• Gold and silver daily review (September 24, 2015)

    Gold

    Spot gold prices rose by 0.48 percent on Wednesday to close at $1130 per ounce as possibility of Fed rate hike in the near term has been delayed while weak dollar also acted as a positive factor.

    On the MCX, gold prices around 1 percent to close at Rs.26684 per 10 gms.


    Silver

    Spot silver prices rose by 0.3 percent on Wednesday to close at $14.8 per ounce. The rise in silver prices is in tandem with rising gold prices and weak dollar. Strong momentum in Nickel also acted as a positive factor.

    On the MCX, silver prices rose by 0.44 percent to close at Rs.36183 per kg.


    Outlook

    Gold prices are expected to trade sideways today with weak physical demand from India on account of Pitrupaksha while the delayed rate hike from the US Federal Reserve will act as a positive factor.

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

    Contributed by Angel Broking
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