Gold Price Today: Yellow metal climbs above Rs 46,100-mark; time to take positions?

Domestic gold and silver prices moved higher on Monday tracking global benchmarks amid weakness in the dollar, making precious metals more attractive for those holding other currencies. Investors globally awaited a speech from Federal Reserve Chairman Jerome Powell due later this week for more clues on interest rates going forward.

At 11:16 am, gold futures for October delivery trading on Multi Commodity Exchange (MCX) were up by Rs 130 or 0.3 percent at Rs 46,125 per 10 grams compared with their previous close of Rs 45,995 per 10 grams. Silver December futures were at Rs 60,522 per kilogram, up by Rs 567 or nearly one percent as against their previous close of Rs 59,955 per kilogram.

Globally, gold and silver prices moved higher. Spot gold was last seen trading up half a percent at $1,759.06 per ounce while US gold futures were up 0.4 percent at $1,759 an ounce. Silver was up 0.9 percent at $22.61 per ounce.