Monday, 17 November 2014

Gold and Silver Rates for Today

Spot gold prices traded negative last week on combination of falling crude oil prices and strength in the dollar, however prices rose on short covering at the end of the week. The Commodity Futures Trading Commission (CFTC) Commitments of Traders report in the week to November 11th showed that investors have declined
their net longs positions by 6399 contractsto 38673 contracts, down by 14.2 percent week on week.

Last week, spot silver prices in the international markets traded lower for the entire week in line with fall in gold prices, however recovered strongly at the end of the week on short covering. Silver prices will have significantly corrected in the recent weeks and given an opportunity for bargain hunting at lower levels.
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