Gold futures closed higher in the domestic market on Monday as the dollar weakened on the back of tensions between the U.S. and North Korea, helping the precious metal hold ground at its highest level in more than five months.
As some global markets, including the U.S., returned from the Easter holiday weekend and others remained closed Monday, metals markets responded to the geopolitical events.
At the MCX, gold futures for June 2017 contract ended at Rs 29445 per 10 grams, up by 0.12 per cent, after opening at Rs 29,450 against a previous close of Rs 29,409. It touched the intra-day high of Rs 29,483.
Silver futures closed lower in the domestic market on Monday as participants engaged in trimming their positions taking weak cues from global market. Marketmen attributed the fall in silver prices at futures trade to a weak trend in the precious metals overseas and profit-booking by participants at existing levels.
At the MCX, silver futures for May 2017 contract closed at Rs 42,513 per kg, down by 0.14 per cent, after opening at Rs 42,750, against a previous close of Rs 42,571. It touched the intra-day low of Rs 42,432.