Gold Futures trade marginally higher on MCX

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 Gold Futures trade marginally higher on MCX
Gold Futures were trading marginally higher on the MCX, after rallying in the last few days. The precious metal for August delivery was a shade lower then the Rs 27,000 mark, trading at Rs 26,905.

This was marginally higher by Rs 160 over Friday's close. Silver for September delivery in line with gold prices was also trading higher by Rs 463 at Rs 41,873.

Last week international gold prices had rallied after Ben Bernanke's statement that the US would continue to need monetary easing. This raised the hopes that monetary easing in the US would continue.

Gold prices are expected to stay in a range and would like equity markets await for cues, though the metal like equities is less prone to shocks from economic data.

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