Gold, silver rally as dollar weakens

Published: Tuesday, January 10, 2012, 13:11 [IST]

Gold with other commodities edged higher on Tuesday. The metal was also supported by the fall in US dollar due to its inverse relationship with the greenback.

There was a spark of enthusiasm overall on all the markets, driving equities and commodities higher with the rise in risk appetite.

International spot gold was seen trading at US $1,620 a troy ounce.

Back to India, at the Multi-Commodity Exchange (MCX), gold for February delivery contract opened at Rs 27,538 per 10 grams and was seen trading at Rs 27,555– Rs 27,559 per 10 grams at 12.30 pm IST.

On Domestic bullion, 24 carat gold seen at Rs 27,680 per 10 grams and 22 carat gold at Rs 25,850 per 10 grams.

While, Silver for delivery in March at the Multi Commodity Exchange, opened at Rs 51,775 per kg and was trading in the range of Rs 51,975 – Rs 51,985 per kg.

On domestic front, the rupee firmed up against US dollar with the rise in domestic equities.

GoodReturns.in

Story first published: Tuesday, January 10, 2012, 13:11 [IST]

Other articles published on Jan 10, 2012