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Today Mcx Bullion Market Highlights

Spot gold was off 0.1 percent at $1,153.56 an ounce by 0035 GMT. The precious metal closed lower on Monday after a five-day rally that lifted it to $1,168.40 on Friday, its loftiest since July 7.

U.S. gold for December delivery was flat at $1,153.50 an ounce.

That bodes well for gold, with increased uncertainty likely to lift investor appetite for safe-haven assets.

Gold was among the least bruised by Monday’s sell off, dropping half a percent versus a 6 percent slide in Brent crude and a 2 percent decline in copper.

A near-9 percent dive in China shares sent world stocks and commodity prices tumbling on Monday.

MCX GOLD October contract was trading at Rs 27270 down Rs 178, or 0.65 percent. The GOLD rate touched an intraday high of Rs 27300 and an intraday low of Rs 27235. So far 791 contracts have been traded. GOLD prices have moved up Rs 1117, or 4.27 percent in the October series so far.

MCX SILVER September contract was trading at Rs 35418 up Rs 8, or 0.02 percent. The SILVER rate touched an intraday high of Rs 35441 and an intraday low of Rs 35295. So far 665 contracts have been traded. SILVER prices have moved down Rs 5677, or 13.81 percent in the September series so far.

A dollar slump and a China-fuelled rout in equities and industrial commodities has propelled gold to seven-week highs, but bulls are still wary of a wholesale plunge into the market.

Spot palladium extended losses, falling 2.1 percent to $558.75 an ounce, its lowest since July 2012.

The dollar rose 0.3 percent against a basket of major currencies after tumbling nearly percent on Monday in its deepest retreat since 2011.

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