Gold fell to nearly a 10-month low on Wednesday, adding to its deepest monthly price turn down in over three years as strong U.S. economic data and higher U.S. Treasury yields buoyed the dollar, additional cementing the case for a December rate increase.
Silver likewise fell to $16.48 an ounce on Wednesday. Indian bullion prices fell on Wednesday, following weak overseas prices. A strong Rupee also weighed on prices.
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GOLD – SILVER SPOT RATIO
The gold/silver proportion, which measures the number of silver ounces expected to buy an ounce of gold rose on Thursday morning. The gold/silver ratio was trading at 71.25 ounces compared with 71.15 ounces on Wednesday.
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