Gold prices are likely to trade sideways due to lack of market participants. However short-term trend is still bullish in gold, expert said.
New Delhi: Gold prices rose by Rs 121 to Rs 54,721 per 10 grams in the national capital on Monday, according to HDFC Securities.
The precious metal had settled at Rs 54,600 per 10 grams in the previous trade.
Silver also rose by Rs 100 to Rs 69,050 per kg.
The Comex spot markets are closed on Monday due to the Christmas holiday.
“Gold price traded steady in the domestic market due to lack of cues from the global market due to holiday season,” said Dilip Parmar, Research Analyst at HDFC Securities.
Gold prices are likely to trade sideways due to lack of market participants. However short-term trend is still bullish in gold, Parmar added.
