Silver Prices fell on weaker Euro against US$ - ZENMoney

Gold prices rose on tuesday on strong physical demand coupled with Chinese inflation data. The Signs of tightness in gold forward market also boosted investor sentiment. The technical buying also forced investors to cover short positions. A sharp fall in holdings in gold ETF's and persistent fears over the end of easy central bank money along with a strengthening dollar against basket of currencies capped the gains.

Silver Prices fell due to a weaker Euro against dollar after S & P's cut Italy's sovereign credit rating along with comments from ECB policymaker Joerg Asmussen coupled with expectations on Federal reserve stimulus programme. However, The increased offtake by industrial units and coin makers along with chinese inflation data supported the white metal at lower levels.

Base metals prices fell due to strengthening dollar against basket of currencies on expectations that the Federal Reserve will reduce stimulus at a time when other major central banks are likely to ease further. The persistent worries over Chinese metals demand and improved supply of the copper to the market added further pressure to the base metals.

Source : Equity Bulls

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