Friday, 12 June 2015

Daily Updates about Gold and Silver in Commodity Market

Gold prices rose by 0.83 percent on Wednesday to close at $1186/oz bolstered by a softer dollar and worries over the Greek debt crisis, but a looming U.S. interest rate increase and outflows from bullion-backed funds capped the upside.

Greece said on Wednesday its international creditors had failed to respond to its latest proposal on breaking an impasse over a cash-for-reforms deal.

On the MCX, gold prices rose by 0.38 percent to close at Rs.26971/10 gms.

Spot silver prices rose by 0.2 percent to close at $16/oz in line with strength in gold \ prices. Dollar weakness by half a percent and strength in the base metals pack acted as a positive factor.

On the MCX, silver prices rose by 0.4 percent to close at Rs.37269/kg.

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