Friday, 30 January 2015

Gold and Silver News Update in Commodity Market

Spot gold prices declined by more than 2 percent on Thursday to close at $1256.5/oz after the Federal Reserve signaled it was still on track to lift U.S. interest rates this year.

On the MCX, gold prices declined by 1.22 percent and closed at Rs.27419/10 gms.

Spot silver prices declined heavily by around 6 percent on Thursday to close at $16.9/oz. The fall in gold prices is exerting downside pressure on silver prices. Strength in the dollar and weak base metals pack further dragged prices.

On the MCX, silver prices declined by around 5.5 percent and closed at Rs.37286/kg.
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