Spot Gold prices gained almost 1 percent in the last week mainly on account of choppy market sentiments which boosted safe-haven demand for gold.
Additionally, physical buying across Asia also provided further support. The yellow metal touched a high of $1678/oz and closed its trading session at $1638/oz last week.
MCX Gold December contract rose around 0.9 percent and touched a high of Rs26, 840/10 gms in the last week.
Holdings in the SPDR Gold Trust, world's largest gold-backed exchange-traded-fund (ETF), dropped around by 0.2 percent to 1,229.51 tonnes till 7th October from the previous level of 1,231.93 tonnes on 30th September 2011.
Silver
Taking cues from rise in gold prices, silver also traded higher by more than 4 percent in the last week. Silver being an industrial metal also took cues from upside in base metals.
The white metal touched a high of $32.75/oz and closed at $31.10/oz on Friday. On a weekly basis, MCX Silver December contract rose around 1.6 percent and touched a high of Rs54,241/kg.
Holdings in the iShares Silver Trust, the world's largest silver-backed exchange-traded fund, rose around 0.1 percent to 10,005.74 tonnes by 7th October from the previous 9,995.68 tonnes on 30th September 2011.
Courtesy: Angel Commodities
Get Trading Tips that suits your profile
