Gold Review Today 25 august

Gold Review Today 25 august

MARKET ROUNDUP

Precious metals fell more than 4 percent on Wednesday, falling further from the previous session's record high as a sharp rise in U.S. durable goods orders prompted more profittaking ahead of a Federal Reserve gathering this week.

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IN FOCUS

- Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund fell to 1259.57 tonnes by Aug 23, down by 24.83 tonnes from the previous business day.

- Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust rose to 9896.78 tonnes by Aug19, up by 133.32 tonnes from the previous business day.

- The CME Group on Wednesday raised margins on gold futures by about 27 percent, the biggest hike in more than two and a half years and the second increase in a month, as gold prices fell sharply after a record-setting rally.

FUNDAMENTAL OUTLOOK

Precious metals are trading marginally higher on COMEX today. We expect prices to remain under pressure on account of positive data from US and margin hike done by CME.