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Gold and Silver Surges On Weak Dollar

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  • Tuesday, April 24, 2012
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  • Spot gold prices traded slightly higher by 0.1 today on the back of weakness in the US dollar index. The yellow metal touched an intra-day high of $ 1640.10/oz and was trading at $ 1638.16/oz today till 4:30pm IST. On the MCX, Gold June contract increased around 0.3 percent on account of depreciation in the Indian Rupee and hovered at Rs. 28,872/10 gms till 4:30pm IST today. 

    Taking cues from rise in gold prices and upside in base metals complex, spot silver prices gained by 0.2 percent till 4.30 pm IST. Additionally, a weaker dollar index also acted as a supportive factor. The white metal touched an intra-day high of $ 30.90/oz and hovered at $ 30.82/oz till 4:30pm IST today. On the MCX, silver prices rose around 0.5 percent and were trading at Rs. 55,848/kg today till 4:30pm IST. 

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