MCX Gold: On a weekly basis, Spot MCX gold prices increased around 3.5 percent after bouncing back from a low of $1531/oz. Investors preferred MCX gold as a safe haven asset for investment on the back of rise in risk aversion in the global markets. However, further upside in prices was restricted on account of strength in the US Dollar Index (DX). The yellow metal gained around $64 in the last trading day and closed at $1626.64/oz. More Information about MCX gold tips for today visit my site

On the domestic bourses, MCX Gold August contract increased around 4 percent and closed at Rs.29,755/10 gms on Friday after touching an all time high of Rs.30,028/10 gms in the last week. Holdings in the SPDR MCX Gold Trust, the world's largest gold-backed exchange-traded fund, declined around 0.4 percent to 1,273.88 tonnes on 1st June 2012 from the previous level of 1,270.26 tonnes on 25th May 2012.
MCX Silver: Taking cues from rise in MCX gold prices, Spot silver prices gained 0.7 percent in the last week. However, further rise in MCX silver prices was capped on account of stronger DX. The white metal touched a high of $28.77/oz during the week and closed at $28.64/oz on the last trading day. On the MCX gold, prices declined by 0.1 percent and closed at Rs.54,418/kg on Friday after touching an intra-day low of Rs.52,813/kg during the week.

However, further downside in prices was cushioned on back of depreciation in the Indian Rupee in last week. On a weekly basis, holdings in the iShares MCX Silver Trust, the world's largest silver-backed exchange-traded fund, declined around 0.2 percent to 9,643.18 tonnes on 1st June 2012 from the previous level of 9,664.31 tonnes on 25th May 2012.

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