Gold
Spot gold prices rose by 0.08 percent to close at $1108.4 per ounce on uncertainty ahead of a Federal Reserve policy meeting that will be scrutinized for clarity on when the U.S. central bank will raise interest rates.
On the MCX, gold prices rose marginally by 0.4 percent to close at Rs.26250 per 10 gms.
Silver
Spot silver prices declined by 1.4 percent on Monday to close at $14.4 per ounce. The fall in silver prices is in contrary to the rise in gold prices. Strengthening dollar also acted as a negative factor.
On the MCX, silver prices declined by 0.71 percent to close at Rs.35436 per kg.
Outlook
The FOMC meeting due on 17th September will provide possible clues on timing of rate hike by the US Federal Reserve. Meanwhile, retail sales and core retail sales to be released from the US in the evening session will be a close watch for investors across the globe.
On the MCX, gold prices are expected to trade sideways to weak as rupee appreciates in today’s trading session.
Contributed by Angel Broking
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