gold shown postie performance support of buyer gold price hit four month high 29,250 for 10 grams in Indian bullion market.buyers thinking the season is start for sharvana masa festivals deepavali,dasaralike and marriages celebration take off from this session .Indian buyers are expected huge demand in this season after serial collapse of gold price.and also well supported by global cues
the dollar price also one of reason for bullish of gold the speculators buying gold form the bullion market instead of buying dollar .the speculator are expecting 35,000 level
the white gold and another precious material silver also touched 45,000/kg level after good industrial demand
Silver ready (.999 fineness) raised to Rs 1,825 to finish at Rs 45,115 per kg from 43,290 last weekend.
"The inflows into SPDR is good news," said a trader in Hong Kong as quoted by Bloomberg. "The fund tends to have an impact on prices because of its size. But I don't think (inflows) will persist as fundamentals for gold are still negative."
Palladium and platinum have also supported this rally.
the major impact on gold price increasing the gold exchange traded funds inflows.
the dollar price also one of reason for bullish of gold the speculators buying gold form the bullion market instead of buying dollar .the speculator are expecting 35,000 level
the white gold and another precious material silver also touched 45,000/kg level after good industrial demand
Silver ready (.999 fineness) raised to Rs 1,825 to finish at Rs 45,115 per kg from 43,290 last weekend.
Highlights for gold price
- bullish dealers addressed to media gold in strong bullish trend due to the huge demand expected for festival and fall in Indian rupee.
- the second factor in US economic data. the speculator are expected dollar price falling after 61.28 rally compare to Indian rupee.
- world's biggest gold exchange-traded fund recorded the first inflow in two months.this is also main reason for markets they expected continue rally in gold and silver prices.
"The inflows into SPDR is good news," said a trader in Hong Kong as quoted by Bloomberg. "The fund tends to have an impact on prices because of its size. But I don't think (inflows) will persist as fundamentals for gold are still negative."
Palladium and platinum have also supported this rally.
the major impact on gold price increasing the gold exchange traded funds inflows.
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