Gold, Silver prices fall, Base Metals closed mixed - ZENMoney

Gold prices fell as a rally in US equities that was sparked by encouraging December retail sales data dampened buying sentiment among bullion investors. A strong physical demand from Chinese investors along with a weaker US dollar against basket of currencies supported the Yellow metal prices at lower levels. The yellow metal prices rose as domestic markets as some of the market participants enlarged their positions even a sideways trend overseas.

Silver Prices fell due to encouraging US December retail sales data. However, a strengthening Euro against USdollar after comments from European Central Bank Governing CouncilmemberEwald Nowotny supported the White metal prices at lower levels. The increased offtake by industrial units and coin makers supported the White metal prices rise at domestic markets.

Base metals closed mixed as gains in nickel and lead continue to steal the focus of the market while copper and aluminium drift lower. Nickel extended its recent strong gains to hit its highest price since late December, as investors anticipated the supply-limiting effects of an export ban in top ore-exporter Indonesia. But copper slipped on caution over growth prospects in China.

Source : Equity Bulls

Keywords