Description:
In today’s 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, strength in the DX coupled with weak market sentiments will add downside pressure on the prices. However, sharp downside can be cushioned or reversal can be seen in prices on account of expectations of delay in QE tapering by the Federal Reserve after unexpected drop in consumer confidence data from US in yesterday’s trade. In the Indian markets, depreciation in the Rupee will cushion sharp downside movement in the prices.
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