Tuesday, 12 April 2016

Best Commodity Market Tips for Mcx Gold and Silver

Gold prices traded above $ 1259/ounce in early morning today as weak economic data and uncertainty over US monetary policy have sparked risk-averse sentiment in the market, underpinning the demand for safety assets such as gold.

 Assets in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.22 percent to 817.81 tonnes on Friday.

Silver prices led from the front and ended the session with almost 4 % gains on COMEX to close at $16/ounce. On MCX also the prices spurred to end the session higher 2.85% at Rs 37764/Kg.

The total known ETF holdings rose by .19 % to 63.79 Million Oz , while more importantly the gold- silver ratio fell sharply towards 79 from a reading of 82 where it was hovering in the previous week.

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