SPOT GOLD FIRMED ON WEDNESDAY...

[RaahiShah]

Oil rebounded from the lowest close in more than a week on speculation declines may have been excessive amid shrinking stockpiles in the U.S., the world’s biggest crude consumer. Copper edged up on Short-covering on Wednesday as investors closed positions and stuck to short-term trading strategies ahead of this week’s China GDP data, which may shed more light on the health of the world’s second largest economy. Festering worries over the global economy are also keeping market participants cautious.

Spot gold firmed on Wednesday, after posting its biggest one-day decline since late June as a meeting of euro zone finance ministers disappointed some investors looking for more progress on resolving the Region’s debt crisis. Hotter summer weather supports natural-gas prices by forcing utilities to burn more of the fuel to meet higher demand from air conditioners. Private weather forecasters previously predicted warmer temperatures coming to much of the Northeast and Midwest next week, but their projections released Tuesday for the following week delivered a mixed message.

TODAYS MAIN EVENTS : - GERMAN FINAL CPI m/m,GERMAN 10-Y BOND AUCTION,TRADE BALANCE,CRUDE OIL INVENTORIES,10-Y BOND AUCTION USD,FOMC MEETING MINUTES

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