Commodities consolidate after the plunge


GOLD prices plunged to 1532.59 early last week before recoiling up more than US$140 amid weaker greenback. Transient market optimism on Eurozone debt crisis situation pushed the gold prices higher to 1676.93 regions.

The demand for gold will remain strong this month, especially supported by the demand for physical gold from India as the Deepavali festival is just around the corner, at the end of October.

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