Slight Drop in Crude oil, Gold and Silver Prices

On first day of a new week, different phases of market was seen. Crude oil prices dropped today. Signals of strengthen Dollar and increase in supply of crude made the prices of crude to fall down. A slight increased prices were seen in Gold in correspondence with last week prices. However Silver is down today also.

Drop in crude is seen after steady dollar and getting to supply record level of 5 years of crude. In international market, Brent Crude dropped 14 cents and is trading on 48.58 dollar per barrel. MCX crude oil dropped 0.85% and is trading on Rs 3,254 per barrel. On the other hand, prices of gold uplifted slightly however prices are below the level of last 3 weeks prices. Federal Reserve likely to increase rates in June as a result of which Gold prices recovered. In international market price of gold is 1,252 dollar per barrel while in MCX it is trading on 29,677 per 10 grams. Silver prices dropped 300 Rs and currently trading on 39,533 per Kg. According to the experts, prices of these commodities can increase in coming future.