Weakness in the US Dollar Index coupled with upbeat sentiments in the global markets led spot gold prices to trade higher by more than 1 percent on Thursday.
The yellow metal hit an intra-day high of $ 1679.70/oz and closed its trading session at $ 1674.98/oz yesterday.
On the MCX, Gold June contract gained around 0.5 percent as further gains were capped due to appreciation in the Indian rupee and touched an intra-day high of Rs. 28,774/10 gms on Thursday.
Silver
Taking cues from rise in gold prices along with upside in base metals, spot silver prices surged by 2.4 percent on Thursday.
Additionally, weakness in the US Dollar Index and rise in risk appetite in the global markets also acted as a positive factor for the white metal prices yesterday. Silver touched an intra-day high of $32.56/oz and closed at $32.28/oz on Thursday.
On the MCX, Silver May contract rose around 1.7 percent and hit an intra-day high of Rs. 57,197/kg yesterday.
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Precious Metals Edge Higher, Tracking Global Cues: April 16, 2012
Published 04/16/2012, 04:48 AM
Updated 05/14/2017, 06:45 AM
Precious Metals Edge Higher, Tracking Global Cues: April 16, 2012
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