Thursday, 29 January 2015

Gold and Silver News Update in Commodity Market

Gold
Spot gold prices declined on Wednesday by 0.6 percent to close at $1284.4/oz after the Federal Reserve said it will remain "patient" with regard to any interest rate increase decisions.

On the MCX, gold prices declined by 0.51 percent on Wednesday and closed at Rs.27759/10 gms.

Silver
Spot silver prices also declined on Wednesday to close at $18, down by 0.4 percent. The fall is in tandem with gold prices as Federal Reserve maintained its patience stance on interest rates. Strength in the dollar index also exerted downside pressure. 

On the MCX, silver prices declined by 0.15 percent and closed at Rs.39472/kg.

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