KEDIA DAILY REPORT AS ON 02022010

Kedia Stocks and Commodities

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Gold ended around two percent higher posting their biggest daily gain in three months, as a combination of oil rally, dollar weakness and strong U.S. data boosted bullion's investment appeal. Silver rose with gold and equities. Support for the markets was coming from increased risk appetite following stronger-than-expected ISM manufacturing data.

 

Crude oil surged as manufacturing in the U.S. increased at the fastest pace since August 2004, signaling that fuel use in the world’s biggest energy-consuming country will gain. Natural gas ended higher as bitterly cold temperatures gripped the Northeast, sparking substantial demand for the fuel to heat homes and businesses.

 
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