Purchasing positions for the yellow metal, according to the report of the CFTC or the Commodity and Futures Trading Authority, known for short as COT, which is issued at the end of each week, showed a decline for the second week in a row by 20 thousand contracts in the positions of major speculators and purchasing hedge funds.

Meanwhile, a government source from India stated that imports of the second largest consumer of bullion in the world rose in September by 658%, coinciding with the approaching festive season. The source, who preferred not to be named, indicated that India imported about 91 tons of gold in September.

We recall that the yellow metal ended September’s trading with a decline of about 3.5% by the end of last week, Friday, the last session of September.

The metals markets are awaiting by the end of trading this week (Friday) the US labor market data, which will definitively confirm the US Federal Reserve’s announcement to reduce its bond purchases at the third meeting of next November, and therefore the metals markets are expected to move strongly.

On the other hand, silver is trading at levels of $22.33 per ounce, down by 0.84%, after declines of more than 7% in September.

Platinum, in turn, is trading down by about 2.15% in the opening session of the week at levels of $951, while palladium is losing about 0.68% when trading at levels of $1.905.