Spot gold prices rose around 0.5 percent on Thursday, on the back of weakness in the US dollar, as a weaker dollar makes dollardenominated commodities cheaper for the holders of other currencies.
The yellow metal touched an intra-day high of $1661/oz and closed its trading session at the level of $1649/oz yesterday.
On the MCX, Gold February contract ended on a flat note and touched an intra-day low of Rs27,632/10 gms on Thursday.
The yellow metal ended its trading session at the level of Rs27,665/10 gms yesterday.
Silver
Spot silver prices rose almost 1 percent on Thursday, taking cues from rise in gold prices coupled with upside in base metals pack.
Additionally, a weaker dollar also provided further support. The white metal touched an intra-day high of $30.64/oz and closed at $30.2/oz yesterday.
MCX Silver March contract rose by 0.3 percent as sharp gains were capped due to appreciation in the Indian Rupee and touched an intra-day high of Rs53,400/kg on Thursday.
Courtesy:Angel Commodities
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