Gold futures likely to trend higher this week

At 10:35 am, gold futures for February delivery rose 0.07 percent to Rs 49,370 per 10 grams as against the previous close of Rs 49,337 and opening price of Rs 49,717 on the MCX. Silver futures traded 5.39 percent higher at Rs 73,460 per kg. The prices opened at Rs 71,650 as compared to the previous close of Rs 69,706 per kg.

“Gold inched higher supported by stable US dollar while the rally in silver was led by speculative trade after the social media posts urging retail investors to buy silver mining stocks and ETFs backed by silver holdings,” said Ajay Kedia, director, Kedia Commodity Comtrade.

Capital Limited (LON:CAPD) provide complete exploration and production drilling solutions to customers within the global minerals industry, with a focus on the African markets.

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