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As it stated in Ahmedabad gold spot prices on the NCDEX closed 1.05 per cent up at Rs 29,594 per 10 gm on Monday, while silver closed at Rs 43,400 per 1 kg against Rs 42,675 per 1 kg on Tuesday. However, holdings of the largest silver-backed exchange-traded-fund (ETF), New York's iShares Silver Trust SLV, stood at 10428.42 tonnes, remain unchanged from previous business day.Nirmal Bang Commodities in a research note said, "We expect prices to trade range bound for the day as investors awaited a speech by US President Donald Trump later in the day for more clarity on his economic policy. NEW DELHI: Gold and silver on the Multi Commodity Exchange (MCX) were trading lower in early trade on Tuesday on account of subdued demand of precious metals from jewellers, retailers and industries.Traders are also waiting for a speech by the US President Donald Trump later in the day for more clarity on his economic policy.The yellow metal was trading 0.43 per cent, or Rs 129, down at Rs 29,581 per 10 gram, while the white metal was trading 0.35 per cent, or Rs 154, down at Rs 43,270 per 1 kg.SPDR Gold Trust GLD, the world's largest gold-backed exchange-traded fund, said its latest holdings stood at 841.17 tonnes, remain unchanged from previous business day.
as mentioned in There was maybe a bit of book squaring ahead of Mr. Trump's speech," said Bill O'Neill, co-founder of LOGIC Advisors. "There is elevated uncertainty ahead of the (Trump) speech. Spot silver rose 0.4 percent to $18.33 an ounce, in sight of the 3-1/2-week high of $18.48 set in the previous session. INTL FCStone analyst Edward Meir said in a note that any price movement following Trump's speech was likely to be short-lived because "many of the proposals need to translated into actual legislation and also need congressional approval." Spot gold was down 0.1 percent at $1,250.93 an ounce by 3:10 p.m. EST (2010 GMT), below the previous session's 3-1/2-month high of $1,263.80.
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As it stated in Ahmedabad gold spot prices on the NCDEX closed 1.05 per cent up at Rs 29,594 per 10 gm on Monday, while silver closed at Rs 43,400 per 1 kg against Rs 42,675 per 1 kg on Tuesday. However, holdings of the largest silver-backed exchange-traded-fund (ETF), New York's iShares Silver Trust SLV, stood at 10428.42 tonnes, remain unchanged from previous business day.Nirmal Bang Commodities in a research note said, "We expect prices to trade range bound for the day as investors awaited a speech by US President Donald Trump later in the day for more clarity on his economic policy. NEW DELHI: Gold and silver on the Multi Commodity Exchange (MCX) were trading lower in early trade on Tuesday on account of subdued demand of precious metals from jewellers, retailers and industries.Traders are also waiting for a speech by the US President Donald Trump later in the day for more clarity on his economic policy.The yellow metal was trading 0.43 per cent, or Rs 129, down at Rs 29,581 per 10 gram, while the white metal was trading 0.35 per cent, or Rs 154, down at Rs 43,270 per 1 kg.SPDR Gold Trust GLD, the world's largest gold-backed exchange-traded fund, said its latest holdings stood at 841.17 tonnes, remain unchanged from previous business day.
as mentioned in There was maybe a bit of book squaring ahead of Mr. Trump's speech," said Bill O'Neill, co-founder of LOGIC Advisors. "There is elevated uncertainty ahead of the (Trump) speech. Spot silver rose 0.4 percent to $18.33 an ounce, in sight of the 3-1/2-week high of $18.48 set in the previous session. INTL FCStone analyst Edward Meir said in a note that any price movement following Trump's speech was likely to be short-lived because "many of the proposals need to translated into actual legislation and also need congressional approval." Spot gold was down 0.1 percent at $1,250.93 an ounce by 3:10 p.m. EST (2010 GMT), below the previous session's 3-1/2-month high of $1,263.80.
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Precious metals pause ahead of Trump speech
It is worth remembering that Trump's speech immediately after his election victory on November 8 sent gold into a tailspin. After polls incorrectly predicted the Brexit and Trump election outcomes, the market remains wary about jumping to any strong conclusion. After another strong run higher, gold may now drift lower in search of support ahead of US president Donald Trump's budget speech early tomorrow morning at 0200 GMT (9 pm EST Tuesday). The Trump trade has reflated somewhat in recent weeks, with the dollar rally and bond selloff both losing some steam. Trump, however, is not the only factor setting the tone in the market.read more visit us gold
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