Precious metals had a mixed outing in 2017. MCX Gold prices witnessed a modest increase of 5.13% in the calendar year with steady gains emerging in last few weeks as traders eyed a recovery in demand in next year. The emergence of Bitcoins as a critical digital asset turned out to be the biggest factor for Gold this year. The Gold market also faced worrying demand trends in major retail markets like China, US and India. Silver mostly struggled with MCX prices witnessing a drop of 3% annually. The inability of the commodity to hold up despite massive gains in base metals could cap its allure in near term.
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