Friday, 12 February 2016

Mcx Commodity Market News for Gold and Silver

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Gold settled up 5.21% at 29791, breached 30000 mark 1st time after March 2014 tracking Comex Gold which skyrocket in yesterday session rosed above $1,260 logged their highest settlement since Feb. 5, 2015 saw their largest one-day dollar and percentage gain since Sept. 19, 2013 since the financial crisis as investors sought havens from broad financial turmoil. Gold price rose more than 5 per cent in yesterday session while risen nearly 18 per cent this year as global inflation expectations have eased sharply and big central banks push negative interest rate policies, its best start to the year since 1980.

Silver settled up 4.1% at 38288 breached above 38000 level seen after June 2015 as sharp declines in stocks sent tremors through global markets pushing investors to seek shelter in the safe-haven asset. Silver gained tracking gain's from Gold prices which showed a massive gains, gold posted its strongest one-day gains since December 1, 2014 when it soared nearly 7% to eclipse $1,260. Gold closed higher for the seventh consecutive session and the ninth time in the last 10 sessions. The precious metal is now up by approximately 18% on the quarter and is on pace for its strongest three-month period in 30 years.

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