• Gold and silver daily review (August 27, 2015)


    Spot gold prices declined by 1.32 percent on Wednesday to close at $1125.2 per ounce on strengthening dollar and rising US equities while investors kept a close eye on China's efforts to support its economy.

    Global stocks have lost more than $5 trillion since China devalued its currency on Aug. 11.

    On the MCX, gold prices declined by around 1 percent to close at Rs.26675 per 10 gms.


    Spot silver prices lost its value by around 4 percent on Wednesday to close at $14.1 per ounce in tandem with fall in gold prices and strengthening dollar. Weak base metals pack also acted as a negative factor.

    On the MCX, silver prices declined by 3.57 percent to close at Rs.34183 per kg.


    Quick policy actions by the Central Bank of China to smoother out volatility in the equities, strengthening dollar and possibility of rate hike by the Federal Reserve in its September meeting will likely lead to declining gold prices.

    On the MCX, gold prices are expected to trade sideways today.

    Contributed by Angel Broking
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