GOLD AND SILVER WITNESS A RECOVEY IN EARLY TRADE

Commodity prices started the day with positive note on Monday as bullion prices witnesses a strong support in early trade. Agri commodities also continued to trade with higher while Kapas Apr delivery future was trading higher by 1.19% at Rs. 1274 per 20 kgs.

Mentha oil and Cotton gained over half per percent in early trade, CPO future also trading up by 0.48% at Rs. 1133.40 per 10 kg.

Gold prices in India traded higher on the Multi Commodity Exchange (MCX) Monday tracking a positive trend in the international spot prices. Silver prices also rose above Rs 67,000 per kg. Currently, Gold futures for April delivery rose 0.16 percent to Rs 44821 per 10 grams as against the previous close of Rs 44750 and opening price of Rs 44790 on the MCX. Silver futures traded 0.15 percent higher at Rs 66942 per kg.

Gold prices rose as the bond yields stabilized. Selling in the domestic equity market increased appeal for the yellow metal. Gold is expected to remain sideways to positive for today.