Monday, 4 July 2016

Today Gold Silver Market ; Silver Spikes Limit-Up, Gold Surges

Silver trading range for the day is 43925-47733. Silver gained to 22 months high as continued uncertainty following the Brexit vote and  concerns over a slowdown in China lent support to the safe-haven. For more Live Commodity Market Calls Visit Us or Get Free Trials Just Give One Missed Call @78-79-88-11-22.
Gold and silver prices started the week
in a volatile frame of mind, and as the day started fund buying and short-covering pushed the complex higher, before sell-stops kicked in and prices corrected lower.

Silver last traded at $20.055/20.135 per ounce, having earlier touched two-year highs of $21.130 – still it was up on the previous close of $19.765. The opening of the Shanghai Gold Exchange (SGE) saw silver aggressively bid in strong volumes, whilch culminated in both SGE and SHFE silver hitting limit up, traders noted.

“With the Shanghai market at its limit there was a surge of COMEX and loco-London buying in the white metal, which saw it quickly trade to the day’s peak,” MKS Capital noted.

Gold was last at $1,346.45/1,346.65 per ounce, up $5.50 on the previous day’s close. But, the yellow metal failed to get back above the post Brexit high of $1,359. Platinum at $1,050/1,060 was unchanged, while palladium at $604/609 was up $6.50.

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