Gold price falls, Silver and Base Metals rise - ZENMoney

Gold prices fell marginally due to profit booking. The fall was limited as growing uncertainty about the US budget impasse and a looming deadline to raise the US debt ceiling bolstered bullion's safe-haven appeal. The yellow metal prices were supported with the reopen of chinese markets after long week holidays and as Gold importers in India started processing orders to re-stock ahead of the peak wedding and festival season and after the customs department cleared remaining consignments at a major airport.

Silver Prics rose marginally as the US federal government shutdown entered into its second week, fuelling concerns over whether Congress will manage to extend the country's borrowing authority before the October 17 deadline. A weaker Euro against US dollar pressurised the White metal prices.

Base metals rose due to the return of Chinese market participants to trading following a week-long national holiday along with positive economic growth stemming from China. However, The upside int the base metal's were limited with ongoing stalemate of the US government US federal government still has not resolved the shutdown and debt limit.

Source : Equity Bulls

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