Precious Metals
Gold prices rose by 0.22 per cent on Friday at the domestic markets supported by tensions in the Ukraine and Middle East. The U.S. believes Russia is firing artillery across its border at Ukrainian military positions, a claim that Moscow is playing a more direct role in the Ukrainian conflict. Gold
futures for August 2014 contract, at MCX, were trading at Rs. 27,686 per 10 grams, up by 0.22 per cent, after opening at Rs. 27,661, against the previous closing price of Rs 27,626. It touched an intra-day high of Rs 27,695 till the trading. (At 11.36 AM today). Further, weaker dollar raised the appeal of the bullion as an alternative asset. Weaker dollar makes the precious metal cheaper for those holding other currencies, thus increasing demand.
SILVER
Silver followed suit and lost Rs 600 to Rs 44,400 per kg. Traders said a weakening global trend as the outlook for improving economic growth and strengthening of the dollar curbed demand for the precious metal as a safe-haven mainly kept pressure on gold and silver prices. Gold in Singapore, which normally sets price trend on the domestic front, fell 0.2 per cent to $1,291.64 an ounce. In Delhi, gold of 99.9 and 99.5 per cent purity fell further by Rs 100 each to Rs 28,100 and Rs 27,900 per 10 grams, respectively. It had lost Rs 160 yesterday. In a similar fashion, silver -ready dropped by Rs 600 to Rs 44,400 per kg and weekly-based delivery by Rs 620 to Rs 44,015 per kg. The white metal had lost Rs 400 in the previous session. Silver coins also tumbled by Rs 2,000 to Rs 78,000 for buying and Rs 79,000 for selling of 100 pieces.
D A I L Y B U Z Z
GOLDGold prices rose by 0.22 per cent on Friday at the domestic markets supported by tensions in the Ukraine and Middle East. The U.S. believes Russia is firing artillery across its border at Ukrainian military positions, a claim that Moscow is playing a more direct role in the Ukrainian conflict. Gold
futures for August 2014 contract, at MCX, were trading at Rs. 27,686 per 10 grams, up by 0.22 per cent, after opening at Rs. 27,661, against the previous closing price of Rs 27,626. It touched an intra-day high of Rs 27,695 till the trading. (At 11.36 AM today). Further, weaker dollar raised the appeal of the bullion as an alternative asset. Weaker dollar makes the precious metal cheaper for those holding other currencies, thus increasing demand.
SILVER
Silver followed suit and lost Rs 600 to Rs 44,400 per kg. Traders said a weakening global trend as the outlook for improving economic growth and strengthening of the dollar curbed demand for the precious metal as a safe-haven mainly kept pressure on gold and silver prices. Gold in Singapore, which normally sets price trend on the domestic front, fell 0.2 per cent to $1,291.64 an ounce. In Delhi, gold of 99.9 and 99.5 per cent purity fell further by Rs 100 each to Rs 28,100 and Rs 27,900 per 10 grams, respectively. It had lost Rs 160 yesterday. In a similar fashion, silver -ready dropped by Rs 600 to Rs 44,400 per kg and weekly-based delivery by Rs 620 to Rs 44,015 per kg. The white metal had lost Rs 400 in the previous session. Silver coins also tumbled by Rs 2,000 to Rs 78,000 for buying and Rs 79,000 for selling of 100 pieces.
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