

Source : Equity Bulls

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