Tuesday, 5 January 2016

Gold and Silver Mcx Market Updates

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Spot gold prices rose by 1.33 percent on Monday to close at $1074.3 per ounce as prices rallied to a four-week high on Monday, buoyed by rising tensions in the Middle East and a sharp drop in stocks following weak Chinese data that fueled concerns over global growth.A 7 percent drop in Chinese shares on Monday halted trading in Shanghai and dragged down stock markets around the world, as investors began 2016 with fresh worries over global growth and sought the safety of bonds and gold.On the MCX, gold prices rose by 1.74 percent to close at Rs.25397 per 10 gms.


Spot silver prices rose by 0.4 percent on Monday to close at $13.9 per ounce. Silver prices rose in tandem with rise in gold prices although all the base metals pack traded lower in yesterday’s trading session.On the MCX, silver prices rose by 0.59 percent to close at Rs.33533 per kg.

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