Gold, Base metals fall; Silver trades flat - ZENMoney

Gold prices fell due to profit booking after the previous session's gains due to uncertainty about a partial US government shutdown and slow physical demand as China shut for National Day holidays. The yellow metal supported at lower levels with a softer US services sector data which raised expectations that the Federal Reserve would delay any reduction in economic stimulus.Astrengthening Indian rupee limited the gains at domestic markets.

Silver Prices traded on a flat note as a partial shutdown of the US government dragged on. A strengthening Euro against U Sdollar limited the White metal fall. Silver extended the downtrend owing to steady speculative selling amid lack of industrial buying support at domestic markets. A strengthening indian rupee limited the rise in the white metal prices at domestic markets.

Base metals fell due to slower than expected September service sector growth data compounded worries about raw materials demand given a budget crisis and the US government's partial shutdown. A weaker dollar against basket of currencies supported the base metal prices at lower levels.

Source : Equity Bulls

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