Bullion metals ended higher at Comex on Tuesday, 06 November 2012. Prices rose as Presidential election in US got underway. Prices rose due to increasing physical demand, mainly from India due to its festive season and a relatively weaker dollar index.
Gold for December delivery rose $31.8 (1.9%) to settle at $1,715 an ounce on the Comex division of the New York Mercantile Exchange on Tuesday. Gold ended the month of October 3.1% lower.
On Monday, December silver rose 91 cents, or 2.9%, to settle at $32.03 an ounce on Tuesday.
Traders weighed the U.S. presidential election on Tuesday as well as renewed concerns about Greece and the euro-zone debt crisis.
The dollar index, which weighs the strength of the dollar against a basket of six other currencies, fell by 0.2% at the end of the day.
U.S. stocks extended gains into a second session on Tuesday, 06 November 2012 as Americans went to the polls to decide whether to reelect President Barack Obama or have Mitt Romney replace him in the White House. Stocks opened higher and held modest gains until a considerable risk bid lifted the S&P 500 to fresh highs.
At the MCX, gold prices for December delivery closed higher by Rs 379 (1.2%) at Rs 31,273 per ten grams. Prices rose to a high of Rs 31,367 per 10 grams and fell to a low of Rs 30,855 per 10 grams during the day's trading.
At the MCX, silver prices for December delivery closed higher by Rs 1,336 (2.3%) at Rs 59,910/Kg. Prices opened at Rs 58,595/kg and rose to a high of Rs 60,283/Kg during the day's trading.