Gold and
silver fall amid India Diwali Holiday
Oct 22 2014
The Gold dropped to
trade around $1244 per ounce, after 2 sessions of gains against the U.S Dollar,
the prices turned down on decreasing demand from jewelers and retailers in India. With the
beginning of the
Diwali festival , where
investors , after taking profits from the Gold market, they
turned to invest in equally markets , as the U.S stocks
recovered after the release of positive data from the U.S economy.
On the other hand the
silver prices also turned down on weak demand for precious metals to trade
around $17.26 per ounce.
The precious metals
were also affected by the release of better than expected inflation data in USA,
as the U.S consumer prices index rose slightly during the month of September.
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