Precious Metals
Gold advanced Rs 81 in afternoon trading on the Multi Commodity Exchange of India (MCX) as overseas spot prices of the metal gained about $10 an ounce after reports the US had launched strikes against ISIS militants in Syria and Israel had brought down a Syrian jet.
Gold for October delivery on the MCX was up at Rs 26,669 per 10 gm. Spot gold overseas rose to $1,225 an ounce.
Gold prices had declined after the US Federal Reserve last week projected that a key interest rate could be raised higher than expected. Although gold gained on Tuesday, analysts expect the bearish overhang to continue.
In a similar fashion, silver ready rose by Rs 250 to Rs 39,500 per kg and weekly-based delivery by Rs 455 to Rs 39,350 per kg. The white metal had lost Rs 2,350 in the previous five sessions.
On the other hand, silver coins continued to be traded at last level of Rs 69,000 for buying and Rs 70,000 for selling of 100 pieces
D A I L Y B U Z Z
GOLD/SILVERGold advanced Rs 81 in afternoon trading on the Multi Commodity Exchange of India (MCX) as overseas spot prices of the metal gained about $10 an ounce after reports the US had launched strikes against ISIS militants in Syria and Israel had brought down a Syrian jet.
Gold for October delivery on the MCX was up at Rs 26,669 per 10 gm. Spot gold overseas rose to $1,225 an ounce.
Gold prices had declined after the US Federal Reserve last week projected that a key interest rate could be raised higher than expected. Although gold gained on Tuesday, analysts expect the bearish overhang to continue.
In a similar fashion, silver ready rose by Rs 250 to Rs 39,500 per kg and weekly-based delivery by Rs 455 to Rs 39,350 per kg. The white metal had lost Rs 2,350 in the previous five sessions.
On the other hand, silver coins continued to be traded at last level of Rs 69,000 for buying and Rs 70,000 for selling of 100 pieces
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