Gold, Silver and Metal prices rise on Monday - ZENMoney

Gold prices rose marginally due to a weaker US dollar against basket of currencies after a fiscal deadlock in the US Congress threatened to send the government into default possibly later this week along with a rise in Euro zone Industrial Production data. Gold demand in India stayed lacklustre after last week's festivals amid high premiums, even as prices edged higher from their lowest level in two months.

Silver Prics rose marginally due to better than expected Chinese data along with a strengthening Euro against US dollar a better than expected Euro Zone industrial production data. The concerns over negotiations aimed at raising the US debt ceiling before Thursday's deadline capped the gains in the White metal.

Base metals rose as investors bought raw materials on signs that US lawmakers have made progress on a deal to reopen the government and avert a potential default.Aweaker US Dollar against basket of currencies over concerns on US debt default along with strong Chinese imports of crude oil and iron ore in September supported the rise in the metal prices further.

Source : Equity Bulls

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