Gold
On Wednesday, spot gold prices declined marginally by 0.2 percent to close at $1263.9 per ounce on pressure from a firmer U.S. dollar ahead of a vote on the U.S. tax reform plan, but a potential government shutdown lent support to prices.
On Wednesday, spot gold prices declined marginally by 0.2 percent to close at $1263.9 per ounce on pressure from a firmer U.S. dollar ahead of a vote on the U.S. tax reform plan, but a potential government shutdown lent support to prices.
Silver
Spot silver prices declined 0.8 percent on Wednesday to close at $16 per ounce in line with decline in gold prices. Besides, stronger dollar index also exerted downside pressure on silver.
On the MCX, silver prices rose 1.1 percent to close at Rs.37793 per kg.
Outlook
We expect gold prices to trade lower today, continuing its weakness from the previous trading sessions, besides, stronger dollar index, consideration of tax plan by the Senate today, rate hike in the FOMC meeting scheduled next week are push factors in the near term.
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