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

    Gold

    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.


    Silver

    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.


    Outlook


    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
About us
StockMarketsReview.com provides news coverage, analysis and researches for world stock markets, commodities and currencies. We publish articles provided by experts of leading brokerage and investment companies. At our website investors can find daily, weekly and monthly reports, news, recommendations on the IPOs and fundamental analysis for stocks which are currently traded at the stock exchange.