Spot gold prices declined around 0.5 percent on Monday due to thin trading on account of Christmas holidays and touched an intraday low of $1597/oz. However, the yellow metal managed to close its trading session above the crucial $1600-mark yesterday.
On the MCX, Gold February contract declined around 0.2 percent on Monday on account of Rupee appreciation and touched an intraday low of Rs27,741/10 gms.
Floor and electronic trading on the Comex was closed on Monday in observance of the Christmas holiday.
Holdings in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, declined almost 2 percent to 1,254.57 tonnes on 23rd December 2011, the lowest since early November from the previous level of 1,279.98 tonnes on 16th December 2011.
Silver
Spot silver traded on a flat note on Monday and touched an intra-day low of $293.05/oz. MCX Silver March contract rose marginally by 0.2 percent and touched an intra-day high of low of Rs53,200/kg in yesterday trading session.
Holdings in the iShares Silver Trust, the world's largest silver-backed exchange-traded fund, declined almost 1.5 percent to 9605.79 tonnes on 23rd December 2011 from the previous level of 9743.41 tonnes on 16th December 2011.
Courtesy: Angel Commodities
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