Gold, Silver ; Bullion Overview: May 2015
• Gold
– MCX gold June 2015 futures contract marginally moved up
by 0.54% inMay to close the month at `26,860
per 10 g.
– Mixed U.S. economic data releases amidst continuing
uncertainty over Greek debt crisis as well as
the lack of
clarity over the timing of the US Fed rate
hike kept gold
pricemovement range-bound.
– Nevertheless, mild depreciation of the Indian rupee against
the dollar helped to give a slight push to
gold prices.
• Silver
– MCX silver July 2015 futures contract closed May at
`38,349
per kg, marking a monthly rise of 3.24%.
– Bargain hunting at low prices and weakness in the dollar,
together with a few downbeat data releases
helped silver
prices move up.
– Additionally, with Chinese central bank cutting rates for
the third time in the last six months,
industrial demand
sentiments for silver got boosted.
Macroeconomic
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