Gold and silver lose their sheen
DSIJ Intelligence / 30 Aug 2017
With the demand for precious metals not picking up pace, gold and silver were trading in the red during Wednesday’s trading session.
With the demand for precious metals not picking up pace, gold and silver were trading in the red during Wednesday’s trading session. MCX gold was trading lower by 0.24% at Rs 29,590 at 1111 hours while MCX silver was trading down by 0.28% at Rs 39,706 per 1 kg at the same time.
Gold is likely to trade lower on Wednesday as the geopolitical issue between the US and North Korea eased after a statement issued by the latter that the missile was in protest of the annual military exercises between the US and South Korea.
The latest holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.3% on Tuesday. Meanwhile, the major benchmark index Sensex was trading up by 240.49 points at the 31,628 levels and Nifty 50 was trading higher by 84 points at the 9,880 levels.
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