Spot gold prices came under pressure on Monday on the back of a stronger dollar. Additionally, fall in crude oil prices also affected inflation-led demand for gold in yesterday’s trading session.
The yellow metal touched an intra-day low of $1716/oz and ended its trading session at the level of $1728/oz on Monday.
MCX Gold February contract rose around 0.4 percent yesterday on account of depreciation in the Indian Rupee. The yellow metal touched an intra-day high of Rs28,094/10 gms and closed at the level of Rs28,059/10 gms on Monday.
Silver
Taking cues from fall in gold prices along with dollar strength, spot silver prices declined more than 1 percent in yesterday’s trading session.
The white metal touched an intra-day low of $33.01/oz and closed at the level of $33.5/oz on Monday.
On the MCX, Silver March contract declined around 0.3 percent as sharp decline was cushioned due to depreciation in the Indian Rupee.
Courtesy: Angel Commodities
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