Moneycontrol
Dec 17, 2012 01:21 PM IST | Source: Moneycontrol.com

Bullion may rally on weaker dollar overseas: Nirmal Bang

Nirmal Bang has come out with its report on precious metals. According to the research firm, prices are trading firm on COMEX today. A further rise is expected in the prices of precious metals on account of a weaker dollar overseas. Buying at dips is recommended for the day.


Nirmal Bang has come out with its report on precious metals. According to the research firm, prices are trading firm on COMEX today. A further rise is expected in the prices of precious metals on account of a weaker dollar overseas. Buying at dips is recommended for the day.


Precious metals prices ended little changed, finishing steady on the day but down for a third week, hampered by thin holiday season trading and uncertainties over stalled U.S. budget negotiations.


Holdings in the SPDR Gold Trust, the world's largest gold-backed exchange traded fund, stood at 1351.42 tonnes by Dec 14, remains unchanged from the previous business day.


Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust stood at 9871.29 tonnes by Dec 14, remains unchanged from the previous business day.


Egypt's largest gold producer, the Australiabased Centamin PLC, has been allowed by the government to export around 1.6 tonnes of the gold extracted from its Sukari mine, Al-Ahram's Arabic-language news website reported Sunday.


Indian gold importers continued to stock up for the wedding season, taking advantage as prices fell, weighed by a stronger rupee, and bracing for a year-end shut down by refiners for account closing.


Precious metals prices are trading firm on COMEX today. We expect a further rise in the prices of precious metals on account of a weaker dollar overseas. Buying at dips is recommended for the day.


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