Monday, 19 January 2015

Commodity Market Gold and Silver Updates

Spot gold prices traded higher last week the metal after Switzerland's central bank unexpectedly abandoned its three-year cap on the franc sent global shares and bond yields into turmoil.

spot gold prices rose by 4.7 percent last week and closed at $1279.8/oz. On the MCX, gold prices gained by 3.2 percent last week and closed at Rs.27654/10 gms.

Last week, spot silver prices rose in tandem with rising gold prices. Increasing speculative activity and bargain buying at lower levels supported the rise.

MCX, silver prices rose by 6 percent and closed at Rs.39061/kg
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