Gold and silver were trading higher in morning trade on Monday on account of some demand of precious metals from jewellers, industries and retailers.
MCX Gold futures were trading 0.27 per cent up at Rs 28,330 per 10 gram at 10.40 am (IST), while MCX Silver futures were trading 0.35 per cent up at Rs 37,335 at around the same time.
SMC Investments and Advisors said, “Bullion counter may trade with sideways bias as movement of greenback and risk sentiment to give further direction to the prices. Meanwhile movement of local currency rupee will give further direction to the prices. Gold can move in range of Rs 28,100-28,400 while silver can move in range of Rs 37,000-37,500 in near term.”
Meanwhile, benchmark equity index BSE Sensex was trading 186 points, or 0.56 per cent, up at 33,649 at around the same time. On the other hand, Nifty was up 60 points, or 0.59 per cent, at 10,394.
As many as 39 stocks were trading in green with VedantaBSE 4.71 % climbing over 3 per cent, followed by CiplaBSE 2.60 % (up 2.44 per cent), Mahindra & Mahindra (up 2.14 per cent), GAILBSE 1.71 % (up 2 per cent) and Adani Ports (up 1.98 per cent).
On the other hand, TCS, Tech MahindraBSE -0.92 %, UPL, HCL TechBSE -0.49 % and Power Grid were down between 0.80 per cent and 1.21 per cent.
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