Bullion Tips : Gold dropped down 21 Jan, 2016

Bullion Tips : Today, Gold dropped down early in Asia, slipping from a 1-1/2-week high, as battered stocks bounced back along with US crude.

Important Points :

Spot gold was off 0.2 per-cent at USD 1,099.40 an ounce by 0039 GMT, after touching USD 1,109.20 on yesterday, its highest since January 8.

US gold for Feb delivery slided 0.6 per-cent to USD 1,099.60 an ounce.

Bullion has benefited from the risk-averse sentiment that has dragged equities and oil to multi-year lows & pushed investors towards assets deemed as secure havens.

Still, the metal has found resistance around USD 1,100 as the threat of further US interest rate increases and a stronger US dollar suggest limited upside potential.

But hopes of another US interest rate increase in March diminished after consumer prices unexpectedly fell in Dec as the cost of energy products and food declined, offering signs of weak inflation.

Continue reading →

Bullion tips & market updates for 28 Dec, 2015

Bullion tips & calls

Bullion traders told the pick-up in buying kept gold prices higher, but gains were prohibited due to closure of world wide markets for Christmas festival.

Lending support to previous day gains, gold prices rose further by Rs 15 to Rs 25,690 per 10 gms at the bullion market today following a buying surge by retailers & jewellers.

Moreover, silver prices went down Rs 25 to Rs 34,300 per kg due to lack of buying support from industrial units & coin-makers.

In the national capital, gold of 99.9 per-cent & 99.5 per-cent purity advanced by Rs 15 each to Rs 25,690 & Rs 25,540 per 10 gms, respectively. It has gained Rs 125 yesterday.

Read More : Bullion tips

Continue reading →