COMMODITY MARKET NEWS
Gold and silver were trading flat with marginal gains in early trade on the first day of Calendar 2017 due to lack of global cues amid subdued buying by jewellers, investors and industries.
Gold and silver were trading flat with marginal gains in early trade on the first day of Calendar 2017 due to lack of global cues amid subdued buying by jewellers, investors and industries.
The yellow metal was trading 0.20 per cent, or Rs 56, higher at Rs 27,501 per 10 gm at around 10.30 am (IST), while the white metal was trading 0.26 per cent, or Rs 103, higher at Rs 39,152 per 1 kg on the Multi Commodity Exchange (MCX).
SMC Investment and Advisors in a research note said, “Gold can move in the Rs 27,300-27,500 per 10 gm range while silver can move in the Rs 38,700-39,400 range in the near term.”
Gold prices eased on Friday as gains from a weak dollar was offset by profit taking at the end of a year in which bullion gained about more than 8 per cent, snapping three years of declines.
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