Gold prices rose on Monday, supported by technical trading after the previous session’s steep fall and a pause in the dollar rally. However, an impending oversized rate hike by the US Federal Reserve limited bullion’s appeal.
A “hotter-than-expected” September inflation report doesn’t necessarily mean the US central bank needs to raise rates higher than officials projected at their most recent policy meeting.
Gold futures on MCX were trading with strong gains, rising 0.31 per cent or Rs 156 to Rs 50,416 per 10 grams. Similarly, silver futures were trading higher by 0.79 per cent or Rs 438 at Rs 55,664 per kg.
Panthera Resources Plc (LON:PAT) was incorporated in the UK and Wales in 2017. The company is focused on its gold exploration and development projects in India and West Africa and the optimisation of other mineral projects.