Gold and Silver prices soared by over 1% on Monday – Money Maker Research

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Price of gold and silver rose by over 1 percent during Monday’s trading session after North Korea’s latest powerful nuclear test on Sunday drove investors towards safe haven assets. Effectively, the Japanese yen & sovereign bonds also soared today as North Korea’s nuclear test provoked a rash shift to safe havens, though equity losses were modest.

Post morning hours today, the MCX gold was trading up by 1 percent at Rs 30,121 per 1 kg on MCX while MCX silver was trading higher by 1.065 at Rs 41,360.

Gold stayed sustained on rising commodity prices and stabilized its 11 month high. The precious metal has registered some selling pressure at the current levels on strong U. S economic data and soaring values of the Bitcoin. COMEX Gold futures closed just under the USD 1230 per ounce levels. MCX Gold futures crossed highs above Rs 29, 900 per 10 grams and ended around Rs 29, 800 per 10 gram levels.

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