Silver, Base Metals rise, Gold remains unchanged - ZENMoney

Gold prices seesawed near unchanged and was last slightly lower during Wednesday's session as US lawmakers closed in on a deal. But losses were limited as physical buying in Asia and the US emerged after prices sank to three-month lows on Tuesday. The Yellow metal rose marginally during Tuesday's session due to economic uncertainty and after the latest news of the ongoing fiscal impasse in Washington triggered safe-haven buying. A firmer US dollar against Euro limited the gains in the yellow metal.

Silver Prics rose as US lawmakers closed in on a deal. A weaker Euro against US dollar limited the gains in the White metal prices. However, the white metal fell during Tuesday's trade as investors were encouraged by signs of progress by U.S. lawmakers to end the standoff in Washington ahead of Thursday's deadline along with a weaker Euro against US dollar.

Base metals rose on Wednesday on the better demand prospects suggested by the last-minute deal that will have the US government paying its bills.A strengthening US dollar limited the gains in the metal prices. The prices of metals fell during Tuesday's session due to a strengthening US dollar against basket of currency hopes that a deal to reopen the US government and raise the government borrowing limit is close. The downside in the base metals were limited as investors bought on harvest concerns and sought value at recent lows.

Source : Equity Bulls

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