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Capital Drilling Plc

Gold up on weak oil prices

India Gold June futures rose sharply on April 21 tracking positive momentum seen in the international spot prices on the strong dollar while the plunge in the US crude oil prices increased bullion’s safe-haven appeal.

On the Multi Commodity Exchange (MCX), June gold contracts were trading higher by 0.54 percent at Rs 45,963 per 10 gram at 09:20 hours. Silver futures were up 0.32 percent to Rs 42,873 per kg.

An unprecedented move in WTI Crude oil on Monday in the US pushed both the precious metals up. WTI April contract slipped to negative for the first time in the history of the commodities futures market.

Capital Drilling Ltd (LON:CAPD) provide complete exploration and production drilling solutions to customers within the global minerals industry, with a focus on the African markets.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.