After heavy decline from few days Gold showed a rise today and is trading with heavy gains in futures market on Monday. It also received good response from oversees market due to several reasons. Gold is showing good demand from jewellers and investors in the spot market. Silver also showed an uptrend on Monday and has been uplifted from Rs 37,269 on 3rd April. Silver is in trend due to satisfactory demand from coin makers and jewellers. Dollar’s weakness also pushed these two precious metal in an uptrend as the prices becomes low and these commodities becomes cheaper in other currencies. Dollar’s weakness pushed gold into one week peak in oversees market. Bond yields showed a decline when U.S. wage report lose its fragility even when employment showed to be increased. Though Dollar is rising currently and Indian Rupee declined by over 45 paisa over dollar. This will likely to reduce some demand of gold and silver in futures trade. The up rise of gold today is a positive signal for a lot of investors.
Gold is trading at Rs 32,167 for 10 grams on MCX on Monday, high recorded at Rs 32,189. Silver is trading at Rs 37,800 for a kilo on MCX, high recorded at Rs 37,865. (Data recorded at 4:30 pm IST).