The continuous rising gold rate in India halt on Monday. The precious metal closed lower on the NYSE. As the US Dollar gained some weight but the lingering uncertainty about the scope of U.S fed interest rate hikes after December kept the yellow metal above $1300 mark.
Gold ended lower Monday as the U.S. dollar strengthened slightly, but lingering uncertainty about the pace and scope of U.S. interest-rate hikes beyond December kept the yellow metal above the key $1,300 level for the second session in a row. In INR at the closing bell of NYSE, it was trading at 29928. In another trading window, silver prices fell slightly for December 0.63% $17.177 on the closing hours of NYSE and Rs 39086. In the Asian trade today Silver is trading at price of Rs 40,168 and Gold is trading at price Rs 29,760 at 10:24 IST Silver gained 3.7% for last week.
On the ongoing process of U.S Fed to strengthen the U.S economy will drag the precious metals in the coming future.But for a shorter period, it’s definitely bullish for traders. As the ongoing tensions across the borders of North Korea and Iran. Further political tensions between U.S and North Korea will take the Yellow Metal to 32000 INR mark.
Copper prices marked there three years high after strong Chinese economic data lifted the price of copper in the spot markets. The Chinese data lifted the demand prospects to Doctor Copper.