Monday, 5 October 2015

Best Trading Tips for Gold and Silver by MarketMagnify

Gold prices posted the biggest rally in 9 months on Friday after the weaker than expected jobs data.

The number also wiped out the expectations of an early rate hike which boosted the Gold’s sentiments the most. Elsewhere, Gold speculator and large futures traders boosted their gold bullish positions higher last week for a second consecutive week and to the highest level since June, according data released by the Commodity Futures Trading Commission (CFTC) on Friday.

Silver prices posted a 5 % rally on Friday after the dismal employment data dampened the rate hike expectations.

Silver prices rallied too in tandem with the rally seen in overall precious metals complex. World Bank has recently downgraded the China’s GDP forecast to 6.9 % from an earlier figure of 7.1 %, which is further likely to support the precious metals on the upside. The prices at MCX are expected to open with a gap up given the fact that the markets were closed on Friday.

www.marketmagnify.com
Ph: 0731-6619100

No comments:

Post a Comment