Metal Stocks to Loose

Over the last week the metal stocks have declined by close to 6%. This is due to the bear run in the various metal commodities in the international market. The brokers believe that many hedge funds who invested in commodities are selling and this would continue for a while pulling down the metal prices further down. There is also a speculation of cooling off of the Chinese Economy which was the main consumer pulling the the commodities during the bull run.
On wednesday Hindustan Zinc lost Rs. 15 to Rs. 598.

Gold at 11 week low

Gold prices continue to be hard hit in this week. The latest spot prices is arround $ 578.60 per ounce. This is nearly a fall of over 10% in the week from the high of $640.5 per ounce. Predictions are that it might touch levels of $ 550- $500 if a quick rebound does not take place. The same was the fate of silver which fell to $10.97 per ounce from above $ 12 per ounce a week ago.