Wednesday, 20 May 2015

Daily Updates On Gold and Silver

Gold's five-day rally ran out of steam on Tuesday as the dollar extended gains on strong U.S. data, while global shares rose on the European Central Bank's suggestion it may speed up bond buying.

We expect gold prices are likely to trade negative on the back of better than expected economic data from the US.

Silver dropped 3.4 percent to $17.07 an ounce. U.S. housing starts jumped to their highest level in nearly 7-1/2 years in April and permits soared, offering a glimmer of hope for an economy that is struggling to regain strong momentum after a dismal first quarter.

We expect silver prices are likely to trade negative on the back of better than expected economic data from the US.

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