• Gold and silver daily review (August 28, 2015)


    Spot gold prices traded flat on Thursday to close at $1125.3 per ounce as prices headed for its biggest weekly rout since March, as upbeat U.S. growth and jobs data drove up stocks and the dollar, though uncertainty over the timing of a U.S. rate rise held losses in check.

    On the MCX, gold prices declined by 0.8 percent to close at Rs.26462 per 10 gms.


    Spot silver prices rose by 2.6 percent to close at $14.5 per ounce as dollar index strengthened by 0.5 percent. Strength in the base metals complex also acted as a positive factor.

    On the MCX, silver prices rose by 1.7 percent to close at Rs.34765 per kg.


    On an intraday basis, we expect gold prices to trade higher as international markets are up by around half a percent. Bargain hunting at lower levels coupled will also act as a positive factor. Strong growth and optimism in the US might possibly cap the rise in prices.

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

    Contributed by Angel Broking
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