Friday, 23 January 2015

Commodity Market Gold and Silver Updates

Spot gold prices rose by 0.63 percent on Thursday and touched a five month high above $1300/oz after the European Central Bank (ECB) launched a multi-billion euro bond-buying program aimed at reviving a sagging euro zone economy.

On the MCX, gold prices rose by 0.21 percent and closed at Rs.28036/10 gms.

Spot silver prices rose by 1 percent on Thursday to close at $18.3/oz. The rise in silver prices is in tandem with gains in gold. Strength in the dollar index and weak base metals complex however capped the rally. On the MCX, silver prices rose by 0.39 percent and closed at Rs.40079/kg.
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