According to the our analysit team, Silver and Gold are required to trade lower today on the back of poor market emotions due to deepening problems over Money Location debt disaster in addition to a more powerful dollars.
Gold: Spot Gold prices increased around 0.3 % on Friday on the returning of ideal employment data from the US. However, distinct profits were to cap it due to strength in the US dollar catalog in addition to combined market emotions. The gold moved an intra-day high of $ 1602/oz and ended its trading time at $ 1594/oz last night. However, MCX Gold May contract dropped around 0.7 % on the returning of gratitude in the Native indian Rupee and moved an intra-day low of Rs. 28,400/10 gms.
Silver: - Taking cues from combined overall performance in base materials in addition to a more powerful money, Spot Siver prices decreased by 0.7 % on Saturday. The white steel moved an intra-day low of $ 28.91/oz and finished its trading time at $ 29.12/oz last night. On the MCX, Silver September agreement decreased more than 1 % on account of a more powerful Rupee and moved an intra-day low of Rs. 54,380/kg on Friday.
We expect Gold and silver coins to trade lower today on the back of poor market emotions due to deepening problems over Dollar Location debt disaster in addition to a more powerful dollar. Additionally, silver demand concerns from Chinese suppliers, globe's second biggest consumer of silver, will also act as a negative factor for prices. However, devaluation in the Native indian Rupee may hold further fall on the MCX.
Crude oil prices will increase failures this week as risk aversion excited by constant governmental concern in European countries continues to bother markets.
Gold: Spot Gold prices increased around 0.3 % on Friday on the returning of ideal employment data from the US. However, distinct profits were to cap it due to strength in the US dollar catalog in addition to combined market emotions. The gold moved an intra-day high of $ 1602/oz and ended its trading time at $ 1594/oz last night. However, MCX Gold May contract dropped around 0.7 % on the returning of gratitude in the Native indian Rupee and moved an intra-day low of Rs. 28,400/10 gms.
Silver: - Taking cues from combined overall performance in base materials in addition to a more powerful money, Spot Siver prices decreased by 0.7 % on Saturday. The white steel moved an intra-day low of $ 28.91/oz and finished its trading time at $ 29.12/oz last night. On the MCX, Silver September agreement decreased more than 1 % on account of a more powerful Rupee and moved an intra-day low of Rs. 54,380/kg on Friday.
We expect Gold and silver coins to trade lower today on the back of poor market emotions due to deepening problems over Dollar Location debt disaster in addition to a more powerful dollar. Additionally, silver demand concerns from Chinese suppliers, globe's second biggest consumer of silver, will also act as a negative factor for prices. However, devaluation in the Native indian Rupee may hold further fall on the MCX.
Crude oil prices will increase failures this week as risk aversion excited by constant governmental concern in European countries continues to bother markets.
