With weakness of the dollar, prices of Sarafa are likely to remain flat.
Investors are on the Congressional elections tomorrow in the US, which will show which of the Republicans and Democrats will occupy the US Congress. A sharp spike in US employment was recorded in October and the highest annual turnover in the past nine and a half years, indicating that the Federal Reserve could increase interest rates in December.
Meanwhile, in the domestic market, gold can be purchased on the auspicious occasion of Dhanteras, which will hinder gold prices near Rs 31,850 and close to Rs 31,550 for Sahara and silver prices, close to Rs 39,000 and stay close to Rs 38,200 Could.
According to the American Commodity Futures Trading Commission, in the week ending October 30, hedge funds and money managers in the comex have increased the total short positions in gold futures.
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