Gold prices climb up
Gold prices moved higher as it was at Rs 27,170, up 0.49%, while silver was trading at Rs 39,118, up 1.57%.
The development was aided by dull Japanese inflation numbers
and an impasse over re-capitalisation of the Italian third largest
bank. In Japan, the core CPI for November contracted by 0.4% on yoy
basis, the ninth consecutive decline, indicating that the economy is
still deprived of the impetus to attain BOJ’s inflation target rate of
2%.
Japanese household spending during November also witnessed an annual
contraction of 1.5%. With respect to the Italian banking situation, the
European Central Bank (ECB) stated that Italy’s Monte dei Paachi di
Siena has a capital shortfall of 8.8 bn euros, larger than the estimated
amount of 6.5 bn euros by Italian regulators.
On speculative front, CTF reported that funds/non-commercials trimmed
their net longs positions on COMEX Gold by 14,994 contracts during last
week. On outlook, not many changes are likely to emerge in terms of
price trend this week given the thin market participation and light
liquidity conditions ahead of the year end.
Earlier, the prices of gold and silver settled higher on Wall Street.
If you want to more information regarding the Stock cash tips, Stock tips, Nifty tips, Commodity tips, equity tips call @8109999233 or fill form http://equityresearchlab.com/Freetrial.php please drop your number for profit calls...?
No comments:
Post a Comment