Despite re-emergence of risk appetite in the global financial markets, gold prices closed in the positive territory on account of dollar weakness that made the commodity look attractive for holders of other currencies.
Also, latest announcements of European plans to ease the debt crisis may seem positive from the short-term perspective, long-term risks remain intact.
The US Dollar Index (DX) declined almost 2 percent and support gains in Spot Gold prices which closed yesterday’s session more than 1 percent higher.
Silver
Spot Silver prices gained a whopping 5 percent on Thursday, taking cues from gains not only in gold but also in the base metals space as silver is also an industrial metal.
Easing concerns over the global economy also helps reduce worries over demand growth for metals. This coupled with dollar weakness also supported upside in silver prices yesterday. But sharp gains on the domestic bourses were capped on account of Rupee appreciation.
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Precious Metals Settle Higher on Weak Dollar Index
Published 10/28/2011, 09:28 AM
Updated 05/14/2017, 06:45 AM
Precious Metals Settle Higher on Weak Dollar Index
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