Precious Metals Edge Lower On Global Economic Concerns: April 12, 2012

Published 04/12/2012, 05:05 AM
Updated 05/14/2017, 06:45 AM
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Gold prices ended slightly lower by 0.2 percent on Wednesday and touched an intra-day low of $1652.94/oz. However, further decline was cushioned on account of weakness in the US Dollar Index.

The yellow metal closed its trading session at $ 1657.45/oz yesterday. On the MCX, Gold June contract traded on a flat note and touched an intra-day low of Rs. 28,541/10 gms on Wednesday.

Silver

Spot silver prices came under pressure and traded lower by 0.8 percent in yesterday’s trading session, taking cues from fall in gold prices. However, further decline was cushioned due to a weaker Dollar Index and upside in the base metals pack on Wednesday.

The white metal touched an intra-day low of $31.35/oz and ended its trading session at $31.5/oz yesterday. MCX Silver May contract dropped around by 0.4 percent and touched an intra-day low of Rs. 55,851/kg on Wednesday.

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