Manoj Kumar Jain
Director and Head of Commodity Research, India Nivesh
Both the precious metals were traded negative in international markets. Gold settled at $1286.65 per troy ounce down by 0.63% while silver settled at $15.76 per troy ounce down by 0.25%. Domestic markets were also settled negative. Gold settled at Rs.31456 per 10 gram with the loss of 1.05% and MCX Silver settled at 39173 per 1 kilogram with the loss of 0.83%. Gold prices hit much awaited target of $1300 last Friday but profit booking is seen after Fed Chairman Powel comment as Fed will be patient in further rate hikes and rate will adjust further rate hike on the basis of performance of the economy.
