A divergent trend developed on the bullion market today as gold prices extended losses and declines by Rs 170 to Rs 26,820 per 10 grams on sustained selling, while silver recovered by Rs 500 to Rs 53,300 per kg on scattered buying.
Market experts said trading sentiment in gold remained bearish as retail customers and jewellery makers refrained from buying at existing higher levels and investors shifted their funds from bullion to rising equities.
In addition, a weakening global trend after the precious metal dropped $9.28 to $1,648.57 an ounce in London, following reports that France and Germany are nearing an accord to ease eurozone debt crisis, reduced the demand for the metal as a protection of wealth. Back home, gold rate of 99.9 and 99.5 per cent purity fell further by Rs 170 each to Rs 26,820 and Rs 26,680 per 10 grams, respectively. The metal had lost Rs 200 yesterday. Sovereigns also declined by Rs 50 to Rs 21,950 per piece of eight grams.
Source:http://www.indianexpress.com/news/Gold-falls-further-by-Rs-170--silver-adds-Rs-500/862237/
Wednesday, October 19, 2011
Thursday, June 2, 2011
US Economy Struggles as QE2 is Set to Expire
Today Silver news
The weak US dollar that lent support to silver prices yesterday was a nonfactor in today’s trading. Spot silver prices on the day were weak, ending the day down $1.65 to $36.82 per ounce.
Economic concerns continue to weigh heavy on the minds of investors. These concerns center on the debt crisis in Europe and the US. Most analysts agree that the economic recovery is cooling off. Ahead of US economic data set to be released on June 3rd, all signs indicate that the data will be weak. Jobless claims, the hallmark of the economic recovery, increased by 10,000 to 424,000 in the week ended May 21, according to US Labor Department figures.
As QE2 is set to expire at the end of the month the change in monetary policy and the effect on the US dollar, is at the forefront of investors’ minds.
Read More
The weak US dollar that lent support to silver prices yesterday was a nonfactor in today’s trading. Spot silver prices on the day were weak, ending the day down $1.65 to $36.82 per ounce.
Economic concerns continue to weigh heavy on the minds of investors. These concerns center on the debt crisis in Europe and the US. Most analysts agree that the economic recovery is cooling off. Ahead of US economic data set to be released on June 3rd, all signs indicate that the data will be weak. Jobless claims, the hallmark of the economic recovery, increased by 10,000 to 424,000 in the week ended May 21, according to US Labor Department figures.
As QE2 is set to expire at the end of the month the change in monetary policy and the effect on the US dollar, is at the forefront of investors’ minds.
Read More
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