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Gold Silver Reports — Gold futures inched higher Friday, adding to weekly gains amid concerns about gridlock in Washington, DC, geopolitical tensions, and slumping equities. Renewed speculation that the Federal Reserve will be very cautious in raising interest rates has also given the precious metal a boost. April gold settled at $1,248.50/oz, up $1.30, or 0.1%, for a weekly gain of 1.5%.
Gold Silver Reports — Gold continued to slip in afternoon as a firm opening in European equities kept the metal under check. The commodity has extended a drop from about two month highs extended. Traders are eyeing the weekend and taking some money off the table after the sharp array of gains in the metal this week. The counter is quoting at $1248 per ounce, down 0.25% on the day. MCX Gold futures are also down 0.14% at Rs 28760 per 10 grams. Worries over poor speculative demand seem to be weighing on the metal.
Gold Silver Reports — MCX Copper slipped today following resumption of operations at a key global mine. The strike at Chiles Escondida, the worlds largest copper mine, is ending after workers decided to invoke a rarely used legal provision that allows them to extend their old contract, the union said on Thursday. The strike halted operations for more than 40 days.
Gold Silver Reports — Gold eased further today as a drop from about two month highs extended. Traders are eying the weekend and taking some money off the table after the sharp array of gains in the metal this week. The counter is quoting at $1242.75 per ounce, down 0.36% on the day. MCX Gold futures are also down 0.20% at Rs 28739 per 10 grams. Worries over poor speculative demand seem to be weighing on the metal.
Gold Silver Reports — Gold slipped a bit as about two month highs triggered some profit selling. However, the recent recovery has enthused Gold bulls and a further uptick from hereon is quite possible. Indian imports are also rebounding, helping lift the sentiments. COMEX Gold is currently down 0.26% at $1247 per ounce. MCX Gold futures backed off from highs near Rs 28950 per 10 gram levels and ended down 0.30% at Rs 28800 levels. Further losses are possible if the counter drags under Rs 28700 mark today.
Gold Silver Reports — The United States has got a lot of crude oil on its hands right now. According to data released by the US Energy Information Administration (EIA), stockpiles swelled by a further 4.95 million barrels to 533.1 million barrels.
Gold Silver Reorts — Gold prices are steadily climbing as equities retreat and concern deepens among investors that Donald Trump won’t deliver on pro-growth promises for the U.S. economy.