Commodity Market Slipped Down – Latest Market Update

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Indian currency Rupee increased its initial gains and breached the 64 mark against the US dollar. It was trading 63.99 a dollar, the highest level since August 10, 2015. It has opened higher by 7 paise at 64.19 per dollar today versus 64.26 Tuesday.
Gold & Silver were trading lower on the Multi Commodity Exchange (MCX) on Wednesday, as investor appetite for riskier assets surged on renewed optimism over the US economy and receding political uncertainty in Europe following the outcome of the first round of France elections, which softened demand for safe-haven assets. The yellow metal was trading 0.36 per cent, or Rs 104, down at Rs 28,710 per 10 gm, while the white metal was trading 0.24 per cent, or Rs 99, down at Rs 40,317 per kg. SPDR Gold Trust GLD, the world’s largest gold-backed exchange traded fund, said its latest holdings stood at 854.25 tonnes, down 5.92 tonnes, from previous business day. Holdings of the largest silver backed exchange-traded-fund (ETF), New York’s iShares Silver Trust SLV, stood at 10,181.70 tonnes up 61.83 tonnes, from previous business day.
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