Market Update

Market Watch

Thursday, 21 April 2016

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Gold held overnight losses on Thursday, while silver steadied below an 11-month top as the dollar firmed against the euro and equities inched higher.

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Spot gold XAU= was little changed at $1,243.90 an ounce by 0046 GMT, after dropping 0.5 percent in the previous session.

Bullion traders will be eyeing the ECB meeting later in the session for any impact on the dollar. The ECB is not expected to make any policy change at its rate-setting meeting on Thursday.

Commodity prices of steel and other industrial metals are up sharply as Chinese economic data has become much better.

Precious metals are rising with it, especially silver.
Silver, used widely in manufacturing, has outperformed gold in recent days.

Silver prices have climbed 11 percent so far this month, helped by a break through chart resistance at its late October high on Tuesday.

MCX Copper continued its journey of recovery and ended with smart gains which at one point of the day looked unlikely. Investors attributed the move both to a weaker greenback.

            PRICES AT 0339 GMT
Metal Last Change Pct chg
Spot gold 1248.51 5.21 0.42
Spot silver 17.27 0.34 2.01
Spot platinum 1023.6 8.25 0.81
Spot palladium 595.33 1.83 0.31
Comex gold 1250.6 -3.8 -0.3
Comex silver 17.315 0.18 1.05

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