Monday, 12 January 2015

Gold and Silver Related News for Today

Spot gold prices traded higher last week the metal was set for the first weekly gain in four weeks as political uncertainty in Greece boosted demand for assets seen as safe. Slumping global equities at the start of last week coupled with physical buying from top consumer China picked up ahead of the Lunar New Year supported prices.

In the international markets, spot gold prices rose by 2.86 percent and closed at $1222.65/oz. On the MCX, gold prices gained marginally by 0.26 percent on account of strong appreciation in rupee and closed at Rs.26800/10 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. However, strength in Nickel prices also acted as a positive factor.

Spot silver prices in the international markets gained by 4.83 percent and closed at $16.49/oz. On the MCX, silver prices rose by 1.65 percent and closed at Rs.36833/kg as stronger rupee capped the rally.
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