Description:
In today’s gold and silver session, we expect precious metals to trade on a mixed note in international markets on the back of declining trend in gold and silver ETF’s holdings. Further, decline in safe haven demand after ease of sanctions on Iran will act as a negative factor. However, weakness in the DX coupled with upbeat market sentiments will cushion sharp downside or reversal in prices. Additionally, expectations of delay in QE tapering by the Federal Reserve after unfavourable economic data from US in yesterday’s trade will act as a supportive factor. In the Indian markets, appreciation in the Rupee will continue to add downside pressure on the prices.
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