Base Metals fall; Gold, Silver prices rise - ZENMoney

Gold prices rose on expectations that a temporary deal to avoid aUS debt default might prompt the Federal Reserve not to reduce its monetary stimulus.Aweakening US dollar against basket of currencies supported the Yellow metal rise further. The Yellow metal rose at domestic markets on sustained buying by stockists for the ongoing festival and marriage season amid firm global trend.

Silver Prics rose due to a rebound in the Euro to 8 month high against US dollar and as the end of the US debt stalemate shifted focus in the currency market to the economic cost of the government shutdown and whether the Fed stimulus will stay in place. The physical demand at Indian markets on sustained buying by stockists for the ongoing festival and marriage season supported the white metal rise further.

Base metals fell after a brief rally following a temporary deal to raise the USA's debt ceiling and restart government services along with Higher-than-expected US jobless claims.AWeaker US dollar against basket of currencies supported the base metals at lower levels.

Source : Equity Bulls

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