Gold, Silver may trade with a negative bias today: Angel

Angel Commodities has come out with its report on bullion. According to the research firm, Gold and silver are expected to trade with a negative bias today on account of strength in the US dollar index.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Travelcafe
moneycontrol.com

Home » News » Brokerage Recos - Commodities

May 16, 2012, 01.15 PM | Source: Moneycontrol.com

Gold, Silver may trade with a negative bias today: Angel

Angel Commodities has come out with its report on bullion. According to the research firm, Gold and silver are expected to trade with a negative bias today on account of strength in the US dollar index.

Like this story, share it with millions of investors on M3

Gold, Silver may trade with a negative bias today: Angel

Angel Commodities has come out with its report on bullion. According to the research firm, Gold and silver are expected to trade with a negative bias today on account of strength in the US dollar index.

Post Your Comments

Share Cancel

(more)

, Angel Commodities |

Angel Commodities has come out with its report on bullion. According to the research firm, Gold and Silver are expected to trade with a negative bias today on account of strength in the US dollar index.

Gold: Prices on the international markets declined almost 1 percent and touched a four and a half month low of $1541.10/oz on Tuesday. Rising uncertainty with respect to global economic growth due to escalating tensions over Europe’s debt crisis especially with Greece being the matter of concerns and weak sentiments in the markets acted as a negative factor for gold prices. Additionally, strength in the US dollar index also exerted further downside pressure on the yellow metal prices. On the MCX, Gold June contract witnessed a fall of around 0.4 percent and touched an intra-day low of Rs.27,992/10 gms on Tuesday.

Silver: Spot silver prices dropped sharply by 1.5 percent in yesterday’s trading session on account of strength in the US dollar index and weak sentiments in the global markets due to Euro Zone debt worries. Moreover, silver being an industrial metal also take cues from downside in base metals complex yesterday. Silver hit an intra-day low of $27.56/oz and ended its trading session at $27.70/oz on Tuesday. MCX Silver July contract declined by 1.3 percent and touched an intra-day low of Rs. 52,820/kg yesterday.

Outlook: Gold and silver are expected to trade with a negative bias today on account of strength in the US dollar index, as a stronger dollar makes dollar-denominated commodities look expensive for holders of other currencies. In addition to this, risk aversion in the global markets due to Euro Zone debt worries will also act as a negative factor. Silver will also take cues from downside in base metals pack. However, a weaker Rupee may cushion sharp fall on the Indian platform.

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 here

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Gold, Silver may trade with a negative bias today: Angel

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login