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Highest fluctuations in gold and silver market from past 3 Weeks:-
In past 3weeks market has played good game with the buyers and sellers, Normally because of this fluctuations people suffered high loss. No one is able to study the market properly that what will happen next moment. On Monday evening within half hour silver rate slashed down from 24550 to 23700, There is an decrement of 850 Rupees per Kg. All buyers and sellers were excepting the raise cox of this many people suffered loss.
Indian spot gold prices closed 6.9 pct lower on Thursday, largely reflecting the decline in the international market, triggering a small revival in domestic buying, ahead of the festival season.
At 12.35 pm London time, spot gold was trading at 918.50 usd an ounce, lower by more than 20 usd as book-squaring ahead of the Easter break was expedited by a stronger dollar and weaker oil prices.
On Monday, gold hit an all-time high of 1,032.50 usd an ounce in the wake of the Bear Stearns (NYSE:BSC) fire-sale, but has since been pressured lower by profit-taking in volatile trade.
Indian jewellers are expected to have bought around 10 tonnes of gold through banks yesterday to replenish their stocks, said Prithviraj Kothari, managing director of RiddhiSiddhi Bullion Ltd.
Most of them will not be able to buy the metal now as banks are closed over the weekend for a public holiday, Kothari noted, adding he sees additional buying in the coming week, if prices remain at current levels.
Mumbai gold of 0.995 purity closed 905 rupees lower at 12,075 rupees per 10 grams, while gold of 0.999 purity closed 900 rupees lower at 12,135 rupees per 10 grams.
Silver of 0.999-purity closed 2,025 rupees lower at 22,890 per kg.
If this Continuous then its difficult to run the business |
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