Bullion
• Gold
– MCX gold August 2015 futures contract declined by 2.41%
in June to close the month at Rs.26,471
per 10 g.
– Mostly upbeat U.S. economic data releases (initial jobless
claims, non-farm payroll numbers, and GDP
data)
strengthened the case for a U.S. Fed rate
hike and kept
gold prices under pressure.
– Further, lingering Greece debt concerns with hopes of that
country striking a last-minute deal dulled
gold’s safe-haven
appeal and aided the decline in prices.
• Silver
– MCX silver July 2015 futures contract
closed the month at
Rs. 35,536 per kg, marking a monthly fall
of 7.34%.
– In addition to the factors that pulled gold prices down,
concerns over gloomy global economic
outlook, especially
from China due to an economic slowdown and
from
Europe (fallout of Greece debt crisis)
dented silver’s
industrial demand sentiments, pushing down
silver prices.
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