Gold, silver futures prices rally over boost demand for precious metals

Gold, silver futures prices rally over boost demand for precious metals

Gold and silver futures prices rallied to multi-month highs on Tuesday as the current indications by the Federal Reserve will hold interest rates at historic lows for some considerable time continued to boost demand for precious metals.

U.S. Exchange, gold for August futures delivery rose to a session peak of $ 1,326.40 a troy ounce, was the highest since April 15 before paring gains of the last trade of $ 1,324.20 during the European hours in the morning to 0.44%, or $ 5.80.

Also on the U.S. Exchange, silver for September futures delivery rallied 0.85%, or 17.8 cents, to trade at $21.14 a troy ounce, the highest level since March 18.

Gold and Silver prices also on MCX were trading higher on Tuesday.  At the Multi Commodity Exchange, gold for delivery in August contracts declined by Rs 156, or 0.56 per cent, to Rs 27,832 per 10 gram.  Gold price hit an intraday high of Rs 27842 and an intraday low of Rs 27585. So far 6080 contracts have been traded.

At the Multi Commodity Exchange, Silver for delivery in September was trading at Rs 45330 up Rs 465, or 1.04 percent. Silver price hit an intraday high of Rs 45344 and an intraday low of Rs 44657. So far 869 contracts have been traded.

The prices of gold and silver have been well leaning over the past sessions after Fed President Janet Yellen said last week as the central bank in no hurry to raise interest rates.

Precious metals are likely to benefit low interest rates and looser monetary policy, reducing the opportunity costs of keeping bullion non-yields.

Market participants looked ahead to key U.S. data on consumer trust and a report on new home sales later in the day to measure the strength of the economy.

The prospects for the U.S. recovery was boosted after data on Monday showed that manufacturing activity rose at the fastest rate within four years in June, while sales of existing homes jumped more than expected in May.


For latest Gold market accurate tips, mcx tips,  news & updates  with 100McxTips Commodity Trading Advisory, follow us on Twitter ( and on Facebook at (


MCX Commodity Tips is an experienced Commodity Research Advisory to predict investors buying and trading trends at various market environments. For free trial advisory on commodity Gold, Silver, Crude, Copper and all Indian Commodities kindly visit us and submit an query form at commodity free trial tips here.

Posted in Commodity, MCX

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

Free Crude Oil Tips
Free Trial Crude Trading Tips
Contact & Visit Info
M-Sat : 10am - 7pm

Error: Twitter did not respond. Please wait a few minutes and refresh this page.

NG Trading Tips
Free Trial Commodity Tips
Disclaimer: 100McxTIps would like to remind you that the data contained in this website is not necessarily real-time nor accurate. Bulloin Futures prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore 100McxTips doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .
%d bloggers like this: