Gold and Silver Prices rise - ZENMoney

Gold prices rose after the FOMC's June minutes which showed that many officials wanting more reassurance that the job market was on solid ground before withdrawing the central bank's economic stimulus. The disappointing performance of US 10-year Treasuries prices or rising bond yields also weighed on gold. A disappointing Chinese trade data overnight stoked fears of a slowdown in demand for commodities in China capped the upside.

Silver Prices rose due to a rebound in Euro after the FOMC's latest policy meeting dented expectations that the US central bank will begin reducing stimulus as early as September along with with comments from ECB policymaker Joerg Asmussen.

Base metals prices rose due to fall in dollar ahead of theFOMCminutes and a speech by Fed Chairman Ben Bernanke later on Wednesday along with weak Chinese data which stoked hopes of monetary easing in China. Copper initially fell after data showed China's exports shrank 3.1% in June from a year earlier, while imports dropped 0.7%.

Source : Equity Bulls

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