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Gold Silver Updates for 29 Dec 2016, Have a Look!

Gold Silver Updates for 29 Dec 2016, Have a Look!

Silver trading range for the day is 38882-39796.Silver prices edged up tracking firmness in gold as subdued cash demand and investor short-covering helped offset a stronger U.S. dollar. Contracts to buy previously owned U.S. homes fell in November to their lowest level in nearly a year, a sign rising interest rates could be weighing on the housing market. Recently released solid U.S. economic data prompted the Fed to raise U.S. interest rates for the first time in a year.

Gold trading range for the day is 27135-27429.Gold prices crawled in the range after prices open up as supported by a softer dollar and short-covering. Gold hit a 10-month low on Dec. 15 as solid U.S. economic data prompted the Fed to raise U.S. interest rates for the first time in a year. Reflecting bearish investor sentiment, assets in the SPDR Gold Trust fell 0.14 percent to 823.36 tonnes on Tuesday.

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