Thursday, 17 July 2014

Mcx Gold and Silver Market Updates

After two consecutive days of sharp declines, Gold rebounded on Wednesday as sharp declines gave an opportunity for bargain buying supporting prices. However, strong U.S. economic outlook and fears that the Federal Reserve could raise U.S. interest rates limited gains for the safe haven. U.S. manufacturing output rose at its fastest pace in more than two years in the second quarter, suggesting the economy was regaining enough momentum to lift growth throughout the year.

Spot silver prices rose by 0.1 percent taking cues from strength in gold prices .However, strength in the dollar index and weakness in the base metals complex capped the rally. 

On the MCX, silver prices declined by 0.6 percent and closed at Rs.44577/kg in contrary to the gains in international markets.
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