Gold, Silver prices continue to rise - ZENMoney

Gold prices rose as signs of stabilizing US inflation pressures suggested that the Federal Reserve is on track to start tapering its bond purchases later this year rather than imminently. The metal extended gains after the a rise in US CPI data. A weaker dollar against basket of currencies supported the metal's rise further. Demand from the physical gold market remains strong but has showed signs of easing.

Silver Prices rose due to a continued strength in Euro and on expectations that Federal Reserve Chairman Ben Bernanke's congressional testimony this week along with data comming from Euro zone raising expectations on ECB stimulus programme.

Base metals prices rose after upbeat US industrial production data stoked investor hopes for better demand before the focus turned to a Federal Reserve testimony to Congress.Aweaker US dollar against the euro also helped lift the appeal of other greenback-denominated metals in the complex. Some lingering pessimism in the market continues to cap gains.

Source : Equity Bulls

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