Wednesday, 3 August 2016

August Silver Commodity Market ; Price of Silver Hits Two-Year Highs on Dollar Weakness

The dollar remained on the defensive during Tuesday and helped push silver prices to two-year highs above $20.80 per ounce with wider demand for precious metals also in evidence during the day. Silver dipped lower in Asian trading on Tuesday, although overall losses were limited as prices held comfortably above the $20.00 level. Read more Live Commodity Gold/Silver Market News at: www.marketmagnify.com/freetrial.php or Get Free Trials Just Give One Missed Call @78-79-88-11-22.

Gold stays on upward curve; global cues, buying spree help :-
Taking comfort from firm global developments and increased buying by jewellers at the domestic market, gold rose for the second straight day by surging Rs 220 to Rs 31,250 per 10 grams today. Silver bounced by Rs 470 to Rs 47,820 per kg backed by increased demand from coin makers and other consuming industries. 

In the national capital, gold of 99.9 percent and 99.5 percent purity surged Rs 220 each to Rs 31,250 and Rs 31,100 per 10 grams respectively. It had gained Rs 50 yesterday. Sovereign followed suit and jumped Rs 100 to Rs 24,300 per piece of eight grams. 

Tracking gold, silver ready recovered Rs 470 to Rs 47,820 per kg while weekly-based delivery recaptured the crucial 48,000-mark by rising Rs 655 to Rs 48,400 per kg. Silver coins, too, spurted by Rs 1,000 to Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.

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