MCX Bullion News Update

Gold prices -Gold rose on Monday as investors sought safety in the metal following Friday's deadly attacks in Paris and a risk-off sentiment that sent U.S. stock futures lower. At a G20 summit in Turkey, U.S. President Barack Obama vowed to step up efforts to eliminate Islamic State and prevent it carrying out attacks like those in Paris. EU leaders urged Russia to focus its military efforts on the radical Islamists. The time to hike U.S. interest rates is "quickly approaching" and the Fed should not delay for fear of an adverse market reaction or uncertainty over long-run economic trends, a Fed policymaker said on Friday. 

MCX Copper Tips -LME copper opened at USD 4,823/mt last Friday and dived to USD 4,787.5/mt before ending at USD 4,809.5/mt, down USD 31.5/mt or 0.65%. Eurozone CPI also lacks ability to rise, with CCI also down further from a peak hit this March. In this scenario, European Central Bank is expected to ramp up quantitative easing later this year, weighing on the euro and bolstering the US dollar. This will weigh on base metals prices. ISIS claimed responsibility for the attack in Paris November 13. Regional conflicts will help crude oil prices stop falling. Strategic goods such as copper will be inflated in the near term.

Crude oil prices -Crude oil futures rose on Monday as France launched large-scale air strikes against Islamic State operations in Syria, but analysts said oil and other commodities were expected to remain under pressure as oversupply weighs on prices. Crude benchmarks, which lost 8 percent last week, saw high levels of activity as commodity traders looked for direction after the deadly attacks in Paris on Friday. Surprisingly, U.S. drillers are putting rigs back to work in the oil fields after more than two months," ANZ bank said on Monday, citing the addition of two rigs to Baker Hughes' U.S. oil rig count.