Spot gold prices traded higher by 0.2 percent on Monday on the back of China’s inflation data which fueled inflation-led demand for gold.
Additionally, weakness in the US dollar also acted as a supportive factor for the yellow metal prices. Gold touched an intra-day high of $ 1648.50/oz and closed at $ 1640.80/oz on Monday.
On the MCX, Gold June contract rose around 0.9 percent on account of depreciation in the Indian rupee and touched an intra-day high of Rs. 28,390/10 gms. The yellow metal closed its trading session at 28,329/10 gms on Monday.
Silver
Spot silver prices declined around 0.7 percent on Monday on the back of weak sentiments in global markets. However, weakness in the US Dollar Index cushioned sharp declined in the white metal prices.
Silver touched an intra-day low of $31.28/oz and ended its trading session at $31.5/oz yesterday.
MCX Silver May contract declined slightly by 0.1 percent and touched an intra-day low of Rs. 55,601/kg on Monday.
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Precious Metals Settle Higher On China's Inflation Data: April 10, 2012
Published 04/10/2012, 05:59 AM
Updated 05/14/2017, 06:45 AM
Precious Metals Settle Higher On China's Inflation Data: April 10, 2012
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