Gold
Spot gold prices rose marginally by 0.05 percent on Monday to close at $1134.1 per ounce bouncing up from session lows as oil prices rallied and the U.S. dollar fell, after bullion felt earlier pressure on indications the Federal Reserve may still raise interest rates this year, despite recent market turmoil.
On the MCX, gold prices rose marginally by 0.25 percent to close at Rs.26881 per 10 gms.
Silver
Spot silver prices rose by 0.1 percent on Monday to close at $14.6 per ounce. Prices rose in tandem with rising gold prices coupled with weak dollar.
On the MCX, silver prices rose by 0.7 percent to close at Rs.35333 per kg.
Outlook
On an intraday basis, we expect oil prices to trade higher on weak dollar and uncertainty in Euro area and China. On the contrary the FOMC meeting due this month will be a close watch for investors across the globe.
On the MCX, gold prices are expected to trade higher today.
Contributed by Angel Broking
Sections
Categories