Gold, Silver prices rise - ZENMoney

Gold prices rose marginally as crude oil's gains and a dollar drop against basket of currencies prompted funds to buy back their bearish bets as they adjusted positions ahead of aUS Federal Reserve policy meeting later this week. The yellow metal was was pressured with a rise in US manufacturing output data. The yellow metal slipped at domestic market on reduced offtake by jewellers and retailers at existing higher levels amid a weak global trend coupled with strengthening Indian Currency.

Silver Prices rose due to a stronger-than-expected US Factory Output report and disappointing US manufacturing data and ahead of the Fed Reserve's policy meeting this week. A strengthening Euro against US dollar supported the rise in the white metal prices further.Alack of buying support from industrial units and coin makers and strengthening Rupee pressurised the white metal prices at domestic markets.

Base metals closed mixed as investors waited for a closely-watched monetary policy announcement from the US. The metal's gains on Monday came despite data showing China's manufacturing sector. A rise in Copper prices were supported as investors focused on tightness in nearby supply and falling metal inventories. A strengthening Euro against US dollar supported the rise in the metal prices.

Source : Equity Bulls

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