Sell Gold, Silver on rise: Nirmal Bang

Precious metals prices tumbled to a nine-month low yesterday, losing more than 1 percent as plummeting crude oil prices and sharp losses in U.S. equities triggered a sell-off in assets across the board. Holdings in the SPDR Gold Trust, the world's largest gold-backed exchange traded fund, stood at 1206.22 tonnes by Apr 03, down by 2.70 tonnes from the previous business day. 
Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust stood at 10677.89 tonnes by Apr 03, down by 25.70 tonnes from the previous business day. South African bullion producer Gold Fields Ltd GFIJ.J said workers at its Tarkwa and Damang mines in Ghana had launched a wildcat strike, halting production.  Gold Fields Says March quarter production for the new Gold Fields excluding sibanye gold, is expected to be 476,000 and Q1 cash costs are expected to be approximately usUSD830/oz.

Fundamental outlook:

Precious metals prices are trading lower on international bourses today. We expect a further sell-off in the prices of precious metals as an early indication of alterations in the asset-purchase program by the Fed may pressurize prices. Selling on rise is recommended for the day