Gold Prices fell on Ben Bernanke's dovish comments - ZENMoney

Brent Crude Prices rose over concerns that oil supplies may have some trouble making it through the Suez Canal, which is controlled by Egypt, despite of an announcement from Egypt that political tension there is not a threat to supply lines in the country. Apositive close in the global markets supported the rise further. The prospect of more supply from non-OPEC producers and concerns about China's demand growth capped gains.

Gold prices fell after investors locked in gains stemming from Federal Reserve Chairman Ben Bernanke's dovish comments made earlier this week and sold the commodity for profits. Soft economic indicators released in the US and Europe also contributed to gold's decline by strengthening the dollar.Atrade ministry official in India said on Friday that it was too early to say whether the decline in gold imports can continue.

Silver Prices fell due to a weakening Euro against dollar after Fitch cut France's credit rating to AA-plus from AAA on the country's uncertain economic outlook amid the ongoing euro zone crisis and the need for structural reform along with a rise in Portuguese bond yields.

Base metals prices fell due to a firmer dollar and as traders cut risk ahead of Chinese data next week. The Metals fell on concerns about demand for commodities in China resurfaced after dismal trade numbers this week and ahead of gross domestic product (GDP) data on Monday.

Source : Equity Bulls

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