Tuesday, 16 December 2014

Gold and Silver Market Review for Today

Bullion sector at the global market declined heavily yesterday with the appreciation in the USD and cautiousness ahead of the US Fed meeting later during the week also pushing the commodity lower.

Gold Comex Feb expiry contract fell around 1.2% yesterday to $1207 per ounce whereas locally, Rupee depreciation and heavy inflows in terms of imports aided some support to MCX Gold which added 0.4% to Rs 27320. 

Silver too fell heavily yesterday closing lower by around 3% to $16.55 per ounce at Comex whereas Spot markets saw a further extended fall in late night session in the US and the same is getting reflected in early morning trade in Comex today morning as Silver loses over 2.5%.

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