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Gold Silver Hot Buzz for 4 Jan 2017

Gold Silver Hot Buzz for 4 Jan 2017

Silver trading range for the day is 38710-41350.Silver prices rallied reversing losses from a rising U.S. dollar amid renewed investor interest in the New Year. U.S. factory activity accelerated to a two-year high in December amid a surge in new orders and rapidly rising raw material prices. Data showed U.S. construction spending hit a 10-12-year high in November, providing a boost to a fourth-quarter economic growth estimate.

Gold trading range for the day is 27311-28057.Gold prices rose as early gains in stocks and other assets perceived as risky gave up gains and investors fled to save-haven bullion. Gold fell sharply in the wake of Donald Trump’s victory in the U.S. presidential election in November, sliding more than 12 percent in the fourth quarter. SPDR gold trust holdings dropped by 1.01% i.e. 8.30 tonnes to 813.87 tonnes from 822.17 tonnes.

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