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Tuesday, 24 February 2015

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Gold prices up a tad in early Asia:-
Gold steadied near a seven-week low on Tuesday as investors looked to Federal Reserve Chair Janet Yellen's Senate testimony for signs of when the U.S. central bank could raise interest rates. Gold prices rose slightly in early Asia on Tuesday with China markets set to re-open on Wednesday and Greece still to turn over its lisst of reforms needed to secure further euro zone loans.
On the Comex division of the New York Mercantile Exchange, gold futures for April delivery rose 0.14% to trade at $1,203.10.Meanwhile, silver futures for March delivery gained 0.18% to trade at $16.360 a troy ounce. Elsewhere on the Comex, copper for March delivery was flat at $2.589 a pound in holiday-thinned trade.
Spot gold was little changed at $1,201.10 an ounce by 0247 GMT. The metal on Monday hit its weakest since Jan. 5 at $1,191.01.Gold has fallen more than 6 percent this month, nearly erasing January's 8.4-percent gain, which was its biggest in three years. U.S. gold for April delivery was also nearly flat at $1,201.50 an ounce.
MCX Silverm April contract declines:-
February contract was trading at Rs 35958 down Rs 370, or 1.02 percent. The SILVERM rate touched an intraday high of Rs 36450 and an intraday low of Rs 35807. So far 13840 contracts have been traded. SILVERM prices have moved down Rs 8109, or 18.40 percent in the February series so far.

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