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14 May 2015
Gold rises to three-month high, Silver gains 1.5%
FXStreet (Mumbai) - Gold prices extended gains to hit a three-month high of USD 1223.3/Oz, while Silver jumped 1.5% to trade at USD 17.42/Oz as previous metals pack benefits from the sell-off in bond and equities.
The precious metal have been supported recently by the sell-off in the bond and equity markets. Furthermore, a weak US dollar is also supporting gains. Even the strong data out of the US are being ignored by the previous metals, which is evident from the uptick witnessed today post the release of a better-than-expected US weekly jobless claims data.
Gold has now rallied for three consecutive sessions, gaining more than USD40, while Silver too has gained from USD 16.13 to USD 17.42 levels. The precious metals pack could extend gains even further in case the sell-off in the equities and bond markets continue.
The precious metal have been supported recently by the sell-off in the bond and equity markets. Furthermore, a weak US dollar is also supporting gains. Even the strong data out of the US are being ignored by the previous metals, which is evident from the uptick witnessed today post the release of a better-than-expected US weekly jobless claims data.
Gold has now rallied for three consecutive sessions, gaining more than USD40, while Silver too has gained from USD 16.13 to USD 17.42 levels. The precious metals pack could extend gains even further in case the sell-off in the equities and bond markets continue.