Gold prices steady on US-debt ceiling talks: Should you buy, sell or hold?
Gold and silver prices edged higher on Wednesday, May 17. On the Multi Commodity Exchange (MCX), gold futures were trading at Rs 60,385 per 10 grams, after recording a rise of 0.23 percent. Silver futures were trading at Rs 73,675 per kg, after witnessing a dip of 0.12 percent. Earlier this month, gold prices had reached a record high of Rs 62,020 per 10 grams. In the global market, gold prices steadied below the $2,000-mark as investors fretted over the outcome from the US debt-limit negotiations, with a firmer dollar keeping prices in check. Spot gold ticked up 0.2 percent to $1,992.56 per ounce by 0254 GMT. US gold futures edged 0.1 percent higher to $1,995.10, according to news agency Reuters. On Tuesday, gold prices fell by Rs 220 to Rs 60,807 per 10 gm in futures trade as speculators reduced their positions. The trigger According to Rahul Kalantri, VP Commodities at Mehta Equities Ltd, a downbeat Chinese economic data which increased fear of moderating consumer and industri...