Gold, Silver prices fall on Wednesday's trading - ZENMoney

Gold prices fell as strong US auto sales and after Federal Reserve's "Beige Book" report showed that the US economy expanded at a "modest to moderate" between early July and late August along with fears of a Western-led military strike against Syria lost some of their urgency. A weaker dollar against Euro supported the Yellow metal at lower levels.

Silver Prices fell due to profit booking after recent gains and on mounting fears about a Western-led military strike against Syria lost some of their urgency. A strengthening Euro against dollar supported the white metal at lower levels. A rebound in the indian currency after RBI intervention added pressure to the white metals at domestic market after recent rally.

Base metals ended lower after a string of upbeat factory activity reports this week from China and the United States reinforced prospects for the Federal Reserve to cut back on economic stimulus. Investors remained cautious as they considered a potential US strike on Syria more likely. Metals pared losses after the US dollar reversed, easing from a six-week peak versus a currency basket.

Source : Equity Bulls

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