Gold rises Rs 154; silver declines Rs 17

Gold prices rose Rs 154 to Rs 55,397 per 10 grams in the national capital on Monday amid a rise in prices of the precious metal internationally, according to Securities. The yellow metal had ended at Rs 55,243 per 10 grams in the previous trade.

Silver, however, declined Rs 17 to Rs 69,831 per kilogram.

“Gold prices traded range bound in the Asian trading hours as most of the western market closed on Monday due to New Year holiday. Investors are waiting for FOMC meeting minutes outcome which will be released on Wednesday late night,” said an analyst at HDFC Securities.

In the overseas market, gold was trading higher at USD 1,824 per ounce while silver was flat at USD 23.95 per ounce.
“After a positive US growth data and ease off in inflation number, it will be very important to keep an eye on data points which show the economic health like the US jobs market and manufacturing PMI from major economies, which is scheduled later this week,” Navneet Damani, Senior VP – Commodity Research at , said.

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