Gold, Silver Deal Bigger On Sickly Dollar
NEW DELHI: Gold and silver prices on the Multi Commodity Exchange were trading higher in early trade on Monday after the US dollar declined on President Donald Trump's failure to pass healthcare reform raised doubts over his ability to push through his economic agenda. The yellow metal was trading 0.35 per cent, or Rs 101, up at Rs 28,894 per 10 gram, while the white metal was trading 0.44 per cent, or Rs 183, up at Rs 41,713 per 1 kg. Nirmal Bang Commodities in a note said, “We expect gold prices to trade higher for the day on weak dollar. The metal can rise till Rs 29,100-29,150. One can buy on dips with a stop loss below Rs 28,850.”SPDR Gold Trust GLD, the world's largest gold-backed exchange-traded fund, said its latest holdings stood at 832.62 tonnes, down 1.78 tonnes, from previous business day.Holdings of the largest silver-backed exchange-traded-fund (ETF), New York's iShares Silver Trust SLV, stood at 10,342.04 tonnes, remain unchanged from previous business day.Angel Broking is also bullish on gold for Monday’s session. The brokerage house said, “We expect gold prices to trade higher on Monday following international markets. Uncertainty with regards to policies in the US and elections in the Euro are will keep the safe haven demand intact.”
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Oil prices slid nearly 1 percent as worries about rising U.S. supplies outweighed OPEC pledges to boost compliance with output curbs.
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Silver Price Equal Off with Notable Support
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BENGALURU, FEB 27:
Gold prices held firm on Monday near 3-1/2 month highs hit in the previous session, with investor...
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