 "Gold opens tad higher on global cues")
Gold opened tad higher today tracking global cues but gains were capped as the rupee was trading stronger against the dollar.
Near month contract of gold on Multi Commodity Exchange was trading at Rs 29,273 per 10 grams. On international markets, gold is trading above $1,300 per ounce, and is currently at $1,306. The last time gold was above $1,300 was in early November.
Analysts say that technically $1,270 per ounce was a strong resistance level for gold, which was broken last night and caused the yellow metal to rally. Also, weak US retail sales data caused investors to rush to gold as a safe haven asset.
Silver on the other hand opened much higher and is currently trading at Rs 45,469 per kilogram, up by 1.22%.
Near month contract of gold on Multi Commodity Exchange was trading at Rs 29,273 per 10 grams. On international markets, gold is trading above $1,300 per ounce, and is currently at $1,306. The last time gold was above $1,300 was in early November.
Analysts say that technically $1,270 per ounce was a strong resistance level for gold, which was broken last night and caused the yellow metal to rally. Also, weak US retail sales data caused investors to rush to gold as a safe haven asset.
Silver on the other hand opened much higher and is currently trading at Rs 45,469 per kilogram, up by 1.22%.