Gold, silver inch higher in early trade

Gold and silver were trading higher in early trade on Monday on account of buying in precious metals by jewellers, investors and industries.

MCX Gold was up 0.13 per cent, or Rs 39, at Rs 29,206 per 10 gram around 10.30 am (IST), while MCX Silver was up 0.29 per cent, or Rs 113, at Rs 39,125 per 1 kg.

Angel Broking said, “We expect gold prices to trade higher on Monday on account of uncertainty with regards to US president Trump’s threat of government shutdown and termination of NAFTA are possible push factors.”

SMC Investments and Advisors said, “Gold can move in range of Rs 29,000-29,300 while silver can move in range of Rs 38,900-39,300 in near term.”

Meanwhile, domestic equity markets were trading in green in morning trade. Benchmark BSE Sensex was up 179 points and the NSE Nifty reclaimed the 9,900-mark in early trade on strong gains in IT, pharma and FMCG stocks.

Positive global cues too influenced the investor sentiment.