• Home »
  • »
  • MTECHTIPS:-Gold rises for 10th day on global cues; silver remains weak

MTECHTIPS:-Gold rises for 10th day on global cues; silver remains weak

MTECHTIPS:-Gold rises for 10th day on global cues; silver remains weak

gold added another Rs 25 to Rs 26,335 at the bullion market on Wednesday largely on firming global trend along with
continued seasonal buying by jewellers. Silver, however, remained under selling pressure and plunged by Rs 650 at Rs
35,300 per kg. Bullion traders said a firming global trend as investors await release of the US Federal Reserve minutes,
which may give further clues on the timing of an interest rate increase and sustained buying by jewellers to meet rising
demand mainly kept gold prices higher. Globally, gold traded a shade higher at USD 1,119.20 an ounce in Singapore.
Depreciating rupee against the dollar, making imports expensive, further fulled the uptrend in gold prices, they said. In the
national capital, gold of 99.9 and 99.5 per cent purity advanced by Rs 25 each to Rs 26,335 and Rs 26,185 per ten grams respectively.

www.mtechtips.com
07489294118-119