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Gold And Silver Updates For 10 April 2017

Gold And Silver Updates For 10 April 2017

Gold trading range for the day is 28443-29121.Gold prices gave up most of its gains as the dollar rose and safe haven demand ebbed.Prices strengthened earlier after U.S. launched cruise missiles at an airbase in Syria, sparking concerns of an escalation in the Syrian civil war.Gold reserves value fell to $73.74 billion at the end of March, from $74.376 billion at end-February, data published on the Peoples Bank of China website also showed. Silver trading range for the day is 40342-42950.Silver dropped as the safe haven demand faded and the dollar index climbed to three-week highs.U.S. employers added the fewest number of workers in 10 months in March which is most attractive to investors in a low interest rate environment.The Bureau of Labor Statistics reported, Nonfarm payrolls grew by just 98,000 in March, well below expectations of...
Gold And Silver Updates For 03 April 2017

Gold And Silver Updates For 03 April 2017

Silver futures closed higher in the domestic market on Friday as participants raised their bets amid firming global trends. Analysts attributed the rise in silver prices at futures trade to a firming trend in the precious metals overseas. At the MCX, silver futures for May 2017 contract closed at Rs 42,353 per kg, up by 0.49 per cent, after opening at Rs 42,040, against a previous close of Rs 42,147. It touched the intra-day high of Rs 42,360. Gold futures closed lower in the domestic market on Friday as the U.S. dollar regained its footing above a key technical level and equities traded mostly higher, drawing some investor attention away from the precious metal. A stronger dollar can weigh on commodities priced in the currency, making them less attractive to purchasers using other monetary units. Metals extended losses after a pair of economic reports: jobless claims and a revised reading of gross domestic product. At the MCX, gold futures for April 2017 contract ended at Rs 28450 per 10 grams, down by 0.32 per cent, after opening at Rs 28,460 against a previous close of Rs 28,542. It touched the intra-day low of Rs...
Gold And Silver Updates For 29 March 2017

Gold And Silver Updates For 29 March 2017

Silver trading range for the day is 41825-42721. Silver remained supported as investors looked to see if U.S. President Donald Trump would be able to enact promised tax cuts and infrastructure spending. U.S. President Trumps failure to push through a healthcare reform bill prompted investors to question the extent to which he can deliver on pro-growth policies. The Fed raised interest rates earlier this month, but stuck to its outlook for two more hikes this year, instead of three expected by the market. Gold trading range for the day is 28701-28965. Gold settled flat as prices pulled back from its highs as the dollar and global equities recovered from recent losses. Kansas City Federal Reserve President Esther George said she needs more details on the Trump administrations fiscal proposals. SPDR gold trust holdings dropped by 0.21% i.e. 1.77 tonnes to 833.51 tonnes from 835.28 tonnes....
Gold And Silver Updates For 27 March 2017

Gold And Silver Updates For 27 March 2017

Silver trading range for the day is 41045-41861.Silver gained buoyed by a dip in the dollar, as weaker than expected economic data weighed on the greenback.Feds delicate interest-rate hikes are necessary given the economy is stable and any further fall in unemployment could lead to an inflation run-up.The Commerce Department said, orders for core durable goods, a category that excludes aircraft and military goods rose 0.4% in February. Gold trading range for the day is 28650-28900.Gold prices slipped lower as the U.S. dollar regained some strength ahead of a highly-anticipated vote on U.S. President Donald Trumps healthcare bill.Gold prices have been supported by expectations that the Fed will raise interest rates more slowly than some had feared.Bullard said that just one more rate hike this year would be appropriate following a rise earlier this...
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