Gold Rate Today: Gold, silver up in morning deals
ETMarkets.com|
Updated: Nov 13, 2017, 11.11 AM IST
Gold and silver were trading higher on Monday morning on account of demand of precious metals by jewellers, industries and retailers.
MCX Gold futures were up 0.05 per cent, or Rs 15, at Rs 29,506 per 10 gram around 11 am (IST), while MCX Silver futures were up 0.21 per cent, or Rs 83, at Rs 39590 per 1 kg at around the same time.
Angel Commodities said, “We expect gold prices to trade higher as weakness in global equities will be supportive. Also, increased concerns regarding delay in the implementation of tax play by the US government coupled with a weak dollar index will act as positive factors.”
Meanwhile, domestic equity indices were trading in red following weak Asian cues.
Domestic macro-industrial output data point released on Friday and heavy selling in capital goods counter, further eroded investors' risk taking appetite in morning trade on Monday.
The BSE Sensex was down 119 poitns, or 0.36 per cent, at 33206 around 11 am (IST), while NSE Nifty index was down 50 points, or 0.48 per cent, at 10,272 at around the same time.
MCX Gold futures were up 0.05 per cent, or Rs 15, at Rs 29,506 per 10 gram around 11 am (IST), while MCX Silver futures were up 0.21 per cent, or Rs 83, at Rs 39590 per 1 kg at around the same time.
Angel Commodities said, “We expect gold prices to trade higher as weakness in global equities will be supportive. Also, increased concerns regarding delay in the implementation of tax play by the US government coupled with a weak dollar index will act as positive factors.”
Meanwhile, domestic equity indices were trading in red following weak Asian cues.
Domestic macro-industrial output data point released on Friday and heavy selling in capital goods counter, further eroded investors' risk taking appetite in morning trade on Monday.
The BSE Sensex was down 119 poitns, or 0.36 per cent, at 33206 around 11 am (IST), while NSE Nifty index was down 50 points, or 0.48 per cent, at 10,272 at around the same time.
