Friday, 13 February 2015

News and Research on Gold and Silver

Bullion remained highly volatile last week though on Friday the highly positive US Jobs data weighed the two commodities lower. Non-Farm payrolls addition stood at 257,000 for Jan against markets forecast for 225-230K addition.

Gold MCX contract for April expiry too moved in a zig-zag manner while as of last count stood at Rs 26520 per 10 Gms, lower by 0.5% and likely that a gap-up opening would be there today for the commodity.

We saw a lot of whipsaws in Silver commodity as well during the past week though the major sentiment negative was the better Jobs report from the US economy.

Silver MCX same months expiry closed lower by 0.45% to Rs 37225 and modest positive opening can be seen.

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