Gold Prices rose due to a weakening dollar - ZENMoney

Gold prices rose due to a weakening dollar against basket of currencies on lingering uncertainty over when the Federal Reserve will reduce its economic stimulus program. The Yellow metal fell initially as speculators bought futures to cover their bearish bets ahead of Wednesday's release of the minutes of the Fed's July policy meeting. The upside in the yellow metal capped byslower physical demand from China and India.

Silver Prices fell on uncertainty over how soon the Federal Reserve plans to start unwinding stimulus measures along wtih technical selling. Buying from China was quiet on Tuesday. A strengthening Euro against US dollar supported the yellow metal at lower levels.

Base metals rose as traders largely stuck to the sidelines ahead of releases on Chinese manufacturing and Federal Reserve policy this week. The investors were catious ahead of the release of the US Federal Open Market Committee's (FOMC) latest meeting minutes on Wednesday. A weaker dollar against basket of currencies supported the base metals rise further.

Source : Equity Bulls

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