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Sensex: 34142.1 +322.60 Gold: Rs.30514.00
Nifty: 10491 +108.30 Silver: Rs.38380.00
SMC's Commodities update for Sept 6 -
SMC's Commodities update for Sept 6
SMC | Published: 06 Sep, 2017  | Source :

Bullion counter may remain sideways as geopolitical tensions  between North Korea and US coupled with weaker greenback can  support  the  prices higher.  Meanwhile movement of local  currency  rupee  can  give further direction  to the  prices.  Gold  can  move  in  range  of  30100-30400  while  silver  can  move  in  range  of  41000-41800  in  near  term.  Gold was  up  for  a  fifth  day  on  Wednesday  as  geopolitical  risks  over  North Korea  remained  elevated,  and  as  low  U.S. inflation  concerns  left  some  Federal  Reserve  officials  backing  delays  in  further  interest  rate  hikes. 

A  top  North  Korean diplomat on Tuesday warned that his country is ready to send "more gift packages" to the United States as world powers  struggled  for  a  response  to  Pyongyang's  latest  nuclear  weapons  test.  New  orders  for  U.S. -made  goods  recorded  their  biggest drop  in  nearly three  years in  July,  but demand for capital  goods was  stronger  than  previously reported,  pointing  to  a  faster  pace  of  business  spending  early  in  the  third  quarter .

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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.