Discounts Fall as Gold Turns Cheaper

Discounts Fall as Gold Turns Cheaper

Gold Silver Reports — Discounts offered by domestic gold dealers on global spot benchmark prices have dropped to $30-40 per troy ounce from about $100 per troy ounce last week with prices of the precious metal falling about 4%.

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MCX Silver Down Support at 46385 By Neal Bhai

MCX Silver Down Support at 46385 By Neal Bhai

Gold Silver Reports — MCX Silver settled down -0.23% at 47167 as risk averse sentiment cooled expectations of easing monetary policies across the globe. Shares edged slightly lower as a downturn in crude oil curbed the enthusiasm from fresh record highs on Wall Street. While Britain’s shock vote to leave the European Union has led players to raise their bullion price forecasts again this year, after the decision shook up financial markets and sparked a rally in the precious metal to 2-year high.

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Copper Jump on Weak Dollar

gsr-copper-mcx-neal-bhai-reportsGold Silver Reports — MCX Copper edged higher on Monday on the back of a weaker dollar but gains were kept in check after lackluster rises in Chinese home prices fuelled worries about demand in the world’s top metals consumer. Data on Monday showed home price rises in China slowed in June for a 2nd straight month, adding to concern over the sustainability of a construction-led economic rebound.

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