29.01.2015 Gold-Silver Metals Tips
Gold futures for February 2015 contract, at Multi Commodity Exchange, were trading at Rs. 27,890 per 10 grams, down by 0.04 percent after opening at Rs. 27,865 against the previous closing price of Rs. 27,902.
Silver prices fell 0.32 percent to Rs 40,080 per kg in futures trade today as speculators trimmed positions. At the Multi Commodity Exchange, silver for delivery in far-month May traded lower by Rs 129, or 0.32 percent, to Rs 40,080 per kg in business turnover of 35 lots.
Gold prices fell by 0.04 percent on Wednesday at the domestic markets with investors looking ahead to comments from the Federal Reserve on the prospects for a rate hike this year. Further, stronger dollar reduced the appeal of the bullion as an alternative asset. Stronger dollar makes the precious metal expensive for those holding other currencies, thus reducing demand.
The white metal for delivery in March declined by Rs 120, or 0.30 percent, to Rs 39,410 per kg in business volume of 828 lots.
Gold prices fell by 0.04 percent on Wednesday at the domestic markets with investors looking ahead to comments from the Federal Reserve on the prospects for a rate hike this year. Further, stronger dollar reduced the appeal of the bullion as an alternative asset. Stronger dollar makes the precious metal expensive for those holding other currencies, thus reducing demand.
The white metal for delivery in March declined by Rs 120, or 0.30 percent, to Rs 39,410 per kg in business volume of 828 lots.
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- January 29, 2015