Wednesday, 24 June 2015

Most Accurate Mcx and Commodity Tips Provider

Spot gold prices declined by 0.57 percent on Tuesday to close at $1177.9/oz as equities rallied on hopes that Greece would reach a deal with its creditors to stave off default.

On the MCX, gold prices declined by 0.63 percent to close at Rs.26597/10 gms.

Spot silver prices declined by 2.1 percent on Tuesday to close at $15.8/oz. Strengthening dollar coupled with weakness in gold prices acted as a negative factor for silver prices.

On the MCX, silver prices declined by 2.13 percent to close at Rs.36493/kg.

On an intraday basis, we expect gold and silver prices to trade lower on profit booking at higher levels coupled with strengthening dollar. Prospects of rise in the interest rates in the US will also exert downside pressure on prices. Meanwhile, the meeting between Greece minister and IMF will be crucial for further price trajectory.
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