Thursday, 18 June 2015

Best & Most Accurate Mcx Commodity Tips in Gold and Silver

Gold
On Wednesday, spot gold prices rose by 0.3 percent to close at $1185.1/oz after the Federal Reserve said the U.S. economy is likely strong enough to support an interest rate increase by the end of 2015, causing the dollar to extend losses.

On the MCX, gold prices declined by 0.28 percent to close at Rs.26880/10 gms. 

Silver
Spot silver prices rose by 0.6 percent on Wednesday to close at $16.1/oz. Weak dollar, strong gold prices acted as a positive factor. 

On the MCX, silver prices rose by 0.08 percent to close at Rs.37400/kg.

Outlook
Weak dollar, probable delay in interest rate hike, growth and optimism in the US economy are contrasting factors surrounding gold prices in the near term. On the other hand, weak investment demand as seen in the outflows from the SPDR gold trust will exert downside pressure on the yellow metal.

On the MCX, gold prices are expected to trade sideways taking cues from international markets.

www.marketmagnify.com
Ph: 0731-6619100



No comments:

Post a Comment