Silver Update settled down -4.72% at 49306 dropped paring the rally it made after the Federal Reserve’s surprise decision last week to maintain monetary stimulus.
St. Louis Fed President Bullard said that U.S. central bank could still scale back its massive bond buying program when it meets on October 29-30. Still, the sell-off in precious metals did not go unnoticed last Friday as bullion and gold miners ETFs gave back essentially all of their no tapering announcement gains.
In a press conference following the Fed statement, Chairman Ben Bernanke reiterated that the plan to taper asset purchases was never a “preset course and added that the bank’s decision was dependent on how the economic recovery continues to progress
NCDEX tips Chana gained 1 percent. However, barley and wheat fell 0.5 percent. Chinese pressure on the saw. Castor Seed 4 per cent lower. MCX potato is idling.
Now the rupees also down and up position dollar is very high so people thinking about world market position. The people looking in market metal like gold, silver, mcx commodity free trial etc.
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