Thursday, 25 February 2016

Daily Commodity Gold and Silver Updates

Daily Commodity Updates On

Gold prices moved up yesterday as the global risk-on mood ended with sharp losses in equities and oil prices. Prices firmed above $1230/ounce in overnight trade after the strong inflows in the gold ETFs that underpinned strong demand from institutional investors. 

The pace of inflows in the ETF holdings have been the fastest since the year 2010 and the inflows have exceeded the entire outflows seen in the year 2015.

Silver prices too ended higher in lines with gold prices as US existing home sales for January came in at 5.47 million, besting the economic consensus of 5.37 million, while the Richmond manufacturing index in February stood at -4, a divergence from the 2 prediction. US data due today include the flash services PMI, new home sales and crude oil inventories.

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