NEW DELHI: Gold prices inched
higher on Tuesday aided by a weaker dollar. MCX Gold futures were trading 0.26
per cent up at Rs 28,727 per 10 gram at around 10.50 am (IST).
MCX Silver futures were also
trading 0.22 per cent up at Rs 38,038 per 1 kg at around the same time.
Angel Commodities said, "We
expect gold prices to trade sideways on Tuesday as the trading activity will be
dull on account of Christmas holidays in the western world while optimism in
the US economy will lead to gold prices falling in the coming trading
sessions."
Holdings of SPDR Gold Trust , the
world's largest gold-backed exchange-traded fund, climbed 0.18 per cent to
837.50 tonnes on Friday from 836.02 tonnes on Thursday.
According to SMC Investments and
Advisors, bullion counter may trade with upside path as weaker greenback and
safe haven buying amid North Korea tensions supported the prices.
"Gold can move in range of Rs
28,500-28,800 while silver can move in range of Rs 37,400-38,200 in near
term," SMC said in a report.
On the other hand, domestic
equity markets were trading on a flat note at around the same time. However,
benchmark BSE Sensex topped 34,000 for the first time in the early trade and
the Nifty scaled a fresh high of 10,515.
For much details Contact us @
+91-7772000003 or visit- http://researchpanel.co.in/
Source: Economictimes
No comments:
Post a Comment