Gold prices rebound during Friday's session - ZENMoney

Gold prices rebounded during friday's session due to short covering along with a better-than-expected consumer sentiment report coming in from US coupled with a weaker dollar against Euro on the back of positive German retail sales data. The persistent worries over the US Federal Reserve's plan to wind down its monetary stimulus dragged the yellow metal to record low during the previous session.

Silver Prices rebounded due to a weaker dollar against Euro on the back of positive German retail sales data and US data. The persistent worries over the US Federal Reserve's plan to wind down its monetary stimulus along with speculative selling as well as lack of industrial demand dragged the metal to record low during the morning session.

Base metals prices rebounded after stronger Chinese equities coupled with encouraging economic data coming in from US, Europe and Japan. The market further rose with expectations that the Federal Reserve will maintain its current stimulus program along with comments from New York Federal Reserve President William Dudley that a rise in short-term rates is very likely to be a long way off.

Source : Equity Bulls

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