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Economic indicators |
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Oil: Oil surged to a six-month high above $66 per barrel on 29th May, recording the largest monthly percentage gain in more than a decade, as US, Indian and Japanese data suggested the easing out of economic downturn. Oil prices have jumped almost 30 per cent in May, the largest monthly rise since March 1999, riding on the expectations of a global economic recovery later this year.
Gold: Gold prices on May 30th surged to a two-week high to trade at Rs 15,000/ ten gram in the bullion market, owing to a firming global trend where the metal rose to a three-month high as weak dollar enhanced its appeal. Sentiment was also bolstered due to pick-up in buying by stockists and jewellery fabricators.
Dollar: On Friday, 29th May, the dollar hit a five-month low against a host of major currencies as the euro rose above $1.41 for the first time this year as investors bought higher-yielding currencies and assets, driving on hopes of a global economic recovery.
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