Gold prices rise on Tuesday due to emerging tensions between US and China that let investors to look more into safe haven investments. The precious metal rose nearly to one month high. Good demand from jewelers also boosts the prices for gold. Silver also gained today with sound demand from coin makers and industrial units. According to analysts, gold may reach to Rs 32,300 per 10 grams and Silver at Rs 37,400 per kilo in today’s trade.
Currently, MCX Gold is trading at Rs 32,332 per 10 grams, high being recorded at Rs 32,454 while MCX Silver is trading at Rs 37,491 per kilo, high being recorded at Rs 37,700. (Data recorded at 3 pm IST).
Oil also pinched higher on Tuesday, gaining support from US-China trade war. Crude oil is expected to see more gain in commodity prices in global markets.