Monday, 4 July 2016

Latest Commodity Market News ; Silver climbs to highest since July 2014

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Silver climbs to highest since July 2014; Gold near 2-year peak :-
Silver futures spiked to levels not seen since July 2014 on Monday, while gold stayed near the strongest level in more than two years, as bullish momentum in the precious metals complex remained intact. The precious metal rose almost 9% in June, its biggest monthly increase since February.
Gold regains Rs 31,000-mark on renewed demand, silver tops Rs 47,000 :-
Gold reclaimed the Rs 31,000-mark, at the domestic bullion market here today following fresh offtake from investors and stockist triggered by bullish global cues. Elsewhere, silver continued its rising streak for the fourth day and reclaimed Rs 47,000 mark by surging Rs 2,260 per kg, its highest in more than two-years, on heavy speculative rally, also weighed by higher overseas markets.

Standard gold (99.5 purity) spurted by Rs 335 to end at Rs 31,080 per 10 grams from previous level of Rs 30,745.  Pure gold (99.9 purity) also climbed by a similar margin to close at Rs 31,230 per 10 grams as compared to Rs 30,895 earlier. Silver (.999 fineness) zoomed up by Rs 2,260 to finish at Rs 47,340 against Rs 45,080 previously.The level has not been seen since March 3, 2014. 

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