bullionstreet.com / By Prithviraj Kothari / Thursday, November 29th 12:22 PM IST
Gold and Silver are likely to rise. Main reasons sited for this are the positive data from China, The Fed meeting to be held in December and the US Fiscal Cliff.
A report showed China’s manufacturing Purchasing Managers Index rose to a 13-month high of 50.4 in November, while euro zone data showed manufacturing activity slowed less than expected in November.
A good manufacturing data, means that there will be increased in demand for gold from China which has already overtaken India as the world’s largest gold consumer this year.