Silver Brink Minor In Fresh Business
NEW DELHI: Precious metals gold and silver were trading lower in early trade on the Multi Commodity Exchange (MCX) on account of subdued demand from investors, jewellers and industries. The yellow metal was trading 0.39 per cent, or Rs 115, down at Rs 29,399 per 10 gram, while the white metal was down 0.49 per cent, or Rs 207, at Rs 41,980 per 1 kg.On the near-term movement of gold, Abnish Kumar, Director and Research Head, Amrapali Aadya said, “Gold to trade steady on safe heaven demand as uncertainties continue to fuel. Amid uncertainties over geo-political tension over North Korea now UK prime minister decided to go into snap election in June 2017. Early election in Britain to strengthen Brexit hand and may have an impact in French election too. Amid high volatility European currencies Euro and GBP to gain strength against the US Dollar .eakness in USD to spark demand for non-yielding assets such as gold.”
SMC Investment and Advisors believes Gold (June) can move in range of Rs 29,500-29600 per 10 gram while silver (May) can move in range of Rs 41,800-42,500 in near term.
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Silver Price Equal Off with Notable Support
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Gold prices held firm on Monday near 3-1/2 month highs hit in the previous session, with investor...
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