Expect Gold, Silver prices to trade higher today: Angel
Angel Commodities has come out with its report on bullion. According to the research firm, gold and silver prices are expected to trade higher.
April 26, 2012 / 12:49 IST
Angel Commodities has come out with its report on bullion. According to the research firm, gold and silver prices are expected to trade higher.
Gold: Positive sentiments in the global markets after Fed’s assurance to go for stimulus measures if needed coupled with weakness in the US dollar helped spot gold prices to trade higher by 0.2 percent in yesterday’s trading session. The yellow metal prices touched an intra-day high of $ 1645.96/oz and ended its trading session at $ 1644.13/oz on Wednesday. On the MCX, Gold June contract declined around 0.1 percent on account of appreciation in the Indian Rupee and touched an intraday low of Rs 28,635/10 gms yesterday.Silver: Spot silver prices traded slightly lower by 0.1 percent on Wednesday and touched an intra-day low of $ 29.92. However, weakness in the US dollar index and upbeat market sentiments resisted further decline in prices. The white metal ended its trading session at $ 30.7/oz yesterday. On the MCX, Silver May contract dropped almost 1 percent taking cues from a stronger Rupee and touched an intra-day low of Rs 54,426/kg on Wednesday.”Outlook: Fed’s statement has led to rise in risk appetite in the global markets and on account of this we expect the US dollar index to remain weak today. Taking cues from this, we expect gold and silver prices to trade higher. However, appreciation in the Indian currency may hold gains on the domestic bourses.Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.To read the full report click on the attachment Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
