Commodities
Gold quiet, silver firmer
GOLD tracked sideways to slightly higher in quiet trading last week, but not before breaking through $290 per ounce and the 100-day moving average to peak at $292.65/oz. The yellow metal ended the week in London at the official price of $288.15/oz, a gai n of 0.8 per cent week-on-week.

Impact
Copper: Range-bound in the near-term
AT the current price levels of $1,773, the prices of copper at the London Metal Exchange have remained locked in a narrow range of $1,700-1,850 in the first two quarters of 2000. After staging a sharp recovery from the 11-year low of $1,350 touched in March 1999, the copper prices have stagnated in this band. Even the three-month forwards at $1,790 and 15-month forwards at $1,773 indicate that the current sideways price movement may continue in the near-term.

PSU
NALCO refinery expansion commissioned
THE Rs 3,700-crore expansion programme of the public sector aluminum major, National Aluminium Company Ltd. (NALCO), has gone on stream, with the commissioning of its first phase in its mining and alumina refining segment at Damanjodi by Mr. Dipak Chatte rjee, Secretary, Ministry of Mines.

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