Gold prices rose around 0.7 percent in yesterday’s trading session mainly of account of dollar weakness, which made dollar denominated commodities look cheaper for holders of other currencies.
The yellow metal touched an intra-day high of $1661/oz and ended its session at $1652/oz on Monday. On the MCX, Gold December contract gained around 0.2 percent and touched an intra-day high of Rs26, 947/10 gms yesterday.
Holdings in the SPDR Gold Trust, world's largest gold-backed exchange-traded-fund (ETF), gained about 0.5 percent to 1,233.56 tonnes by 24th October 2011, after standing unchanged throughout last week.
Silver
Spot silver prices also traded higher by around 1.2 percent on Monday, mainly taking cues from rise in gold prices and dollar weakness. Being an industrial metal silver also took cues from upside in base metals in yesterday trade. The white metal touched an intra-day high of $32.02/oz and ended its trading session at $31.7/oz on Monday. MCX Silver December contract rose around 0.6 percent and touched an intra-day high of Rs53,645/kg yesterday.
Holdings in the iShares Silver Trust, the world's largest silverbacked exchange-traded fund, declined around 1.1 percent to 9,840.75 tonnes by till 24th October from the previous 9954.27 tonnes on 17th October 2011.
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Precious Metals Edge Higher on Weak US Dollar Index
Published 10/25/2011, 06:18 AM
Updated 05/14/2017, 06:45 AM
Precious Metals Edge Higher on Weak US Dollar Index
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